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Evofem Biosciences vs Lipocine: EVFM and LPCN compared
Evofem Biosciences is the larger company: $2.6M of revenue in its latest quarter (Q2 2026) against $2.3M for Lipocine (Q3 2026). Lipocine is growing faster (20× against -45% a year earlier). Lipocine is more profitable, with an operating margin of -37.9% against -94.5%.
Where the money goes: EVFM and LPCN
Evofem Biosciences (EVFM) · Q2 2026
Evofem Biosciences, Q2 2026: revenue $2.6M (-45% year over year), operating margin -94.5%, net loss $11.0M, operating cash flow −$3.1M. The chart follows the revenue to costs, profit and cash.
Lipocine (LPCN) · Q3 2026
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.
| Evofem Biosciences (EVFM) | Lipocine (LPCN) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $2.6M | $2.3M |
| Revenue growth, Y/Y | -45% | 20× |
| Operating margin | -94.5% | -37.9% |
| Net earnings | −$11.0M | −$666K |
| Net margin | -419.1% | -29.1% |
| Operating cash flow | −$3.1M | −$1.8M |
Questions
Which is bigger, Evofem Biosciences or Lipocine?
Evofem Biosciences is the larger company: $2.6M of revenue in its latest quarter (Q2 2026) against $2.3M for Lipocine (Q3 2026).
Is Evofem Biosciences or Lipocine growing faster?
Lipocine is growing faster (20× against -45% a year earlier).
Which is more profitable, Evofem Biosciences or Lipocine?
Lipocine is more profitable, with an operating margin of -37.9% against -94.5%.
More: Evofem Biosciences earnings · how Evofem Biosciences makes money · Lipocine earnings · how Lipocine makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 14, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.