Filing Flows › Lipocine (LPCN) › Q2 2025
Lipocine (LPCN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Lipocine (LPCN) reported revenue of $623K for the second quarter 2025 (Q2 2025), +595% from a year earlier and +564% from the quarter before. Operating margin was -386.0%, net loss $2.2M (354.1% of revenue).
Lipocine, Q2 2025: revenue $623K (+595% year over year), operating margin -386.0%, net loss $2.2M, operating cash flow −$1.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $623K | +564% | +595% |
| Operating profit | −$2.4M | — | — |
| Net earnings | −$2.2M | — | — |
| Operating cash flow | −$1.9M | — | — |
What changed
Revenue was $623K in Q2 2025, up 595% year over year and up 564% from the previous quarter.
Operating costs exceeded revenue by $2.4M, an operating margin of -386.0%. Total costs fell 10% while revenue rose 595%. The fastest-growing cost line was Research & development (+14%). The quarter ended with a net loss of $2.2M, wider than the previous quarter's $1.9M loss.
Operating cash flow was −$1.9M. Non-cash charges added back $16K of depreciation and amortization and $65K of share-based compensation. Working capital and other items added $238K.
Questions
What was Lipocine's revenue in the second quarter 2025?
Lipocine (LPCN) reported revenue of $623K for the second quarter 2025 (Q2 2025), +595% from a year earlier and +564% from the quarter before.
Was Lipocine profitable in the second quarter 2025?
Operating loss was $2.4M (-386.0% of revenue) and net loss $2.2M.
Source: Lipocine 10-Q on SEC EDGAR.