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Outlook Therapeutics (OTLK) earnings and revenue breakdown

Latest: Q3 FY25 · 10-Q filed Aug 14, 2025 · Outlook Therapeutics (OTLK) Q3 FY25 earnings results →

Outlook Therapeutics made $1.5M in Q3 FY25. Operating margin n/m, net loss $20.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2025.

Revenue$1.5M
Year over year—
Operating marginn/m
Net earnings−$20.2M
Operating cash flow−$11.9M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $1.5M in Q3 FY25.

Gross margin was 70.8%. Operating costs exceeded revenue by $15.7M, an operating margin of -1046.2%. The quarter ended with a net loss of $20.2M.

Operating cash flow was −$11.9M. Non-cash charges added back $29K of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items added $6.5M.

Quarterly history

QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2510-QAug 14, 2025$1.5M—n/m−$20.2M−$11.9M

Charts

Outlook Therapeutics: where the cash came from (+) and went (−), TTM to Q3 FY26Outlook Therapeutics: where the cash came from (+) and went (−), TTM to Q3 FY26Operating cash flow−$56.2MShares issued$54.7MOther financing$5.9MCash drawn (+) / kept (−)−$2.3MNot reconciled−$2.1M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Outlook Therapeutics: profit against cash, quarter by quarterOutlook Therapeutics: profit against cash, quarter by quarterNet incomeOperating cash flow$5.7M−$17.0MQ4 FY24$17.4M−$11.0MQ1 FY25−$46.4M−$16.6MQ2 FY25−$20.2M−$11.9MQ3 FY25−$13.3M−$12.4MQ4 FY25−$23.1M−$14.9MQ1 FY26−$4.5M−$7.8MQ2 FY26−$20.3M−$21.0MQ3 FY26
Latest (Q3 FY26): Net income −$20.3M, Operating cash flow −$21.0M.
Outlook Therapeutics: diluted shares by fiscal year (split-adjusted)Outlook Therapeutics: diluted shares by fiscal year (split-adjusted)290MFY20305MFY21424MFY2225MFY2337MFY2435MFY25
-88.0% since FY20: buybacks shrank the count; earlier years scaled for the 2-for-1 split before FY25, 2-for-1 split before FY21.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Outlook Therapeutics

We are a biopharmaceutical company that has developed ONS-5010/LYTENAVA TM as the first ophthalmic formulation of bevacizumab approved by the European Commission in the European Union, or EU, and the Medicines and Healthcare products Regulatory Agency, or MHRA, in the United Kingdom, or UK, for use in adults for the treatment of wet age-related macular degeneration, or wet AMD. In June 2025, we launched directly into the initial markets of Germany and the UK. Additionally, our Biologics License Application, or BLA, is currently under review at the U.S. Food and Drug Administration, or FDA, for the use of ONS-5010/LYTENAVA as a treatment for wet AMD in the United States. If approved by the FDA., our goal is to also launch directly in the United States as the first and only approved ophthalmic bevacizumab for the treatment of wet AMD.

In its own words, from its 10-K, filed Dec 19, 2025.

Outlook Therapeutics against its Biological Products, (No Diagnostic Substances) peers

The largest companies of the same SEC industry, each at its latest quarter.

CompanyQuarterRevenueY/YOp. margin
OTLK Outlook TherapeuticsQ3 FY25$1.5M—n/m
AMGN AmgenQ3 2026$10.4B+8%35.8%
GILD Gilead SciencesQ3 2026$8.3B+7%41.7%
BIIB BiogenQ3 2026$2.8B+11%-0.3%
MRNA ModernaQ3 2026$1.3B+29%9.9%
NBIX Neurocrine BiosciencesQ3 2026$1.1B+41%29.5%
EXEL ExelixisQ3 2026$659M+10%40.8%
HALO Halozyme TherapeuticsQ3 2026$493M+39%59.8%
MGTX MeiraGTx HoldingsQ2 2026$321M87×76.0%

Source: Outlook Therapeutics 10-Q on SEC EDGAR · CIK 1649989 · Biological Products, (No Diagnostic Substances)

13F: who owns OTLK and who is buying

Largest holders of OTLK (13F)Largest holders of OTLK (13F)Vanguard Capital Management LLC$7.0MPerceptive Advisors LLC$5.0MMarshall Wace, LLP$3.2MBlackRock$2.7MVanguard Group$2.3MJane Street Group, LLC$2.3MGeode Capital Management, LLC$2.0MSusquehanna International Group, …$1.5MVanguard Fiduciary Trust$1.1MState Street$858K
Funds' net buying of OTLK by quarter (13F)Funds' net buying of OTLK by quarter (13F)−$12.0M2024-09−$7.0M2024-12$3.3M2025-03−$1.8M2025-06−$2.0M2025-09$3.8M2025-12$645K2026-03$13.0M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on OTLK

History

Every quarter: Q3 FY25 results

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