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Lipocine (LPCN) Q1 2026 earnings results (first quarter 2026)

10-Q filed May 7, 2026

Lipocine (LPCN) reported revenue of $119K for the first quarter 2026 (Q1 2026), +27% from a year earlier and -90% from the quarter before.

Revenue$119K
Year over year+27%
Quarter over quarter-90%
Operating margin—
Net earnings−$3.7M

Lipocine, Q1 2026: revenue $119K (+27% year over year), net loss $3.7M, operating cash flow −$2.3M. The chart follows the revenue to costs, profit and cash.

Q1 2026AmountQ/QY/Y
Revenue$119K-90%+27%
Operating profit−$3.8M——
Net earnings−$3.7M——
Operating cash flow−$2.3M——

What changed

Revenue was $119K in Q1 2026, up 27% year over year and down 90% from the previous quarter.

Operating costs exceeded revenue by $3.8M, an operating margin of -3224.1%. Total costs grew 82% against revenue growth of 27%. The fastest-growing cost line was Research & development (+160%). The quarter ended with a net loss of $3.7M, wider than the previous quarter's $2.4M loss.

Operating cash flow was −$2.3M. Non-cash charges added back $15K of depreciation and amortization and $65K of share-based compensation. Working capital and other items added $1.3M.

Questions

What was Lipocine's revenue in the first quarter 2026?

Lipocine (LPCN) reported revenue of $119K for the first quarter 2026 (Q1 2026), +27% from a year earlier and -90% from the quarter before.

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Source: Lipocine 10-Q on SEC EDGAR.