Revenue: As of FY2026 Q2, the actual value is USD 13.48 M, beating the estimate of USD 13.2 M.

EPS: As of FY2026 Q2, the actual value is USD -0.35, beating the estimate of USD -0.394.

EBIT: As of FY2026 Q2, the actual value is USD -79.46 M.

Cash Position

Ocular Therapeutix, Inc. reported total cash and cash equivalents of $598.6 million as of June 30, 2026. The company anticipates this cash balance will support its operations, debt service, and capital expenditures into 2028.

Total Net Revenue

For the second quarter ended June 30, 2026, total net revenue was $13.475 million, compared to $13.459 million for the comparable quarter of 2025. For the six months ended June 30, 2026, total net revenue was $24.260 million, up from $24.156 million in the prior year period.

Product Revenue, Net

Net product revenue for the second quarter of 2026 was $13.475 million, a slight increase from $13.395 million in the second quarter of 2025. For the six months ended June 30, 2026, net product revenue was $24.260 million, compared to $24.028 million for the same period in 2025.

Collaboration Revenue

Collaboration revenue was $0.0 million for the second quarter of 2026, down from $0.064 million in the comparable quarter of 2025. For the six months ended June 30, 2026, collaboration revenue was $0.0 million, compared to $0.128 million in the prior year period.

Operating Expenses

• Cost of Product Revenue: This stood at $2.011 million for Q2 2026, up from $1.944 million in Q2 2025. For the six months ended June 30, 2026, it was $3.340 million, compared to $3.206 million in 2025.
• Research and Development (R&D) Expenses: R&D expenses increased to $54.138 million in Q2 2026 from $51.081 million in Q2 2025. For the six months ended June 30, 2026, R&D expenses were $120.351 million, an increase from $93.938 million in the prior year period.
• Selling and Marketing Expenses: These expenses rose to $17.276 million in Q2 2026 from $13.729 million in Q2 2025. For the six months ended June 30, 2026, selling and marketing expenses were $33.853 million, compared to $27.877 million in 2025.
• General and Administrative (G&A) Expenses: G&A expenses increased to $22.159 million in Q2 2026 from $14.346 million in Q2 2025. For the six months ended June 30, 2026, G&A expenses were $42.166 million, up from $30.694 million in the prior year period.

Loss from Operations

Loss from operations was -$82.109 million for Q2 2026, compared to -$67.641 million for Q2 2025. For the six months ended June 30, 2026, loss from operations was -$175.450 million, compared to -$131.559 million in the prior year period.

Net Loss

Ocular Therapeutix, Inc. reported a net loss of -$78.763 million for the second quarter of 2026, compared to a net loss of -$67.814 million for the comparable quarter of 2025. For the six months ended June 30, 2026, the net loss was -$167.375 million, compared to -$131.867 million for the same period in 2025.

Outstanding Shares

As of July 31, 2026, approximately 225.0 million common shares were outstanding.

Unique Operational Metrics

A new post-hoc analysis of SOL-1 data estimated up to a 72% reduction in treatment burden over 60 weeks with AXPAXLI compared to a projected on-label aflibercept (2 mg) dosing schedule every 8 weeks, excluding loading doses. When including loading doses, the estimated reduction in injection burden was 56% over the same period.

Outlook

Ocular Therapeutix, Inc. plans to submit the New Drug Application (NDA) for AXPAXLI in wet AMD in Q4 2026, following a pre-NDA meeting with the FDA in Q3 2026. Commercial readiness activities are advancing for a potential 2027 launch of AXPAXLI, if approved, with market research indicating strong physician interest and potential for premium pricing. The company’s cash balance is expected to fund operations into 2028, covering ongoing clinical trials and pre-commercial activities for AXPAXLI.