OVIDOvid Therapeutics Inc.
Pharmaceutical Preparations
- Revenue
- $7M
- 1181% YoY
- Operating margin
- -585.2%
- 95% YoY
- EBITDA
- −$42M
- 31% YoY
- Market cap
- $469M
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- 1.0
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo$2M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCYes66% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo90% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo1.0 per 10K words · 35th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$469M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$29K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $208M | $2M | $392K | $566K | $7M | 1181% |
| Operating income | $124M | −$56M | −$59M | −$62M | −$42M | 31% |
| Net income | $123M | −$54M | −$52M | −$26M | −$17M | 34% |
| Operating cash flow | $119M | −$55M | −$46M | −$56M | −$38M | 31% |
| Capex | $184K | $1M | $40K | $71K | $0 | 100% |
| Stock-based comp | $5M | $7M | $7M | $6M | $5M | 23% |
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Oct 27, 2025 | PREM14A | — | $1400.00 | — |
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| May 27, 2020 | TLS Advisors LLC | SC 13D/A | 4.5% | Active |
| May 13, 2020 | TradeLink Holdings LLC | SC 13D/A | 4.5% | Active |
| Nov 27, 2019 | TLS Advisors LLC | SC 13D/A | 6.2% | Active |
| Oct 7, 2019 | TLS Advisors LLC | SC 13D/A | 7.3% | Active |
| Mar 1, 2019 | TLS Advisors LLC | SC 13D | 9.0% | Active |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $29K · 2
- Net
- −$29K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $2M | $4M | 88 | — |
| FY2024 | $3M | $36K | 29 | — |
| FY2023 | $2M | $3M | 100 | — |