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OCS

Oculis Holding AG

OCS

Oculis Holding AG • NASDAQ
$19.00 ▲ 0.48% (+0.09)
Market Cap $995.10 M
52w High $23.08
52w Low $14.00
Dividend Yield 0%
P/E -7.09
Volume 100.88K
Outstanding Shares 52.37M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $243K ▼ $20.539M ▲ $-16.855M ▲ -6.936K% ▲ $-0.32 ▲ $-16.488M ▲
Q2-2025 $261K ▲ $6.12M ▼ $-25.375M ▲ -9.722K% ▼ $-0.49 ▲ $-25.103M ▲
Q1-2025 $0 $19.974M ▲ $-33.213M ▼ 0% $-0.69 $-32.836M ▼
Q4-2024 $0 $17.26M ▼ $-28.655M ▼ 0% $-0.69 ▼ $-28.525M ▼
Q3-2024 $0 $18.131M $-20.19M 0% $-0.48 $-19.786M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $46.44M ▼ $167.836M ▼ $37.242M ▼ $130.594M ▼
Q2-2025 $160.3M ▼ $181.621M ▼ $38.525M ▼ $143.096M ▼
Q1-2025 $181.928M ▲ $204.171M ▲ $41.545M ▼ $162.626M ▲
Q4-2024 $98.663M ▼ $120.353M ▼ $46.97M ▲ $73.383M ▼
Q3-2024 $105.473M $125.608M $30.38M $95.228M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-16.855M ▲ $-13.418M ▲ $-2.595M ▼ $-1.711M ▼ $-17.825M ▼ $-13.542M ▲
Q2-2025 $-25.4M ▲ $-17.242M ▲ $25.781M ▲ $605K ▼ $4.392M ▼ $-17.368M ▲
Q1-2025 $-33.206M ▼ $-18.963M ▼ $-51.505M ▼ $103.831M ▲ $32.165M ▲ $-20.063M ▼
Q4-2024 $-28.893M ▼ $-10.358M ▲ $-1.115M ▼ $2.708M ▲ $-7.924M ▲ $-10.415M ▲
Q3-2024 $-20.172M $-10.431M $4.164M $-720K $-8.22M $-10.585M

Five-Year Company Overview

Income Statement

Income Statement Oculis is still a pure R&D company with no product sales yet, so its income statement is driven entirely by research and development and other operating costs. Losses have been consistent over the past several years and have generally grown as the pipeline has advanced and spending has increased. Per‑share losses have also widened compared with the early years, which is typical for a clinical‑stage biotech ramping up late‑stage trials. Overall, the company is in a classic “investment phase”: spending heavily on science and trials with the goal of future commercialization, but with no operating revenue to offset those costs today.

Balance Sheet

Balance Sheet The balance sheet shows a transition from a more leveraged, thinner capital base to a cleaner, equity‑funded structure. Debt that was present a few years ago has effectively been removed, and shareholder equity has turned from negative to positive, suggesting recapitalization and new funding. Total assets and cash have increased from the earliest years, though the cash position is still limited relative to ongoing losses, implying a finite runway. The shift away from debt and toward equity is a positive from a risk standpoint, but it also means future funding will likely continue to rely on external capital raises unless products reach the market.

Cash Flow

Cash Flow Cash flows reflect a research‑focused company: there is no cash coming in from operations and steady cash going out to fund trials and overhead. Operating cash outflows have grown as development has intensified, and because capital spending is very low, free cash flow is almost the same as operating cash flow and is consistently negative. This means the business currently depends on its cash reserves and periodic financing activities to keep running. The key questions are how long the existing cash can support the current burn rate and whether future trial results can support new funding on acceptable terms.

Competitive Edge

Competitive Edge Oculis is trying to carve out a specialized position in eye care, particularly in diseases of the retina and ocular surface where current treatments are invasive, inconvenient, or unsatisfactory for many patients. Its main edge is a drug‑delivery platform designed to turn invasive injections into simple eye drops for certain conditions, plus a precision‑medicine angle in dry eye disease. If the late‑stage programs succeed, this could give the company a differentiated niche against much larger ophthalmology players. However, the firm still competes against deep‑pocketed pharmaceutical companies, crowded markets in dry eye, and a fast‑moving innovation cycle, so its eventual market position is far from guaranteed and will depend heavily on clinical and regulatory outcomes.

Innovation and R&D

Innovation and R&D Innovation is the core of Oculis’s story. The company is betting on three pillars: a proprietary formulation technology meant to push drugs deeper into the eye via drops, a biomarker‑driven approach that tailors dry eye treatment to specific patients, and a potential first‑in‑class neuroprotective therapy for optic nerve damage. All three lead programs are in mid‑ to late‑stage clinical development, which increases potential impact but also raises trial and approval risk. The intellectual‑property position and technological uniqueness look meaningful, but until there are approved products, all of this value remains largely theoretical and sensitive to data readouts and regulatory feedback.

Summary

Oculis is an early‑stage, ophthalmology‑focused biotech that is still pre‑revenue and firmly in the cash‑burning phase of its life cycle. Financially, it shows growing R&D‑driven losses, a strengthened balance sheet with debt largely cleared out, and ongoing reliance on external funding to cover negative cash flow. Strategically, it has a focused and differentiated pipeline targeting real unmet needs, with potential advantages in non‑invasive drug delivery and precision medicine. The main upside is the possibility of first‑ or best‑in‑class treatments in important eye diseases; the main risks are clinical failure, regulatory setbacks, funding constraints, and intense competition from established eye‑care companies. Overall, this is a classic high‑uncertainty, high‑potential R&D profile where future outcomes hinge on a small number of pivotal clinical and regulatory events.

NEWS

November 28, 2025 · 4:05 PM UTC

Oculis Publishes Notifications of Transactions by Persons Discharging Managerial Responsibilities

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November 18, 2025 · 4:05 PM UTC

Oculis Publishes Notifications of Transactions by Persons Discharging Managerial Responsibilities

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November 10, 2025 · 4:05 PM UTC

Oculis Reports Q3 2025 Financial Results and Provides Company Update

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November 5, 2025 · 4:00 AM UTC

Oculis to Participate in Upcoming November Investor Conferences

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October 30, 2025 · 4:30 AM UTC

Oculis Announces Oversubscribed $110 Million Financing to Accelerate Privosegtor Development

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