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Side-by-side financial comparison of FREQUENCY ELECTRONICS INC (FEIM) and OCULAR THERAPEUTIX, INC (OCUL). Click either name above to swap in a different company.
FREQUENCY ELECTRONICS INC is the larger business by last-quarter revenue ($17.1M vs $13.3M, roughly 1.3× OCULAR THERAPEUTIX, INC). FREQUENCY ELECTRONICS INC runs the higher net margin — 10.5% vs -488.0%, a 498.5% gap on every dollar of revenue. On growth, FREQUENCY ELECTRONICS INC posted the faster year-over-year revenue change (8.3% vs -22.4%). FREQUENCY ELECTRONICS INC produced more free cash flow last quarter ($-1.1M vs $-57.1M). Over the past eight quarters, FREQUENCY ELECTRONICS INC's revenue compounded faster (11.8% CAGR vs -5.3%).
Ultra Electronics Holdings is a British defence and security company. It was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index until it was acquired by Cobham, which is itself owned by Advent International.
Ocular Therapeutix, Inc. is a biopharmaceutical firm specializing in developing and commercializing innovative ophthalmic therapies. Its products treat acute and chronic eye conditions including post-surgical pain, glaucoma, and dry eye, serving patients and ophthalmology providers primarily across the U.S. and select global markets.
FEIM vs OCUL — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $17.1M | $13.3M |
| Net Profit | $1.8M | $-64.7M |
| Gross Margin | 38.2% | 88.0% |
| Operating Margin | 10.0% | -526.5% |
| Net Margin | 10.5% | -488.0% |
| Revenue YoY | 8.3% | -22.4% |
| Net Profit YoY | -32.1% | -33.6% |
| EPS (diluted) | $0.18 | $-0.27 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $17.1M | $13.3M | ||
| Q3 25 | $13.8M | $14.5M | ||
| Q2 25 | $20.0M | $13.5M | ||
| Q1 25 | $18.9M | $10.7M | ||
| Q4 24 | $15.8M | $17.1M | ||
| Q3 24 | $15.1M | $15.4M | ||
| Q2 24 | $15.6M | $16.4M | ||
| Q1 24 | $13.7M | $14.8M |
| Q4 25 | $1.8M | $-64.7M | ||
| Q3 25 | $634.0K | $-69.4M | ||
| Q2 25 | $3.2M | $-67.8M | ||
| Q1 25 | $15.4M | $-64.1M | ||
| Q4 24 | $2.7M | $-48.4M | ||
| Q3 24 | $2.4M | $-36.5M | ||
| Q2 24 | $2.6M | $-43.8M | ||
| Q1 24 | $130.0K | $-64.8M |
| Q4 25 | 38.2% | 88.0% | ||
| Q3 25 | 36.8% | 87.8% | ||
| Q2 25 | 37.5% | 85.6% | ||
| Q1 25 | 43.8% | 88.2% | ||
| Q4 24 | 48.2% | 92.8% | ||
| Q3 24 | 44.4% | 89.9% | ||
| Q2 24 | 40.3% | 90.8% | ||
| Q1 24 | 22.6% | 91.0% |
| Q4 25 | 10.0% | -526.5% | ||
| Q3 25 | 2.6% | -472.3% | ||
| Q2 25 | 16.4% | -502.6% | ||
| Q1 25 | 18.3% | -597.5% | ||
| Q4 24 | 16.5% | -296.1% | ||
| Q3 24 | 15.7% | -298.2% | ||
| Q2 24 | 16.0% | -265.1% | ||
| Q1 24 | -3.4% | -214.0% |
| Q4 25 | 10.5% | -488.0% | ||
| Q3 25 | 4.6% | -477.3% | ||
| Q2 25 | 16.0% | -503.9% | ||
| Q1 25 | 81.4% | -598.7% | ||
| Q4 24 | 16.8% | -283.3% | ||
| Q3 24 | 16.1% | -236.6% | ||
| Q2 24 | 16.9% | -266.3% | ||
| Q1 24 | 0.9% | -438.9% |
| Q4 25 | $0.18 | $-0.27 | ||
| Q3 25 | $0.07 | $-0.38 | ||
| Q2 25 | $0.33 | $-0.39 | ||
| Q1 25 | $1.60 | $-0.38 | ||
| Q4 24 | $0.28 | $-0.25 | ||
| Q3 24 | $0.25 | $-0.22 | ||
| Q2 24 | $0.28 | $-0.26 | ||
| Q1 24 | $0.01 | $-0.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.0M | $737.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $58.5M | $654.3M |
| Total Assets | $92.3M | $808.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | $737.1M | ||
| Q3 25 | $4.5M | $344.8M | ||
| Q2 25 | $4.7M | $391.1M | ||
| Q1 25 | $5.5M | $349.7M | ||
| Q4 24 | $9.7M | $392.1M | ||
| Q3 24 | $16.2M | $427.2M | ||
| Q2 24 | $18.3M | $459.7M | ||
| Q1 24 | $11.7M | $482.9M |
| Q4 25 | $58.5M | $654.3M | ||
| Q3 25 | $56.3M | $258.2M | ||
| Q2 25 | $55.6M | $305.9M | ||
| Q1 25 | $51.8M | $265.9M | ||
| Q4 24 | $36.2M | $315.3M | ||
| Q3 24 | $33.2M | $352.0M | ||
| Q2 24 | $39.8M | $377.7M | ||
| Q1 24 | $36.7M | $408.0M |
| Q4 25 | $92.3M | $808.1M | ||
| Q3 25 | $93.2M | $410.9M | ||
| Q2 25 | $93.7M | $451.3M | ||
| Q1 25 | $86.4M | $405.9M | ||
| Q4 24 | $77.8M | $457.9M | ||
| Q3 24 | $84.3M | $490.4M | ||
| Q2 24 | $83.3M | $517.1M | ||
| Q1 24 | $77.7M | $538.9M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-523.0K | $-54.2M |
| Free Cash FlowOCF − Capex | $-1.1M | $-57.1M |
| FCF MarginFCF / Revenue | -6.6% | -430.9% |
| Capex IntensityCapex / Revenue | 3.6% | 21.4% |
| Cash ConversionOCF / Net Profit | -0.29× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-5.5M | $-216.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-523.0K | $-54.2M | ||
| Q3 25 | $1.2M | $-50.7M | ||
| Q2 25 | $-155.0K | $-55.2M | ||
| Q1 25 | $-3.6M | $-44.7M | ||
| Q4 24 | $3.8M | $-39.4M | ||
| Q3 24 | $-1.5M | $-36.6M | ||
| Q2 24 | $7.5M | $-24.8M | ||
| Q1 24 | $4.2M | $-33.9M |
| Q4 25 | $-1.1M | $-57.1M | ||
| Q3 25 | $385.0K | $-56.7M | ||
| Q2 25 | $-786.0K | $-56.5M | ||
| Q1 25 | $-4.0M | $-46.6M | ||
| Q4 24 | $3.3M | $-39.6M | ||
| Q3 24 | $-1.8M | $-36.6M | ||
| Q2 24 | $6.7M | $-25.5M | ||
| Q1 24 | $3.9M | $-34.1M |
| Q4 25 | -6.6% | -430.9% | ||
| Q3 25 | 2.8% | -390.0% | ||
| Q2 25 | -3.9% | -419.7% | ||
| Q1 25 | -20.9% | -435.6% | ||
| Q4 24 | 20.8% | -232.0% | ||
| Q3 24 | -11.8% | -237.6% | ||
| Q2 24 | 42.8% | -155.4% | ||
| Q1 24 | 28.4% | -231.1% |
| Q4 25 | 3.6% | 21.4% | ||
| Q3 25 | 5.6% | 41.2% | ||
| Q2 25 | 3.2% | 9.3% | ||
| Q1 25 | 1.7% | 18.1% | ||
| Q4 24 | 3.3% | 1.2% | ||
| Q3 24 | 2.2% | 0.6% | ||
| Q2 24 | 5.3% | 4.5% | ||
| Q1 24 | 2.3% | 1.7% |
| Q4 25 | -0.29× | — | ||
| Q3 25 | 1.83× | — | ||
| Q2 25 | -0.05× | — | ||
| Q1 25 | -0.24× | — | ||
| Q4 24 | 1.44× | — | ||
| Q3 24 | -0.60× | — | ||
| Q2 24 | 2.85× | — | ||
| Q1 24 | 32.36× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FEIM
| POC Revenue | $14.8M | 86% |
| POT Revenue | $2.3M | 13% |
OCUL
Segment breakdown not available.
