LPCN Financials Lipocine Inc.
15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $2M | -$10M | 0.0% | -524.7% | — | — | $5M |
| 2024 | $11M | $10000 | 0.0% | -10.3% | -$1M | — | $6M |
| 2023 | -$3M | -$16M | 0.0% | 629.0% | -$12M | — | $5M |
| 2022 | $500000 | -$11M | 0.0% | -2423.9% | -$12M | — | $3M |
| 2021 | $16M | -$634399 | 0.0% | 19.5% | -$4M | $2M | $3M |
| 2020 | $0 | -$21M | — | — | — | $5M | $19M |
| 2019 | $164990 | -$13M | 0.0% | -7818.8% | — | $7M | $10M |
| 2018 | $428031 | -$12M | 0.0% | -2646.0% | -$12M | $10M | $8M |
| 2017 | $0 | -$21M | — | — | -$17M | $0 | $3M |
| 2016 | $0 | -$19M | — | — | -$18M | — | $6M |
| 2015 | — | -$18M | — | — | -$15M | — | $20M |
| 2014 | — | -$20M | — | — | — | — | $28M |
| 2013 | $0 | -$11M | — | — | -$9M | — | $45M |
| 2013 | — | -$88131 | — | — | — | — | $4M |
| 2013 | — | -$85029 | — | — | — | — | $5M |
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $119397 | -$4M | 0.0% | -3224.1% | — | — | $5M |
| Dec '25 | $1M | -$2M | 0.0% | -219.6% | — | — | $5M |
| Sep '25 | $114574 | -$3M | 0.0% | -2933.5% | — | — | $4M |
| Jun '25 | $622849 | -$2M | 0.0% | -386.0% | — | — | $6M |
| Mar '25 | $93864 | -$2M | 0.0% | -2226.8% | — | — | $3M |
| Dec '24 | $3M | $2M | 0.0% | 44.3% | $2M | — | $6M |
| Sep '24 | $0 | -$2M | — | — | — | — | $4M |
| Jun '24 | $89565 | -$3M | 0.0% | -3676.2% | — | — | $6M |
| Mar '24 | $8M | $4M | 0.0% | 42.3% | — | — | $3M |
| Dec '23 | $216188 | -$2M | 0.0% | -1199.6% | -$2M | — | $5M |
| Sep '23 | -$3M | -$7M | 0.0% | 225.6% | -$3M | — | $4M |
| Jun '23 | $0 | -$4M | — | — | -$3M | — | $5M |
| Mar '23 | $54990 | -$4M | 0.0% | -7889.9% | -$4M | — | $5M |
| Dec '22 | $0 | -$2M | — | — | -$2M | — | $3M |
| Sep '22 | — | -$2M | — | — | -$3M | — | $2M |
| Jun '22 | — | -$3M | — | — | -$3M | — | $5M |
| Mar '22 | — | -$3M | — | — | -$4M | $833000 | $6M |
| Dec '21 | — | $13M | — | — | — | $2M | $3M |
| Sep '21 | — | -$3M | — | — | — | $3M | $5M |
| Jun '21 | — | -$7M | — | — | — | $3M | $11M |
Valuation over time
How the market has priced LPCN against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has fallen from 3792.4× (Dec '24) to 2831.9× (Nov '25).
- The price-to-sales ratio has risen from 5.2× (Mar '23) to 10.0× (Jun '26).
Frequently asked questions
Is LPCN growing its revenue and profit?
See the revenue and net-income charts above for Lipocine Inc.'s multi-year trend.
How much debt does LPCN have?
As of FY2025, Lipocine Inc. reported — of total debt against $5M of cash.
What is LPCN's profit margin?
In FY2025, gross margin was —, operating margin -524.7%, and net margin -487.2%.
What is LPCN's P/E ratio?
As of Jun '26, Lipocine Inc. traded at a price-to-earnings ratio of about 2831.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.