Omeros Financials
This page shows Omeros (OMER) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Spending cuts, not commercial scale, drove FY2025's narrower loss while negative equity kept the balance sheet constrained.
Operating loss in FY2025 nearly matched R&D plus SG&A, which means the business is still mostly funding a development platform rather than absorbing large production or distribution costs. That is why free cash flow tracked operating cash flow at-$116.2M , and why the positive cash blip in FY2023 reads as non-recurring rather than a durable cash engine.
The real improvement was cost compression, not scale: R&D fell to
Liquidity improved even as solvency remained weak: long-term debt was cut to
Financial Health Signals
Omeros does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Omeros reported an operating loss of $122.8M against $960K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Omeros's EBITDA was -$121.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 26.6% from the prior year.
Omeros earned -$0.05 per diluted share (EPS) in fiscal year 2025. This represents an increase of 98.1% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Omeros recorded an outflow of $116.2M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 22.0% from the prior year.
Omeros held $9.7M in cash against $87.9M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
None of these metrics is reported for fiscal year 2025.
Capital Allocation
Omeros invested $81.3M in research and development in fiscal year 2025. This represents a decrease of 32.0% from the prior year.
Omeros repurchased no shares in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Omeros invested $65K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 60.6% from the prior year.
OMER Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | $73.8M-34.0% | $111.8M+274.3% | $29.9M-53.9% | $64.8M+55.8% | $41.6M+208.1% | $13.5M+2406.3% | $539K-66.3% | $1.6M-73.4% | $6.0M+33.1% | $4.5M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | $902K+4.3% | $865K+68.9% | $512K-52.5% | $1.1M-23.7% | $1.4M+35.6% | $1.0M | $0 | $0 | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | $72.9M-34.3% | $110.9M+277.9% | $29.4M-53.9% | $63.7M+58.6% | $40.2M+222.5% | $12.5M+2213.2% | $539K-66.3% | $1.6M | N/A | N/A |
| R&D Expenses | N/A | $81.3M-32.0% | $119.5M+4.1% | $114.9M+1.9% | $112.7M-5.1% | $118.8M+10.4% | $107.6M+1.2% | $106.3M+18.3% | $89.9M+61.6% | $55.6M+9.7% | $50.7M+4.8% | $48.4M+0.9% | $47.9M+32.1% | $36.3M+13.7% | $31.9M+34.6% | $23.7M |
| SG&A Expenses | N/A | $41.5M-12.5% | $47.4M-4.5% | $49.7M-2.0% | $50.7M-7.6% | $54.8M+11.2% | $49.3M+24.2% | $39.7M-23.2% | $51.7M-0.6% | $52.0M+18.9% | $43.8M+23.9% | $35.3M+56.3% | $22.6M+42.9% | $15.8M+44.0% | $11.0M+33.7% | $8.2M |
| Operating Income | N/A | -$122.8M+26.4% | -$167.0M-1.5% | -$164.5M-0.7% | -$163.4M+5.9% | -$173.6M-10.6% | -$156.9M-7.5% | -$146.0M-30.1% | -$112.2M-155.7% | -$43.9M+19.1% | -$54.3M+23.8% | -$71.2M | N/A | -$50.5M-37.0% | -$36.9M-34.6% | -$27.4M |
| Interest Expense | N/A | -$960K-103.9% | $24.7M-20.0% | $30.8M+35.9% | $22.7M+15.4% | $19.7M-26.5% | $26.8M+18.1% | $22.7M+39.4% | $16.3M+47.3% | $11.0M+41.1% | $7.8M+118.8% | $3.6M+3.0% | $3.5M+46.7% | $2.4M+36.8% | $1.7M-8.2% | $1.9M |
| Income Tax | N/A | $2.0M-12.7% | $2.3M | $0 | $0 | $0+100.0% | -$23.3M-17.6% | -$19.8M-52.9% | -$12.9M | $0 | $0 | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A | N/A | $47.4M-75.6% | $194.2M+240.7% | -$138.1M-63.4% | -$84.5M+33.3% | -$126.8M-137.0% | -$53.5M+19.9% | -$66.7M+11.1% | -$75.1M | N/A | -$39.8M-3.5% | -$38.4M-34.7% | -$28.5M |
| EPS (Diluted) | — | -$0.05+98.1% | -$2.70-43.6% | -$1.88-347.4% | $0.76-75.6% | $3.12+229.5% | -$2.41-40.9% | -$1.71 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
OMER Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $325.6M+17.5% | $277.1M-26.8% | $378.3M-36.0% | $591.0M+41.0% | $419.3M+131.6% | $181.0M+32.2% | $137.0M+42.8% | $95.9M-17.5% | $116.3M+72.9% | $67.3M+37.3% | $49.0M+352.2% | $10.8M-34.5% | $16.5M-37.8% | $26.6M-1.5% | $27.0M |
| Current Assets | $215.7M+60.8% | $134.1M-38.4% | $217.9M-50.8% | $443.2M+78.8% | $248.0M+63.9% | $151.3M+45.8% | $103.7M+15.4% | $89.9M-17.1% | $108.4M+79.8% | $60.3M+62.2% | $37.1M+310.9% | $9.0M-39.0% | $14.8M-40.0% | $24.7M-4.8% | $25.9M |
| Cash & Equivalents | $9.7M+184.1% | $3.4M-52.1% | $7.1M-35.5% | $11.0M-89.1% | $100.8M+860.0% | $10.5M+240.5% | $3.1M-47.4% | $5.9M+72.7% | $3.4M+52.6% | $2.2M+62.9% | $1.4M+285.6% | $354K-74.4% | $1.4M-8.9% | $1.5M-62.0% | $4.0M |
| Inventory | $0 | N/A | N/A | N/A | N/A | $1.4M+18.1% | $1.1M+1203.4% | $88K-80.1% | $443K-60.7% | $1.1M+139.0% | $472K-16.9% | $568K | $0 | N/A | N/A |
| Accounts Receivable | $0 | N/A | N/A | N/A | $35.5M+840.6% | $3.8M-89.2% | $35.1M+54.8% | $22.7M+32.6% | $17.1M+43.1% | $11.9M+92.3% | $6.2M | $0 | N/A | N/A | N/A |
| Total Liabilities | $446.9M-2.8% | $459.7M+14.0% | $403.3M-20.2% | $505.3M+27.8% | $395.5M+31.0% | $301.8M+22.7% | $246.0M+25.4% | $196.1M+64.6% | $119.1M+13.8% | $104.7M+39.2% | $75.2M+40.6% | $53.5M+53.2% | $34.9M+5.5% | $33.1M+1.8% | $32.5M |
| Current Liabilities | $78.1M-1.8% | $79.5M+49.2% | $53.3M-60.9% | $136.4M+163.3% | $51.8M+41.0% | $36.7M-33.8% | $55.5M+48.5% | $37.4M+42.0% | $26.3M+63.7% | $16.1M-1.1% | $16.3M-11.3% | $18.3M+54.3% | $11.9M+42.0% | $8.4M-56.0% | $19.0M |
| Long-Term Debt | $87.9M-46.7% | $164.9M-22.6% | $213.2M-32.4% | $315.3M+0.6% | $313.5M+32.7% | $236.3M+49.3% | $158.2M | N/A | $84.1M+5.8% | $79.5M+59.8% | $49.8M+90.5% | $26.1M+75.3% | $14.9M-25.9% | $20.1M+48.4% | $13.6M |
| Total Equity | -$121.2M+33.6% | -$182.6M-630.9% | -$25.0M-129.2% | $85.7M+260.3% | $23.8M+119.7% | -$120.8M-10.8% | -$109.0M-8.9% | -$100.2M-3459.2% | -$2.8M+92.5% | -$37.4M-42.7% | -$26.2M+38.5% | -$42.7M-132.0% | -$18.4M-181.5% | -$6.5M-17.6% | -$5.6M |
| Retained Earnings | -$913.7M-0.4% | -$910.3M-20.8% | -$753.5M-18.5% | -$635.7M+6.9% | -$683.1M+21.7% | -$872.7M-18.8% | -$734.6M-13.0% | -$650.1M-24.2% | -$523.4M-11.4% | -$469.9M-16.6% | -$403.1M-22.9% | -$328.0M-29.0% | -$254.4M-18.5% | -$214.6M-21.8% | -$176.1M |
Not reported in any period shown, so not listed: Goodwill.
OMER Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$68.7M | -$116.1M+22.0% | -$148.8M-299.1% | $74.7M+186.4% | -$86.5M+21.2% | -$109.7M-9.6% | -$100.1M-66.6% | -$60.1M+42.1% | -$103.7M-186.4% | -$36.2M+29.7% | -$51.5M+21.0% | -$65.2M | N/A | -$29.7M+14.1% | -$34.6M-34.6% | -$25.7M |
| Capital Expenditures | $56K | $65K-60.6% | $165K-61.3% | $426K+277.0% | $113K-59.2% | $277K-2.1% | $283K-15.3% | $334K-41.1% | $567K+62.0% | $350K+177.8% | $126K-47.5% | $240K+757.1% | $28K-86.3% | $204K-68.2% | $642K-48.3% | $1.2M |
| Free Cash Flow | -$68.7M | -$116.2M+22.0% | -$149.0M-300.5% | $74.3M+185.8% | -$86.6M+21.3% | -$110.0M-9.6% | -$100.4M-66.2% | -$60.4M+42.1% | -$104.3M-185.2% | -$36.6M+29.2% | -$51.6M+21.1% | -$65.4M | N/A | -$29.9M+15.0% | -$35.2M-30.8% | -$26.9M |
| Investing Cash Flow | $136.8M | $164.5M+100.1% | $82.2M+199.5% | $27.5M+121.5% | -$127.6M-165.9% | $193.7M+389.0% | -$67.0M-1870.9% | -$3.4M-113.5% | $25.2M+166.9% | -$37.6M-130.2% | -$16.3M+20.7% | -$20.6M-434.7% | $6.2M-22.2% | $7.9M+972.0% | -$907K-105.4% | $16.9M |
| Financing Cash Flow | -$68.1M | -$42.2M-167.1% | $62.9M+159.3% | -$106.1M-185.4% | $124.2M+1866.3% | $6.3M-96.4% | $174.5M+187.5% | $60.7M-25.1% | $81.1M+8.1% | $75.0M+9.2% | $68.7M-20.9% | $86.8M+70.7% | $50.9M+134.9% | $21.6M-34.3% | $33.0M+247.6% | $9.5M |
| Share Buybacks | $9.9M | $0-100.0% | $11.9M+154.6% | $4.7M | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
OMER Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | 98.8%-0.4pp | 99.2%+0.9pp | 98.3%-0.1pp | 98.3%+1.7pp | 96.6%+4.3pp | 92.3%-7.7pp | 100.0%0.0pp | 100.0% | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | -212.6% | -130.6% | -375.7% | -67.7% | -130.4% | -527.3% | N/A | -3157.3% | -612.5% | -605.9% |
| Net Margin | N/A | N/A | N/A | N/A | N/A | -187.0% | -75.6% | -424.4% | -82.5% | -160.4% | -555.9% | N/A | -2487.3% | -638.4% | -631.0% |
| Return on Equity | N/A | N/A | N/A | 55.3%-761.5pp | 816.8% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | N/A | 8.0%-38.3pp | 46.3%+122.6pp | -76.3%-14.6pp | -61.7%+70.4pp | -132.1%-86.2pp | -46.0%+53.2pp | -99.2%+54.1pp | -153.3% | N/A | -240.7%-96.0pp | -144.7%-38.9pp | -105.8% |
| Current Ratio | 2.76+1.1x | 1.69-2.4x | 4.09+0.8x | 3.25-1.5x | 4.79+0.7x | 4.12+2.2x | 1.87-0.5x | 2.41-1.7x | 4.12+0.4x | 3.75+1.5x | 2.29+1.8x | 0.49-0.8x | 1.25-1.7x | 2.95+1.6x | 1.37 |
| Debt-to-Equity | N/A | N/A | N/A | 3.68-9.5x | 13.18 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | -136.0% | -54.0% | -349.2% | -56.4% | -124.1% | -484.5% | N/A | -1868.7% | -584.4% | -594.8% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$121.2M), 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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Where Omeros Ranks
Frequently Asked Questions
What is Omeros's EBITDA?
Omeros (OMER) had EBITDA of -$121.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Omeros have?
As of fiscal year 2025, Omeros (OMER) had $9.7M in cash and equivalents against $87.9M in long-term debt.
What is Omeros's free cash flow?
Omeros (OMER) recorded an outflow of $116.2M in free cash flow during fiscal year 2025. This represents a 22.0% 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) recorded an outflow of $116.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Omeros's total assets?
Omeros (OMER) had $325.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Omeros's capital expenditures?
Omeros (OMER) invested $65K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Omeros spend on research and development?
Omeros (OMER) invested $81.3M in research and development during fiscal year 2025.
What is Omeros's current ratio?
Omeros (OMER) had a current ratio of 2.76 as of fiscal year 2025, which is generally considered healthy.
What is Omeros's cash runway?
Based on fiscal year 2025 data, Omeros (OMER) had $9.7M in cash against an annual operating cash burn of $116.1M. This gives an estimated cash runway of approximately 1 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 not reported?
Omeros (OMER) has negative shareholder equity of -$121.2M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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.
Can Omeros cover its interest payments?
Omeros (OMER) reported an operating loss of $122.8M against $960K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.