Omeros Financials

OMER

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

2/9

Omeros passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.95x

For every $1 of reported earnings, Omeros generates $0.95 in operating cash flow (-$148.8M OCF vs -$156.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-6.9x

Omeros earns $-6.9 in operating income for every $1 of interest expense (-$169.3M vs $24.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Omeros (OMER) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

N/A

EBITDA

-$168.3M

YoY-2.9%

Omeros's EBITDA was -$168.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 2.9% from the prior year.

Free Cash Flow

-$149.0M

YoY-300.5%

Omeros generated -$149.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 300.5% from the prior year.

Net Income

-$156.8M

YoY-33.1%

Omeros reported -$156.8M in net income in fiscal year 2024. This represents a decrease of 33.1% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$3.4M

YoY-52.1%

5Y CAGR+2.0%

10Y CAGR+25.4%

Omeros held $3.4M in cash against $164.9M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

58M

YoY-5.0%

5Y CAGR+1.4%

10Y CAGR+5.4%

Omeros had 58M shares outstanding in fiscal year 2024. This represents a decrease of 5.0% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$119.5M

YoY+4.1%

5Y CAGR+2.4%

10Y CAGR+9.6%

Omeros invested $119.5M in research and development in fiscal year 2024. This represents an increase of 4.1% from the prior year.

Share Buybacks

$11.9M

YoY+154.6%

Omeros spent $11.9M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 154.6% from the prior year.

Capital Expenditures

$165K

YoY-61.3%

5Y CAGR-13.2%

10Y CAGR+19.4%

Omeros invested $165K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 61.3% from the prior year.

OMER Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	N/A	N/A	N/A	$73.8M-34.0%	$111.8M
Cost of Revenue	N/A	N/A	N/A	N/A	$902K+4.3%	$865K
Gross Profit	N/A	N/A	N/A	N/A	$72.9M-34.3%	$110.9M
R&D Expenses	$119.5M+4.1%	$114.9M+1.9%	$112.7M-5.1%	$118.8M+10.4%	$107.6M+1.2%	$106.3M
SG&A Expenses	$49.7M+0.2%	$49.7M-2.0%	$50.7M-7.6%	$54.8M+11.2%	$49.3M+24.2%	$39.7M
Operating Income	-$169.3M-2.9%	-$164.5M-0.7%	-$163.4M+5.9%	-$173.6M-10.6%	-$156.9M-7.5%	-$146.0M
Interest Expense	$24.7M-20.0%	$30.8M+35.9%	$22.7M+15.4%	$19.7M-26.5%	$26.8M+18.1%	$22.7M
Income Tax	$2.3M	$0	$0	$0+100.0%	-$23.3M-17.6%	-$19.8M
Net Income	-$156.8M-33.1%	-$117.8M-348.5%	$47.4M-75.6%	$194.2M+240.7%	-$138.1M-63.4%	-$84.5M
EPS (Diluted)	N/A	N/A	$0.76-75.6%	$3.12+229.5%	$-2.41-40.9%	$-1.71

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$30.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$333K
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$29.7M
R&D Expenses	$16.0M-33.6%	$24.1M	N/A	$31.7M	N/A	$38.6M	N/A	$25.8M
SG&A Expenses	$10.4M-8.2%	$11.3M	N/A	$16.4M	N/A	$12.2M	N/A	$14.0M
Operating Income	-$26.4M+25.5%	-$35.4M	N/A	-$48.2M	N/A	-$50.8M	N/A	-$39.8M
Interest Expense	-$13.4M-429.6%	$4.1M	N/A	$7.9M	N/A	$4.9M	N/A	$4.9M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$30.9M+4.1%	-$32.2M	N/A	-$37.8M	N/A	-$17.5M	N/A	-$22.7M
EPS (Diluted)	$-0.47+16.1%	$-0.56	N/A	$-0.59	N/A	$-0.28	N/A	$-0.36

OMER Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$277.1M-26.8%	$378.3M-36.0%	$591.0M+41.0%	$419.3M+131.6%	$181.0M+32.2%	$137.0M
Current Assets	$134.1M-38.4%	$217.9M-50.8%	$443.2M+78.8%	$248.0M+63.9%	$151.3M+45.8%	$103.7M
Cash & Equivalents	$3.4M-52.1%	$7.1M-35.5%	$11.0M-89.1%	$100.8M+860.0%	$10.5M+240.5%	$3.1M
Inventory	N/A	N/A	N/A	N/A	$1.4M+18.1%	$1.1M
Accounts Receivable	N/A	N/A	N/A	$35.5M+840.6%	$3.8M-89.2%	$35.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$459.7M+14.0%	$403.3M-20.2%	$505.3M+27.8%	$395.5M+31.0%	$301.8M+22.7%	$246.0M
Current Liabilities	$79.5M+49.2%	$53.3M-60.9%	$136.4M+163.3%	$51.8M+41.0%	$36.7M-33.8%	$55.5M
Long-Term Debt	$164.9M-22.6%	$213.2M-32.4%	$315.3M+0.6%	$313.5M+32.7%	$236.3M+49.3%	$158.2M
Total Equity	-$182.6M-630.9%	-$25.0M-129.2%	$85.7M+260.3%	$23.8M+119.7%	-$120.8M-10.8%	-$109.0M
Retained Earnings	-$910.3M-20.8%	-$753.5M-18.5%	-$635.7M+6.9%	-$683.1M+21.7%	-$872.7M-18.8%	-$734.6M

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Total Assets	$185.7M-33.0%	$277.1M-26.8%	$378.3M-23.3%	$493.1M-16.6%	$591.0M+29.2%	$457.6M+9.1%	$419.3M+239.7%	$123.4M
Current Assets	$71.8M-46.5%	$134.1M-38.4%	$217.9M-38.0%	$351.3M-20.7%	$443.2M+53.6%	$288.5M+16.4%	$248.0M+171.4%	$91.3M
Cash & Equivalents	$2.4M-29.6%	$3.4M-52.1%	$7.1M-76.8%	$30.6M+178.3%	$11.0M-92.4%	$145.5M+44.4%	$100.8M+1259.5%	$7.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$712K
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	$13.1M-63.0%	$35.5M+5.5%	$33.6M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$406.2M-11.6%	$459.7M+14.0%	$403.3M-20.5%	$507.0M+0.3%	$505.3M+0.3%	$503.9M+27.4%	$395.5M+2.4%	$386.1M
Current Liabilities	$80.8M+1.5%	$79.5M+49.2%	$53.3M-63.8%	$147.2M+7.9%	$136.4M+245.2%	$39.5M-23.7%	$51.8M+21.0%	$42.8M
Long-Term Debt	$154.9M-6.1%	$164.9M-22.6%	$213.2M-32.7%	$316.7M+0.5%	$315.3M+0.1%	$314.8M+0.4%	$313.5M+0.1%	$313.0M
Total Equity	-$220.5M-20.7%	-$182.6M-630.9%	-$25.0M-79.1%	-$14.0M-116.3%	$85.7M+285.0%	-$46.3M-294.8%	$23.8M+109.1%	-$262.7M
Retained Earnings	-$1.0B-9.9%	-$910.3M-20.8%	-$753.5M-1.2%	-$744.5M-17.1%	-$635.7M+16.8%	-$764.5M-11.9%	-$683.1M+29.1%	-$963.8M

OMER Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$148.8M-299.1%	$74.7M+186.4%	-$86.5M+21.2%	-$109.7M-9.6%	-$100.1M-66.6%	-$60.1M
Capital Expenditures	$165K-61.3%	$426K+277.0%	$113K-59.2%	$277K-2.1%	$283K-15.3%	$334K
Free Cash Flow	-$149.0M-300.5%	$74.3M+185.8%	-$86.6M+21.3%	-$110.0M-9.6%	-$100.4M-66.2%	-$60.4M
Investing Cash Flow	$82.2M+199.5%	$27.5M+121.5%	-$127.6M-165.9%	$193.7M+389.0%	-$67.0M-1870.9%	-$3.4M
Financing Cash Flow	$62.9M+159.3%	-$106.1M-185.4%	$124.2M+1866.3%	$6.3M-96.4%	$174.5M+187.5%	$60.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$11.9M+154.6%	$4.7M	$0	$0	N/A	N/A

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Operating Cash Flow	-$18.5M+36.3%	-$29.0M+16.8%	-$34.8M-6.7%	-$32.6M-28.6%	-$25.4M+4.0%	-$26.4M-45.1%	-$18.2M+23.0%	-$23.7M
Capital Expenditures	$11K-57.7%	$26K-78.0%	$118K+257.6%	$33K+153.8%	$13K+533.3%	-$3K-104.1%	$74K-28.2%	$103K
Free Cash Flow	-$18.5M+36.3%	-$29.0M+17.0%	-$34.9M-6.9%	-$32.7M-28.7%	-$25.4M+4.0%	-$26.4M-44.6%	-$18.3M+23.0%	-$23.8M
Investing Cash Flow	-$6.9M-119.6%	$35.0M-69.9%	$116.2M+103.3%	$57.2M+152.7%	-$108.5M-428.8%	$33.0M-70.6%	$112.4M+528.2%	$17.9M
Financing Cash Flow	$25.8M+730.6%	-$4.1M+96.1%	-$105.0M-21629.4%	-$483K+25.8%	-$651K-100.5%	$124.8M+15512.0%	-$810K-269.5%	$478K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0	$0-100.0%	$4.7M	$0	N/A	N/A	N/A	N/A

OMER Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	98.8%-0.4pp	99.2%
Operating Margin	N/A	N/A	N/A	N/A	-212.6%-82.0pp	-130.6%
Net Margin	N/A	N/A	N/A	N/A	-187.0%-111.5pp	-75.6%
Return on Equity	N/A	N/A	55.3%-761.5pp	816.8%	N/A	N/A
Return on Assets	-56.6%-25.4pp	-31.1%-39.2pp	8.0%-38.3pp	46.3%+122.6pp	-76.3%-14.6pp	-61.7%
Current Ratio	1.69-2.4	4.09+0.8	3.25-1.5	4.79+0.7	4.12+2.2	1.87
Debt-to-Equity	-0.90+7.6	-8.53-12.2	3.68-9.5	13.18+15.1	-1.96-0.5	-1.45
FCF Margin	N/A	N/A	N/A	N/A	-136.0%-81.9pp	-54.0%

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q4'21	Q3'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	98.9%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-132.7%
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-75.7%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-16.7%-6.4pp	-10.3%	N/A	-7.7%	N/A	-3.8%	N/A	-18.4%
Current Ratio	0.89-0.8	1.69-2.4	4.09+1.7	2.39-0.9	3.25-4.1	7.30+2.5	4.79+2.7	2.13
Debt-to-Equity	-0.70+0.2	-0.90+7.6	-8.53+14.2	-22.70-26.4	3.68+10.5	-6.80-20.0	13.18+14.4	-1.19
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-79.2%

Note: Shareholder equity is negative (-$182.6M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

Is Omeros profitable?

No, Omeros (OMER) reported a net income of -$156.8M in fiscal year 2024.

What is Omeros's EBITDA?

Omeros (OMER) had EBITDA of -$168.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Omeros have?

As of fiscal year 2024, Omeros (OMER) had $3.4M in cash and equivalents against $164.9M in long-term debt.

What is Omeros's free cash flow?

Omeros (OMER) generated -$149.0M in free cash flow during fiscal year 2024. This represents a -300.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Omeros's operating cash flow?

Omeros (OMER) generated -$148.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Omeros's total assets?

Omeros (OMER) had $277.1M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Omeros's capital expenditures?

Omeros (OMER) invested $165K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Omeros spend on research and development?

Omeros (OMER) invested $119.5M in research and development during fiscal year 2024.

Does Omeros buy back shares?

Yes, Omeros (OMER) spent $11.9M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Omeros have outstanding?

Omeros (OMER) had 58M shares outstanding as of fiscal year 2024.

What is Omeros's current ratio?

Omeros (OMER) had a current ratio of 1.69 as of fiscal year 2024, which is generally considered healthy.

What is Omeros's debt-to-equity ratio?

Omeros (OMER) had a debt-to-equity ratio of -0.90 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Omeros's return on assets (ROA)?

Omeros (OMER) had a return on assets of -56.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Omeros's cash runway?

Based on fiscal year 2024 data, Omeros (OMER) had $3.4M in cash against an annual operating cash burn of $148.8M. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Why is Omeros's debt-to-equity ratio negative or unusual?

Omeros (OMER) has negative shareholder equity of -$182.6M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Omeros's Piotroski F-Score?

Omeros (OMER) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Omeros's earnings high quality?

Omeros (OMER) has an earnings quality ratio of 0.95x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Omeros cover its interest payments?

Omeros (OMER) has an interest coverage ratio of -6.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.