vs
Side-by-side financial comparison of OCULAR THERAPEUTIX, INC (OCUL) and SOLESENCE, INC. (SLSN). Click either name above to swap in a different company.
OCULAR THERAPEUTIX, INC is the larger business by last-quarter revenue ($13.3M vs $12.5M, roughly 1.1× SOLESENCE, INC.). SOLESENCE, INC. runs the higher net margin — 1.3% vs -488.0%, a 489.3% gap on every dollar of revenue. On growth, SOLESENCE, INC. posted the faster year-over-year revenue change (-0.7% vs -22.4%). Over the past eight quarters, SOLESENCE, INC.'s revenue compounded faster (12.5% CAGR vs -5.3%).
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.
OCUL vs SLSN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.3M | $12.5M |
| Net Profit | $-64.7M | $163.0K |
| Gross Margin | 88.0% | 27.5% |
| Operating Margin | -526.5% | 1.5% |
| Net Margin | -488.0% | 1.3% |
| Revenue YoY | -22.4% | -0.7% |
| Net Profit YoY | -33.6% | 129.2% |
| EPS (diluted) | $-0.27 | $0.00 |
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 | $13.3M | $12.5M | ||
| Q3 25 | $14.5M | $14.6M | ||
| Q2 25 | $13.5M | $20.4M | ||
| Q1 25 | $10.7M | $14.6M | ||
| Q4 24 | $17.1M | $12.6M | ||
| Q3 24 | $15.4M | $16.9M | ||
| Q2 24 | $16.4M | $13.0M | ||
| Q1 24 | $14.8M | $9.9M |
| Q4 25 | $-64.7M | $163.0K | ||
| Q3 25 | $-69.4M | $-1.1M | ||
| Q2 25 | $-67.8M | $2.7M | ||
| Q1 25 | $-64.1M | $80.0K | ||
| Q4 24 | $-48.4M | $-559.0K | ||
| Q3 24 | $-36.5M | $3.0M | ||
| Q2 24 | $-43.8M | $856.0K | ||
| Q1 24 | $-64.8M | $893.0K |
| Q4 25 | 88.0% | 27.5% | ||
| Q3 25 | 87.8% | 23.1% | ||
| Q2 25 | 85.6% | 28.9% | ||
| Q1 25 | 88.2% | 23.1% | ||
| Q4 24 | 92.8% | 22.0% | ||
| Q3 24 | 89.9% | 36.2% | ||
| Q2 24 | 90.8% | 28.7% | ||
| Q1 24 | 91.0% | 36.3% |
| Q4 25 | -526.5% | 1.5% | ||
| Q3 25 | -472.3% | -5.4% | ||
| Q2 25 | -502.6% | 9.4% | ||
| Q1 25 | -597.5% | 1.8% | ||
| Q4 24 | -296.1% | -1.8% | ||
| Q3 24 | -298.2% | 19.0% | ||
| Q2 24 | -265.1% | 8.0% | ||
| Q1 24 | -214.0% | 11.3% |
| Q4 25 | -488.0% | 1.3% | ||
| Q3 25 | -477.3% | -7.7% | ||
| Q2 25 | -503.9% | 13.1% | ||
| Q1 25 | -598.7% | 0.5% | ||
| Q4 24 | -283.3% | -4.4% | ||
| Q3 24 | -236.6% | 18.1% | ||
| Q2 24 | -266.3% | 6.6% | ||
| Q1 24 | -438.9% | 9.0% |
| Q4 25 | $-0.27 | $0.00 | ||
| Q3 25 | $-0.38 | $-0.02 | ||
| Q2 25 | $-0.39 | $0.04 | ||
| Q1 25 | $-0.38 | $0.00 | ||
| Q4 24 | $-0.25 | $0.00 | ||
| Q3 24 | $-0.22 | $0.04 | ||
| Q2 24 | $-0.26 | $0.01 | ||
| Q1 24 | $-0.49 | $0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $737.1M | $1.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $654.3M | $17.6M |
| Total Assets | $808.1M | $50.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $737.1M | $1.3M | ||
| Q3 25 | $344.8M | $429.0K | ||
| Q2 25 | $391.1M | $4.1M | ||
| Q1 25 | $349.7M | $1.8M | ||
| Q4 24 | $392.1M | $1.4M | ||
| Q3 24 | $427.2M | $2.9M | ||
| Q2 24 | $459.7M | $2.4M | ||
| Q1 24 | $482.9M | $2.0M |
| Q4 25 | $654.3M | $17.6M | ||
| Q3 25 | $258.2M | $17.2M | ||
| Q2 25 | $305.9M | $18.2M | ||
| Q1 25 | $265.9M | $15.2M | ||
| Q4 24 | $315.3M | $14.9M | ||
| Q3 24 | $352.0M | $15.2M | ||
| Q2 24 | $377.7M | $11.9M | ||
| Q1 24 | $408.0M | $5.0M |
| Q4 25 | $808.1M | $50.1M | ||
| Q3 25 | $410.9M | $54.0M | ||
| Q2 25 | $451.3M | $60.0M | ||
| Q1 25 | $405.9M | $57.0M | ||
| Q4 24 | $457.9M | $50.0M | ||
| Q3 24 | $490.4M | $48.0M | ||
| Q2 24 | $517.1M | $40.8M | ||
| Q1 24 | $538.9M | $38.5M |
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 | $-54.2M | $1.8M |
| Free Cash FlowOCF − Capex | $-57.1M | — |
| FCF MarginFCF / Revenue | -430.9% | — |
| Capex IntensityCapex / Revenue | 21.4% | — |
| Cash ConversionOCF / Net Profit | — | 11.16× |
| TTM Free Cash FlowTrailing 4 quarters | $-216.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-54.2M | $1.8M | ||
| Q3 25 | $-50.7M | $-2.5M | ||
| Q2 25 | $-55.2M | $-654.0K | ||
| Q1 25 | $-44.7M | $-7.2M | ||
| Q4 24 | $-39.4M | $2.2M | ||
| Q3 24 | $-36.6M | $4.2M | ||
| Q2 24 | $-24.8M | $-565.0K | ||
| Q1 24 | $-33.9M | $-3.9M |
| Q4 25 | $-57.1M | — | ||
| Q3 25 | $-56.7M | — | ||
| Q2 25 | $-56.5M | — | ||
| Q1 25 | $-46.6M | — | ||
| Q4 24 | $-39.6M | $-404.0K | ||
| Q3 24 | $-36.6M | $2.8M | ||
| Q2 24 | $-25.5M | $-1.0M | ||
| Q1 24 | $-34.1M | $-3.9M |
| Q4 25 | -430.9% | — | ||
| Q3 25 | -390.0% | — | ||
| Q2 25 | -419.7% | — | ||
| Q1 25 | -435.6% | — | ||
| Q4 24 | -232.0% | -3.2% | ||
| Q3 24 | -237.6% | 16.6% | ||
| Q2 24 | -155.4% | -8.0% | ||
| Q1 24 | -231.1% | -39.9% |
| Q4 25 | 21.4% | — | ||
| Q3 25 | 41.2% | — | ||
| Q2 25 | 9.3% | — | ||
| Q1 25 | 18.1% | — | ||
| Q4 24 | 1.2% | 20.6% | ||
| Q3 24 | 0.6% | 8.3% | ||
| Q2 24 | 4.5% | 3.7% | ||
| Q1 24 | 1.7% | 0.9% |
| Q4 25 | — | 11.16× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.25× | ||
| Q1 25 | — | -90.26× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.38× | ||
| Q2 24 | — | -0.66× | ||
| Q1 24 | — | -4.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
