Filing Flows › Ocugen (OCGN) › Q1 2025
Ocugen (OCGN) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
Ocugen (OCGN) reported revenue of $1.5M for the first quarter 2025 (Q1 2025), +46% from a year earlier and +94% from the quarter before. Operating margin was -979.1%.
Ocugen, Q1 2025: revenue $1.5M (+46% year over year), operating margin -979.1%, net loss $15.3M, operating cash flow −$19.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.5M | +94% | +46% |
| Operating profit | −$14.5M | — | — |
| Net earnings | −$15.3M | — | — |
| Operating cash flow | −$19.4M | — | — |
What changed
Revenue was $1.5M in Q1 2025, up 46% year over year and up 94% from the previous quarter.
Operating costs exceeded revenue by $14.5M, an operating margin of -979.1%. Total costs grew 21% against revenue growth of 46%. The fastest-growing cost line was Research & development (+40%). The quarter ended with a net loss of $15.3M, wider than the previous quarter's $13.9M loss.
Operating cash flow was −$19.4M. Non-cash charges added back $600K of depreciation and $1.9M of share-based compensation. Working capital and other items used $6.5M. Capital expenditures of $16K exceeded it, leaving free cash flow of −$19.4M.
Questions
What was Ocugen's revenue in the first quarter 2025?
Ocugen (OCGN) reported revenue of $1.5M for the first quarter 2025 (Q1 2025), +46% from a year earlier and +94% from the quarter before.
Was Ocugen profitable in the first quarter 2025?
Operating loss was $14.5M (-979.1% of revenue) and net loss $15.3M.
Source: Ocugen 10-Q on SEC EDGAR.