Growth & profitability
- Revenue has grown 21.0% per year over the past 5 years.
Financial health
- Total debt has grown faster than revenue (65.9% vs 21.0% per year).
- Operating income covered interest expense -12.1× in the latest year.
OCGN Financials Ocugen, Inc.
12 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 →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $4M | -$68M | 0.0% | -1425.7% | -$57M | $29M | — |
| 2024 | $4M | -$54M | 0.0% | -1350.4% | -$46M | $29M | — |
| 2023 | $6M | -$63M | 0.0% | -1085.7% | -$73M | $3M | $39M |
| 2022 | $2M | -$87M | 0.0% | -3580.0% | -$65M | $2M | $78M |
| 2021 | — | -$58M | — | — | -$49M | $2M | $95M |
| 2020 | — | -$22M | — | — | -$15M | $2M | $24M |
| 2019 | — | -$20M | — | — | -$17M | $1M | $7M |
| 2018 | $0 | -$18M | — | — | -$12M | $9M | $2M |
| 2017 | $0 | -$26M | — | — | -$23M | — | $7M |
| 2016 | — | -$16M | — | — | — | — | $32M |
| 2015 | — | -$32M | — | — | — | — | $31M |
| 2014 | — | -$23M | — | — | — | — | $59M |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $2M | -$19M | 0.0% | -1163.7% | -$22M | $29M | $32M |
| Dec '25 | -$193000 | -$18M | 0.0% | 8805.7% | -$14M | $29M | — |
| Sep '25 | $2M | -$20M | 0.0% | -1006.0% | -$13M | $28M | — |
| Jun '25 | $1M | -$15M | 0.0% | -1004.7% | -$11M | $28M | — |
| Mar '25 | $1M | -$15M | 0.0% | -979.1% | -$19M | $28M | $38M |
| Dec '24 | $764000 | -$14M | 0.0% | -1811.5% | -$10M | $29M | — |
| Sep '24 | $1M | -$13M | 0.0% | -1166.5% | -$12M | $3M | — |
| Jun '24 | $1M | -$15M | 0.0% | -1354.0% | -$10M | $3M | $16M |
| Mar '24 | $1M | -$12M | 0.0% | -1204.7% | -$13M | $3M | $26M |
| Dec '23 | $1M | -$11M | 0.0% | -818.0% | -$14M | $3M | $39M |
| Sep '23 | $4M | -$12M | 0.0% | -336.1% | -$17M | $3M | $53M |
| Jun '23 | $485000 | -$23M | 0.0% | -4853.6% | -$22M | $3M | $71M |
| Mar '23 | $443000 | -$17M | 0.0% | -4071.1% | -$20M | $2M | $68M |
| Dec '22 | $879000 | -$27M | 0.0% | -3225.6% | -$19M | $2M | $78M |
| Sep '22 | $466000 | -$24M | 0.0% | -5388.4% | -$15M | $2M | $102M |
| Jun '22 | $643000 | -$21M | 0.0% | -3355.5% | -$15M | $2M | $115M |
| Mar '22 | $500000 | -$18M | 0.0% | -3606.8% | -$15M | $2M | $130M |
| Dec '21 | — | -$15M | — | — | -$13M | $2M | $95M |
| Sep '21 | — | -$11M | — | — | -$8M | $2M | $107M |
| Jun '21 | — | -$26M | — | — | -$22M | $2M | $116M |
Valuation over time
How the market has priced OCGN 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-sales ratio has fallen from 116.0× (Mar '23) to 104.3× (Jun '26).
P/S
Frequently asked questions
Is OCGN growing its revenue and profit?
Over the past 5 years, Ocugen, Inc.'s revenue has grown 21.0% per year. These are computed facts, not advice.
How much debt does OCGN have?
As of FY2025, Ocugen, Inc. reported $29M of total debt against — of cash; operating income covered interest expense -12.1×.
What is OCGN's profit margin?
In FY2025, gross margin was —, operating margin -1425.7%, and net margin -1540.9%.
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.