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 | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $2M | -$10M | 0.0% | -524.7% | -66.5% | -56.6% | — | — | $5M |
| 2024 | $11M | $10000 | 0.0% | -10.3% | 0.0% | 0.0% | -$1M | — | $6M |
| 2023 | -$3M | -$16M | 0.0% | 629.0% | -80.3% | -71.1% | -$12M | — | $5M |
| 2022 | $500000 | -$11M | 0.0% | -2423.9% | -30.2% | -28.7% | -$12M | — | $3M |
| 2021 | $16M | -$634399 | 0.0% | 19.5% | -1.4% | -1.2% | -$4M | $2M | $3M |
| 2020 | $0 | -$21M | — | — | -136.7% | -82.7% | — | $5M | $19M |
| 2019 | $164990 | -$13M | 0.0% | -7818.8% | -206.9% | -66.2% | — | $7M | $10M |
| 2018 | $428031 | -$12M | 0.0% | -2646.0% | -123.6% | -55.9% | -$12M | $10M | $8M |
| 2017 | $0 | -$21M | — | — | -110.6% | -82.9% | -$17M | $0 | $3M |
| 2016 | $0 | -$19M | — | — | -72.9% | -69.4% | -$18M | — | $6M |
| 2015 | — | -$18M | — | — | -43.4% | -40.1% | -$15M | — | $20M |
| 2014 | — | -$20M | — | — | -77.3% | -72.8% | — | — | $28M |
| 2013 | $0 | -$11M | — | — | -23.6% | -23.0% | -$9M | — | $45M |
| 2013 | — | -$88131 | — | — | 499.9% | -881310.0% | — | — | $4M |
| 2013 | — | -$85029 | — | — | 585.2% | -18565.3% | — | — | $5M |
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | $190099 | -$3M | 0.0% | -1495.1% | -12.0% | -11.0% | — | — | $5M |
| Mar '26 | $119397 | -$4M | 0.0% | -3224.1% | -16.1% | -14.5% | — | — | $5M |
| Dec '25 | $1M | -$2M | 0.0% | -219.6% | -16.4% | -13.9% | — | — | $5M |
| Sep '25 | $114574 | -$3M | 0.0% | -2933.5% | -22.5% | -19.8% | — | — | $4M |
| Jun '25 | $622849 | -$2M | 0.0% | -386.0% | -12.9% | -11.9% | — | — | $6M |
| Mar '25 | $93864 | -$2M | 0.0% | -2226.8% | -9.7% | -9.1% | — | — | $3M |
| Dec '24 | $3M | $2M | 0.0% | 44.3% | 8.5% | 7.9% | $2M | — | $6M |
| Sep '24 | $0 | -$2M | — | — | -11.6% | -10.7% | — | — | $4M |
| Jun '24 | $89565 | -$3M | 0.0% | -3676.2% | -14.5% | -13.3% | — | — | $6M |
| Mar '24 | $8M | $4M | 0.0% | 42.3% | 14.7% | 13.8% | — | — | $3M |
| Dec '23 | $216188 | -$2M | 0.0% | -1199.6% | -11.2% | -9.9% | -$2M | — | $5M |
| Sep '23 | -$3M | -$7M | 0.0% | 225.6% | -29.6% | -26.9% | -$3M | — | $4M |
| Jun '23 | $0 | -$4M | — | — | -12.4% | -11.6% | -$3M | — | $5M |
| Mar '23 | $54990 | -$4M | 0.0% | -7889.9% | -12.1% | -11.4% | -$4M | — | $5M |
| Dec '22 | $0 | -$2M | — | — | -6.3% | -5.9% | -$2M | — | $3M |
| Sep '22 | — | -$2M | — | — | -6.4% | -6.1% | -$3M | — | $2M |
| Jun '22 | — | -$3M | — | — | -6.6% | -6.2% | -$3M | — | $5M |
| Mar '22 | — | -$3M | — | — | -8.2% | -7.3% | -$4M | $833000 | $6M |
| Dec '21 | — | $13M | — | — | 27.7% | 24.1% | — | $2M | $3M |
| Sep '21 | — | -$3M | — | — | -9.4% | -7.6% | — | $3M | $5M |
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 fallen from 89.1× (Mar '23) to 6.0× (Nov '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%.
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), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.