All three tenses have at least two readings, so the archetype blend applies as printed.
Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.
What did they actually do?
Has it survived what it has been through?
5 warning events since 2017; the latest 2022-12-07.
From the record
Lipocine Inc.'s filings since 2017 show 5 warning events of 2 kinds: a notice about its exchange listing (8-K item 3.01, 4 times, the latest 2022-12-07); an auditor change (8-K item 4.01, the latest 2018-06-29) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
10 filed years; profitable in 1 of 10.
From the record
Lipocine Inc.'s 10 filed years say what it did: it rose in 0 of 5 years; the deepest fall was 118% from fiscal 2021 to fiscal 2023; net income was positive in 1 of 10 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
SI estimate 7.8/10, confidence 35 of 100 (one part).
SI estimate Inferred, not read as filed
From the record
SI estimate, not a filed reading: Lipocine Inc.'s shareholder treatment is put at 7.8 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the top 22% of 464 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.
What are they doing right now?
Is it financially healthy right now?
ROE -67%: lost 67¢ per shareholder dollar. Leverage 15%: owes 15¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2025-12-31, Lipocine Inc. lost about 67 cents for every dollar of shareholders' money. Leverage: it owed about 15 cents per dollar of assets, and net share issuance: its share count grew 5.3% over the year (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
bottom 48% of 315 in its family; net margin -487.1%.
From the record
Lipocine Inc.'s standing among 315 graded names in its industry family: revenue of $2 million in fiscal 2025 ranks in the bottom 27% by size; a net margin of -487.1% ranks in the bottom 37%; revenue growth of 58.1% a year over the last 3 filed years ranks in the top 21% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
top 37% of 315 in its family for leadership; chief executive since 2013.
From the record
Lipocine Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Patel, Mahesh V. (Chief Executive Officer, as filed), filing under that title since 2013-08-02, 13.3 years (top 8% of its family); the 6 officers and directors filing in the last fifteen months have been on the record a median of 8.8 years (top 14%); 6 officer or director changes were reported on Form 8-K since 2023-11-13, against the 6 people in charge now (bottom 11%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they set up to do next?
How much room does it have to grow?
top 48% of 273 in its family for room to expand.
From the record
Lipocine Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $5 million against no long-term debt tagged leaves 30.6% of its assets as net cash, top 47% of its family; cash from operations less capital spending is -493.8% of revenue (bottom 34%); research spending of 434.3% of revenue (top 31%) (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What could actually drive growth from here?
bottom 49% of 306 in its family for growth drivers.
From the record
Lipocine Inc.'s growth drivers, from the filed years to fiscal 2025: the newest year grew -82.4% (bottom 7%); research spending grew 0.1% a year (bottom 48%); capital spending grew 128.1% a year (top 7%) (its annual reports). Lipocine Inc. reported 2 product lines in fiscal 2025: License at $2 million (76%), Royalty at $477 thousand (24%); 1 of 2 grew against the year before (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
bottom 41% of 233 in its family for expectations against reality.
From the record
Lipocine Inc.'s newest year against its own record: revenue of $2 million in fiscal 2025 came in 96.3% below the $53 million its prior three years' pace pointed to (bottom 3% of its family); net income of $10 million against a prior three-year average of $9 million (bottom 38%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 17%) (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made