FY2025 · ended Dec 31, 2025 · Revenue $1.98M, -82.3% YoY · Filed Mar 10, 2026
Lipocine Inc. (LPCN) files with the SEC under industry code 2834, Pharmaceutical Preparations. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $2.0 million and a net loss of $9.6 million.
Revenue (TTM)
$2.98M
-25.4% vs year-ago TTM
Net income (TTM)
$-9.33M
-70.4% vs year-ago TTM
Operating cash flow (TTM)
$-10.01M
-94.8% vs year-ago TTM
Free cash flow
$-1.31M
+89.0% vs prior year
EPS (TTM)
$-1.25
-24.0% vs year-ago TTM
Dividend per share
None
Shares outstanding
7.30M
+36.4% vs prior year
Net cash
$44.97M
FY 2021
Operating margin
-338.5%
FY 2026
Company profile
- Industry
- Pharmaceutical Preparations (SIC 2834)
- Listed as
- LPCN (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Salt Lake City, United States
- SEC filer status
- Non-accelerated filer, Smaller reporting company
- SEC CIK
- 1535955
- Former names
- MARATHON BAR CORP (until Jul 9, 2013)
Other Pharmaceutical Preparations companies
- ELI LILLY & Co LLY
- Johnson & Johnson JNJ
- AbbVie Inc. ABBV
- Merck & Co., Inc. MRK
- Novartis AG NVS
- Astrazeneca PLC AZN
- Abbott Laboratories ABT
- Novo Nordisk A S NVO
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $2.0M | $11.2M | -$2.9M | $500,000 | $16.1M |
| Operating income | -$10.4M | -$1.2M | -$17.9M | -$12.1M | $3.1M |
| Net income | -$9.6M | $8,352 | -$16.4M | -$10.8M | -$634,399 |
| Diluted EPS | -$1.69 | — | -$3.14 | -$2.15 | -$0.01 |
| Operating cash flow | -$9.8M | -$1.2M | -$11.9M | -$12.0M | -$4.4M |
| Free cash flow | — | -$1.3M | -$11.9M | -$12.1M | -$4.4M |
| Total assets | $17.0M | $22.5M | $23.0M | $37.5M | $52.5M |
| Total liabilities | $2.5M | $1.5M | $2.6M | $1.9M | $6.9M |
| Stockholders' equity | $14.5M | $21.0M | $20.4M | $35.6M | $45.6M |
| Cash and investments | $14.9M | $21.6M | $22.0M | $32.5M | $46.6M |
| Total debt | — | — | — | — | $1.7M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 8-K |
Current report
Other events
|
Oct 20, 2026 | Oct 20, 2026 |
| 8-K |
Current report
Other events
|
Oct 7, 2026 | Oct 7, 2026 |
| 8-K |
Current report
Other events
|
Sep 16, 2026 | Sep 16, 2026 |
| 8-K |
Current report
Other events
|
Sep 14, 2026 | Sep 14, 2026 |
| 8-K |
Current report
Other events
|
Sep 11, 2026 | Sep 8, 2026 |
| 8-K |
Current report
Other events
|
Sep 10, 2026 | Sep 10, 2026 |
All 821 Lipocine Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.