ELUTIA INC.

Listed Company

ELUTCIK 0001708527NasdaqNon-AcceleratedSmaller ReportingBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$53.38M

Total Assets

$62.35M

Equity

$27.67M

Shares Out

648.7K

Op. Cash Flow

$-44.80M

Business

ELUTIA INC. develops and commercializes regenerative medicine products that aim to improve outcomes and reduce complications associated with implanted medical devices and soft tissue reconstruction. Its principal products include EluPro, an antibiotic‑eluting biologic envelope for implantable electronic devices, CanGaroo, a non‑drug biologic envelope, and SimpliDerm, a human acellular dermal matrix for soft tissue repair and breast reconstruction, plus cardiovascular ECM patch products. The company organizes activities across Device Protection, Women’s Health and Cardiovascular segments. It primarily sells in the United States through a direct sales force, independent agents and commercial partners such as Boston Scientific, Tiger and LeMaitre Vascular.

Summary from filing dated 2025-03-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	12	14	25	24	47
Cost of goods sold	6	8	14	12	28
Gross profit	7	7	11	12	19
Sales and marketing	6	5	13	18	19
General and administrative	15	18	14	16	14
Research and development	4	3	4	8	9
Litigation costs, net	8	11	10	5	276,000
Total operating expenses	34	37	42	47	42
Loss from continuing operations	−27	−31	−31	−35	−23
Interest (income) expense, net	387,000	−934,000	—	—	—
(Gain) loss on revaluation of warrant liability	−13	15	4	—	—
Other expense (income), net	3	−1	759,000	−4	−4
Loss from continuing operations before provision for income taxes	−16	−45	−41	−36	−25
Income tax expense	13,000	7,000	28,000	34,000	55,000
Net loss from continuing operations	−16	−45	−41	−36	—
(Income) loss from discontinued operations	69	−9	4	3	—
Net income (loss)	53	−54	−38	−33	−25
Less: dilutive gain on revaluation of warrant liability	−13	—	—	—	—
Net income (loss) for dilutive earnings per share	40	−54	—	—	—
Net loss from continuing operations per share - basic (in dollars per share)	−0.38	−1.56	−2.27	−2.62	—
Net loss from continuing operations per share - diluted (in dollars per share)	−0.64	−1.56	−2.27	−2.62	—
Net income (loss) from discontinued operations per share - basic (in dollars per share)	1.67	−0.3	0.2	0.24	—
Net income (loss) from discontinued operations per share - diluted (In dollars per share)	1.51	−0.3	0.2	0.24	—
Net income (loss) per share - basic (in dollar per share)	1.29	−1.86	−2.07	−2.38	−2.38
Net income (loss) per share - diluted (in dollar per share)	0.87	−1.86	−2.07	−2.38	−2.38
Weighted average common shares outstanding - basic (in shares)	41	29	18	14	10
Weighted average common shares outstanding - diluted (in shares)	46	29	18	14	10

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	36	13	19	17	30
Accounts receivable, net	2	2	3	4	6
Inventory	3	2	4	4	10
Insurance receivables of litigation costs	5	5	3	14	—
Prepaid expenses and other current assets	2	2	2	2	1
Divestiture proceeds receivable	8	—	—	—	—
Current assets of discontinued operations	—	2	—	9	—
Total current assets	56	26	31	51	47
Property and equipment, net	3	671,000	172,000	245,000	1
Intangible assets, net	2	3	12	15	18
Operating lease right-of-use assets and other	2	179,000	332,000	320,000	76,000
Noncurrent assets of discontinued operations	—	7	—	3	—
Total assets	62	36	43	69	67
Accounts payable	5	4	3	1	2
Accrued expenses	4	7	9	9	6
Current portion of long-term debt	—	1	3	—	8
Current portion of revenue interest obligation	4	4	12	9	3
Contingent liability for legal proceedings	11	20	15	17	—
Current operating lease liabilities	355,000	145,000	275,000	232,000	5,000
Current liabilities of discontinued operations	—	315,000	—	5	—
Total current liabilities	25	38	43	43	26
Long-term debt	—	23	20	24	10
Long-term revenue interest obligation	3	5	5	6	17
Warrant liability	3	16	13	—	—
Long-term operating lease liabilities	4	16,000	—	956,000	—
Noncurrent liabilities of discontinued operations	—	407,000	—	956,000	—
Total liabilities	35	82	82	74	54
Commitments and contingencies	—	—	—	—	—
Additional paid-in capital	204	183	137	133	119
Accumulated deficit	−176	−230	−176	−138	−105
Total stockholders' deficit	28	−46	−39	−5	14
Total liabilities and stockholders' deficit	62	36	43	69	67

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	53	−54	−38	−33	−25
Depreciation and amortization	3	3	4	4	4
Gain on sale of Business	−80	−180,000	−8	—	—
Loss on early repayment of debt	−1	—	—	311,000	−3
Gain on revaluation of revenue interest obligation	—	−1	—	−5	—
Interest expense recorded as additional revenue interest obligation or long-term debt	4	3	3	3	3
Stock-based compensation	5	8	2	4	4
Bad debt expense	458,000	460,000	590,000	—	—
Other	−608,000	−216,000	—	—	—
Payments on revenue interest obligation	−2	—	—	—	—
Accounts receivable	84,000	527,000	802,000	−834,000	1
Inventory	−2	−58,000	−609,000	−498,000	563,000
Receivables of litigation costs	−86,000	−2	11	−14	—
Prepaid expenses and other	−285,000	743,000	167,000	−2	1
Accounts payable and accrued expenses	−7	−1	−2	5	−420,000
Contingent liability for legal proceedings	−9	5	−2	17	—
Other liabilities	1	−465,000	−70,000	−571,000	−552,000
Net cash used in operating activities	−45	−23	−22	−21	−15
Proceeds from sale of Business	80	180,000	15	—	—
Expenditures for property and equipment	−2	−654,000	−346,000	−540,000	−369,000
Net cash used in investing activities	79	−474,000	14	−540,000	−369,000
Proceeds from public offering or private placement with warrants, net of offering costs	14	12	10	10	14
Proceeds (repayments) of long-term debt, net	−23	−2	−2	6	—
Proceeds from exercises of Common Warrants and Prefunded Warrants	—	16	—	—	—
Payments on revenue interest obligation	—	−7	—	−2	−3
Proceeds from insurance premium financings	—	1	2	—	—
Repayments of insurance premium financings	−1	−2	−472,000	—	—
Payments for taxes upon vesting of restricted stock units	−380,000	−1	−32,000	−395,000	—
Proceeds from stock option exercises and issuance common stock under ESPP	112,000	162,000	219,000	317,000	208,000
Net cash provided by financing activities	−11	17	10	9	7
Net increase (decrease) in cash and cash equivalents	23	−6	2	−13	−9
Cash paid for interest	7	5	2	5	5
Deferred proceeds from sale of CIED Business recognized as receivable	8	—	—	—	—
Issuance of common stock as payment under revenue interest obligation	2	—	—	—	—
Additions to operating lease right-of-use assets	2	1	—	—	—
Conversion of Common Warrants and Prefunded Warrants to common stock	727,000	20	—	—	—

Filings

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