Cash flow Ocugen, Inc.

Equities

OCGN

US67577C1053

Biotechnology & Medical Research

Market Closed - Nasdaq Other stock markets 01:30:00 23/04/2026 am IST			5-day change	1st Jan Change
1.680 ^USD	-5.08%		-6.67%	+24.44%

10/04	Ocugen, Inc. Announces Modifier Gene Therapy Delivers 46% Lesion Reduction in Age-Related Macular Degeneration	CI
01/04	Ocugen Announces Early Completion of Dosing in Phase 2/3 Pivotal Confirmatory Trial of Ocu410st for Stargardt Disease	CI

6754e12e4cb3d13214d977d4.d9Xg-KYjtRmYMlweXzAv9Ct02z9otoQofecvCgla-20.QKGQv-d3xS-1XxUmJkB1glkEt3UFzNNFBatlc2A0yllCmaKexQ7HWOx3DQ

Published financial data: OCUGEN, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	-	-	60.36L	40.55L	44.13L
Total Revenues	-	-	60.36L	40.55L	44.13L
Cost of Goods Sold, Total	3.51Cr	4.98Cr	3.96Cr	3.21Cr	3.98Cr
Gross Profit	-3.51Cr	-4.98Cr	-3.35Cr	-2.81Cr	-3.53Cr
Selling General & Admin Expenses, Total	2.29Cr	3.51Cr	3.2Cr	2.67Cr	2.76Cr
R&D Expenses	-	-	-	-	-
Other Operating Expenses	-	-	-	-	7L
Other Operating Expenses, Total	2.29Cr	3.51Cr	3.2Cr	2.67Cr	2.82Cr
Operating Income	-5.8Cr	-8.49Cr	-6.55Cr	-5.48Cr	-6.36Cr
Interest Expense, Total	-79T	-	-	-	-51.88L
Interest And Investment Income	-	14L	25L	13L	9L
Net Interest Expenses	-79T	14L	25L	13L	-42.66L
Other Non Operating Income (Expenses)	25T	21.17L	-47T	-6L	-
EBT, Excl. Unusual Items	-5.81Cr	-8.14Cr	-6.31Cr	-5.41Cr	-6.78Cr
Restructuring Charges	-	-	-	-	-
In Process R&D Expenses	-	-	-	-	-
Other Unusual Items	-3L	-	-	-	-
EBT, Incl. Unusual Items	-5.84Cr	-8.14Cr	-6.31Cr	-5.41Cr	-6.78Cr
Income Tax Expense	-52T	-	-	-	-
Earnings From Continuing Operations	-5.84Cr	-8.14Cr	-6.31Cr	-5.41Cr	-6.78Cr
Net Income to Company	-5.84Cr	-8.14Cr	-6.31Cr	-5.41Cr	-6.78Cr
Net Income - (IS)	-5.84Cr	-8.14Cr	-6.31Cr	-5.41Cr	-6.78Cr
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	-5.84Cr	-8.14Cr	-6.31Cr	-5.41Cr	-6.78Cr
Net Income to Common Excl. Extra Items	-5.84Cr	-8.14Cr	-6.31Cr	-5.41Cr	-6.78Cr
Per Share Items
Net EPS - Basic	-0.3	-0.38	-0.26	-0.2	-0.23
Basic EPS - Continuing Operations	-0.3	-0.38	-0.26	-0.2	-0.23
Basic Weighted Average Shares Outstanding	20Cr	21Cr	24Cr	27Cr	30Cr
Net EPS - Diluted	-0.3	-0.38	-0.26	-0.2	-0.23
Diluted EPS - Continuing Operations	-0.3	-0.38	-0.26	-0.2	-0.23
Diluted Weighted Average Shares Outstanding	20Cr	21Cr	24Cr	27Cr	30Cr
Normalized Basic EPS	-0.19	-0.24	-0.16	-0.12	-0.14
Normalized Diluted EPS	-0.19	-0.24	-0.16	-0.12	-0.14
Supplemental Items
EBITDA	-5.78Cr	-8.44Cr	-6.48Cr	-5.28Cr	-6.12Cr
EBITA	-5.8Cr	-8.49Cr	-6.55Cr	-5.48Cr	-6.36Cr
EBIT	-5.8Cr	-8.49Cr	-6.55Cr	-5.48Cr	-6.36Cr
EBITDAR	-5.73Cr	-8.35Cr	-6.37Cr	-5.15Cr	-5.93Cr
Total Revenues (As Reported)	-	-	60.36L	40.55L	44.13L
Effective Tax Rate - (Ratio)	0.09	-	-	-	-
Total Deferred Taxes	-52T	-	-	-	-
Normalized Net Income	-3.63Cr	-5.08Cr	-3.94Cr	-3.38Cr	-4.24Cr
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
General and Administrative Expenses	2.29Cr	3.51Cr	3.2Cr	2.67Cr	2.76Cr
Research And Development Expense From Footnotes	3.51Cr	4.98Cr	3.96Cr	3.21Cr	3.98Cr
Net Rental Expense, Total	5L	9L	11.26L	12.48L	18.59L
Imputed Operating Lease Interest Expense	1L	-	-	-	23.51L
Imputed Operating Lease Depreciation	4L	-	-	-	-5L
Stock-Based Comp., COGS (Total)	20.49L	27.64L	23.41L	21.58L	30.92L
Stock-Based Comp., R&D Exp. (Total)	-	-	-	-	-
Stock-Based Comp., G&A Exp. (Total)	49.09L	77.77L	68.76L	52.69L	46.15L
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	69.58L	1.05Cr	92.17L	74.27L	77.07L

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	9.5Cr	7.76Cr	3.95Cr	5.85Cr	1.86Cr
Short Term Investments	-	1.34Cr	-	-	-
Total Cash And Short Term Investments	9.5Cr	9.09Cr	3.95Cr	5.85Cr	1.86Cr
Inventory	49.88L	-	-	-	-
Prepaid Expenses	27L	75.58L	35.09L	31.68L	53.3L
Other Current Assets, Total	-	-	-	-	4L
Total Current Assets	10Cr	9.85Cr	4.3Cr	6.17Cr	2.43Cr
Gross Property Plant And Equipment	31.25L	1.06Cr	2.25Cr	2.33Cr	2.4Cr
Accumulated Depreciation	-4L	-6L	-12.3L	-31.6L	-55.13L
Net Property Plant And Equipment	27.51L	99.63L	2.12Cr	2.02Cr	1.85Cr
Other Long-Term Assets, Total	4L	2L	3L	6L	7L
Total Assets	11Cr	11Cr	6.45Cr	8.24Cr	4.35Cr
Liabilities
Accounts Payable, Total	23.12L	80.62L	31.72L	42.43L	62.02L
Accrued Expenses, Total	43.25L	99L	26.67L	43.1L	54.4L
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	-	-	-	13.26L	12.5L
Current Portion of Leases	4L	5L	6L	5L	9L
Unearned Revenue Current, Total	-	-	1.05Cr	83.68L	59.07L
Other Current Liabilities	-	-	2L	28.22L	33.86L
Total Current Liabilities	70L	1.85Cr	1.71Cr	2.16Cr	2.3Cr
Long-Term Debt	17.12L	22.89L	28L	2.73Cr	2.75Cr
Long-Term Leases	12.31L	35.87L	35.67L	33.13L	34.94L
Unearned Revenue Non Current	-	-	-	-	8L
Other Non Current Liabilities	-	2L	5L	6L	8L
Total Liabilities	99.43L	2.46Cr	2.4Cr	5.28Cr	5.57Cr
Preferred Stock Convertible	1T	1T	1T	-	-
Total Preferred Equity	1T	1T	1T	-	-
Common Stock, Total	19.95L	22.17L	25.67L	29.15L	31.25L
Additional Paid In Capital	23Cr	29Cr	32Cr	37Cr	39Cr
Retained Earnings	-13Cr	-21Cr	-29Cr	-34Cr	-41Cr
Treasury Stock	-48T	-48T	-48T	-48T	-48T
Comprehensive Income and Other	-	26T	20T	48T	61T
Total Common Equity	9.58Cr	8.41Cr	4.06Cr	2.96Cr	-1.22Cr
Total Equity	9.58Cr	8.41Cr	4.06Cr	2.96Cr	-1.22Cr
Total Liabilities And Equity	11Cr	11Cr	6.45Cr	8.24Cr	4.35Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	20Cr	23Cr	26Cr	29Cr	33Cr
ECS Total Common Shares Outstanding	20Cr	22Cr	26Cr	29Cr	31Cr
Book Value / Share	0.48	0.38	0.16	0.1	-0.04
Tangible Book Value	9.58Cr	8.41Cr	4.06Cr	2.96Cr	-1.22Cr
Tangible Book Value Per Share	0.48	0.38	0.16	0.1	-0.04
Total Debt	33.06L	63.74L	69.41L	3.25Cr	3.31Cr
Net Debt	-9.17Cr	-8.46Cr	-3.25Cr	-2.6Cr	1.46Cr
Debt Equivalent Oper. Leases	37.2L	74.56L	90.08L	99.84L	1.49Cr
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	11.39L	20.22L	18.94L	36.25L	38.16L
Full Time Employees	56	84	65	95	116
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-5.84Cr	-8.14Cr	-6.31Cr	-5.41Cr	-6.78Cr
Depreciation & Amortization - CF	2L	5L	7L	19.68L	23.89L
Depreciation & Amortization, Total	2L	5L	7L	19.68L	23.89L
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	13.62L
(Gain) Loss From Sale Of Asset	-	-	4L	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-99T	-2L	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	-
Stock-Based Compensation (CF)	69.58L	1.05Cr	92.17L	74.27L	77.07L
Other Operating Activities, Total	7L	11.55L	40.78L	-11.48L	-53T
Change In Accounts Payable	34.98L	94.87L	-1.23Cr	41.37L	33.11L
Change in Other Net Operating Assets	-10.08L	-3L	-8L	-5L	-38.34L
Cash from Operations	-4.79Cr	-6.01Cr	-6.21Cr	-4.21Cr	-5.7Cr
Capital Expenditure	-10.66L	-44.57L	-1.05Cr	-33.85L	-2L
Cash Acquisitions	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-	-1.33Cr	1.36Cr	-	-
Other Investing Activities, Total	-8L	8L	-	-	-1L
Cash from Investing	-18.16L	-1.7Cr	30.77L	-33.85L	-3L
Long-Term Debt Issued, Total	-	5L	5L	3Cr	-
Total Debt Issued	-	5L	5L	3Cr	-
Long-Term Debt Repaid, Total	-10T	-	-	-	-10L
Total Debt Repaid	-10T	-	-	-	-10L
Issuance of Common Stock	13Cr	5.96Cr	2.08Cr	3.86Cr	1.99Cr
Repurchase of Common Stock	-	-	-	-	-
Other Financing Activities, Total	-85.25L	-6L	-4L	-36.98L	-15.26L
Cash from Financing	12Cr	5.95Cr	2.09Cr	6.49Cr	1.73Cr
Foreign Exchange Rate Adjustments	-	25T	-5T	28T	13T
Net Change in Cash	7.09Cr	-1.75Cr	-3.81Cr	1.94Cr	-3.99Cr
Supplemental Items
Levered Free Cash Flow	-3.27Cr	-3.5Cr	-4.9Cr	-2.46Cr	-3.31Cr
Unlevered Free Cash Flow	-3.27Cr	-3.5Cr	-4.9Cr	-2.46Cr	-3.12Cr
Change In Net Working Capital	25.48L	-1.15Cr	74.69L	-35.69L	14.09L
Net Debt Issued / Repaid	-10T	5L	5L	3Cr	-10L

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-54.48	-49.48	-47.3	-46.57	-63.1
Return on Total Capital	-58.89	-55.97	-64.07	-62.43	-95.62
Return On Equity %	-99.46	-90.46	-110.14	-154.01	-776.89
Return on Common Equity	-99.46	-90.46	-110.14	-154.01	-776.89
Margin Analysis
Gross Profit Margin %	-	-	-555.62	-692.26	-800.75
SG&A Margin	-	-	530.05	658.1	624.95
EBITDA Margin %	-	-	-1.07T	-1.3T	-1.39T
EBITA Margin %	-	-	-1.09T	-1.35T	-1.44T
EBIT Margin %	-	-	-1.09T	-1.35T	-1.44T
Income From Continuing Operations Margin %	-	-	-1.05T	-1.33T	-1.54T
Net Income Margin %	-	-	-1.05T	-1.33T	-1.54T
Net Avail. For Common Margin %	-	-	-1.05T	-1.33T	-1.54T
Normalized Net Income Margin	-	-	-653.14	-833.14	-960.88
Levered Free Cash Flow Margin	-	-	-811.48	-607.75	-750.42
Unlevered Free Cash Flow Margin	-	-	-811.48	-607.75	-707.81
Asset Turnover
Asset Turnover	-	-	0.07	0.06	0.07
Fixed Assets Turnover	-	-	0.39	0.2	0.23
Short Term Liquidity
Current Ratio	14.66	5.34	2.51	2.86	1.06
Quick Ratio	13.57	4.93	2.31	2.71	0.81
Operating Cash Flow to Current Liabilities	-6.85	-3.25	-3.63	-1.95	-2.47
Average Days Payable Outstanding	-	38.05	51.81	42.24	47.95
Long Term Solvency
Total Debt/Equity	3.45	7.58	17.11	109.69	-272.43
Total Debt / Total Capital	3.34	7.05	14.61	52.31	157.99
LT Debt/Equity	3.07	6.99	15.7	103.46	-255.1
Long-Term Debt / Total Capital	2.97	6.5	13.4	49.34	147.95
Total Liabilities / Total Assets	9.4	22.63	37.16	64.06	127.96
EBIT / Interest Expense	-734.53	-	-	-	-12.26
EBITDA / Interest Expense	-725.75	-	-	-	-11.44
(EBITDA - Capex) / Interest Expense	-739.24	-	-	-	-11.47
Total Debt / EBITDA	-0.06	-0.08	-0.11	-0.63	-0.56
Net Debt / EBITDA	1.6	1.01	0.51	0.5	-0.25
Total Debt / (EBITDA - Capex)	-0.06	-0.07	-0.09	-0.59	-0.56
Net Debt / (EBITDA - Capex)	1.57	0.96	0.44	0.47	-0.24
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	-	142.6	-32.82	8.83
Gross Profit, 1 Yr. Growth %	456.3	41.73	-37.51	-16.3	25.88
EBITDA, 1 Yr. Growth %	307.52	46	-26.82	-18.57	16.22
EBITA, 1 Yr. Growth %	306.22	46.25	-26.43	-16.44	16.41
EBIT, 1 Yr. Growth %	306.22	46.25	-26.43	-16.44	16.41
Earnings From Cont. Operations, 1 Yr. Growth %	167.46	39.38	-27.33	-14.31	25.52
Net Income, 1 Yr. Growth %	167.46	39.38	-27.33	-14.31	25.52
Normalized Net Income, 1 Yr. Growth %	291.86	40.06	-27.33	-14.31	25.52
Diluted EPS Before Extra, 1 Yr. Growth %	-2.26	26.66	-36.17	-22.74	13.32
Net Property, Plant and Equip., 1 Yr. Growth %	157.83	262.16	113.13	-5.02	-8.35
Total Assets, 1 Yr. Growth %	286.33	2.71	-40.58	27.72	-47.22
Tangible Book Value, 1 Yr. Growth %	344.63	-12.28	-45.17	-26.95	-141.06
Common Equity, 1 Yr. Growth %	344.63	-12.28	-45.17	-26.95	-141.06
Cash From Operations, 1 Yr. Growth %	225.93	25.32	3.29	-32.09	35.17
Capital Expenditures, 1 Yr. Growth %	247.23	318.1	135.05	-67.69	-94.53
Levered Free Cash Flow, 1 Yr. Growth %	841.94	7.12	77.6	-49.69	32.62
Unlevered Free Cash Flow, 1 Yr. Growth %	980.59	7.12	77.6	-49.69	27.2
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	-	27.66	-14.49
Gross Profit, 2 Yr. CAGR %	108.37	180.79	-2.26	-27.68	2.65
EBITDA, 2 Yr. CAGR %	102.45	143.92	5.91	-22.81	-2.84
EBITA, 2 Yr. CAGR %	102.41	143.74	6.27	-21.59	-1.5
EBIT, 2 Yr. CAGR %	102.41	143.74	6.27	-21.59	-1.5
Earnings From Cont. Operations, 2 Yr. CAGR %	69.8	93.08	3.96	-21.09	3.71
Net Income, 2 Yr. CAGR %	69.8	93.08	3.96	-21.09	3.71
Normalized Net Income, 2 Yr. CAGR %	70.83	134.28	4.21	-21.09	3.71
Diluted EPS Before Extra, 2 Yr. CAGR %	-54.68	11.26	-7.12	-29.78	-6.43
Net Property, Plant and Equip., 2 Yr. CAGR %	120.26	205.57	177.82	42.27	-6.7
Total Assets, 2 Yr. CAGR %	150.85	99.2	-21.88	-12.88	-17.89
Tangible Book Value, 2 Yr. CAGR %	194.89	97.49	-34.94	-36.71	-45.23
Common Equity, 2 Yr. CAGR %	194.89	97.49	-34.94	-36.71	-45.23
Cash From Operations, 2 Yr. CAGR %	68.46	102.1	13.77	-16.25	-4.19
Capital Expenditures, 2 Yr. CAGR %	496.1	281.02	213.49	-12.85	-86.71
Levered Free Cash Flow, 2 Yr. CAGR %	30.24	217.41	22.4	-5.47	-17.77
Unlevered Free Cash Flow, 2 Yr. CAGR %	34.03	240.23	22.4	-5.47	-20.14
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	419.71	-	21.05
Gross Profit, 3 Yr. CAGR %	-	83.25	74.51	-7.19	-13
EBITDA, 3 Yr. CAGR %	53.15	81.55	65.96	-2.98	-11.6
EBITA, 3 Yr. CAGR %	53.19	81.63	66.16	-1.92	-10.63
EBIT, 3 Yr. CAGR %	53.19	81.63	66.16	-1.92	-10.63
Earnings From Cont. Operations, 3 Yr. CAGR %	47.41	58.99	42.45	-2.53	-7.89
Net Income, 3 Yr. CAGR %	47.41	58.99	42.45	-2.53	-7.89
Normalized Net Income, 3 Yr. CAGR %	47.17	59.89	62.05	-2.37	-7.89
Diluted EPS Before Extra, 3 Yr. CAGR %	-56.65	-36.16	-5.53	-12.65	-17.63
Net Property, Plant and Equip., 3 Yr. CAGR %	123.69	159.97	170.99	94.26	22.88
Total Assets, 3 Yr. CAGR %	250.59	86.27	33.1	-7.97	-26.28
Tangible Book Value, 3 Yr. CAGR %	96.08	96.85	23.47	-32.38	-45.21
Common Equity, 3 Yr. CAGR %	96.08	96.85	23.47	-32.38	-45.21
Cash From Operations, 3 Yr. CAGR %	60.34	52.64	61.58	-4.21	-1.76
Capital Expenditures, 3 Yr. CAGR %	139.69	429.63	224.35	46.98	-65.38
Levered Free Cash Flow, 3 Yr. CAGR %	74.22	21.96	141.53	-8.99	6.29
Unlevered Free Cash Flow, 3 Yr. CAGR %	104.06	24.38	152.97	-8.99	4.24
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	152.5
Gross Profit, 5 Yr. CAGR %	-	-	-	28.26	41.13
EBITDA, 5 Yr. CAGR %	-	61.11	32.14	30.21	33.96
EBITA, 5 Yr. CAGR %	-	61.23	32.34	31.06	34.8
EBIT, 5 Yr. CAGR %	-	61.23	32.34	31.06	34.8
Earnings From Cont. Operations, 5 Yr. CAGR %	-	59.76	28.19	21.71	25.47
Net Income, 5 Yr. CAGR %	-	59.76	28.19	21.71	25.47
Normalized Net Income, 5 Yr. CAGR %	-	59.76	28.19	22.12	35.56
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-14.39	-41.2	-32.81	-5.89
Net Property, Plant and Equip., 5 Yr. CAGR %	-	130.18	143.95	104.27	76.9
Total Assets, 5 Yr. CAGR %	-	74.94	92.31	37.45	9.71
Tangible Book Value, 5 Yr. CAGR %	-	80.11	26.12	21.88	-10.81
Common Equity, 5 Yr. CAGR %	-	80.11	26.12	21.88	-10.81
Cash From Operations, 5 Yr. CAGR %	-	56.89	39.78	20.06	31.1
Capital Expenditures, 5 Yr. CAGR %	-	92.19	166.85	157.33	-9.63
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	51.23	5.01	56.96
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	66.33	6.25	59.5