Ocugen, Inc.

ocugen.com

What Do They Do?

Develops gene therapies for inherited retinal diseases and other causes of vision loss, including retinitis pigmentosa, Stargardt disease and geographic atrophy.

How Do They Make Money?

Receives collaborative-arrangement revenue for work performed under an agreement, with amounts earned over time as the work progresses.

FY2025 revenue

Do Revenues Turn Into Profits?

No. It lost $67.8M in FY2025.

Operating income, FY2025

−1426% of revenue

▲ +15% (Loss) vs FY2024 (−$54.8M, −1350%)

Net income, FY2025

−1536% of revenue

▲ +25% (Loss) vs FY2024 (−$54.1M, −1334%)

Free cash flow, FY2025

−1295% of revenue

▲ +26% (Loss) vs FY2024 (−$45.5M, −1123%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +8%; vs $1.4M in Q2 FY2025

Aug 6, 2026 Signs term sheet for exclusive OCU400 regional license The proposed exclusive license covers the Middle East and North Africa region.

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