Filing Flows › Ocugen (OCGN) › Q3 2025
Ocugen (OCGN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Ocugen (OCGN) reported revenue of $1.8M for the third quarter 2025 (Q3 2025), +54% from a year earlier and +28% from the quarter before.
Ocugen, Q3 2025: revenue $1.8M (+54% year over year), net loss $20.1M, operating cash flow −$12.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.8M | +28% | +54% |
| Operating profit | −$17.6M | — | — |
| Net earnings | −$20.1M | — | — |
| Operating cash flow | −$12.9M | — | — |
What changed
Revenue was $1.8M in Q3 2025, up 54% year over year and up 28% from the previous quarter.
Operating costs exceeded revenue by $17.6M, an operating margin of -1006.0%. Total costs grew 35% against revenue growth of 54%. The fastest-growing cost line was Research & development (+38%). The quarter ended with a net loss of $20.1M, wider than the previous quarter's $14.7M loss.
Operating cash flow was −$12.9M. Non-cash charges added back $2.0M of share-based compensation. Working capital and other items added $5.2M. Capital expenditures of $91K exceeded it, leaving free cash flow of −$13.0M.
Questions
What was Ocugen's revenue in the third quarter 2025?
Ocugen (OCGN) reported revenue of $1.8M for the third quarter 2025 (Q3 2025), +54% from a year earlier and +28% from the quarter before.
Source: Ocugen 10-Q on SEC EDGAR.