# OCUGEN, INC. (OCGN) · Edgar & Edgarette company card

> Ocugen (OCGN) grew revenue 8.8% in FY2025 to $4 million, operating margin -1426% against a -15.8% median for biological products, (no diagnostic substances), equity -28.0% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1372299 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/OCGN) · [JSON](https://www.pops4.com/boards/company/OCGN.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $4M |
| Revenue growth, 1 year | 8.8% |
| Revenue growth per year | — |
| Operating margin | -1425.7% (prior year -1350.4%) |
| Net margin | -1537.4% |
| Operating cash flow | −$57M |
| Capital spending | $185,000 |
| Free cash flow | −$57M |
| Cash | $19M |
| Long-term debt | $29M |
| Total assets | $44M |
| Total equity | −$12M |
| Equity ÷ assets | -28.0% |
| Return on equity | — |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -40.32 (distress zone)
- Piotroski F: 2 of 9 (weak)
- Health Harbor boat: Rotting at the dock · four or more warning signs · liabilities exceed assets (often from years of share buybacks, not always distress); operating cash flow was negative; operating loss: a margin of -1425.7% in FY2025; revenue is hard to predict: its 80% range is ±73%
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

Exposure: revenue $4.4M (FY2025), total debt $28.8M. Experience: revenue up 8.8% on the year; operating margin -1425.7%, down from -1350.4%. Soundness: equity -28.0% of assets (liabilities exceed assets). Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $2.0M and $12.6M next year (method v4.1: its own 3-year record of growth weighed at 40% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $1.8M to $14.3M. A statistical range, not company guidance. Against peers (31 filers, $50M+ revenue, biological products, (no diagnostic substances)): operating margin -1425.7% against a -15.8% median; growth 8.8% against 21.4%.

Range logged 2026-09-29, receipt 70b4c3d51c54c231, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 4, latest 2026-06-03 ([filing](https://www.sec.gov/Archives/edgar/data/1372299/000110465926070124/0001104659-26-070124-index.htm))

## Recent filings

- 10-Q · filed 2026-11-04 · [filing](https://www.sec.gov/Archives/edgar/data/1372299/000162828026069835/0001628280-26-069835-index.htm)
- 8-K · filed 2026-11-04 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1372299/000110465926122401/0001104659-26-122401-index.htm)
- 8-K · filed 2026-10-15 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1372299/000110465926115970/0001104659-26-115970-index.htm)
- 8-K · filed 2026-10-15 · 1.01 Entry into a Material Definitive Agreement; 7.01 Regulation FD Disclosure; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1372299/000110465926115921/0001104659-26-115921-index.htm)
- 8-K · filed 2026-10-06 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/1372299/000162828026065077/0001628280-26-065077-index.htm)
- 8-K · filed 2026-09-23 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/1372299/000162828026063084/0001628280-26-063084-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001372299.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1372299

## Cite

POPS4, Edgar & Edgarette: OCUGEN, INC. (OCGN) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/OCGN. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.