Opgen Financials
This page shows Opgen (OPGN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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).
CapForce’s FY2024 profit swing came mainly from a drastic cost reset, while the business still consumed cash.
Between FY2023 and FY2024, revenue added only$1.8M , but SG&A fell by$3.5M and R&D dropped by roughly$4.7M ; that is why operating results crossed into the black with just$325K of operating income. The more revealing contrast is that net income reached$12.0M while operating cash flow stayed at-$4.9M , so the headline profit did not come from cash-generating core operations.
The balance-sheet posture improved sharply in FY2024: liabilities fell from
Across FY2020-FY2023, revenue stayed in a narrow
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Opgen's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Opgen has an operating margin of 79.6%, meaning the company retains $80 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 6.3% the prior year.
Opgen's revenue surged 481.2% year-over-year to $30.2M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Opgen carries a low D/E ratio of 0.19, meaning only $0.19 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.
Opgen's current ratio of 0.22 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.
While Opgen generated -$1.2M in operating cash flow, capex of $50K consumed most of it, leaving -$1.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Opgen earns a strong 74.1% return on equity (ROE), meaning it generates $74 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 162.5% the prior year.
Opgen scores -6.74, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($4.3M) relative to total liabilities ($6.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Opgen passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Opgen generates $-0.05 in operating cash flow (-$1.2M OCF vs $23.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Opgen earns $2136.8 in operating income for every $1 of interest expense ($24.0M vs $11K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Opgen generated $30.2M in revenue in fiscal year 2025. This represents an increase of 481.2% from the prior year.
Opgen's EBITDA was $24.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 4748.9% from the prior year.
Opgen reported $23.6M in net income in fiscal year 2025. This represents an increase of 97.0% from the prior year.
Opgen earned $2.32 per diluted share (EPS) in fiscal year 2025. This represents an increase of 0.9% from the prior year.
Cash & Balance Sheet
Opgen generated -$1.2M in free cash flow in fiscal year 2025, representing cash available after capex.
Opgen held $531K in cash against $0 in long-term debt as of fiscal year 2025.
Opgen had 10M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Margins & Returns
Opgen's operating margin was 79.6% in fiscal year 2025, reflecting core business profitability. This is up 73.3 percentage points from the prior year.
Opgen's net profit margin was 78.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 152.6 percentage points from the prior year.
Opgen's ROE was 74.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 88.4 percentage points from the prior year.
Capital Allocation
Opgen invested $7K in research and development in fiscal year 2025. This represents a decrease of 86.5% from the prior year.
Opgen invested $50K in capex in fiscal year 2025, funding long-term assets and infrastructure.
OPGN Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | N/A | N/A | $4.0M | $0 | N/A | N/A | $28K |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $2K | N/A | N/A | N/A | N/A | N/A | $488-97.9% | $23K |
| SG&A Expenses | $798K | N/A | $702K+18.0% | $595K+15.9% | $513K | N/A | $769K-51.0% | $1.6M |
| Operating Income | -$805K | N/A | -$702K-120.6% | $3.4M+750.8% | -$523K | N/A | -$784K+49.3% | -$1.5M |
| Interest Expense | $995 | N/A | $4K+141.3% | $2K-49.9% | $3K | N/A | $3K+200.1% | $1K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$711K | N/A | -$609K-117.3% | $3.5M+960.0% | -$408K | N/A | $8.9M+666.6% | -$1.6M |
| EPS (Diluted) | $-0.06 | N/A | $-0.06-117.6% | $0.34+950.0% | $-0.04 | N/A | $1.35 | $-1.18 |
OPGN Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $37.5M-1.6% | $38.1M+201.1% | $12.6M-4.6% | $13.2M+40.6% | $9.4M-4.5% | $9.9M+80.3% | $5.5M+90.6% | $2.9M |
| Current Assets | $437K-55.8% | $988K-82.1% | $5.5M-9.7% | $6.1M+173.3% | $2.2M-15.5% | $2.6M-17.7% | $3.2M+461.7% | $573K |
| Cash & Equivalents | $79K-85.2% | $531K+28.3% | $414K-50.2% | $832K-25.3% | $1.1M-15.1% | $1.3M-19.7% | $1.6M+871.5% | $168K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $254K+2.0% | $249K-93.8% | $4.0M+0.1% | $4.0M+11745.8% | $34K+16.5% | $29K+19.9% | $24K-3.9% | $25K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $6.2M0.0% | $6.2M+149.8% | $2.5M-3.8% | $2.6M+9.0% | $2.4M-4.7% | $2.5M-0.1% | $2.5M-82.9% | $14.5M |
| Current Liabilities | $4.6M+1.2% | $4.6M+481.9% | $782K-5.4% | $827K+46.8% | $563K-11.1% | $634K+7.5% | $590K-95.3% | $12.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $31.3M-1.9% | $31.9M+213.6% | $10.2M-4.8% | $10.7M+51.2% | $7.1M-4.4% | $7.4M+147.2% | $3.0M+125.6% | -$11.7M |
| Retained Earnings | -$270.6M-0.3% | -$269.9M+7.3% | -$291.0M-0.2% | -$290.4M+1.2% | -$293.9M-0.1% | -$293.5M+1.5% | -$297.9M+2.9% | -$306.8M |
OPGN Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$364K-77.5% | -$205K+38.5% | -$333K+38.0% | -$538K-399.8% | -$108K+53.7% | -$232K+91.8% | -$2.8M-293.4% | -$720K |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | -$87K-121.0% | $414K+593.0% | -$84K-132.8% | $257K+384.2% | -$90K0.0% | -$90K-102.1% | $4.3M+592.3% | $621K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
OPGN Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | 85.1% | N/A | N/A | N/A | -5526.1% |
| Net Margin | N/A | N/A | N/A | 87.8% | N/A | N/A | N/A | -5629.8% |
| Return on Equity | -2.3% | N/A | -6.0%-38.9pp | 32.9%+38.7pp | -5.8% | N/A | 299.1% | N/A |
| Return on Assets | -1.9% | N/A | -4.8%-31.3pp | 26.5%+30.8pp | -4.3% | N/A | 163.3%+218.2pp | -54.9% |
| Current Ratio | 0.09-0.1 | 0.22-6.8 | 7.06-0.3 | 7.39+3.4 | 3.97-0.2 | 4.18-1.3 | 5.46+5.4 | 0.05 |
| Debt-to-Equity | 0.200.0 | 0.19-0.0 | 0.240.0 | 0.24-0.1 | 0.340.0 | 0.34-0.5 | 0.83+2.1 | -1.25 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: The current ratio is below 1.0 (0.22), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Opgen's annual revenue?
Opgen (OPGN) reported $30.2M in total revenue for fiscal year 2025. This represents a 481.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Opgen's revenue growing?
Opgen (OPGN) revenue grew by 481.2% year-over-year, from $5.2M to $30.2M in fiscal year 2025.
Is Opgen profitable?
Yes, Opgen (OPGN) reported a net income of $23.6M in fiscal year 2025, with a net profit margin of 78.2%.
What is Opgen's EBITDA?
Opgen (OPGN) had EBITDA of $24.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Opgen's operating margin?
Opgen (OPGN) had an operating margin of 79.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Opgen's net profit margin?
Opgen (OPGN) had a net profit margin of 78.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Opgen's return on equity (ROE)?
Opgen (OPGN) has a return on equity of 74.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Opgen's free cash flow?
Opgen (OPGN) generated -$1.2M in free cash flow during fiscal year 2025. 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 Opgen's operating cash flow?
Opgen (OPGN) generated -$1.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Opgen's total assets?
Opgen (OPGN) had $38.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Opgen's capital expenditures?
Opgen (OPGN) invested $50K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Opgen spend on research and development?
Opgen (OPGN) invested $7K in research and development during fiscal year 2025.
What is Opgen's current ratio?
Opgen (OPGN) had a current ratio of 0.22 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Opgen's debt-to-equity ratio?
Opgen (OPGN) had a debt-to-equity ratio of 0.19 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Opgen's return on assets (ROA)?
Opgen (OPGN) had a return on assets of 62.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Opgen's cash runway?
Based on fiscal year 2025 data, Opgen (OPGN) had $531K in cash against an annual operating cash burn of $1.2M. This gives an estimated cash runway of approximately 5 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.
What is Opgen's Altman Z-Score?
Opgen (OPGN) has an Altman Z-Score of -6.74, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Opgen's Piotroski F-Score?
Opgen (OPGN) 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Opgen's earnings high quality?
Opgen (OPGN) has an earnings quality ratio of -0.05x, 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 Opgen cover its interest payments?
Opgen (OPGN) has an interest coverage ratio of 2136.8x, meaning it can comfortably 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.
How financially healthy is Opgen?
Opgen (OPGN) scores 66 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.