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Ocular Therapeutix OCUL Q4 2025 Annual earnings

Reported February 5, 2026 · Before market open

Revenue$13.3MMiss by $2.9M
EPS-$0.29Beat by $0.04
Revenue estimate$16.1M
EPS estimate-$0.33

Next report

Aug 4, 2026 (In 6 days)
Revenue estimate$13.2M
EPS estimate-$0.40

Financials

Q4 2025

Income statement

See full
Revenue$13.3M-22.4%
Gross profit$11.7M-26.5%
Operating income-$69.8M-37.9%
Net income-$64.7M-33.6%
EPS (diluted)-$0.27+3.6%

Balance sheet

See full
Cash & equivalents$737.1M+88.0%
Total debt$77.0M+1.6%
Total equity$654.3M+107%
Total assets$808.1M+76.5%

Cash flow

See full
Operating cash flow-$54.2M-37.6%
CapEx$2.8M+1,305%
Free cash flow-$57.1M-44.0%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$2.59B+92.6%
Enterprise value$1.93B+87.7%
P/S49.8×+28.7×

Profitability

See full
Gross margin87.3%-3.8pp
Operating margin-519.8%+6,700pp
Net margin-511.9%+1,117pp
FCF margin-417.5%+9,214pp

Returns & leverage

See full
Return on equity-54.9%-16.3pp
Debt / equity0.1×-0.1×
Current ratio15.4×+4.7×

Segments

By segment

See full
Single Reportable$13.3M-22.4%

Versus estimates

Revenue

Q1 2026$10.8MMiss by $1.9M
Q4 2025$13.3MMiss by $2.9M
Q3 2025$14.5MMiss by $1.6MQ2 2025$13.5MMiss by $1.1MQ1 2025$10.6MMiss by $2.5MQ4 2024$17.1MMiss by $29.8K

Diluted EPS

Q1 2026-$0.41Miss by $0.09
Q4 2025-$0.29Beat by $0.04
Q3 2025-$0.37Beat by $0.02Q2 2025-$0.39Miss by $0.04Q1 2025-$0.37Miss by $0.08Q4 2024-$0.29Miss by $0.05

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Questions, answered.

When did Ocular Therapeutix report Q4 2025 earnings?
Ocular Therapeutix (OCUL) reported Q4 2025 earnings on February 5, 2026 before market open.
What were Ocular Therapeutix's Q4 2025 revenue and EPS?
Ocular Therapeutix reported revenue of $13.3M and eps of $-0.29 for Q4 2025.
Did Ocular Therapeutix beat estimates in Q4 2025?
Revenue missed the consensus estimate of $16.1M by $2.9M. EPS beat the consensus estimate of $-0.33 by $0.04.
How did Ocular Therapeutix's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 22.4% from $17.1M a year earlier and eps grew 0.0% from $-0.29.
Where can I find Ocular Therapeutix's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001104659-26-010633) and the 10-K periodic report (0001104659-26-010664) directly on SEC EDGAR. The filing index links above go to sec.gov.