Ocugen (OCGN) Balance Sheet: Assets & Liabilities

Ocugen (OCGN) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Ocugen reported total assets of $43.52M and total liabilities of $55.68M. Shareholders' equity was negative at −$12.17M, meaning liabilities exceed assets. Total debt stood at $28.79M against $18.57M in cash and short-term investments, a net debt position of $10.22M.

Ocugen Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Ocugen, Inc. (OCGN) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Mar 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	18.57	58.51	39.46	39.46	77.56	94.96	24.04	7.44	15.54	7.08
Short-Term Investments	0.00	0.00	0.00	-	13.37	0.00	0.00	0.00	0.00	0.90
Cash & Short-Term Investments	18.57	58.51	39.46	39.46	90.93	94.96	24.04	7.44	15.54	7.98
Accounts Receivable	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00
Inventory	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Assets	5.77	3.17	3.51	3.51	7.56	7.69	1.84	8.32	0.86	0.19
Total Current Assets	24.34	61.68	42.97	42.97	98.49	102.65	25.88	15.77	16.40	8.18
Non-Current Assets
Property, Plant & Equipment (Net)	14.39	16.55	17.29	17.29	6.05	1.16	1.07	0.22	0.14	2.72
Long-Term Investments	0.00	0.00	0.00	-	0.00	0.00	0.00	0.15	0.15	0.14
Other Non-Current Assets	4.78	4.21	4.29	4.29	4.09	1.95	0.43	0.67	0.74	0.00
Total Non-Current Assets	19.18	20.76	21.58	21.58	10.14	3.12	1.50	1.04	1.03	2.86
Total Assets	43.52	82.44	64.55	64.55	108.63	105.76	27.38	16.81	17.43	11.04
Current Liabilities
Accounts Payable	6.20	4.24	3.17	3.17	8.06	2.31	0.40	1.90	1.59	0.78
Short-Term Debt	1.25	1.33	0.57	-	0.50	0.36	0.23	0.17	0.00	0.18
Current Portion of Long-Term Debt	1.25	1.33	-	-	-	-	0.23	-	-	-
Accrued Liabilities	2.14	15.50	-	0.88	19.97	2.61	2.94	-	-	-
Deferred Revenue	5.91	8.37	10.53	10.53	11.22	0.00	0.00	2.27	10.00	2.02
Other Current Liabilities	3.39	2.82	2.82	0.15	8.75	0.29	2.94	0.21	1.28	2.85
Total Current Liabilities	23.04	21.59	17.09	17.09	28.53	7.00	3.61	4.54	2.87	3.81
Non-Current Liabilities
Long-Term Debt	27.54	27.35	6.37	2.80	5.88	1.71	1.82	1.24	1.02	0.00
Deferred Tax Liabilities	0.00	0.00	0.92	-	0.00	0.00	0.00	0.00	-1.02	0.00
Other Non-Current Liabilities	1.60	0.56	0.53	0.53	0.24	0.00	0.00	0.01	4.00	18.50
Total Non-Current Liabilities	32.64	31.22	6.89	6.89	6.12	2.94	2.21	1.25	15.01	18.50
Total Liabilities	55.68	52.81	23.98	23.98	34.65	9.94	5.83	5.79	17.89	22.30
Stockholders' Equity
Common Stock	3.13	2.92	2.57	2.57	2.22	2.00	1.84	0.53	0.51	0.16
Retained Earnings	-408.07	-340.22	-286.17	-286.17	-223.09	-131.67	-73.30	-51.48	-216.83	-208.19
Accumulated Other Comprehensive Income	0.06	0.05	0.02	0.02	0.03	0.00	0.00	0.00	-10.29	-10.92
Treasury Stock	0.05	0.05	-	0.05	0.05	0.05	-	-	-	-
Additional Paid-in Capital	392.76	366.89	324.14	324.19	294.83	225.54	93.01	61.97	215.86	196.76
Shares Outstanding	312.38	291.37	-	256.57	221.60	199.38	-	-	-	-
Total Stockholders' Equity	-12.17	29.63	40.56	40.56	73.98	95.82	21.55	11.02	-0.46	-11.27
Total Liabilities & Equity	43.52	82.44	64.55	64.55	108.63	105.76	27.38	16.81	17.43	11.04

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Ocugen Balance Sheet

How much debt does Ocugen have?

Ocugen had total debt of $28.79M as of Dec 31, 2025, against $18.57M in cash and short-term investments. Total debt was $28.67M a year earlier.

What are Ocugen's total assets?

Ocugen reported total assets of $43.52M as of Dec 31, 2025, down 47.2% from $82.44M a year earlier. Total liabilities were $55.68M.

What is Ocugen's shareholders' equity?

Ocugen's shareholders' equity was negative at −$12.17M as of Dec 31, 2025, so its liabilities exceeded its assets.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition