Outlook Therapeutics, Inc. (OTLK) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q3 FY2026, filed Aug 18, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the OTLK SEC filings page.
Outlook Therapeutics, Inc. (OTLK) reported $1.4M in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).
Outlook Therapeutics’ reported revenue remains small, while external financing supports an operating structure dominated by development and overhead costs.
In FY2025, operating cash flow was-$51.8M versus a net loss of$62.4M , so the accounting loss did not translate one-for-one into cash outflow. Compared with FY2024, both measures improved, but the lack of meaningful revenue scale indicates reduced cash drain rather than a commercially scaled operating model.
R&D and SG&A were
Total liabilities of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Outlook Therapeutics, Inc.'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.
Outlook Therapeutics, Inc. held $8.1M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $51.8M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Outlook Therapeutics, Inc. scores 8/100 among other emerging companies.
Outlook Therapeutics, Inc. had 64M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Outlook Therapeutics, Inc. scores 86/100 among other emerging companies.
Outlook Therapeutics, Inc. spent $27.2M on research and development in fiscal year 2025, which was 39.7% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Outlook Therapeutics, Inc. scores 70/100 among other emerging companies.
Not available for Outlook Therapeutics, Inc., and counted as zero in the overall score.
Outlook Therapeutics, Inc.'s operations used $51.8M of cash in fiscal year 2025, against $68.8M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Outlook Therapeutics, Inc. scores 36/100 among other emerging companies.
Outlook Therapeutics, Inc.'s cash, cash equivalents and investments came to $8.1M at the end of fiscal year 2025, against $50.8M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Outlook Therapeutics, Inc. scores 23/100 among other emerging companies.
Outlook Therapeutics, Inc. scores -57.61, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($142.4M) relative to total liabilities ($50.8M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Outlook Therapeutics, Inc. passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Outlook Therapeutics, Inc. reported a net loss of $62.4M while operations used $51.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Outlook Therapeutics, Inc. reported an operating loss of $67.1M against $283K 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
Outlook Therapeutics, Inc. generated $9K in revenue in Q3 2026. This represents a decrease of 99.4% from the same quarter a year earlier. Against the prior quarter it is down 93.2%.
Outlook Therapeutics, Inc.'s EBITDA was -$10.8M in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 31.3% from the same quarter a year earlier. Against the prior quarter it is up 22.9%.
Outlook Therapeutics, Inc. reported -$20.3M in net income in Q3 2026. This represents a decrease of 0.8% from the same quarter a year earlier. Against the prior quarter it is down 356.3%.
Cash & Balance Sheet
Outlook Therapeutics, Inc. held $11.2M in cash as of Q3 2026; long-term debt is not reported for that period.
Not reported for Q3 2026.
Not reported for Q3 2026.
Margins & Returns
Outlook Therapeutics, Inc.'s gross margin was -95.0% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is down 165.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 77.8 percentage points.
Not shown for Q3 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q3 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q3 2026.
Capital Allocation
Outlook Therapeutics, Inc. invested $3.3M in research and development in Q3 2026. This represents a decrease of 54.4% from the same quarter a year earlier. Against the prior quarter it is down 27.8%.
Not reported for Q3 2026.
Not reported for Q3 2026.
OTLK Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $9K-99.4% | $127K | N/A | N/A | $1.5M | N/A | N/A | N/A |
| Cost of Revenue | $17K-96.1% | $149K | $30K | N/A | $440K | N/A | N/A | N/A |
| Gross Profit | -$8K-100.8% | -$22K | -$1.2M | N/A | $1.1M | N/A | N/A | N/A |
| R&D Expenses | $3.3M-54.4% | $4.5M+2.1% | $3.6M-62.4% | N/A | $7.1M-36.3% | $4.4M-67.4% | $9.7M+113.3% | N/A |
| SG&A Expenses | $7.6M-22.0% | $9.5M+19.0% | $8.6M-27.9% | N/A | $9.7M+15.8% | $8.0M+47.0% | $11.9M+106.2% | N/A |
| Operating Income | -$10.8M+31.4% | -$14.0M-13.2% | -$13.5M+37.6% | N/A | -$15.7M+19.5% | -$12.4M+34.6% | -$21.6M-109.3% | N/A |
| EBITDA | -$10.8M+31.3% | -$14.0M-13.2% | -$13.5M+37.7% | N/A | -$15.7M+19.5% | -$12.4M+34.6% | -$21.6M-109.6% | N/A |
| Interest Expense | $7+100.0% | $3+100.0% | $0-100.0% | N/A | -$49K-112.2% | -$19K+99.4% | $49K-74.1% | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | $3K0.0% | N/A | N/A |
| Net Income | -$20.3M-0.8% | -$4.5M+90.4% | -$23.1M-232.7% | N/A | -$20.2M-145.4% | -$46.4M+59.4% | $17.4M+255.5% | N/A |
| EPS (Basic) | -$0.15+72.7% | -$0.05+96.7% | -$0.38-152.8% | -$0.19-125.0% | -$0.55-128.8% | -$1.50+81.3% | $0.72+183.7% | $0.76+1620.0% |
| EPS (Diluted) | -$0.15 | -$0.05 | -$0.38 | -$0.19 | -$0.55 | -$1.50 | $0.72 | $0.76 |
| Diluted Shares (Avg) | 137M | 82M | 60M | N/A | 37M | 31M | 24M | N/A |
OTLK Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $26.2M+16.9% | $21.9M+14.8% | $18.2M+7.2% | $18.6M-35.5% | $22.4M-52.5% | $19.1M-67.7% | $17.0M-21.6% | $28.8M-10.8% |
| Current Assets | $23.2M+9.8% | $20.9M+17.4% | $17.2M+9.6% | $17.4M-36.6% | $21.1M-53.8% | $17.8M-69.2% | $15.7M-23.2% | $27.4M-11.5% |
| Cash & Equivalents | $11.2M+26.3% | $7.7M+2.5% | $8.7M+52.2% | $8.1M-45.9% | $8.9M-72.2% | $7.6M-84.0% | $5.7M-44.9% | $14.9M-36.2% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $5.0M+22.2% | $3.3M-7.2% | $3.5M+11.2% | $3.3M | $4.1M | $3.6M | $3.1M | N/A |
| Accounts Receivable | $1.6M-6.1% | $2.7M | $115K | $1.5M | $1.8M | N/A | N/A | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $36.6M-38.6% | $50.9M-1.3% | $56.8M-15.6% | $50.8M-50.2% | $59.6M-54.4% | $51.5M-73.3% | $67.3M+46.2% | $101.9M+118.0% |
| Current Liabilities | $28.7M-8.9% | $38.9M+56.6% | $49.1M+1.7% | $45.8M+7.7% | $31.5M-26.0% | $24.8M-54.1% | $48.2M+4.9% | $42.6M-8.9% |
| Non-Current Liabilities | $7.9M-71.9% | $12.0M-55.1% | $7.7M-59.4% | $5.0M-91.6% | $28.1M-68.2% | $26.7M-80.8% | $19.1M+31899.5% | $59.3M+954168.1% |
| Total Equity | -$10.4M+72.1% | -$29.0M+10.7% | -$38.5M+23.3% | -$32.2M+56.0% | -$37.2M+55.6% | -$32.5M+75.8% | -$50.3M-106.6% | -$73.1M-406.1% |
| Retained Earnings | -$653.5M-10.3% | -$633.2M-10.7% | -$628.8M-19.6% | -$605.7M-11.5% | -$592.4M-7.9% | -$572.3M+3.6% | -$525.9M-9.8% | -$543.3M-16.1% |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
OTLK Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$21.0M-76.5% | -$7.8M+52.8% | -$14.9M-36.2% | -$12.4M+27.1% | -$11.9M+39.0% | -$16.6M+13.9% | -$11.0M+15.8% | -$17.0M-33.3% |
| Depreciation & Amortization | $14K-53.1% | $30K+4.5% | $30K+4.4% | $30K+3.3% | $29K+2.6% | $29K+3.2% | $29K+2.1% | $29K+156.7% |
| Stock-Based Compensation | $792K-52.6% | $757K-55.5% | $881K-76.0% | N/A | $1.7M+19.7% | $1.7M+30.0% | $3.7M+188.6% | N/A |
| Financing Cash Flow | $26.6M+100.9% | $6.9M-62.6% | $15.5M+791.5% | $11.6M+10155.7% | $13.2M+207.5% | $18.4M-67.2% | $1.7M+54840.0% | -$115K-104.7% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Investing Cash Flow, Dividends Paid, Share Buybacks.
OTLK Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -95.0%-165.8pp | -17.2% | N/A | N/A | 70.8% | N/A | N/A | N/A |
| Operating Margin | -124255.3% | -11006.8% | N/A | N/A | -1046.2% | N/A | N/A | N/A |
| Net Margin | -233554.8% | -3494.3% | N/A | N/A | -1338.8% | N/A | N/A | N/A |
| Return on Assets | -77.6%+12.4pp | -20.3%+222.7pp | -126.4%-228.6pp | N/A | -90.0%-184.3pp | -243.0%-49.4pp | 102.2%+153.7pp | N/A |
| Current Ratio | 0.81+0.1x | 0.54-0.2x | 0.350.0x | 0.38-0.3x | 0.67-0.4x | 0.72-0.4x | 0.32-0.1x | 0.640.0x |
| Asset Turnover | 0.00-0.1x | 0.01 | N/A | N/A | 0.07 | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity, FCF Margin.
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.
Note: Shareholder equity is negative (-$32.2M), 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.
Note: The current ratio is below 1.0 (0.38), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Outlook Therapeutics, Inc. OTLK | FY2025 | $1.4M | -$62.4M | N/A | $142.4M | 37/100 |
| Verrica Pharmaceuticals Inc. VRCA | FY2025 | $35.6M | -$17.9M | -50.3% | $70.6M | 68/100 |
| PLUS THERAPEUTICS, Inc. PSTV | FY2025 | $5.2M | -$22.4M | N/A | $26.6M | 32/100 |
| Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock FBIOP | FY2025 | $63.3M | $37.0M | 58.5% | N/A | 28/100 |
| Radiopharm Theranostics Limited RADX | FY2025 | $3.6M | -$38.3M | N/A | $16.5M | 20/100 |
| CalciMedica, Inc. CALC | FY2025 | N/A | -$29.6M | N/A | $8.7M | — |
Where Outlook Therapeutics, Inc. Ranks
Frequently Asked Questions
What is Outlook Therapeutics, Inc.'s annual revenue?
Outlook Therapeutics, Inc. (OTLK) reported $1.4M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Outlook Therapeutics, Inc. profitable?
No, Outlook Therapeutics, Inc. (OTLK) reported a net income of -$62.4M in fiscal year 2025.
What is Outlook Therapeutics, Inc.'s EBITDA?
Outlook Therapeutics, Inc. (OTLK) had EBITDA of -$66.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Outlook Therapeutics, Inc.'s gross margin?
Outlook Therapeutics, Inc. (OTLK) had a gross margin of 4.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Outlook Therapeutics, Inc.'s operating cash flow?
Outlook Therapeutics, Inc. (OTLK) recorded an outflow of $51.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Outlook Therapeutics, Inc.'s total assets?
Outlook Therapeutics, Inc. (OTLK) had $18.6M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Outlook Therapeutics, Inc. spend on research and development?
Outlook Therapeutics, Inc. (OTLK) invested $27.2M in research and development during fiscal year 2025.
What is Outlook Therapeutics, Inc.'s current ratio?
Outlook Therapeutics, Inc. (OTLK) had a current ratio of 0.38 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Outlook Therapeutics, Inc.'s return on assets (ROA)?
Outlook Therapeutics, Inc. (OTLK) had a return on assets of -335.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Outlook Therapeutics, Inc.'s P/E ratio?
Outlook Therapeutics, Inc. (OTLK) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $142.4M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Outlook Therapeutics, Inc.'s price-to-sales ratio?
Outlook Therapeutics, Inc. (OTLK) trades at 101x sales, its market capitalization divided by revenue of $1.4M revenue, FY2025. The market capitalization is $142.4M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Outlook Therapeutics, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Outlook Therapeutics, Inc. (OTLK) held $8.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $51.8M over that year. Dividing the one by the other, the reported balance equals about 2 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Outlook Therapeutics, Inc.'s debt-to-equity ratio negative or not reported?
Outlook Therapeutics, Inc. (OTLK) has negative shareholder equity of -$32.2M 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.
What is Outlook Therapeutics, Inc.'s Altman Z-Score?
Outlook Therapeutics, Inc. (OTLK) has an Altman Z-Score of -57.61, 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 Outlook Therapeutics, Inc.'s Piotroski F-Score?
Outlook Therapeutics, Inc. (OTLK) has a Piotroski F-Score of 1 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Outlook Therapeutics, Inc.'s earnings high quality?
Outlook Therapeutics, Inc. (OTLK) reported a net loss of $62.4M while operations used $51.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Outlook Therapeutics, Inc. cover its interest payments?
Outlook Therapeutics, Inc. (OTLK) reported an operating loss of $67.1M against $283K 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.
How financially healthy is Outlook Therapeutics, Inc.?
Outlook Therapeutics, Inc. (OTLK) scores 37 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.