Onconetix, Inc. stock research
FY2026 Q1
Onconetix (ONCO) Gross Margin — Quarter Ended Mar 31, 2026
Revenue declined sharply versus the prior quarter, and gross profit turned negative as cost of revenue exceeded revenue. Compared with a year ago, revenue also fell and gross margin weakened, reflecting a larger gap between revenue and cost.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue declined sharply versus the prior quarter, and gross profit turned negative as cost of revenue exceeded revenue. Compared with a year ago, revenue also fell and gross margin weakened, reflecting a larger gap between revenue and cost.
- Cost of revenue was the strongest observable margin driver; it remained nearly unchanged from a year ago while revenue dropped substantially, causing gross margin to deteriorate sharply.
- Revenue was lower than both the immediately preceding quarter and the same quarter a year earlier. Gross margin weakened compared with both periods, turning from positive to negative.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
-7.7%
Gross profit
-$1655
Revenue
$21457
Cost of revenue
$23112
Quarter-over-quarter change
-89.3 pts
Year-over-year change
-52.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2025 | $106494 | $70503 | $35991 | 66.2% |
| Sep 30, 2025 | $303651 | $268894 | $34757 | 88.6% |
| Dec 31, 2025 | $303596 | $247684 | $55912 | 81.6% |
| Mar 31, 2026 | $21457 | -$1655 | $23112 | -7.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
-89.3 pts
Year-over-year change
Mar 31, 2025
-52.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Cost of revenue was the strongest observable margin driver; it remained nearly unchanged from a year ago while revenue dropped substantially, causing gross margin to deteriorate sharply.
Revenue was lower than both the immediately preceding quarter and the same quarter a year earlier. Gross margin weakened compared with both periods, turning from positive to negative.
Monitor whether the company can sustain revenue at levels sufficient to cover cost of revenue.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Onconetix, Inc. (ONCO) | -7.7% |