What is Oncocyte's operating income?

Oncocyte's total operating income in 2025 was -$51.12 million, based on the following breakdown: Total Gross Profit: $2.30 million Total Operating Expenses: $53.42 million

Oncocyte (IMDX) Financials

$4.59 -0.49 (-9.65%)

Closing price 07/13/2026 04:00 PM Eastern

Extended Trading

$4.79 +0.20 (+4.34%)

As of 08:29 AM Eastern

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Annual Income Statements for Oncocyte

This table shows Oncocyte's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-8.74	-11	-19	-16	-22	-30	-64	-73	-29	-61	-50
Consolidated Net Income / (Loss)	-8.74	-11	-19	-16	-22	-30	-64	-73	-28	-61	-50
Net Income / (Loss) Continuing Operations	-8.74	-11	-19	-16	-22	-30	-44	-19	-25	-61	-50
Total Pre-Tax Income	-8.74	-11	-19	-16	-22	-31	-53	-19	-25	-61	-50
Total Operating Income	-8.72	-11	-19	-15	-22	-30	-54	-18	-25	-61	-51
Total Gross Profit	0.00	0.00	0.00	0.00	0.00	-0.64	1.42	-0.02	0.41	0.74	2.30
Total Revenue	0.00	0.00	0.00	0.00	0.00	1.22	2.20	0.96	1.50	1.88	4.06
Operating Revenue	-	-	-	-	0.00	1.22	2.20	0.96	1.50	1.88	4.06
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	1.86	0.70	0.98	1.09	1.14	1.76
Operating Cost of Revenue	-	-	-	-	0.00	1.86	0.70	0.98	1.09	1.14	1.76
Total Operating Expenses	8.72	11	19	15	22	29	55	18	26	62	53
Selling, General & Admin Expense	3.87	4.27	9.23	7.01	13	17	22	22	11	10	11
Marketing Expense	0.32	1.20	2.44	1.68	2.16	6.49	0.55	1.13	2.80	3.94	6.34
Research & Development Expense	4.53	5.68	7.17	6.51	6.79	9.80	5.04	7.30	9.29	9.84	16
Impairment Charge	-	-	-	-	-	-	0.00	19	6.76	42	15
Other Special Charges / (Income)	-	-	-	-	0.00	-4.01	27	-31	-4.48	-4.11	5.95
Total Other Income / (Expense), net	-0.02	-0.03	-0.53	-0.55	-0.19	-1.48	0.66	-0.62	0.28	0.38	0.90
Interest Expense	-	-	0.22	0.22	-0.15	0.25	-0.93	0.08	0.05	0.08	0.11
Other Income / (Expense), net	0.00	0.00	-0.31	-0.34	-0.05	0.32	-	-0.53	0.33	0.46	1.01
Income Tax Expense	-	-	-	-	0.00	-1.25	-9.26	-	-	0.00	0.00
Basic Earnings per Share	($0.42)	($0.42)	($0.64)	($0.42)	($0.44)	($0.46)	($0.72)	($13.25)	($3.75)	($4.66)	($1.65)
Weighted Average Basic Shares Outstanding	21.01M	26.53M	30.20M	37.85M	51.30M	65.48M	88.92M	5.54M	7.65M	13.07M	30.48M
Diluted Earnings per Share	($0.42)	($0.42)	($0.64)	($0.42)	($0.44)	($0.46)	-	($13.25)	($3.75)	($4.66)	($1.65)
Weighted Average Diluted Shares Outstanding	21.01M	26.53M	30.20M	37.85M	51.30M	65.48M	88.92M	5.54M	7.65M	13.07M	30.48M
Weighted Average Basic & Diluted Shares Outstanding	21.01M	26.53M	30.20M	37.85M	51.30M	65.48M	88.92M	-	-	28.60M	32.17M

This table shows Oncocyte's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-6.69	-13	-9.34	-4.59	-13	-34	-6.67	-9.74	-11	-23	-4.29
Consolidated Net Income / (Loss)	-6.49	-16	-9.13	-4.53	-13	-34	-6.67	-9.74	-11	-23	-4.29
Net Income / (Loss) Continuing Operations	-6.49	-16	-9.13	-4.53	-13	-34	-6.67	-9.74	-11	-23	-4.29
Total Pre-Tax Income	-6.49	-16	-9.13	-4.53	-13	-34	-6.67	-9.74	-11	-23	-4.29
Total Operating Income	-6.51	-16	-9.27	-4.63	-14	-34	-6.80	-9.84	-11	-23	-4.41
Total Gross Profit	0.25	-0.12	0.05	0.05	0.05	0.60	1.33	0.35	0.14	0.48	0.02
Total Revenue	0.43	0.31	0.18	0.10	0.12	1.49	2.14	0.52	0.26	1.14	0.03
Operating Revenue	0.43	0.31	0.18	0.10	0.12	1.49	2.14	0.52	0.26	1.14	0.03
Total Cost of Revenue	0.18	0.45	0.13	0.05	0.07	0.89	0.81	0.17	0.12	0.66	0.02
Operating Cost of Revenue	0.18	0.45	0.13	0.05	0.07	0.89	0.81	0.17	0.12	0.66	0.02
Total Operating Expenses	6.76	16	9.31	4.68	14	34	8.12	10	11	24	4.43
Selling, General & Admin Expense	2.49	1.75	2.67	2.41	2.57	2.56	3.12	2.65	2.55	2.33	2.99
Marketing Expense	0.71	0.58	0.85	0.85	1.04	1.20	1.21	1.46	1.39	2.29	2.40
Research & Development Expense	2.19	2.55	2.31	2.45	2.82	2.26	2.92	3.28	3.88	5.82	4.95
Other Special Charges / (Income)	-0.44	11	3.48	-1.03	7.14	-14	0.88	2.80	3.38	-1.12	-5.92
Total Other Income / (Expense), net	0.02	0.19	0.14	0.10	0.02	0.12	0.13	0.10	0.19	0.48	0.12
Interest Expense	0.01	0.01	0.02	0.01	0.03	0.03	0.03	0.03	0.03	0.03	0.02
Other Income / (Expense), net	0.04	0.20	0.15	0.11	0.05	0.15	0.16	0.13	0.22	0.51	0.15
Income Tax Expense	-	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Basic Earnings per Share	($0.81)	($1.75)	($1.13)	($0.36)	($0.98)	($2.56)	($0.26)	($0.30)	($0.34)	($0.75)	($0.12)
Weighted Average Basic Shares Outstanding	8.26M	7.65M	8.26M	12.87M	13.71M	13.07M	25.69M	32.02M	32.03M	30.48M	34.52M
Diluted Earnings per Share	($0.81)	($1.75)	($1.13)	($0.36)	($0.98)	($2.56)	($0.26)	($0.30)	($0.34)	($0.75)	($0.12)
Weighted Average Diluted Shares Outstanding	8.26M	7.65M	8.26M	12.87M	13.71M	13.07M	25.69M	32.02M	32.03M	30.48M	34.52M
Weighted Average Basic & Diluted Shares Outstanding	8.26M	0.00	13.36M	13.37M	16.84M	28.60M	28.60M	28.62M	28.66M	32.17M	32.29M

This table details how cash moves in and out of Oncocyte's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	7.74	2.18	-2.57	0.43	16	-15	28	-14	-12	-0.80	2.58
Net Cash From Operating Activities	-4.23	-7.52	-13	-12	-20	-26	-36	-46	-23	-21	-22
Net Cash From Continuing Operating Activities	-4.23	-7.52	-13	-12	-20	-26	-36	-46	-23	-21	-22
Net Income / (Loss) Continuing Operations	-8.74	-11	-19	-16	-22	-30	-64	-73	-28	-61	-50
Consolidated Net Income / (Loss)	-8.74	-11	-19	-16	-22	-30	-64	-73	-28	-61	-50
Depreciation Expense	0.04	0.15	0.34	0.44	0.34	0.31	0.84	1.53	1.59	1.48	2.19
Amortization Expense	0.26	0.24	0.33	0.22	0.10	0.18	3.42	3.70	0.09	0.09	0.01
Non-Cash Adjustments To Reconcile Net Income	3.44	2.93	5.26	2.44	1.62	6.74	5.74	55	13	44	17
Changes in Operating Assets and Liabilities, net	0.77	0.33	0.07	1.01	0.65	-3.28	18	-33	-9.73	-5.57	8.67
Net Cash From Investing Activities	0.32	-0.18	0.84	-0.03	-12	-12	-14	-4.34	-0.93	-0.51	-3.19
Net Cash From Continuing Investing Activities	0.32	-0.18	0.84	-0.03	-12	-12	-14	-4.34	-0.93	-0.51	-3.19
Purchase of Property, Plant & Equipment	-0.50	-0.11	-0.09	-0.03	-0.92	-1.23	-2.25	-4.34	-0.28	-0.52	-3.19
Sale of Property, Plant & Equipment	-	-	-	-	-	-	-	0.00	0.35	0.00	0.00
Net Cash From Financing Activities	12	9.88	9.97	12	48	23	78	36	12	20	28
Net Cash From Continuing Financing Activities	12	9.88	9.97	12	48	23	78	36	12	20	28
Repayment of Debt	0.00	-0.11	-0.40	-1.18	-0.67	-0.45	-1.53	-1.43	-0.12	-0.20	-0.51
Repurchase of Preferred Equity	-	-	-	-	-	-	0.00	-0.09	-1.12	-5.39	0.00
Repurchase of Common Equity	0.00	-0.77	0.00	-0.07	-3.29	-0.06	-2.68	-0.39	-0.43	-1.37	-0.49
Issuance of Common Equity	12	11	0.00	10	49	21	65	33	14	26	29
Other Financing Activities, net	0.00	0.22	8.38	3.36	-0.03	1.36	17	0.03	0.00	1.38	-0.07
Effect of Exchange Rate Changes	-	-	-	-	-	-	-	-	-	-0.02	-0.12
Cash Interest Paid	0.00	0.03	0.13	0.14	0.17	0.21	0.11	0.02	0.01	0.04	0.09
Cash Income Taxes Paid	-	-	-	-	-	-	-	0.00	0.00	0.00	0.00

This table details how cash moves in and out of Oncocyte's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-3.59	-4.35	-3.85	3.68	-5.89	5.27	22	-6.74	-5.78	-7.29	16
Net Cash From Operating Activities	-3.77	-4.42	-3.83	-5.98	-5.53	-5.35	-5.84	-6.28	-4.50	-5.55	-7.64
Net Cash From Continuing Operating Activities	-3.77	-4.42	-3.83	-5.98	-5.53	-5.35	-5.84	-6.28	-4.50	-5.55	-7.64
Net Income / (Loss) Continuing Operations	-6.49	-16	-9.13	-4.53	-13	-34	-6.67	-9.74	-11	-23	-4.29
Consolidated Net Income / (Loss)	-6.49	-16	-9.13	-4.53	-13	-34	-6.67	-9.74	-11	-23	-4.29
Depreciation Expense	0.40	0.30	0.31	0.30	0.32	0.54	0.48	0.56	0.58	0.56	0.63
Amortization Expense	0.02	0.02	0.02	0.02	0.02	0.02	0.01	-	-	-	0.00
Non-Cash Adjustments To Reconcile Net Income	2.62	0.57	0.63	0.44	0.49	42	0.53	0.58	0.73	15	0.64
Changes in Operating Assets and Liabilities, net	-0.32	11	4.33	-2.21	7.13	-15	-0.19	2.33	5.04	1.47	-4.62
Net Cash From Investing Activities	0.21	0.10	-0.02	-0.19	-0.09	-0.21	-0.31	-0.35	-1.05	-1.48	-0.61
Net Cash From Continuing Investing Activities	0.21	0.10	-0.02	-0.19	-0.09	-0.21	-0.31	-0.35	-1.05	-1.48	-0.61
Purchase of Property, Plant & Equipment	-0.02	-0.26	-0.02	-0.19	-0.09	-0.21	-0.31	-0.35	-1.05	-1.48	-0.61
Net Cash From Financing Activities	-0.03	-0.03	0.00	9.85	-0.26	11	29	-0.11	-0.12	-0.25	25
Net Cash From Continuing Financing Activities	-0.03	-0.03	0.00	9.85	-0.26	11	29	-0.11	-0.12	-0.25	25
Repayment of Debt	-0.03	-0.03	0.00	-0.03	-0.09	-0.08	-0.10	-0.11	-0.12	-0.18	-0.14
Repurchase of Common Equity	-	-	0.00	-0.54	-	-0.84	-0.49	-	-	-	-1.18
Issuance of Common Equity	-	-	0.00	16	-	10	29	-	-	-	26
Effect of Exchange Rate Changes	-	-	-	-	-	-0.00	-0.02	-	-	-0.02	-0.01
Cash Interest Paid	-	0.01	0.00	-	0.02	0.03	0.02	0.02	0.02	0.02	0.02
Cash Income Taxes Paid	-	-	0.00	-	-	-	0.00	-	-	-	0.00

This table presents Oncocyte's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	13	14	10	9.52	40	55	160	100	75	35	26
Total Current Assets	11	13	8.53	8.64	23	9.23	39	26	11	12	15
Cash & Equivalents	8.00	10	7.60	8.03	22	7.14	33	20	9.43	8.64	12
Restricted Cash	-	-	-	-	-	-	-	-	-	0.00	0.73
Accounts Receivable	-	-	-	-	0.00	0.20	1.44	2.01	0.48	1.61	1.13
Inventories, net	-	-	-	-	-	-	-	-	0.00	0.41	0.45
Prepaid Expenses	0.39	0.29	0.17	0.18	0.51	1.21	0.90	0.98	0.64	0.82	1.42
Plant, Property, & Equipment, net	0.58	0.69	0.82	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	1.23	1.06	0.87	0.88	17	46	120	75	64	23	10
Noncurrent Note & Lease Receivables	-	-	-	-	-	3.26	2.78	2.18	1.64	2.76	2.82
Other Noncurrent Operating Assets	0.00	0.08	0.12	0.88	5.94	5.32	7.55	11	5.96	5.96	7.64
Total Liabilities & Shareholders' Equity	13	14	10	9.52	40	55	160	100	75	35	26
Total Liabilities	2.31	4.59	5.81	6.10	9.02	22	94	60	49	47	57
Total Current Liabilities	2.31	4.28	4.45	5.56	4.44	9.00	14	12	7.19	7.28	12
Short-Term Debt	0.00	0.20	1.14	0.80	1.13	2.39	1.31	0.11	2.31	0.23	0.43
Accounts Payable	2.27	4.07	3.32	4.38	3.09	2.72	3.90	3.07	1.41	2.06	3.48
Accrued Expenses	-	-	-	-	-	3.47	4.22	3.79	2.77	3.06	3.58
Other Current Liabilities	0.04	-	-	0.39	0.23	0.42	3.17	3.13	0.67	1.93	4.59
Total Noncurrent Liabilities	0.00	0.31	1.36	0.53	4.58	13	80	48	42	40	45
Capital Lease Obligations	0.00	0.31	0.29	-	2.68	4.31	3.55	2.73	2.20	2.37	1.69
Other Noncurrent Operating Liabilities	-	-	-	0.19	0.00	7.12	77	46	40	38	43
Commitments & Contingencies	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	10	9.86	4.40	3.42	31	33	65	34	20	-12	-31
Total Preferred & Common Equity	10	9.86	4.40	3.42	31	33	65	34	20	-12	-31
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	10	9.86	4.40	3.42	31	33	65	34	20	-12	-31
Common Stock	35	46	60	75	125	157	253	295	310	338	369
Retained Earnings	-24	-35	-55	-71	-94	-124	-188	-261	-290	-351	-401
Accumulated Other Comprehensive Income / (Loss)	-0.35	-0.65	-0.89	0.00	-	0.00	0.04	0.04	0.05	0.02	0.09

This table presents Oncocyte's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	82	71	75	70	60	51	44	40
Total Current Assets	17	6.54	9.97	4.79	36	27	21	31
Cash & Equivalents	14	5.58	9.26	3.36	31	24	19	28
Restricted Cash	-	-	-	-	-	-	0.73	0.73
Accounts Receivable	1.88	0.16	0.09	0.21	3.54	0.51	0.26	0.16
Inventories, net	-	-	-	0.23	0.46	0.69	0.47	0.38
Prepaid Expenses	0.67	0.74	0.60	0.63	1.24	1.35	1.24	1.05
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	65	64	65	65	24	24	23	9.91
Noncurrent Note & Lease Receivables	1.76	2.20	2.59	3.00	2.59	2.52	2.34	2.46
Other Noncurrent Operating Assets	6.30	5.67	5.61	5.89	6.91	6.55	5.61	7.45
Total Liabilities & Shareholders' Equity	82	71	75	70	60	51	44	40
Total Liabilities	39	54	52	61	50	49	53	51
Total Current Liabilities	8.03	8.33	7.20	9.09	9.68	6.65	7.66	12
Short-Term Debt	-	-	-	0.61	0.43	0.69	1.06	0.16
Accounts Payable	1.96	1.65	1.43	1.86	4.21	1.85	1.66	2.90
Accrued Expenses	2.95	3.54	2.43	3.02	3.64	2.58	3.35	4.45
Other Current Liabilities	3.03	3.14	3.34	3.60	1.40	1.54	1.60	4.50
Total Noncurrent Liabilities	31	46	45	51	40	43	45	39
Capital Lease Obligations	2.35	-	2.64	2.71	2.07	1.83	1.53	1.31
Other Noncurrent Operating Liabilities	29	46	42	49	38	41	44	38
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	38	12	23	9.71	10	1.10	-9.20	-11
Total Preferred & Common Equity	38	12	23	9.71	10	1.10	-9.20	-11
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	38	12	23	9.71	10	1.10	-9.20	-11
Common Stock	310	311	326	327	367	368	369	394
Retained Earnings	-272	-299	-304	-317	-357	-367	-378	-405
Accumulated Other Comprehensive Income / (Loss)	0.03	0.04	0.04	0.06	0.04	0.09	0.09	0.07

This table displays calculated financial ratios and metrics derived from Oncocyte's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	28,709,348.00	31,427,067.00	40,664,496.00	51,972,830.00	67,250,639.00	92,231,437.00	118,643,821.00	8,260,762.00	16,835,247.00	28,664,437.00
DEI Adjusted Shares Outstanding	0.00	1,435,467.00	1,571,353.00	2,033,225.00	2,598,642.00	3,362,532.00	4,611,572.00	5,932,191.00	8,260,762.00	16,835,247.00	28,664,437.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-7.78	-12.33	-7.75	-8.63	-8.90	-13.90	-12.38	-3.48	-3.62	-1.75
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	80.76%	-56.41%	56.89%	25.15%	115.58%
EBITDA Growth	-78.93%	-27.78%	-72.00%	19.52%	-46.76%	-32.26%	-71.21%	73.12%	-73.90%	-155.22%	18.81%
EBIT Growth	-74.88%	-27.81%	-71.97%	18.90%	-43.46%	-31.83%	-82.82%	65.51%	-33.86%	-144.24%	17.28%
NOPAT Growth	-75.31%	-27.78%	-69.20%	19.35%	-46.29%	-33.60%	-80.83%	66.50%	-39.67%	-142.84%	16.25%
Net Income Growth	-75.19%	-27.85%	-73.49%	18.69%	-42.35%	-33.47%	-114.14%	-13.74%	61.89%	-118.36%	17.21%
EPS Growth	-55.56%	0.00%	-52.38%	34.38%	-4.76%	-4.55%	0.00%	0.00%	71.70%	-24.27%	64.59%
Operating Cash Flow Growth	-263.32%	-77.87%	-77.94%	12.97%	-69.24%	-31.78%	-38.34%	-26.79%	48.81%	11.30%	-7.23%
Free Cash Flow Firm Growth	0.00%	1.70%	-134.17%	40.39%	-175.15%	-68.79%	41.61%	-31.94%	44.07%	77.54%	-237.11%
Invested Capital Growth	0.00%	-1,597.50%	28.33%	-166.58%	180.40%	553.82%	-75.00%	328.04%	-5.32%	-188.36%	-127.48%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	70.31%	-52.63%	176.27%	2.73%	165.30%	-7.88%
EBITDA Q/Q Growth	0.00%	4.12%	-4.16%	-4.20%	-16.66%	1.16%	-16.77%	18.55%	-27.12%	-41.35%	18.05%
EBIT Q/Q Growth	0.00%	3.85%	-4.49%	-3.72%	-16.07%	5.10%	-21.47%	13.99%	-19.11%	-40.63%	17.39%
NOPAT Q/Q Growth	0.00%	3.85%	-4.43%	-1.02%	-18.53%	4.05%	-19.92%	16.46%	-21.99%	-40.02%	16.62%
Net Income Q/Q Growth	0.00%	3.77%	-4.64%	-3.54%	-18.21%	5.21%	-85.68%	-14.25%	51.06%	-40.61%	17.37%
EPS Q/Q Growth	0.00%	10.64%	-4.92%	4.55%	-12.82%	2.13%	0.00%	-14.25%	48.77%	-56.38%	13.16%
Operating Cash Flow Q/Q Growth	0.00%	-12.22%	-6.61%	7.08%	-16.90%	-3.33%	-2.63%	-6.01%	18.30%	-4.69%	-0.77%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-3.68%	16.38%	-60.93%	7.00%	69.18%	-246.58%	-326.08%	61.07%	-72.34%
Invested Capital Q/Q Growth	0.00%	-0.54%	-5.95%	-85.86%	362.50%	12.85%	-91.33%	-58.22%	-32.50%	-289.38%	-60.03%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-52.55%	64.60%	-1.88%	27.48%	39.34%	56.67%
EBITDA Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-2,375.90%	-2,250.41%	-1,388.00%	-1,538.46%	-3,137.43%	-1,181.65%
Operating Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-2,443.34%	-2,444.27%	-1,878.60%	-1,672.39%	-3,245.14%	-1,260.76%
EBIT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-2,416.69%	-2,444.27%	-1,934.13%	-1,650.23%	-3,220.57%	-1,235.83%
Profit (Net Income) Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-2,461.51%	-2,916.15%	-7,609.81%	-1,848.37%	-3,225.04%	-1,238.52%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	95.98%	121.23%	391.69%	111.77%	100.00%	100.00%
Interest Burden Percent	100.22%	100.25%	101.13%	101.39%	100.61%	106.12%	98.41%	100.45%	100.21%	100.14%	100.22%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	-176.35%	-294.13%	-93.30%	-82.58%	-3,543.01%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	-131.50%	-221.68%	61.71%	7.67%	-3,214.18%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	83.28%	164.25%	-45.81%	-2.66%	2,632.15%	0.00%
Return on Equity (ROE)	-83.85%	-110.14%	-271.64%	-402.61%	-130.91%	-93.07%	-129.88%	-139.11%	-85.23%	-910.86%	229.65%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	-721.90%	-323.29%	-174.12%	-217.55%	-77.11%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	0.00%	-61.69%	-49.98%	-14.27%	-28.35%	-110.17%	-164.75%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	0.00%	-62.83%	-59.63%	-56.15%	-31.75%	-110.32%	-165.10%
Return on Common Equity (ROCE)	-83.85%	-110.14%	-271.64%	-402.61%	-130.91%	-93.07%	-129.88%	-132.07%	-71.60%	-560.33%	229.65%
Return on Equity Simple (ROE_SIMPLE)	-83.85%	-113.24%	-440.04%	-460.24%	-72.72%	-89.39%	-98.28%	-212.59%	-135.73%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-6.10	-7.80	-13	-11	-16	-21	-38	-13	-18	-43	-36
NOPAT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-1,710.34%	-1,710.99%	-1,315.02%	-1,170.67%	-2,271.59%	-882.54%
Net Nonoperating Expense Percent (NNEP)	-49.96%	-30.04%	-69.59%	-77.59%	-39.17%	-44.85%	-72.45%	-155.01%	-90.25%	-328.83%	-177.85%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-70.42%	441.55%	121.95%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	152.55%	31.71%	101.88%	72.52%	60.66%	43.33%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	1,380.59%	1,014.19%	2,284.03%	743.98%	542.48%	262.22%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	805.92%	229.07%	762.11%	618.36%	523.07%	392.11%
Operating Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	2,390.79%	2,508.87%	1,876.72%	1,699.87%	3,284.48%	1,317.44%
Earnings before Interest and Taxes (EBIT)	-8.72	-11	-19	-16	-22	-29	-54	-19	-25	-61	-50
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-8.42	-11	-18	-15	-22	-29	-49	-13	-23	-59	-48
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	20.52	33.19	16.39	3.79	4.80	3.07	1.11	1.01	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	22.81	39.96	16.39	3.79	17.31	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.00	132.18	91.06	39.74	13.74	21.30	53.02
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	28.52	7.22	33.47	1.18	1.01	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	121.47	77.87	26.92	13.88	18.09	50.50
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.05	0.57	0.34	0.19	0.25	0.07	0.07	0.18	-0.21	-0.07
Long-Term Debt to Equity	0.00	0.03	0.31	0.10	0.15	0.17	0.05	0.07	0.09	-0.19	-0.05
Financial Leverage	-1.01	-1.11	-1.25	-1.68	-1.02	-0.63	-0.74	-0.74	-0.35	-0.82	0.37
Leverage Ratio	1.22	1.34	1.73	2.52	1.44	1.48	2.18	2.48	2.68	8.26	-1.39
Compound Leverage Factor	1.22	1.34	1.75	2.56	1.45	1.57	2.14	2.49	2.69	8.27	-1.39
Debt to Total Capital	0.00%	4.94%	36.19%	25.10%	15.61%	19.69%	6.93%	6.69%	15.00%	-26.84%	-7.22%
Short-Term Debt to Total Capital	0.00%	1.95%	16.49%	17.51%	3.08%	5.73%	1.87%	0.26%	7.68%	-2.36%	-1.46%
Long-Term Debt to Total Capital	0.00%	2.99%	19.70%	7.59%	12.54%	13.96%	5.06%	6.43%	7.32%	-24.48%	-5.76%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	12.50%	17.02%	0.00%	0.00%
Common Equity to Total Capital	100.00%	95.06%	63.81%	74.90%	84.39%	80.31%	93.07%	80.82%	67.97%	126.84%	107.22%
Debt to EBITDA	0.00	-0.05	-0.14	-0.08	-0.26	-0.28	-0.10	-0.21	-0.20	-0.04	-0.04
Net Debt to EBITDA	0.00	1.11	0.32	0.49	1.27	0.45	0.59	1.32	0.21	0.10	0.21
Long-Term Debt to EBITDA	0.00	-0.03	-0.07	-0.02	-0.21	-0.20	-0.07	-0.21	-0.10	-0.04	-0.04
Debt to NOPAT	0.00	-0.07	-0.19	-0.11	-0.37	-0.39	-0.13	-0.23	-0.26	-0.06	-0.06
Net Debt to NOPAT	0.00	1.53	0.44	0.69	1.78	0.63	0.77	1.40	0.28	0.14	0.28
Long-Term Debt to NOPAT	0.00	-0.04	-0.10	-0.03	-0.29	-0.28	-0.09	-0.22	-0.13	-0.06	-0.05
Altman Z-Score	0.00	21.22	1.88	-9.96	3.20	-0.45	-1.28	-3.71	-6.18	-18.97	-25.64
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.06%	16.00%	38.48%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.72	2.97	1.91	1.55	5.17	1.03	2.77	2.11	1.49	1.62	1.27
Quick Ratio	4.55	2.90	1.88	1.52	5.06	0.89	2.50	1.85	1.38	1.41	1.05
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-5.98	-5.88	-14	-8.21	-23	-38	-22	-29	-16	-3.69	-12
Operating Cash Flow to CapEx	-845.80%	-7,096.23%	-14,708.79%	-37,577.42%	-2,147.60%	-2,117.36%	-1,599.51%	-1,049.95%	0.00%	-4,040.82%	-696.51%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-63.46	-38.01	0.00	-151.30	0.00	-353.90	-315.97	-43.94	-114.15
Operating Cash Flow to Interest Expense	0.00	0.00	-61.68	-53.93	0.00	-103.10	0.00	-549.01	-448.56	-246.30	-203.52
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-62.10	-54.07	0.00	-107.96	0.00	-601.30	-447.15	-252.39	-232.74
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.03	0.02	0.01	0.02	0.03	0.13
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	2.68	0.56	1.20	1.79	2.96
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.11
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.64	0.21	0.28	0.49	0.66	0.63
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	136.17	657.04	303.07	203.46	123.36
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	88.91
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	570.72	1,731.00	1,302.37	749.25	554.06	575.65
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	-570.72	-1,594.83	-645.33	-446.18	-350.60	-363.37
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-0.12	-2.04	-1.46	-3.89	3.13	20	5.11	22	21	-18	-42
Invested Capital Turnover	0.00	0.00	0.00	0.00	0.00	0.10	0.17	0.07	0.07	1.56	-0.14
Increase / (Decrease) in Invested Capital	-0.12	-1.92	0.58	-2.43	7.02	17	-15	17	-1.17	-39	-23
Enterprise Value (EV)	0.00	191	140	49	89	148	171	26	21	34	205
Market Capitalization	0.00	202	146	56	117	161	200	38	21	40	215
Book Value per Share	$0.50	$0.34	$0.14	$0.08	$0.59	$0.50	$0.71	$0.29	$2.48	($0.73)	($1.10)
Tangible Book Value per Share	$0.44	$0.31	$0.12	$0.08	$0.59	$0.14	($0.16)	($0.23)	($4.37)	($1.60)	($1.10)
Total Capital	10	10	6.90	4.57	37	42	70	42	30	-9.68	-29
Total Debt	0.00	0.51	2.50	1.15	5.71	8.21	4.86	2.84	4.52	2.60	2.12
Total Long-Term Debt	0.00	0.31	1.36	0.35	4.58	5.82	3.55	2.73	2.20	2.37	1.69
Net Debt	-11	-12	-5.86	-7.32	-28	-13	-29	-18	-4.91	-6.04	-10
Capital Expenditures (CapEx)	0.50	0.11	0.09	0.03	0.92	1.23	2.25	4.34	-0.07	0.51	3.19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1.93	-3.79	-3.15	-4.58	-2.81	-5.20	-7.52	-6.89	-3.61	-3.92	-8.65
Debt-free Net Working Capital (DFNWC)	8.61	8.62	5.21	3.88	20	2.62	26	14	5.82	4.71	3.66
Net Working Capital (NWC)	8.61	8.42	4.07	3.08	19	0.23	25	13	3.50	4.48	3.23
Net Nonoperating Expense (NNE)	2.63	3.37	6.18	5.11	6.86	9.13	26	60	10	18	14
Net Nonoperating Obligations (NNO)	-11	-12	-5.86	-7.32	-28	-13	-60	-18	-4.87	-6.04	-10
Total Depreciation and Amortization (D&A)	0.30	0.39	0.66	0.65	0.45	0.50	4.26	5.23	1.68	1.56	2.20
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	-427.47%	-341.95%	-718.89%	-240.45%	-208.61%	-213.39%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	215.46%	1,198.18%	1,413.26%	387.09%	250.51%	90.23%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	18.91%	1,138.44%	1,401.88%	233.13%	238.38%	79.68%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($8.40)	($8.40)	($12.80)	($8.40)	($8.80)	($9.20)	($14.40)	($13.20)	($3.75)	($4.66)	($1.65)
Adjusted Weighted Average Basic Shares Outstanding	1.05M	1.47M	1.57M	2.60M	3.12M	4.45M	4.61M	5.54M	7.65M	13.07M	30.48M
Adjusted Diluted Earnings per Share	($8.40)	($8.40)	($12.80)	($8.40)	($8.80)	($9.20)	($14.40)	$0.00	($3.75)	($4.66)	($1.65)
Adjusted Weighted Average Diluted Shares Outstanding	1.05M	1.47M	1.57M	2.60M	3.12M	4.45M	4.61M	0.00	7.65M	13.07M	30.48M
Adjusted Basic & Diluted Earnings per Share	($8.40)	($8.40)	($12.80)	($8.40)	($8.80)	($9.20)	($14.40)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.05M	1.33M	1.51M	1.89M	2.56M	3.27M	4.45M	0.00	0.00	28.60M	32.17M
Normalized Net Operating Profit after Tax (NOPAT)	-6.10	-7.80	-13	-11	-16	-24	-19	-21	-16	-16	-21
Normalized NOPAT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-1,941.18%	-842.64%	-2,216.33%	-1,064.58%	-865.12%	-527.86%
Pre Tax Income Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-2,564.64%	-2,405.41%	-1,942.80%	-1,653.69%	-3,225.04%	-1,238.52%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	-88.29	-71.94	0.00	-116.62	0.00	-223.24	-476.98	-721.18	-459.75
NOPAT to Interest Expense	0.00	0.00	-60.80	-49.27	0.00	-82.53	0.00	-151.78	-338.37	-508.68	-328.32
EBIT Less CapEx to Interest Expense	0.00	0.00	-88.71	-72.08	0.00	-121.48	0.00	-275.53	-475.58	-727.27	-488.97
NOPAT Less CapEx to Interest Expense	0.00	0.00	-61.22	-49.41	0.00	-87.40	0.00	-204.07	-336.97	-514.77	-357.54
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-6.92%	0.00%	-0.41%	-14.66%	-0.19%	-4.17%	-0.53%	-1.54%	-2.27%	-0.97%

This table displays calculated financial ratios and metrics derived from Oncocyte's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	8,240,928.00	8,260,762.00	8,260,762.00	13,364,637.00	13,368,387.00	16,835,247.00	28,599,285.00	28,599,285.00	28,619,749.00	28,664,437.00	32,167,978.00
DEI Adjusted Shares Outstanding	8,240,928.00	8,260,762.00	8,260,762.00	13,364,637.00	13,368,387.00	16,835,247.00	28,599,285.00	28,599,285.00	28,619,749.00	28,664,437.00	32,167,978.00
DEI Earnings Per Adjusted Shares Outstanding	-0.81	-1.62	-1.13	-0.34	-1.01	-1.99	-0.23	-0.34	-0.38	-0.80	-0.13
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	540.30%	14.60%	-40.74%	-77.54%	-73.19%	373.25%	1,114.77%	398.08%	126.09%	-23.35%	-98.50%
EBITDA Growth	-1,287.39%	-46.01%	-236.28%	46.63%	-116.93%	-110.28%	29.94%	-118.26%	21.96%	32.06%	40.89%
EBIT Growth	-258.92%	-33.17%	-252.66%	45.64%	-107.91%	-109.53%	27.12%	-114.88%	19.59%	31.52%	35.76%
NOPAT Growth	-281.77%	-38.90%	-210.89%	44.15%	-107.51%	-107.84%	26.63%	-112.48%	18.25%	30.31%	35.09%
Net Income Growth	30.47%	64.44%	-400.99%	45.64%	-107.94%	-109.55%	26.93%	-115.06%	19.56%	31.50%	35.69%
EPS Growth	50.00%	78.53%	-382.50%	66.36%	-20.99%	-46.29%	76.99%	16.67%	65.31%	70.70%	53.85%
Operating Cash Flow Growth	66.93%	54.15%	53.86%	12.50%	-46.72%	-20.95%	-52.45%	-5.04%	18.59%	-3.63%	-30.83%
Free Cash Flow Firm Growth	216.68%	59.24%	25.21%	78.81%	-32.44%	252.55%	54.90%	119.05%	141.64%	-55.22%	-32.65%
Invested Capital Growth	-41.40%	-5.32%	-66.54%	-51.20%	-68.51%	-188.36%	-261.38%	-228.48%	-369.20%	-127.48%	-108.45%
Revenue Q/Q Growth	-7.34%	-26.81%	-43.95%	-40.91%	10.58%	1,192.17%	43.88%	-75.77%	-49.81%	338.08%	-97.19%
EBITDA Q/Q Growth	23.06%	-158.79%	43.92%	52.20%	-212.73%	-150.86%	81.31%	-48.89%	-11.83%	-118.40%	83.74%
EBIT Q/Q Growth	22.17%	-146.78%	42.96%	50.38%	-197.70%	-148.71%	80.16%	-46.30%	-11.40%	-111.82%	81.39%
NOPAT Q/Q Growth	21.47%	-148.41%	42.72%	50.02%	-191.77%	-148.81%	79.78%	-44.76%	-12.25%	-112.12%	81.17%
Net Income Q/Q Growth	22.13%	-146.45%	42.92%	50.38%	-197.86%	-148.36%	80.09%	-46.04%	-11.41%	-111.49%	81.31%
EPS Q/Q Growth	24.30%	-116.05%	35.43%	68.14%	-172.22%	-161.22%	89.84%	-15.38%	-13.33%	-120.59%	84.00%
Operating Cash Flow Q/Q Growth	44.83%	-17.38%	13.43%	-56.08%	7.49%	3.24%	-9.12%	-7.19%	28.30%	-23.17%	-37.76%
Free Cash Flow Firm Q/Q Growth	124.70%	-159.31%	258.13%	-15.15%	-15.10%	33.91%	60.57%	19.99%	-6.34%	-75.18%	141.51%
Invested Capital Q/Q Growth	-6.84%	-32.50%	-45.27%	41.82%	-39.88%	-289.38%	0.05%	-12.90%	-25.97%	-60.03%	8.41%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	57.81%	-37.26%	25.57%	48.08%	43.48%	40.04%	61.97%	67.57%	53.46%	42.49%	46.88%
EBITDA Margin	-1,410.02%	-4,985.35%	-4,988.07%	-4,034.62%	-11,410.43%	-2,215.21%	-287.70%	-1,767.95%	-3,938.85%	-1,963.65%	-11,362.50%
Operating Margin	-1,518.18%	-5,152.55%	-5,265.34%	-4,453.85%	-11,752.17%	-2,262.92%	-318.01%	-1,900.00%	-4,249.23%	-2,057.51%	-13,790.63%
EBIT Margin	-1,509.32%	-5,088.85%	-5,178.41%	-4,348.08%	-11,706.09%	-2,253.10%	-310.66%	-1,875.87%	-4,163.46%	-2,013.08%	-13,334.38%
Profit (Net Income) Margin	-1,512.59%	-5,092.99%	-5,186.93%	-4,355.77%	-11,733.04%	-2,255.11%	-312.02%	-1,880.70%	-4,174.62%	-2,015.36%	-13,406.25%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	100.22%	100.08%	100.16%	100.18%	100.23%	100.09%	100.44%	100.26%	100.27%	100.11%	100.54%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-37.42%	-254.42%	-225.20%	-130.06%	-288.92%	-2,470.64%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-28.08%	-213.07%	-190.32%	-118.35%	-220.70%	-2,287.80%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	9.32%	73.78%	47.74%	36.63%	49.98%	1,873.52%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-28.10%	-180.64%	-177.46%	-93.43%	-238.94%	-597.12%	-428.96%	-532.89%	-23,603.11%	229.65%	20,228.75%
Cash Return on Invested Capital (CROIC)	17.49%	-77.11%	-24.87%	-35.64%	-46.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-18.48%	-87.42%	-93.08%	-54.83%	-109.35%	-77.07%	-18.18%	-127.53%	-321.11%	-268.36%	-515.72%
Return on Assets (ROA)	-18.52%	-87.49%	-93.23%	-54.92%	-109.60%	-77.14%	-18.26%	-127.86%	-321.97%	-268.66%	-518.50%
Return on Common Equity (ROCE)	-25.84%	-151.74%	-145.53%	-87.22%	-216.40%	-367.33%	-344.68%	-532.89%	-23,603.11%	229.65%	20,228.75%
Return on Equity Simple (ROE_SIMPLE)	-151.13%	0.00%	-344.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-4.56	-11	-6.49	-3.24	-9.46	-24	-4.76	-6.89	-7.73	-16	-3.09
NOPAT Margin	-1,062.73%	-3,606.78%	-3,685.74%	-3,117.69%	-8,226.52%	-1,584.04%	-222.61%	-1,330.00%	-2,974.46%	-1,440.25%	-9,653.44%
Net Nonoperating Expense Percent (NNEP)	-9.34%	-41.35%	-34.88%	-11.71%	-68.23%	-182.84%	-11.21%	-20.10%	-36.98%	-80.71%	-4.29%
Return On Investment Capital (ROIC_SIMPLE)	-	-45.33%	-55.98%	-12.80%	-72.59%	243.25%	-37.40%	-190.26%	116.98%	55.90%	33.49%
Cost of Revenue to Revenue	42.19%	144.27%	74.43%	51.92%	56.52%	59.96%	38.03%	32.43%	46.54%	57.51%	53.13%
SG&A Expenses to Revenue	579.72%	557.96%	1,518.75%	2,314.42%	2,230.43%	172.21%	145.70%	511.00%	978.85%	204.21%	9,346.88%
R&D to Revenue	509.32%	811.15%	1,313.64%	2,358.65%	2,449.57%	151.88%	136.76%	633.40%	1,491.54%	510.71%	15,478.13%
Operating Expenses to Revenue	1,575.99%	5,115.29%	5,290.91%	4,501.92%	11,795.65%	2,302.96%	379.98%	1,967.57%	4,302.69%	2,100.00%	13,837.50%
Earnings before Interest and Taxes (EBIT)	-6.48	-16	-9.11	-4.52	-13	-33	-6.64	-9.72	-11	-23	-4.27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-6.05	-16	-8.78	-4.20	-13	-33	-6.15	-9.16	-10	-22	-3.64
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.68	1.01	2.09	1.74	3.92	0.00	8.56	78.66	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	17.57	13.74	17.51	38.54	53.74	21.30	22.77	20.29	21.59	53.02	54.14
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.61	1.01	2.11	2.04	3.94	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	12.83	13.88	17.34	32.07	53.68	18.09	15.35	15.18	17.76	50.50	40.04
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	2.58	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.06	0.18	0.00	0.12	0.34	-0.21	0.25	2.30	-0.28	-0.07	-0.14
Long-Term Debt to Equity	0.06	0.09	0.00	0.12	0.28	-0.19	0.20	1.67	-0.17	-0.05	-0.12
Financial Leverage	-0.33	-0.35	-0.25	-0.31	-0.23	-0.82	-1.26	-1.19	-32.77	0.37	118.36
Leverage Ratio	1.92	2.68	2.55	2.28	2.91	8.26	4.84	5.26	221.66	-1.39	-213.08
Compound Leverage Factor	1.92	2.69	2.55	2.29	2.92	8.26	4.86	5.28	222.25	-1.39	-214.23
Debt to Total Capital	5.25%	15.00%	0.00%	10.41%	25.49%	-26.84%	19.70%	69.68%	-39.10%	-7.22%	-15.89%
Short-Term Debt to Total Capital	0.00%	7.68%	0.00%	0.00%	4.71%	-2.36%	3.40%	19.03%	-15.97%	-1.46%	-1.72%
Long-Term Debt to Total Capital	5.25%	7.32%	0.00%	10.41%	20.78%	-24.48%	16.30%	50.65%	-23.13%	-5.76%	-14.17%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	10.98%	17.02%	31.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	83.77%	67.97%	68.49%	89.59%	74.51%	126.84%	80.30%	30.32%	139.10%	107.22%	115.89%
Debt to EBITDA	-0.13	-0.20	0.00	-0.08	-0.08	-0.04	-0.04	-0.04	-0.04	-0.04	-0.03
Net Debt to EBITDA	0.65	0.21	0.00	0.19	0.00	0.10	0.51	0.35	0.29	0.21	0.60
Long-Term Debt to EBITDA	-0.13	-0.10	0.00	-0.08	-0.06	-0.04	-0.04	-0.03	-0.03	-0.04	-0.03
Debt to NOPAT	-0.16	-0.26	0.00	-0.10	-0.11	-0.06	-0.06	-0.06	-0.06	-0.06	-0.04
Net Debt to NOPAT	0.82	0.28	0.00	0.26	0.00	0.14	0.70	0.49	0.39	0.28	0.81
Long-Term Debt to NOPAT	-0.16	-0.13	0.00	-0.10	-0.09	-0.06	-0.05	-0.04	-0.04	-0.05	-0.04
Altman Z-Score	-4.39	-5.80	-6.06	-5.37	-6.64	-16.42	-7.01	-9.19	-11.30	-22.16	-12.54
Noncontrolling Interest Sharing Ratio	8.04%	16.00%	17.99%	6.65%	9.43%	38.48%	19.65%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.11	1.49	0.78	1.38	0.53	1.62	3.75	4.04	2.79	1.27	2.54
Quick Ratio	2.01	1.38	0.69	1.30	0.39	1.41	3.57	3.73	2.47	1.05	2.36
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	17	-10	16	14	12	15	25	30	28	6.94	17
Operating Cash Flow to CapEx	0.00%	-1,675.76%	-15,958.33%	-3,129.84%	-6,356.32%	-2,500.47%	-1,901.95%	-1,799.14%	-428.76%	-374.92%	-1,246.17%
Free Cash Flow to Firm to Interest Expense	1,223.71	-781.56	1,071.07	1,704.08	373.37	516.64	858.16	1,194.46	964.43	266.94	728.78
Operating Cash Flow to Interest Expense	-269.21	-340.31	-255.33	-747.25	-178.39	-178.37	-201.34	-251.16	-155.24	-213.27	-332.13
Operating Cash Flow Less CapEx to Interest Expense	-253.93	-360.62	-256.93	-771.13	-181.19	-185.50	-211.93	-265.12	-191.45	-270.15	-358.78
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.01	0.02	0.02	0.01	0.01	0.03	0.06	0.07	0.08	0.13	0.04
Accounts Receivable Turnover	0.76	1.20	1.34	1.14	0.68	1.79	2.08	14.26	18.85	2.96	1.05
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.67	4.11	2.29
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.25	0.49	0.35	0.36	0.37	0.66	0.62	1.18	1.13	0.63	0.27
Days Sales Outstanding (DSO)	483.01	303.07	272.30	321.29	538.23	203.46	175.76	25.59	19.36	123.36	346.18
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	64.37	88.91	159.71
Days Payable Outstanding (DPO)	1,478.09	749.25	1,034.29	1,002.97	991.42	554.06	586.14	308.85	321.87	575.65	1,349.28
Cash Conversion Cycle (CCC)	-995.09	-446.18	-762.00	-681.68	-453.19	-350.60	-410.39	-283.25	-238.14	-363.37	-843.39
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	31	21	11	16	9.67	-18	-18	-21	-26	-42	-38
Invested Capital Turnover	0.04	0.07	0.06	0.04	0.04	1.56	-1.10	-1.86	-0.54	-0.14	-0.07
Increase / (Decrease) in Invested Capital	-22	-1.17	-23	-17	-21	-39	-30	-37	-36	-23	-20
Enterprise Value (EV)	19	21	24	33	38	34	59	65	78	205	78
Market Capitalization	26	21	24	39	38	40	88	86	95	215	106
Book Value per Share	$4.56	$2.48	$1.40	$1.70	$0.73	($0.73)	$0.36	$0.04	($0.32)	($1.10)	($0.33)
Tangible Book Value per Share	($2.31)	($4.37)	($5.45)	($2.53)	($3.50)	($1.60)	($0.15)	($0.47)	($0.83)	($1.10)	($0.33)
Total Capital	45	30	17	25	13	-9.68	13	3.62	-6.61	-29	-9.23
Total Debt	2.35	4.52	0.00	2.64	3.32	2.60	2.51	2.52	2.59	2.12	1.47
Total Long-Term Debt	2.35	2.20	0.00	2.64	2.71	2.37	2.07	1.83	1.53	1.69	1.31
Net Debt	-12	-4.91	-5.58	-6.62	-0.04	-6.04	-29	-22	-17	-10	-27
Capital Expenditures (CapEx)	-0.21	0.26	0.02	0.19	0.09	0.21	0.31	0.35	1.05	1.48	0.61
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-5.34	-3.61	-7.37	-6.49	-7.05	-3.92	-4.02	-3.41	-4.64	-8.65	-10
Debt-free Net Working Capital (DFNWC)	8.88	5.82	-1.79	2.77	-3.68	4.71	27	21	15	3.66	19
Net Working Capital (NWC)	8.88	3.50	-1.79	2.77	-4.30	4.48	27	20	14	3.23	19
Net Nonoperating Expense (NNE)	1.93	4.67	2.64	1.29	4.03	9.97	1.91	2.85	3.12	6.55	1.20
Net Nonoperating Obligations (NNO)	-12	-4.87	-5.58	-6.62	-0.04	-6.04	-29	-22	-17	-10	-27
Total Depreciation and Amortization (D&A)	0.43	0.33	0.34	0.33	0.34	0.56	0.49	0.56	0.58	0.56	0.63
Debt-free, Cash-free Net Working Capital to Revenue	-365.00%	-240.45%	-533.29%	-634.02%	-993.79%	-208.61%	-104.50%	-80.06%	-105.32%	-213.39%	-526.37%
Debt-free Net Working Capital to Revenue	607.25%	387.09%	-129.67%	270.77%	-519.46%	250.51%	702.91%	490.46%	335.87%	90.23%	957.98%
Net Working Capital to Revenue	607.25%	233.13%	-129.67%	270.77%	-606.06%	238.38%	691.65%	474.28%	311.88%	79.68%	949.82%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.81)	($1.75)	($1.13)	($0.36)	($0.98)	($2.56)	($0.26)	($0.30)	($0.34)	($0.75)	($0.12)
Adjusted Weighted Average Basic Shares Outstanding	8.26M	7.65M	8.26M	12.87M	13.71M	13.07M	25.69M	32.02M	32.03M	30.48M	34.52M
Adjusted Diluted Earnings per Share	($0.81)	($1.75)	($1.13)	($0.36)	($0.98)	($2.56)	($0.26)	($0.30)	($0.34)	($0.75)	($0.12)
Adjusted Weighted Average Diluted Shares Outstanding	8.26M	7.65M	8.26M	12.87M	13.71M	13.07M	25.69M	32.02M	32.03M	30.48M	34.52M
Adjusted Basic & Diluted Earnings per Share	$0.00	($1.75)	$0.00	$0.00	$0.00	($2.56)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	8.26M	0.00	13.36M	13.37M	16.84M	28.60M	28.60M	28.62M	28.66M	32.17M	32.29M
Normalized Net Operating Profit after Tax (NOPAT)	-3.60	-3.50	-4.05	-3.96	-4.46	-33	-4.14	-4.93	-5.37	-17	-7.23
Normalized NOPAT Margin	-838.21%	-1,114.20%	-2,301.25%	-3,811.63%	-3,880.43%	-2,229.21%	-193.83%	-951.08%	-2,065.00%	-1,508.78%	-22,599.06%
Pre Tax Income Margin	-1,512.59%	-5,092.99%	-5,186.93%	-4,355.77%	-11,733.04%	-2,255.11%	-312.02%	-1,880.70%	-4,174.62%	-2,015.36%	-13,406.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-462.50	-1,229.15	-607.60	-565.25	-434.26	-1,116.03	-229.03	-388.68	-373.28	-881.88	-185.52
NOPAT to Interest Expense	-325.65	-871.18	-432.46	-405.30	-305.18	-784.63	-164.11	-275.58	-266.68	-630.94	-134.31
EBIT Less CapEx to Interest Expense	-447.21	-1,249.46	-609.20	-589.13	-437.06	-1,123.17	-239.62	-402.64	-409.48	-938.77	-212.17
NOPAT Less CapEx to Interest Expense	-310.36	-891.48	-434.06	-429.18	-307.98	-791.76	-174.70	-289.54	-302.88	-687.83	-160.96
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.75%	-1.54%	0.00%	-1.49%	-1.25%	-2.27%	-3.20%	-2.09%	-2.18%	-0.97%	-2.47%

Financials Breakdown Chart

Key Financial Trends

Oncocyte’s latest quarter shows a major improvement in cash, but the business is still deeply loss-making and highly dependent on external funding. In Q1 2026, the company reported just $32,000 in revenue and a net loss of $4.3 million. The good news is that a large equity raise lifted cash sharply, but operating performance remains weak and dilution is a major concern for shareholders.

Cash and equivalents jumped to $28.2 million in Q1 2026 from $18.7 million in Q3 2025, helped by a large equity issuance.
The company raised $26.0 million from common equity in Q1 2026, giving it more near-term liquidity.
Total current assets improved to $30.5 million, and current liabilities fell to $12.0 million from $7.7 million in Q3 2025, though the balance sheet is still not strong overall.
Net cash from investing activities was modestly negative at -$613,000, which suggests limited capital spending.
Q1 2026 gross profit was only $15,000 on $32,000 of revenue, showing the company is still operating at a very small commercial scale.
Operating expenses remain elevated at $10.4 million in Q1 2026, with R&D, SG&A, and marketing consuming far more than revenue can support.
The company still reported a negative operating margin, with operating loss of $4.4 million in Q1 2026.
A large portion of the balance sheet is tied up in intangible assets and other noncurrent operating assets, which may be less flexible than cash.
Operating cash flow was -$7.6 million in Q1 2026, continuing a long pattern of cash burn.
Share dilution is significant: weighted average shares rose to 34.5 million in Q1 2026 from 30.5 million in Q4 2025, reflecting repeated equity financing.

Longer-term trend: Oncocyte’s quarterly revenue has been volatile and generally small, ranging from just a few hundred thousand dollars to about $2.1 million in Q1 2025, before dropping sharply again in recent quarters. Meanwhile, losses have remained large, although the worst quarters appear to have come from one-time charges rather than pure operating performance alone.

Cash flow trend: The company has consistently burned cash from operations over the last four years. Quarterly operating cash flow was negative in every period shown, including -$3.8 million in Q1 2024, -$6.3 million in Q2 2025, -$5.5 million in Q4 2025, and -$7.6 million in Q1 2026.

Balance sheet trend: Oncocyte’s equity position has been highly volatile. Total common equity swung from $10.2 million in Q1 2025 to -$10.7 million in Q1 2026, reflecting accumulated losses and balance sheet strain. Total liabilities also remain heavy at $51.1 million in Q1 2026.

Bottom line: Oncocyte appears to have enough cash for now, but the underlying business is still not self-funding. Investors should focus on whether management can convert recent financing into meaningful revenue growth and better operating leverage, because without that, further dilution could remain a recurring risk.

07/14/26 07:26 AM ETAI Generated. May Contain Errors.

Oncocyte Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Oncocyte's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Oncocyte's net income appears to be on an upward trend, with a most recent value of -$50.22 million in 2025, rising from -$8.74 million in 2015. The previous period was -$60.66 million in 2024. See Oncocyte's forecast for analyst expectations on what's next for the company.

Oncocyte's total operating income in 2025 was -$51.12 million, based on the following breakdown:

Total Gross Profit: $2.30 million
Total Operating Expenses: $53.42 million

Over the last 10 years, Oncocyte's total revenue changed from $0.00 in 2015 to $4.06 million in 2025, a change of 405,500,000.0%.

Oncocyte's total liabilities were at $57.22 million at the end of 2025, a 20.8% increase from 2024, and a 2,372.8% increase since 2015.

In the past 10 years, Oncocyte's cash and equivalents has ranged from $7.14 million in 2020 to $32.95 million in 2021, and is currently $11.58 million as of their latest financial filing in 2025.

Over the last 10 years, Oncocyte's book value per share changed from 0.50 in 2015 to -1.10 in 2025, a change of -321.4%.

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Financial statements for NASDAQ:IMDX last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Oncocyte (IMDX) Financials

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Oncocyte (IMDX) Financials

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