Ocular Therapeutix, Inc. (OCUL) Earnings
Ocular Therapeutix, Inc. is expected to report next earnings on August 4, 2026 (in NaN days), with a consensus EPS estimate of $-0.40. OCUL has beaten EPS estimates in 3 of its last 12 reported quarters (average surprise -12.5% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $-0.32 | $-0.41 | -28.1% | $11M | -15.2% |
| Feb 5, 2026 | $-0.33 | $-0.29 | +12.1% | $13M | -17.8% |
| Mar 3, 2025 | $-0.24 | $-0.29 | -20.8% | $17M | -0.2% |
| Nov 14, 2024 | $-0.23 | $-0.26 | -13.0% | $15M | -8.7% |
| Mar 11, 2024 | $-0.28 | $-0.28 | +0.0% | $15M | -5.8% |
| Mar 6, 2023 | $-0.25 | $-0.24 | +4.0% | $14M | +4.0% |
| Feb 28, 2022 | $-0.23 | $-0.23 | +0.0% | $12M | -11.7% |
| May 5, 2021 | $-0.20 | $-0.24 | -20.0% | $7M | -24.8% |
| Mar 11, 2021 | $-0.18 | $-0.23 | -27.8% | $7M | — |
| Nov 5, 2020 | $-0.23 | $-0.17 | +26.1% | $6M | +202.8% |
| Aug 7, 2020 | $-0.32 | $-0.34 | -6.3% | $2M | +23.7% |
| May 8, 2020 | $-0.40 | $-0.41 | -2.5% | $3M | +10.8% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
2026 is off to a great start for Ocular Therapeutics. Xpaxly showed superiority to an approved anti-VEGF agent in a phase three wet AMD trial (SOL1) with a p-value of 0.0006 for the primary endpoint. It had unmatched durability, sustained disease control with fewer rescues, and 66% of patients had a single injection maintain vision for a year. Initiated enrollment in Solex long-term extension trial. Completed randomization of 631 subjects in SOLAR, exceeding the target, and accelerated guidance for SOL-R top-line data to first quarter 2027. Initiated enrollment in SOLEX open-label long-term extension study. Helios 3 trial in diabetic retinopathy ongoing. Plan to host investor day on June 17th with updates. Ended first quarter with $667 million in cash.
Guidance
Accelerated guidance for SOL-R top-line data to first quarter of 2027. Remain on track to submit NDA relying on SOL1 Week 52 data, subject to ongoing formal discussions with the FDA.
Analyst Q&A
Q: Fazeen Ahmed with Bank of America asked about discussions with FDA and timeline differences between applying with SO1 vs waiting for SOLAR.
A: Praveen Dougal said ongoing formal discussions with FDA, aligned with FDA's goals, SOL1 checks all boxes, SOLAR enrollment is efficient with no change in its progress.
Q: Piper Sandler's Barron asked about pre-NDA meetings with FDA and patient discontinuations/retention in SOL-R.
A: Praveen said not disclosing FDA meeting details, SOL-R has phenomenal retention rate like SOL-1.
Q: Tara Bancroft with TD Cowan asked about process ahead of filing and timing of SOL-X data.
A: Praveen said aligned with FDA's goals, SOL-X will provide long-term effectiveness data, details in June Investor Day.
Q: Sean McCutcheon with Raymond James asked about optionality of adding SOAR to safety database and risk of unmasking SOAR.
A: Praveen said no change to SOLAR, flexibility in safety database with SOLAR and Helios study.
Q: Lisa Walter with RBC Capital Markets asked about secondary endpoints in SOLAR and injection burden measurement.
A: Lisa said details in June Investor Day.
Q: John Wallenbehn with Citizens asked about feedback on integrating Xpaxly in practice and fixed dosing.
A: Praveen said Xpaxly will likely lead to fixed dosing, transforming wet AMD treatment, adoptability seamless.
Q: Yin Chin with HC Wainwright asked about patients dropping out of SO1 and enrolling in SOX.
A: Praveen said retention rate in SO1 is remarkable, enthusiasm is high.
Q: Lachlan Hanbury-Brown's Truman Dunkley asked about Helios 3 study and data for DME label.
A: Praveen said no specific proportion requirement, confident Helios 3 will cover broad label for diabetic retinopathy