OCGN (OCGN) financial statements
OCGN reported revenue of $4M in fiscal 2025, up 152.5% a year over 5 years.
Net income was -$68M.
Free cash flow was -$57M.
The diluted share count rose 1598% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from OCGN's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $43,000 | $0 | $2M | $6M | $4M | $4M |
| Research and development | $22M | $16M | $10M | $8M | $6M | $35M | $56M | $40M | $32M | $40M |
| Selling, general and admin | $9M | $9M | $6M | $6M | $8M | $23M | $35M | $32M | $27M | $28M |
| Operating income | -$30M | -$25M | -$16M | -$14M | -$21M | -$58M | -$89M | -$66M | -$55M | -$63M |
| Interest expense | $60,000 | — | $4M | $2M | $721,000 | $79,000 | — | — | $688,000 | $5M |
| Pre-tax income | -$16M | -$26M | -$9M | -$20M | -$22M | -$58M | -$81M | -$63M | -$54M | -$68M |
| Income tax | — | — | — | $0 | $0 | -$52,000 | $0 | $0 | $0 | $0 |
| Net income | -$16M | -$26M | -$18M | -$20M | -$22M | -$58M | -$87M | -$63M | -$54M | -$68M |
| EPS (diluted) | -$2.18 | -$0.99 | -$0.79 | -$1.46 | -$0.31 | -$0.30 | -$0.40 | -$0.26 | — | — |
| Diluted shares | 14M | 23M | 37M | 14M | 112M | 195M | 215M | 244M | — | — |
| Operating margin | — | — | — | — | -49500.0% | — | -3580.0% | -1085.7% | -1350.4% | -1425.7% |
| Net margin | — | — | — | — | -50748.8% | — | -3488.9% | -1045.0% | -1333.0% | -1537.4% |
Balance sheet
Fiscal years, from OCGN's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $32M | $8M | $2M | $7M | $24M | $95M | $91M | $39M | $59M | $19M |
| Total current assets | $32M | $8M | $2M | $16M | $26M | $103M | $98M | $43M | $62M | $24M |
| Property, plant and equipment | $4M | $3M | $245,788 | $222,464 | $633,000 | $1M | $6M | $17M | $17M | $14M |
| Total assets | $36M | $11M | $2M | $17M | $27M | $106M | $109M | $65M | $82M | $44M |
| Total current liabilities | $5M | $4M | $14M | $5M | $4M | $7M | $29M | $17M | $22M | $23M |
| Long-term debt | — | — | $1M | $1M | $2M | $2M | $2M | $3M | $27M | $28M |
| Total liabilities | $23M | $22M | $15M | $6M | $6M | $10M | $35M | $24M | $53M | $56M |
| Shareholders' equity | $14M | $4M | -$13M | $11M | $22M | $91M | $74M | $41M | $30M | -$12M |
| Net debt | -$32M | -$7M | -$611,409 | -$6M | -$22M | -$93M | -$75M | -$37M | -$30M | $10M |
Cash flow
Fiscal years, from OCGN's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$26M | -$23M | -$12M | -$17M | -$15M | -$48M | -$60M | -$62M | -$42M | -$57M |
| Capital spending | $320,000 | $276,000 | $77,414 | $30,000 | $307,000 | $939,000 | $4M | $10M | $3M | $185,000 |
| Free cash flow | -$26M | -$23M | -$12M | -$17M | -$15M | -$49M | -$65M | -$73M | -$46M | -$57M |
| Stock-based compensation | $2M | $2M | $2M | $884,000 | $660,000 | $7M | $11M | $9M | $7M | $8M |
| Share buybacks (net) | — | — | $0 | -$48,000 | $0 | $0 | — | — | — | — |
| Net borrowing | -$583,000 | -$583,000 | $0 | -$5M | -$6M | $0 | $500,000 | $500,000 | $30M | $0 |
| Free cash flow margin | — | — | — | — | -34920.9% | — | -2593.9% | -1201.6% | -1122.7% | -1295.0% |
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Open OCGN in InvestinglyQuestions
What was OCGN's revenue in 2025?
$4M in fiscal 2025, from its 10-K filing.
How much free cash flow does OCGN generate?
-$57M in fiscal 2025 (operating cash flow minus capital spending).
From OCGN's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.