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
$0.84
52-week range
$0.50 - $1.39
Market cap
$37.02M
Balance sheet
Healthy
-20.46x Concerning
Net cash $21.00M. 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 -596.2% over 3 years.
- Risk Insider ownership is only 3.6% (peer median: 8.1%).
What this company does
Elutia Inc.
Elutia Inc. makes special bandages and patches made from natural materials that help the body heal after surgery, especially for heart and women's health procedures. They sell these medical products directly to hospitals, and their main revenue comes from these sales. This matters because it shows how they earn their money and what kinds of medical treatments their products support.
How the company got here
Elutia Inc. was founded in 2015, originally as Aziyo Biologics, Inc.. The company's journey has been marked by a strategic pivot, culminating in a rebranding to Elutia in September 2023. This change signaled a renewed focus on its core technology: drug-eluting biomatrix products. These are specialized materials designed to improve how implanted medical devices interact with the body, aiming to reduce complications and enhance healing. The company's leadership, including co-founders with extensive experience in regenerative medicine and biotechnology, has guided this evolution. Elutia's history is one of innovation and strategic repositioning to concentrate on its most promising technologies.
What it actually does
Elutia develops and sells advanced medical products made from "biomatrices." Think of these as natural, biological scaffolds that help the body heal and integrate with medical implants. What makes Elutia's products special is that they can also deliver drugs, like antibiotics, directly to the site where a medical device is implanted. This "drug-eluting" capability is designed to prevent problems like infections and inflammation after surgery, ultimately helping patients recover better and faster. The company's goal is to "humanize medicine" by making implants work more harmoniously with the body.
Device Protection
This part of Elutia's business focuses on creating products that protect implanted electronic devices, such as pacemakers and defibrillators. Their main product here is EluPro™, which is the first FDA-cleared antibiotic-eluting bioenvelope. It's a special material that wraps around these devices, releasing antibiotics to prevent infections at the surgical site. This is crucial because infections around implanted devices can lead to serious complications and require additional surgeries. Elutia also offers an earlier version called CanGaroo, which provides a protective envelope without the added antibiotics.
Women's Health
In the Women's Health segment, Elutia offers solutions primarily for breast reconstruction procedures, often following a mastectomy. Their key product is SimpliDerm®, a "human acellular dermal matrix." In simpler terms, it's a biological material derived from human tissue that helps support soft tissue reconstruction and promotes natural healing. This is important because these procedures can have high rates of complications like infection, and SimpliDerm is designed to improve outcomes and aid recovery by providing a supportive scaffold for the body's own healing processes.
Cardiovascular
Elutia's Cardiovascular segment offers products for repairing and reconstructing heart and blood vessels. Products like ProxiCor are used as patches to repair defects in the heart, such as holes between the chambers (septal defects), or to help close incisions after heart surgery. They also have products like VasCure for repairing blood vessels in the limbs and Tyke, a specialized, thinner matrix designed for infants and newborns undergoing heart procedures. These products act as biological scaffolds to aid in the healing and regeneration of cardiac and vascular tissues.
What management is betting on now
Elutia's current strategy is heavily focused on developing and launching its next-generation drug-eluting products, particularly NXT-41x, which is aimed at the plastic and reconstructive surgery market, including breast reconstruction. Management believes this product has the potential to significantly improve patient outcomes and capture a substantial share of a large market. The company is also streamlining its business by divesting non-core assets, such as its SimpliDerm business and potentially its Cardiovascular product line, to concentrate resources on these key growth areas. This strategic focus is intended to fund the development and commercialization of their most promising innovations.
Price history
How the share price has moved
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Loading price history…
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
Fetching…
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 $0.84
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $21.0M - more cash than debt. Interest coverage -20.5x.
Net debt
$-21.00M
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 $8.10M 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 $64.52M 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 $2.66M Interest coverage -31.46x Neither company has much profit cushion over interest right now.
Total debt $408.00K 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 -596.2% over 3 years.
-
Insider ownership is only 3.6% (peer median: 8.1%).
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
-0.76x
P/B
2.42x
P/S
2.72x
EV/EBITDA
-0.70x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
57.7%
Operating margin
-596.2%
Net margin
400.2%
ROE
—
ROA
-36.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.53x
Current ratio
2.63x
Quick ratio
1.91x
Total debt
$8.10M
Total cash
$29.09M
Growth
How the business has been compounding
Revenue TTM
$13.59M
Revenue 5Y CAGR
-19.8%
EPS TTM
-0.67
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
-343.5%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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