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OCULOcular Therapeutix, Inc.
$10.33$2.3B
Overview & Verdict
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OCUL logoOcular Therapeutix, Inc.(OCUL)Earnings, Financials & Key Ratios

OCUL•NASDAQ
$10.33
Price updated Jul 7, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryOphthalmology Therapies and Delivery
AboutOcular Therapeutix, Inc., a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology. The company markets ReSure Sealant, an ophthalmic device to prevent wound leaks in corneal incisions following cataract surgery; and DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis. It is also developing OTX-TKI, an axitinib intravitreal implant that is in phase 1 clinical trials for the treatment of wet age-related macular degeneration and other retinal diseases; OTX-TIC, a travoprost intracameral implant, which is in phase 2 clinical trials for the treatment of open-angle glaucoma or ocular hypertension; OTX-CSI, a cyclosporine intracanalicular insert that has completed phase 2 clinical trials for the treatment of dry eye disease; and OTX-DED, a dexamethasone intracanalicular insert, which is in phase 2 clinical trials for the short-term treatment of the signs and symptoms of dry eye disease. The company has a strategic collaboration with Regeneron Pharmaceuticals, Inc. (Regeneron) for the development and commercialization of products using the Company's sustained-release hydrogel in combination with Regeneron's large molecule VEGF-targeting compounds for the treatment of retinal diseases; and AffaMed Therapeutics Limited for the development and commercialization of DEXTENZA and OTX-TIC, as well as a discovery collaboration with Mosaic Biosciences to identify new targets and therapeutic agents for the treatment of dry age-related macular degeneration (dMAD). Ocular Therapeutix, Inc. was incorporated in 2006 and is headquartered in Bedford, Massachusetts.Show more
  • Revenue$52M-18.7%
  • EBITDA-$266M-58.2%
  • Net Income-$266M-37.4%
  • EPS (Diluted)-1.42-16.4%
  • Gross Margin87.31%-4.2%
  • EBITDA Margin-512.7%-94.5%
  • Operating Margin-521.04%-93.3%
  • Net Margin-513.17%-69.0%
  • ROE-54.85%+42.4%

OCUL Price & Volume

Ocular Therapeutix, Inc. (OCUL) stock price & volume — 10-year historical chart

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Aggressive R&D Spending Outpaces Commercial Revenue Growth

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Decelerating
Profitability:Negative
Financial:Healthy
Cash Flow:Burning
Primary Risk:Clinical trial binary outcome

Key Thesis Takeaways

  • Ocular Therapeutix is currently prioritizing the aggressive advancement of its OTX-TKI pipeline over near-term profitability, resulting in a widening operating loss of $93.3M as of 2026Q1.
  • While the company maintains a robust liquidity position with a current ratio of 14.81, the structural decline in revenue to $10.8M suggests that commercial adoption of DEXTENZA faces significant competitive headwinds.
  • Investors should monitor the upcoming clinical readouts, as the company's long-term viability remains heavily dependent on the successful commercialization of its retinal assets to offset the current $70.7M quarterly free cash flow deficit.

Verdict Logic

the company's reliance on external capital is underscored by a persistent net loss of $88.6M in 2026Q1 and a lack of clear operating leverage to support its current $41.58 price-to-sales valuation.

OCUL Growth Metrics

Ocular Therapeutix, Inc. (OCUL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years40.33%
5 Years24.39%
3 Years0.21%
TTM-12.76%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-50.74%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-26.96%

Return on Capital

10 Years-68.94%
5 Years-48.04%
3 Years-49.8%
Last Year-46.01%

OCUL Recent Earnings

Ocular Therapeutix, Inc. (OCUL) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 3/12 qtrs (25%)●Beat Revenue 2/12 qtrs (17%)
Q2 2026Latest
May 5, 2026
Metric
Actual
Est
EPS
$0.41-28.1%
$0.32
Rev
$11M-15.2%
$13M
Q1 2026
Feb 5, 2026
Metric
Actual
Est
EPS
$0.29+12.1%
$0.33
Rev
$13M-17.8%
$16M
Q4 2025
Nov 4, 2025
Metric
Actual
Est
EPS
$0.37+5.1%
$0.39
Rev
$15M-9.9%
$16M
Q3 2025
Aug 5, 2025
Metric
Actual
Est
EPS
$0.39-11.4%
$0.35
Rev
$13M-7.6%
$15M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 5, 2026
$0.41vs $0.32-28.1%
$11Mvs $13M-15.2%
Q1 2026Feb 5, 2026
$0.29vs $0.33+12.1%
$13Mvs $16M-17.8%
Q4 2025Nov 4, 2025
$0.37vs $0.39+5.1%
$15Mvs $16M-9.9%
Q3 2025Aug 5, 2025
$0.39vs $0.35-11.4%
$13Mvs $15M-7.6%
Based on last 12 quarters of dataView full earnings history →

Latest OCUL News

Recent stock market news and headlines for Ocular Therapeutix, Inc. (OCUL)

GlobeNewsWire·6 days ago
Ocular Therapeutix™ to Participate in July Scientific and Investor Conferences

BEDFORD, Mass., July 01, 2026 (GLOBE NEWSWIRE) -- Ocular Therapeutix, Inc. (NASDAQ: OCUL, “Ocular”), an integrated biopharmaceutical company committed to redefining the retina experience, today announced participation in several upcoming scientific and investor conferences in July 2026.

Globe News Wire·6 days ago
Ocular Therapeutix™ to Participate in July Scientific and Investor Conferences

BEDFORD, Mass. , July 01, 2026 (GLOBE NEWSWIRE) -- Ocular Therapeutix, Inc. (NASDAQ: OCUL, "Ocular"), an integrated biopharmaceutical company committed to redefining the retina experience, today announced participation in several upcoming scientific and investor conferences in July 2026. Upcoming Scientific Conferences: 9th Annual OIS Retina Innovation Summit (OIS Retina 2026): July 14, 2026Montréal, Quebec Presentation: Ocular Therapeutix: Retina Experience RedefinedPresentation Date/Time: Tuesday, July 14, 2026, 11:37 - 11:44 AM EDTPresenter: Peter K.

GlobeNewsWire·Jun 22, 2026
Ocular Therapeutix™ Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

BEDFORD, Mass., June 22, 2026 (GLOBE NEWSWIRE) -- Ocular Therapeutix, Inc. (NASDAQ: OCUL, “Ocular” or the “Company”), an integrated biopharmaceutical company committed to redefining the retina experience, today announced that it has granted inducement awards to Ms. Kelley Allison, the Company's new SVP, Market Access and Health Policy. The awards were made as an inducement material to the recipient's acceptance of employment with Ocular under Ocular's 2019 Inducement Stock Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

Seeking Alpha·Jun 18, 2026
Ocular Therapeutix, Inc. (OCUL) Analyst/Investor Day Transcript

Ocular Therapeutix, Inc. (OCUL) Analyst/Investor Day Transcript

Benzinga·Jun 17, 2026
Ocular Therapeutix Maps Regulatory Strategy For Lead Drug Program

Ocular Therapeutix, Inc. (NASDAQ:OCUL) stock is trading higher on Wednesday as the company prepares for its Investor Day, where it will detail its plans for submitting a New Drug Application (NDA) for AXPAXLI.

Peers Comparison

Key metrics vs top competitors for Ocular Therapeutix, Inc. (OCUL)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
OCUL logoOCULOcular Therapeutix, Inc.Current
$10.33$2.26B-7.27-18.67%-513.17%-54.85%—
RCKT logoRCKTRocket Pharmaceuticals, Inc.
$4.07$444.42M-2.02——-70.79%—
KALA logoKALAKALA BIO, Inc.
$1.51$33.11M-0.46——-1335.64%—
ALDX logoALDXAldeyra Therapeutics, Inc.
$2.23$134.52M-3.98——-0%—
NVCR logoNVCRNovoCure Limited
$17.72$2.02B-14.528.28%-25.66%-50.82%—
SGHT logoSGHTSight Sciences, Inc.
$5.35$291.09M-7.23-3.13%-46.83%-59.1%—

Compare OCUL vs Peers

Ocular Therapeutix, Inc. (OCUL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs RCKT

Most directly comparable listed peer for OCUL.

Scale Benchmark

vs ISRG

Larger-name benchmark to compare OCUL against a more recognizable public peer.

Peer Set

Compare Top 5

vs RCKT, KALA, ALDX, NVCR

OCUL SEC Filings & Documents

Ocular Therapeutix, Inc. (OCUL) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 5, 2026·SEC

Material company update

Feb 27, 2026·SEC

Material company update

Feb 5, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 5, 2026·SEC

FY 2025

Mar 3, 2025·SEC

FY 2024

Mar 11, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 5, 2026·SEC

FY 2025

Nov 4, 2025·SEC

FY 2025

Aug 5, 2025·SEC

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OCUL Frequently Asked Questions

Ocular Therapeutix, Inc. (OCUL) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Ocular Therapeutix, Inc.'s revenue?

Ocular Therapeutix, Inc. (OCUL) reported $52.0M in revenue for fiscal year 2025. This represents a 520280% increase from $0.0M in 2012.

How fast is Ocular Therapeutix, Inc. growing?

Ocular Therapeutix, Inc. (OCUL) saw revenue decline by 18.7% over the past year.

Is OCUL profitable?

Ocular Therapeutix, Inc. (OCUL) reported a net loss of $290.5M for fiscal year 2025.

Dividend & Returns
What is OCUL's return on equity?

Ocular Therapeutix, Inc. (OCUL) has a return on equity (ROE) of -54.9%. Negative ROE indicates the company is unprofitable.

What is Ocular Therapeutix, Inc.'s free cash flow?

Ocular Therapeutix, Inc. (OCUL) had negative free cash flow of $240.9M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in OCUL back in 2012?

Total return calculator · dividends reinvested · 14+ years of data

See returns →