gross margin
—
FY 2028
management target
ELUTIA INC.
Last · —$0.735-0.038 (-4.92%)live · yahoo · 0s ago
Market cap$32.55M—
P/E · TTM—fwd — · eps —
Beta—vs S&P 500
Div yield—annual · TTM
52w range
——
Volume—session
| Revenue | $12.1M |
|---|---|
| Operating income | $-14.3M |
| Net income | $-15.1M |
| Free cash flow | $-16.8M |
| Operating margin | -117.9% |
| Net margin | -124.5% |
| Return on equity | -96.0% |
| Period | TTM 2026-06-30 |
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OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
Strong BuyBuyHoldSellStrong Sell
do not buy yet; keep ELUT on a high-risk watchlist.
Q2 sales fell to $2.4 million, continuing-operations net loss was $7.6 million, and the company remains pre-commercial, with NXT-41 clearance targeted for Q4 2026 and NXT-41x for 1H27. The upside is meaningful funding—$19.9 million of cash plus up to $34 million from signed or anticipated transactions—and a potentially differentiated product, but the investment case still depends on FDA clearance, hospital VAC adoption, and execution through a 2028 launch.
Themes
- Nxt 41x
- Fda Clearance
- Breast Reconstruction
- Hospital Vac Adoption
- Manufacturing Scale
- Simpliderm Divestiture
Near term
SimpliDerm closing is expected in Q3 2026, with $8 million of cash at closing; the quarter also exposed supply-chain fragility through a $0.7 million revenue hit from a contract-manufacturer disruption.
The anticipated $8 million Boston Scientific escrow release in Q4 2026 and the $5 million undrawn Avenue Capital tranche are important liquidity milestones, but both are timing- or event-dependent.
The NXT-41 FDA decision in Q4 2026 is the next major binary catalyst. Management described its FDA meeting as positive but did not disclose the agency’s specific remaining concerns or the status of the response package.
A potential cardiovascular transaction could reduce costs and sharpen focus, but it remains unsigned and unquantified.
Management explicitly expects the 2H27 soft launch to generate limited revenue while products move through hospital value analysis committees.
Longer term
NXT-41x could address an established $1.5 billion U.S. breast-reconstruction biologic-matrix market, with management targeting greater than 80% gross margin at scale and $300 million of production capacity at launch.
The independent survey is directionally supportive—96% of 50 surgeons expressed adoption interest and 92% said they would champion the product at a hospital VAC—but it measures stated intent, not utilization, reimbursement, pricing, or repeat demand.
Hospital VAC approval is the central commercial bottleneck. Management said its 2027 launch strategy is effectively “value analysis committee, value analysis committee, value analysis committee,” making execution and sales-cycle length more important than surgeon enthusiasm alone.
The company is concentrating on NXT-41x after divestitures, which improves strategic focus but leaves shareholders with a largely single-product thesis and substantial regulatory and commercialization risk.
Red flags
Management characterized the FDA interaction as productive but declined to discuss the substance of the agency’s questions or the specific regulatory risks still outstanding.
The survey was small at 50 surgeons and provides no evidence of pricing acceptance, hospital approvals, clinical outcomes, reimbursement, or actual purchasing behavior.
The $54 million total cash-source figure includes anticipated and contingent amounts: the $8 million escrow, up to $3 million in SimpliDerm milestones, and $5 million available only after NXT-41x clearance.
Q2 adjusted EBITDA was negative $4.6 million, worse than negative $3.0 million a year earlier, as R&D spending rose $1.5 million. Funding runway therefore depends on management’s forecast and successful achievement of multiple milestones.
A contract-manufacturer disruption reduced SimpliDerm revenue by $0.7 million, highlighting execution risk even as management transitions NXT-41x manufacturing in-house.
Management did not provide launch pricing, market-share assumptions, sales-force investment, reimbursement detail, or a quantified path from $300 million of capacity to revenue.
Forward outlook
revenue
—
FY 2028
management framework
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
From latest 10-K · 2026-03-13
- Sbc Revenue High
- Operating Cf Burn
- Cash Conversion Weak
- Cash Runway Low
- Accumulated Deficit High
Red flags
- Sbc Revenue High — SBC/Revenue 42.4%
- Operating Cf Burn — Negative operating cash flow
- Cash Conversion Weak — Cash conversion (CFO/Rev) -364.5%
- Cash Runway Low — Cash runway ~0.8 years
- Accumulated Deficit High — Accumulated deficit / equity 637%
Upcoming earnings
9:00 PM UTC+1
Period
Sep 2026
Est. EPS
−$0.15
Est. revenue
1.0M
Earnings transcripts
Press & signals
- GlobeNewswire
Elutia Receives $8 Million Payment from Boston Scientific; Company Now Fully Funded into 2029
- GlobeNewswire
Elutia Completes SimpliDerm® Sale on Schedule, Adds $8 Million in Cash to Fund NXT-41x Through Full Commercial Launch
- GlobeNewswire
Elutia Secures Up to $26 Million to Fund NXT-41x Through Commercial Launch; Reports Second Quarter 2026 Results
The rest of this company's wire — with summaries and source links — is part of Pro.
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