One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Elutia Inc.
ELUT · NCM · Healthcare · Medical Devices
Current price
$0.82
52-week range
$0.50 - $1.39
Market cap
$36.31M
Balance sheet
Healthy
-20.46x Concerning
Net cash $15.52M. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
2 Risks
0 rewards · 2 risks
- Risk Operating margin compressed from -125.7% to -243.1% over 3 years.
- Risk Insider ownership is only 3.6% (peer median: 8.2%).
What this company does
Elutia Inc.
Elutia creates advanced biological materials that surgeons use to help the body repair itself, focusing on areas like heart surgery and women's health procedures. They are also developing products that act as a scaffold for new tissue growth while delivering medicine directly to the surgical site to prevent infection. The company makes its money by selling these specialized products directly to hospitals and other healthcare providers.
How the company got here
Elutia was founded in 2015 as Aziyo Biologics, with a focus on regenerative medicine. A key turning point was its strategic shift to developing products that combine biologic materials with drugs to improve surgical outcomes. This led to the company rebranding as Elutia in September 2023 to reflect this new focus. The company has grown through partnerships and has had to navigate challenges like product recalls in its past.
What it actually does
Elutia creates and sells medical products made from biological materials designed to help the body heal and to reduce complications after surgery. Think of them as special bandages or scaffolds that are used inside the body during operations. For example, they make products used in heart surgery and for women's health procedures like breast reconstruction. These products are sold directly to hospitals and other healthcare facilities.
Women's Health
This part of the business provides a product called SimpliDerm, which is a sheet of human-derived tissue used for soft tissue reconstruction, most commonly in breast reconstruction surgery after a mastectomy. Hospitals and surgeons are the customers who pay for this product to help support and shape the new breast. This is a significant part of Elutia's business. The company is also developing a new version that will release antibiotics to help prevent infections.
Cardiovascular
The Cardiovascular segment makes several products used to repair heart tissues and blood vessels. These include patches called ProxiCor, Tyke, and VasCure that surgeons use to mend defects in the heart or to reconstruct blood vessels. For instance, Tyke is specifically designed for newborns and infants needing heart repairs. Hospitals purchase these products for their cardiac surgery departments, and this segment represents a notable portion of the company's sales.
What management is betting on now
Management is heavily focused on its drug-eluting biomatrix (a biological material that slowly releases a drug) technology. A major priority is the launch and market adoption of EluPro, a biologic envelope that releases antibiotics to protect pacemakers and other implantable electronic devices from complications. They are also developing new products based on this technology for other areas like breast reconstruction and neurostimulators (devices that send electrical signals to the nervous system). The company sees this combination of biologic materials and local drug delivery as its key to future growth and improving patient outcomes.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-3.97M
FY2024 Q4
$-12.35M
FY2025 Q1
$-9.16M
FY2025 Q2
$-8.34M
FY2025 Q3
$-3.52M
FY2025 Q4
$-25.67M
FY2026 Q1
$-8.29M
FY2026 Q2
$-8.55M
Revenue
—
Net income
$-7.65M
Diluted EPS
-0.17
Operating cash flow
$-8.46M
Free cash flow
$-8.55M
Fetching…
Sources
Revenue
—
Net income
$-7.47M
Diluted EPS
-0.17
Operating cash flow
$-7.83M
Free cash flow
$-8.29M
Fetching…
Sources
Revenue
—
Net income
$70.79M
Diluted EPS
1.53
Operating cash flow
$-24.81M
Free cash flow
$-25.67M
Fetching…
Sources
Revenue
—
Net income
$-3.87M
Diluted EPS
-0.19
Operating cash flow
$-2.89M
Free cash flow
$-3.52M
Fetching…
Sources
Revenue
—
Net income
$-9.61M
Diluted EPS
-0.26
Operating cash flow
$-8.23M
Free cash flow
$-8.34M
Fetching…
Sources
Revenue
—
Net income
$-3.93M
Diluted EPS
-0.21
Operating cash flow
$-8.88M
Free cash flow
$-9.16M
Fetching…
Sources
Revenue
—
Net income
$-9.06M
Diluted EPS
0.35
Operating cash flow
$-12.26M
Free cash flow
$-12.35M
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Sources
Revenue
—
Net income
$1.29M
Diluted EPS
-0.33
Operating cash flow
$-3.43M
Free cash flow
$-3.97M
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Sources
Is it cheap or expensive?
Fair value — vs current price $0.82
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $15.5M - more cash than debt. Interest coverage -20.5x.
Net debt
$-15.52M
Interest coverage
-20.46x
Elutia Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
ELUT
BASELINE
Elutia Inc.
Total debt $4.38M Interest coverage -20.46x This is the baseline the peer rows are being compared against.
Total debt $57.92M Interest coverage -6.44x Neither company has much profit cushion over interest right now.
Total debt $66.95M Interest coverage 36.18x This peer still has a real interest-payment cushion, while ELUT does not.
Total debt $66.88M Interest coverage -9.61x Neither company has much profit cushion over interest right now.
Total debt $2.65M Interest coverage -31.46x Neither company has much profit cushion over interest right now.
Total debt $505.00K Interest coverage -30.20x Neither company has much profit cushion over interest right now.
What you should know
The case for and against ELUT
0 Rewards
2 Risks
Rewards
Risks
-
Operating margin compressed from -125.7% to -243.1% over 3 years.
-
Insider ownership is only 3.6% (peer median: 8.2%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-0.75x
P/B
2.30x
P/S
2.99x
EV/EBITDA
-0.97x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
57.8%
Operating margin
-243.1%
Net margin
426.9%
ROE
—
ROA
-34.7%
Health
Liquidity and balance-sheet strength
Debt / equity
0.28x
Current ratio
1.77x
Quick ratio
1.01x
Total debt
$4.38M
Total cash
$19.90M
Growth
How the business has been compounding
Revenue TTM
$12.14M
Revenue 5Y CAGR
-19.8%
EPS TTM
-0.63
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-43.99M
Free CF TTM
$-46.69M
FCF margin
-384.7%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
—