EyePoint Inc
EYPTHealthcare|Biotechnology|USA
$14.72
-0.12 (-0.81%)
Tangible Book
$2.76
Financials
Financial Snapshot
Market Cap
$1.23B
Enterprise Value
$202.3M
Revenue (TTM)
$7.6M
Net Income (TTM)
$-271.6M
Cash & Equivalents
—
Net Cash/Share
$1.97
Free Cash Flow (TTM)
$-271.5M
Operating CF (TTM)
$-267.5M
Debt/Equity
0.09
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$66.9M
Monthly Burn
$22.3M
Est. Runway
—
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $29.0M | $16.9M | $38.8M | $22.2M | $44.9M | $211.6M | $144.6M | $331.1M | $370.9M | $306.1M | $222.5M | |
| Operating Cash Flow | $-16.3M | $-20.5M | $-21.9M | $-56.7M | $-14.4M | $-50.1M | $-65.0M | $1.9M | $-126.2M | $-240.1M | $-267.5M | |
| Free Cash Flow | $-16.4M | $-20.6M | $-22.0M | $-56.9M | $-14.8M | $-50.3M | $-67.2M | $-1.6M | $-130.3M | $-243.4M | $-271.5M | |
| Capital Expenditure | $-113.0K | $-147.0K | $-108.0K | $-213.0K | $-362.0K | $-156.0K | $-2.1M | $-3.5M | $-4.1M | $-3.3M | $-4.0M | |
| Financing Cash Flow | $17.0M | $8.5M | $60.7M | $33.9M | $37.5M | $216.9M | $-690.0K | $187.1M | $164.0M | $173.6M | $172.0M |
R&D Spending
R&D (TTM)
$234.6M
R&D Intensity
3080.9%
R&D Growth YoY
+6.1%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6M | $7.5M | $3.0M | $20.4M | $34.4M | $36.9M | $41.4M | $46.0M | $43.3M | $31.4M | $7.6M | |
| R&D Expense | $14.4M | $14.9M | $16.2M | $15.4M | $17.4M | $28.5M | $49.6M | $64.7M | $132.9M | $221.0M | $234.6M | |
| R&D % of Revenue | 887.7% | 197.4% | 546.4% | 75.5% | 50.6% | 77.2% | 119.9% | 140.5% | 307.2% | 704.6% | 3080.9% | |
| SG&A | $9.0M | $11.2M | $13.1M | $47.7M | $46.0M | $53.1M | $60.3M | $51.8M | $52.5M | $51.7M | $53.0M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6M | $7.5M | $3.0M | $20.4M | $34.4M | $36.9M | $41.4M | $46.0M | $43.3M | $31.4M | $7.6M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $2.7M | $5.8M | $8.2M | $8.3M | $4.6M | $3.7M | $2.1M | $1.8M | |
| Gross Profit | $1.6M | $7.5M | $3.0M | $17.7M | $28.6M | $28.8M | $33.1M | $41.4M | $39.6M | $29.3M | $5.8M | |
| R&D | $14.4M | $14.9M | $16.2M | $15.4M | $17.4M | $28.5M | $49.6M | $64.7M | $132.9M | $221.0M | $234.6M | |
| SG&A | $9.0M | $11.2M | $13.1M | $47.7M | $46.0M | $53.1M | $60.3M | $51.8M | $52.5M | $51.7M | $53.0M | |
| Operating Income | $-21.8M | $-18.6M | $-26.3M | $-47.9M | $-37.3M | $-55.3M | $-78.9M | $-75.1M | $-145.9M | $-243.4M | $-281.8M | |
| Interest Expense | $0.00 | $0.00 | $-720.0K | $-6.2M | $-7.3M | $-5.5M | $-3.2M | $-1.2M | $-14.0K | $-33.0K | $-33.0K | |
| Pretax Income | $-21.7M | $-18.5M | $-53.2M | $-56.8M | $-45.4M | $-58.4M | $-102.3M | $-70.7M | $-130.8M | $-231.7M | $-271.4M | |
| Net Income | $-21.5M | $-18.5M | $-53.2M | $-56.8M | $-45.4M | $-58.4M | $-102.3M | $-70.8M | $-130.9M | $-232.0M | $-271.6M | |
| EPS (Diluted) | -6.80 | -5.20 | -11.50 | -5.44 | -3.54 | -2.03 | -2.74 | -1.82 | -2.32 | -3.17 | -3.50 | |
| EBITDA | $-20.8M | $-17.7M | $-51.3M | $-48.0M | $-35.5M | $-50.1M | $-96.6M | $-69.0M | $-129.2M | $-229.3M | $-267.6M | |
| Shares Out. (M) | 3.16 | 3.53 | 4.62 | 10.43 | 12.84 | 28.76 | 37.32 | 38.90 | 56.30 | 73.25 | 86.00 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $15.3M | $16.9M | $38.8M | $22.2M | $44.9M | $178.6M | $95.6M | $281.3M | $99.7M | $101.8M | $77.7M | |
| Marketable Securities | $13.7M | $0.00 | $0.00 | $0.00 | $0.00 | $33.0M | $48.9M | $49.8M | $271.2M | $204.3M | $144.8M | |
| Total Current Assets | $30.0M | $17.7M | $39.9M | $41.7M | $63.1M | $237.7M | $172.8M | $344.8M | $383.3M | $328.7M | $249.5M | |
| Total Assets | $31.6M | $18.7M | $71.7M | $73.0M | $91.7M | $263.4M | $180.4M | $355.2M | $418.5M | $364.0M | $288.2M | |
| Total Current Liabilities | $5.1M | $5.3M | $21.7M | $11.5M | $14.9M | $23.7M | $34.5M | $63.3M | $49.0M | $37.0M | $37.5M | |
| Long-Term Debt | $0.00 | $0.00 | $17.3M | $47.2M | $38.0M | $36.6M | $29.3M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $10.7M | $5.3M | $60.0M | $64.6M | $73.2M | $79.0M | $84.0M | $88.9M | $82.0M | $57.9M | $57.7M | |
| Stockholders' Equity | $20.9M | $13.3M | $11.7M | $8.3M | $18.5M | $184.4M | $96.4M | $266.3M | $336.5M | $306.1M | $230.5M | |
| Retained Earnings | $-292.2M | $-310.8M | $-364.0M | $-465.3M | $-510.7M | $-569.1M | $-671.4M | $-742.1M | $-873.0M | $-1.10B | $-1.19B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-16.3M | $-20.5M | $-21.9M | $-56.7M | $-14.4M | $-50.1M | $-65.0M | $1.9M | $-126.2M | $-240.1M | $-267.5M | |
| Capital Expenditure | $-113.0K | $-147.0K | $-108.0K | $-213.0K | $-362.0K | $-156.0K | $-2.1M | $-3.5M | $-4.1M | $-3.3M | $-4.0M | |
| Free Cash Flow | $-16.4M | $-20.6M | $-22.0M | $-56.9M | $-14.8M | $-50.3M | $-67.2M | $-1.6M | $-130.3M | $-243.4M | $-271.5M | |
| Investing Cash Flow | $-4.5M | $13.6M | $-16.9M | $-213.0K | $-362.0K | $-33.1M | $-17.3M | $-3.3M | $-219.4M | $68.6M | $88.1M | |
| Financing Cash Flow | $17.0M | $8.5M | $60.7M | $33.9M | $37.5M | $216.9M | $-690.0K | $187.1M | $164.0M | $173.6M | $172.0M | |
| Issuance of Stock | $16.5M | $8.4M | $41.5M | $22.6M | $49.9M | $216.8M | $0.00 | $226.2M | $163.3M | $173.4M | $166.8M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $20.0M | $50.0M | $2.0M | $0.00 | $73.9M | $5.3M | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $-20.0M | $-13.8M | $-146.0K | $-71.8M | $-45.8M | $-105.0K | $-105.0K | $-99.0K | |
| Stock Based Comp. | $2.2M | $2.5M | $2.7M | $4.6M | $5.5M | $7.4M | $14.2M | $12.1M | $36.7M | $27.9M | $31.7M | |
| Net Change in Cash | $-3.8M | $1.6M | $21.9M | $-23.0M | $22.7M | $133.7M | $-83.0M | $185.6M | $-181.6M | $2.1M | $-7.4M |
Dilution Tracker
Shares outstanding grew 199.0% over 5 years — significant dilution
Shares Outstanding
86M
5-Year Share Growth
+199.0%
Stock Issuance (TTM)
$166.8M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 3.16 | 3.53 | 4.62 | 10.43 | 12.84 | 28.76 | 37.32 | 38.90 | 56.30 | 73.25 | 86.00 | |
| YoY Change % | — | 11.8% | 30.8% | 125.6% | 23.1% | 124.0% | 29.8% | 4.3% | 44.7% | 30.1% | 17.4% | |
| Stock Issuance | $16.5M | $8.4M | $41.5M | $22.6M | $49.9M | $216.8M | $0.00 | $226.2M | $163.3M | $173.4M | $166.8M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $2.2M | $2.5M | $2.7M | $4.6M | $5.5M | $7.4M | $14.2M | $12.1M | $36.7M | $27.9M | $31.7M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 86.8% | 83.1% | 77.9% | 79.9% | 89.9% | 91.4% | 93.4% | 76.5% | |
| Operating Margin % | -1344.1% | -246.4% | -887.3% | -235.0% | -108.3% | -149.6% | -190.7% | -163.1% | -337.1% | -776.0% | -3700.9% | |
| Net Margin % | -1330.1% | -245.2% | -1795.7% | -278.9% | -131.8% | -158.1% | -247.0% | -153.8% | -302.4% | -739.4% | -3566.6% | |
| EBITDA Margin % | -1283.6% | -234.4% | -1732.6% | -235.8% | -103.1% | -135.8% | -233.4% | -149.9% | -298.6% | -731.1% | -3514.0% | |
| FCF Margin % | -1014.1% | -273.7% | -743.5% | -279.5% | -43.0% | -136.0% | -162.2% | -3.5% | -301.1% | -775.8% | -3565.9% | |
| ROE % | -97.4% | -108.0% | -425.0% | -567.4% | -337.9% | -57.6% | -72.8% | -39.0% | -43.4% | -72.2% | -106.0% | |
| ROA % | -67.3% | -73.5% | -117.7% | -78.5% | -55.1% | -32.9% | -46.1% | -26.4% | -33.8% | -59.3% | -86.6% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S140.19
Historical1.24 / 9.43 / 142.19
Industry Med.9.49
P/B5.33
Historical0.62 / 4.54 / 25.36
Industry Med.2.93
EV/EBITDA-3.86
Historical-12.89 / -2.69 / 0.26
Industry Med.13.02
EV/Revenue135.50
Historical-0.44 / 6.71 / 142.04
Industry Med.8.59
P/FCF—
Historical23.51 / 40.16 / 800.00
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$2.76
Net Current Assets
$2.300
Median P/S Value
$0.95
Net-Net Working Capital
$1.99
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | 55.27 | 8.02 | 32.50 | 7.94 | 2.45 | 9.53 | 3.15 | 19.54 | 9.69 | 42.69 | 140.19 | |
| PB Ratio | 4.63 | 5.05 | 13.26 | 20.37 | 6.44 | 2.25 | 1.24 | 4.26 | 1.51 | 4.94 | 5.33 | |
| EV/EBITDA | -3.26 | -2.85 | -2.60 | -4.11 | -3.25 | -4.84 | -0.21 | -11.70 | -1.23 | -5.35 | -3.86 | |
| EV/Revenue | 41.80 | 6.69 | 45.09 | 9.70 | 3.35 | 6.57 | 0.50 | 17.54 | 3.69 | 39.14 | 135.50 |
Analyst Estimates & Quality
Altman Z-Score
4.85
Safe
Piotroski F-Score
1
Weak
Beneish M-Score
12.81
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $1.98M | $38.85M | $301.69M |
| Net Income | $-317.05M | $-313.34M | $-154.63M |
| EPS | -3.51 | -3.01 | -1.53 |
| Book Value per Share | 2.99 | 2.84 | 9.23 |
| Operating Cash Flow per Share | -2.25 | -0.48 | 2.92 |
| Operating CF | $-193.50M | $-41.28M | $251.12M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Business of developing and commercializing innovative ophthalmic products for the treatment of eye | $31.4M |
By Geography
| Segment | 2025 |
|---|---|
| United States (U.S.) | $30.0M |
| China | $1.3M |
| United Kingdom (UK) | $100.0K |