Lipocine Inc. revenue by segment LPCN

Annual Quarterly

Lipocine Inc. splits its revenue into 5 lines in its filings. The largest line in fiscal 2025, which ended Dec 31, 2025 was License at $1.5 million, 76% of the total.

USD in millions. The percent under a figure is the change from the year before.

Line	FY 2026 Sep 30, 2026	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	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018	FY 2017 Dec 31, 2017	FY 2016 Dec 31, 2016
Revenue	3	2	11	-3	0	16	0	0	0	—	—
License	—	2 -86.2% share 75.9%	11 +9810.3% share 97.3%	0 -78.0% share -3.9%	0 -95.5% share 100.0%	11 share 68.2%	—	—	—	—	—
Materials	—	—	—	—	—	1 share 6.4%	—	—	—	—	—
Royalty	—	0 +59.9% share 24.1%	0 share 2.7%	—	—	—	—	—	—	—	—
Sales Based Royalties	—	—	—	—	—	0 share 0.3%	—	—	—	—	—
Minimum Guaranteed Royalties	—	—	—	-3 share 103.9%	—	4 share 25.1%	—	—	—	—	—

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions. Each group is a separate split of total revenue, so the groups are not added together. Share of revenue is that line divided by total revenue. The first column adds the latest year-to-date segment amount to the last fiscal year and subtracts the year-ago year-to-date amount. More on our methodology.

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)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.