Filing Flows › Lipocine (LPCN) › Q3 2026
Lipocine (LPCN) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Lipocine (LPCN) reported revenue of $2.3M for the third quarter 2026 (Q3 2026), up 20-fold from a year earlier and up 12-fold from the quarter before. Operating margin was -37.9%, net loss $666K (29.1% of revenue).
Lipocine, Q3 2026: revenue $2.3M (20× year over year), operating margin -37.9%, net loss $666K, operating cash flow −$1.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.3M | 12× | 20× |
| Operating profit | −$869K | — | — |
| Net earnings | −$666K | — | — |
| Operating cash flow | −$1.8M | — | — |
What changed
Revenue was $2.3M in Q3 2026, up 1899% year over year and up 1105% from the previous quarter.
Operating costs exceeded revenue by $869K, an operating margin of -37.9%. Total costs fell 9% while revenue rose 1899%. The fastest-growing cost line was General & admin (+42%). The quarter ended with a net loss of $666K, narrower than the previous quarter's $2.6M loss. Non-operating items added $202K, -30% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$1.8M. Non-cash charges added back $15K of depreciation and amortization and $74K of share-based compensation. Working capital and other items used $1.2M.
Questions
What was Lipocine's revenue in the third quarter 2026?
Lipocine (LPCN) reported revenue of $2.3M for the third quarter 2026 (Q3 2026), up 20-fold from a year earlier and up 12-fold from the quarter before.
Was Lipocine profitable in the third quarter 2026?
Operating loss was $869K (-37.9% of revenue) and net loss $666K.
Source: Lipocine 10-Q on SEC EDGAR.