Stocks · Healthcare · Biotechnology
Ocular Therapeutix, Inc. OCUL
$6.96 -4.53% Close, Oct 2, 2026 · NASDAQ · Market cap $1.52B
Weak trend
Next earnings report: Nov 3, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Operating margin narrowed to -603.0% from -402.6% a year earlier.
- The diluted share count rose 30.3% in a year.
- The stock is 57% below its highest close of the past year.
PromtFinance scores
Each score is a percentile within the Healthcare sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 20%
- Revenue growth, 3-year CAGRBottom 24%
- Revenue growth accelerationTop 18%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 25%
- Gross marginTop 22%
- Operating marginBottom 15%
- Accruals (lower is better)Top 37%
- Interest coverBottom 24%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 32%
- Free-cash-flow yieldBottom 28%
- EBITDA / enterprise valueBottom 23%
- Sales / enterprise valueBottom 21%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 35%
- 6-month returnBottom 25%
- 1-year return vs S&P 500Bottom 17%
- Distance from 52-week highBottom 19%
- Trend checklist (0–4)Bottom 38%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 42%
- Consecutive EPS beatsBottom 49%
- Share of analysts rating BuyTop 28%
- Upside to consensus price targetTop 11%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 26%
- Maximum drawdown, 3 yearsTop 37%
- Beta vs S&P 500 (lower is better)Bottom 32%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | -12.8% | -8.1% | ↑ |
| Gross margin | 89.4% | 87.1% | ↓ |
| Operating margin | -402.6% | -603.0% | ↓ |
| FCF margin | -316.5% | -490.1% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | -8.1% | -12.8% | ↑ | Bottom 20% |
| Gross margin | 87.1% | 89.4% | ↓ | Top 22% |
| Operating margin | -603.0% | -402.6% | ↓ | Bottom 15% |
| Net margin | -579.1% | -382.5% | ↓ | — |
| Free-cash-flow margin | -490.1% | -316.5% | ↓ | — |
| Return on invested capital | -50.2% | — | Bottom 25% | |
| Revenue growth, 3-year CAGR | 0.2% | — | Bottom 24% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -9.4%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 102.4%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +7.6 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- Net cash
- Interest cover (operating income / interest)How many times operating profit covers interest.
- -27.5×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -30.36%
- Shareholder yield
- -30.36%
- Share count change, 1 year
- +30.3%
- Share count change, 3-year CAGR
- +42.3%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 3, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 1
- Beats in the last 8 reports
- 3 of 8
- Average EPS surprise, last 4
- +0.2%
- Average 2-day reaction, last 8
- -4.6%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $27.50
- Target vs current price
- +295.1%
- Analysts with a rating
- 19
- Share rating Buy or Strong Buy
- 89%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 3, 2026 | +11.5% | +2.8% | +12.5% | +26.8% | — |
| May 5, 2026 | -28.1% | -0.6% | -5.0% | -14.9% | -13.3% |
| Feb 5, 2026 | +12.1% | +4.2% | +7.1% | +20.8% | +10.3% |
| Nov 4, 2025 | +5.1% | -4.5% | -5.1% | -1.4% | -19.9% |
| Aug 5, 2025 | -11.4% | -2.8% | +1.7% | +2.8% | -6.6% |
| May 5, 2025 | -27.6% | -12.2% | -19.8% | -7.8% | +32.5% |
| Mar 3, 2025 | -20.8% | -16.9% | +5.6% | +6.2% | -2.8% |
| Nov 14, 2024 | -13.0% | -6.4% | -17.2% | -16.1% | -29.6% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 3, 2026 | -$0.35 | -$0.40 | +11.5% | $13.5M |
| May 5, 2026 | -$0.41 | -$0.32 | -28.1% | $10.8M |
| Feb 5, 2026 | -$0.29 | -$0.33 | +12.1% | $13.3M |
| Nov 4, 2025 | -$0.37 | -$0.39 | +5.1% | $14.5M |
| Aug 5, 2025 | -$0.39 | -$0.35 | -11.4% | $13.5M |
| May 5, 2025 | -$0.37 | -$0.29 | -27.6% | $10.6M |
| Mar 3, 2025 | -$0.29 | -$0.24 | -20.8% | $17.1M |
| Nov 14, 2024 | -$0.26 | -$0.23 | -13.0% | $15.4M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| EV / Sales | 19.30× | — | — | Bottom 21% |
| Free-cash-flow yield | -16.74% | — | — | Bottom 28% |
| Earnings yield | -20.40% | — | — | Bottom 32% |
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- +0.2%
- 200-day average slope (20 days)
- -3.3%
- Distance from 50-day average
- -28.7%
- Distance from 200-day average
- -27.7%
- RSI (14)
- 25.3
- Relative volume
- 1.47×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 71.6%
- Volatility vs own 5-year history
- 47th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.45
- Correlation with S&P 500
- 0.36
- Current drawdown from 1-year high
- -56.8%
- Maximum drawdown, 3 years
- -61.6%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Dec 15, 2020 | Nov 16, 2023 | -90.9% | 735 days | Not yet recovered |
| Oct 13, 2020 | Oct 28, 2020 | -23.3% | 11 days | 7 days (Nov 6, 2020) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $1.52B
- EPS, diluted (TTM)
- -$1.42
- Revenue (TTM)
- $52.1M
- 52-week range
- $6.23 – $16.44
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $43.5M | $51.5M | $58.4M | $63.7M | $51.8M |
| Gross profit | $39.1M | $47.0M | $53.2M | $58.1M | $45.2M |
| Operating income | -$78.0M | -$78.7M | -$82.4M | -$171.8M | -$270.0M |
| Net income | -$6.6M | -$71.0M | -$80.7M | -$193.5M | -$265.9M |
| EPS (diluted) | -$0.98 | -$0.97 | -$1.02 | -$1.22 | -$1.42 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $15.4M | $17.1M | $10.7M | $13.5M | $14.5M | $13.3M | $10.8M | $13.5M |
| Net income | -$36.5M | -$48.4M | -$64.1M | -$67.8M | -$69.4M | -$64.7M | -$88.6M | -$78.8M |
| EPS (diluted) | -$0.22 | -$0.29 | -$0.38 | -$0.39 | -$0.38 | -$0.29 | -$0.40 | -$0.35 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | -$65.5M | -$59.6M | -$70.2M | -$134.7M | -$204.9M |
| Capital expenditure | -$1.2M | -$3.7M | -$6.1M | -$1.3M | -$12.0M |
| Free cash flow | -$66.7M | -$63.3M | -$76.3M | -$136.0M | -$216.9M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $985,000 | $940,000 | $118.1M | $316.4M | $561.7M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $598.6M
- Total assets
- $671.3M
- Total liabilities
- $151.3M
- Total debt
- $79.4M
- Net debt
- -$519.3M
- Shareholders’ equity
- $520.0M
As of Jun 30, 2026 (filed Aug 3, 2026).
Short interest
- Shares sold short
- 29,933,140
- Days to cover
- 14.19
- Change vs previous report
- +6.7%
FINRA short interest, settlement date Sep 15, 2026.