OCUL - Ocular Therapeutix, Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$25.50
DETAILS
HIGH:
$30.00
LOW:
$21.00
MEDIAN:
$25.50
CONSENSUS:
$25.50
UPSIDE:
209.84%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||
| Revenue | 51.8 | 63.7 | 58.4 | 51.5 | 43.5 | 17.4 | 4.2 | 2.0 | 1.9 | 1.9 | 1.8 | 0.8 | 0 | 0.0 |
| Cost of Revenue | 6.6 | 5.6 | 5.3 | 4.5 | 4.4 | 2.1 | 2.3 | 0.5 | 0.5 | 0.4 | 0.3 | 0.1 | 10.5 | 0.0 |
| Gross Profit | 45.2 | 58.1 | 53.2 | 47.0 | 39.1 | 15.3 | 1.9 | 1.5 | 1.5 | 1.4 | 1.4 | 0.7 | (10.5) | 0.0 |
| Operating Expenses | ||||||||||||||
| R&D Expenses | 197.1 | 127.6 | 61.1 | 53.5 | 50.1 | 28.7 | 41.1 | 36.9 | 30.9 | 27.1 | 26.6 | 18.9 | 10.5 | 11.5 |
| SG&A Expenses | 118.3 | 102.2 | 74.5 | 72.1 | 67.1 | 49.5 | 46.6 | 23.7 | 32.5 | 17.7 | 13.0 | 8.9 | 2.4 | 2.1 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0 | (0.0) | 0.0 | 0 | 0.0 | (0.0) |
| Operating Expenses | 315.4 | 229.9 | 135.5 | 125.6 | 117.2 | 78.2 | 87.7 | 60.6 | 63.4 | 44.8 | 39.6 | 27.8 | 12.9 | 13.7 |
| Operating Income | ||||||||||||||
| Operating Income | (270.0) | (171.8) | (82.4) | (78.7) | (78.0) | (62.8) | (85.8) | (59.1) | (61.9) | (43.3) | (38.2) | (27.1) | (12.9) | (13.7) |
| Interest Expense | 11.8 | 13.6 | 11.3 | 7.0 | 6.7 | 6.8 | 6.1 | 1.7 | 1.9 | 1.7 | 1.7 | 1.1 | 0.4 | 0.4 |
| Interest Income | 18.4 | 20.3 | 4.0 | 0.8 | 0.0 | 0.2 | 1.2 | 0.9 | 0.4 | 0.3 | 0.2 | 0.0 | 0.0 | 0.0 |
| Profitability | ||||||||||||||
| EBITDA | (249.8) | (176.1) | (66.4) | (61.9) | 2.5 | (146.1) | (77.7) | (56.0) | (59.9) | (42.1) | (37.3) | (27.0) | (12.5) | (13.3) |
| EBIT | (254.1) | (179.9) | (69.4) | (64.0) | 0.1 | (148.9) | (80.3) | (58.2) | (61.5) | (43.0) | (38.0) | (27.5) | (12.9) | (13.7) |
| Income Before Tax | (265.9) | (193.5) | (80.7) | (71.0) | (6.6) | (155.6) | (86.4) | (60.0) | (63.4) | (44.7) | (39.7) | (28.6) | (13.3) | (14.1) |
| Income Tax Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (2.3) | 0.3 | 0 | 0 | 0.1 | 0 | 0 |
| Net Income | (265.9) | (193.5) | (80.7) | (71.0) | (6.6) | (155.6) | (86.4) | (57.7) | (63.4) | (44.7) | (39.7) | (28.6) | (13.3) | (14.1) |
| Per Share Data | ||||||||||||||
| EPS (Basic) | -1.42 | -1.22 | -1.09 | -1.04 | -1.05 | -2.56 | -1.91 | -1.57 | -2.20 | -1.80 | -1.71 | -2.69 | -4.52 | -4.78 |
| EPS (Diluted) | -1.42 | -1.22 | -1.02 | -0.97 | -0.98 | -2.56 | -1.91 | -1.57 | -2.20 | -1.80 | -1.71 | -2.69 | -4.52 | -4.78 |
| Shares Outstanding | 187.2 | 158.3 | 79.8 | 76.9 | 76.4 | 60.8 | 45.3 | 38.1 | 28.8 | 24.8 | 23.2 | 10.7 | 3.0 | 3.0 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 737.1 | 392.1 | 195.8 | 102.3 | 164.2 | 228.1 | 54.4 | 54.1 | 41.5 | 32.9 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 35.2 |
| Net Receivables | 30.6 | 32.4 | 26.2 | 21.3 | 21.1 | 12.3 | 2.5 | 0.2 | 0.2 | 0.2 |
| Inventory | 3.6 | 3.0 | 2.3 | 2.0 | 1.2 | 1.2 | 1.0 | 0.2 | 0.1 | 0.1 |
| Other Current Assets | 10.9 | 13.5 | 7.9 | 4.0 | 0 | 0 | 0 | 1.7 | 0.1 | 1.4 |
| Total Current Assets | 782.1 | 441.0 | 232.2 | 129.6 | 191.3 | 246.2 | 60.2 | 56.2 | 43.3 | 69.9 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 24.3 | 15.3 | 18.2 | 17.9 | 11.8 | 13.9 | 16.8 | 10.2 | 10.5 | 3.3 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 1.6 | 0 | 0 | 0 | 0 | 0 | 0 | 6.6 | 1.6 | 1.7 |
| Other Non-Current Assets | 0 | 1.6 | 1.6 | 1.8 | 1.8 | 1.8 | 1.8 | 0 | 0 | 0 |
| Total Non-Current Assets | 25.9 | 16.9 | 19.8 | 19.7 | 13.6 | 15.7 | 18.6 | 16.9 | 12.1 | 5.0 |
| Total Assets | 808.1 | 457.9 | 252.1 | 149.3 | 204.9 | 261.9 | 78.7 | 73.0 | 55.4 | 74.9 |
| Current Liabilities | ||||||||||
| Account Payables | 4.2 | 4.2 | 4.4 | 5.1 | 4.6 | 2.7 | 3.3 | 3.0 | 3.6 | 2.1 |
| Short-Term Debt | 2.8 | 0 | 0 | 0 | 0 | 8.3 | 0 | 0 | 5.5 | 1.5 |
| Deferred Revenue | 0 | 0.1 | 0.3 | 0.6 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 25.9 | 0 | 0 | 0 | 0 | 0 | 0 | 2.6 | 1.4 | 0 |
| Total Current Liabilities | 50.8 | 41.4 | 34.9 | 31.4 | 26.3 | 26.7 | 12.0 | 9.2 | 13.4 | 8.3 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 74.2 | 68.5 | 74.9 | 54.0 | 51.4 | 41.2 | 49.3 | 24.8 | 12.5 | 14.1 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 12.0 | 13.4 | 30.1 | 6.4 | 20.2 | 98.3 | 12.1 | 3.2 | 3.4 | 0.5 |
| Total Non-Current Liabilities | 102.9 | 101.2 | 126.0 | 82.5 | 90.6 | 159.1 | 70.3 | 28.0 | 15.9 | 14.6 |
| Total Liabilities | 153.7 | 142.6 | 160.9 | 113.9 | 116.9 | 185.8 | 82.4 | 37.2 | 29.3 | 22.9 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (1,157.0) | (891.1) | (697.6) | (616.8) | (545.8) | (539.3) | (383.6) | (297.2) | (237.3) | (173.9) |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0.0) |
| Total Stockholders' Equity | 654.3 | 315.3 | 91.1 | 35.4 | 88.0 | 76.1 | (3.6) | 35.9 | 26.1 | 52.0 |
| Total Liabilities & Equity | 808.1 | 457.9 | 252.1 | 149.3 | 204.9 | 261.9 | 78.7 | 73.0 | 55.4 | 74.9 |
| Debt Metrics | ||||||||||
| Total Debt | 79.8 | 75.8 | 83.4 | 64.3 | 59.0 | 58.4 | 59.3 | 24.8 | 18.0 | 15.6 |
| Net Debt | (657.3) | (316.3) | (112.4) | (38.0) | (105.2) | (169.6) | 4.9 | (29.3) | (23.5) | (17.3) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | (265.9) | (193.5) | (80.7) | (71.0) | (6.6) | (155.6) | (86.4) | (60.0) | (63.4) | (44.7) |
| Depreciation & Amortization | 4.3 | 3.8 | 3.0 | 2.1 | 2.4 | 2.8 | 2.5 | 2.3 | 1.6 | 0.9 |
| Stock-Based Compensation | 43.2 | 33.1 | 17.8 | 17.0 | 15.0 | 7.5 | 8.8 | 7.5 | 7.3 | 6.0 |
| Change in Working Capital | 7.7 | (10.2) | (7.4) | 1.3 | (2.9) | 1.2 | (1.9) | 0.6 | 3.5 | 2.1 |
| Other Non-Cash Items | 5.8 | 32.2 | (2.9) | (9.0) | (73.5) | 4.4 | 3.7 | 0.4 | 0.4 | 0.4 |
| Operating Cash Flow | (204.9) | (134.7) | (70.2) | (59.6) | (65.5) | (53.6) | (77.6) | (49.2) | (50.5) | (34.0) |
| Investing Activities | ||||||||||
| Capital Expenditure | (12.0) | (1.3) | (6.1) | (3.7) | (1.2) | (0.8) | (2.2) | (1.9) | (8.3) | (1.9) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0 | 0.0 |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (3) | (41.7) |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 38.2 | 80.7 |
| Other Investing Activities | 0.1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1 | (1.5) |
| Investing Cash Flow | (11.9) | (1.3) | (6.1) | (3.7) | (1.2) | (0.8) | (2.2) | (1.9) | 27.1 | 35.6 |
| Financing Activities | ||||||||||
| Net Debt Issuance | 0 | 316.4 | 56.3 | 0 | (0.4) | 0 | 37.3 | 6.4 | 2.4 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | (300.6) | (4.6) | 0.5 | 2.3 | 3.3 | 0.5 | 0.7 | 0.4 | (0.0) |
| Financing Cash Flow | 561.7 | 332.1 | 169.8 | 1.5 | 2.9 | 228.0 | 75.3 | 68.6 | 32.0 | 0.6 |
| Cash Position | ||||||||||
| Net Change in Cash | 345.0 | 196.1 | 93.5 | (61.9) | (63.9) | 173.6 | (4.5) | 17.5 | 8.6 | 2.2 |
| Cash at Beginning | 393.7 | 197.6 | 104.1 | 165.9 | 229.8 | 56.2 | 60.7 | 43.2 | 32.9 | 30.8 |
| Cash at End | 738.7 | 393.7 | 197.6 | 104.1 | 165.9 | 229.8 | 56.2 | 60.7 | 41.5 | 32.9 |
| Free Cash Flow | (216.9) | (136.0) | (76.3) | (63.3) | (66.7) | (54.4) | (79.8) | (51.1) | (58.7) | (35.9) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||||
| Revenue | 51.8 | 63.7 | 58.4 | 51.5 | 43.5 | 17.4 | 4.2 | 2.0 | 1.9 | 1.9 | 1.8 | 0.8 | 0 | 0.0 |
| Gross Profit | 45.2 | 58.1 | 53.2 | 47.0 | 39.1 | 15.3 | 1.9 | 1.5 | 1.5 | 1.4 | 1.4 | 0.7 | (10.5) | 0.0 |
| Operating Income | (270.0) | (171.8) | (82.4) | (78.7) | (78.0) | (62.8) | (85.8) | (59.1) | (61.9) | (43.3) | (38.2) | (27.1) | (12.9) | (13.7) |
| Net Income | (265.9) | (193.5) | (80.7) | (71.0) | (6.6) | (155.6) | (86.4) | (57.7) | (63.4) | (44.7) | (39.7) | (28.6) | (13.3) | (14.1) |
| EPS (Diluted) | -1.42 | -1.22 | -1.02 | -0.97 | -0.98 | -2.56 | -1.91 | -1.57 | -2.20 | -1.80 | -1.71 | -2.69 | -4.52 | -4.78 |
| Balance Sheet | ||||||||||||||
| Cash & Equivalents | 737.1 | 392.1 | 195.8 | 102.3 | 164.2 | 228.1 | 54.4 | 54.1 | 41.5 | 32.9 | ||||
| Total Assets | 808.1 | 457.9 | 252.1 | 149.3 | 204.9 | 261.9 | 78.7 | 73.0 | 55.4 | 74.9 | ||||
| Total Debt | 79.8 | 75.8 | 83.4 | 64.3 | 59.0 | 58.4 | 59.3 | 24.8 | 18.0 | 15.6 | ||||
| Stockholders' Equity | 654.3 | 315.3 | 91.1 | 35.4 | 88.0 | 76.1 | (3.6) | 35.9 | 26.1 | 52.0 | ||||
| Cash Flow | ||||||||||||||
| Operating Cash Flow | (204.9) | (134.7) | (70.2) | (59.6) | (65.5) | (53.6) | (77.6) | (49.2) | (50.5) | (34.0) | ||||
| Capital Expenditure | (12.0) | (1.3) | (6.1) | (3.7) | (1.2) | (0.8) | (2.2) | (1.9) | (8.3) | (1.9) | ||||
| Free Cash Flow | (216.9) | (136.0) | (76.3) | (63.3) | (66.7) | (54.4) | (79.8) | (51.1) | (58.7) | (35.9) | ||||