What is Elutia's operating income?

Elutia's total operating income in 2025 was -$26.91 million, based on the following breakdown: Total Gross Profit: $6.60 million Total Operating Expenses: $33.51 million

Elutia (ELUT) Financials

$0.90 -0.06 (-5.79%)

As of 10:50 AM Eastern

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Annual Income Statements for Elutia

This table shows Elutia's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-12	-25	-25	-33	-38	-54	53
Consolidated Net Income / (Loss)	-12	-22	-25	-33	-38	-54	53
Net Income / (Loss) Continuing Operations	-12	-22	-25	-36	-41	-45	-16
Total Pre-Tax Income	-12	-22	-25	-36	-41	-45	-16
Total Operating Income	-8.41	-14	-23	-35	-31	-31	-27
Total Gross Profit	20	21	19	12	11	6.72	6.60
Total Revenue	43	43	47	24	25	14	12
Operating Revenue	43	43	47	24	25	14	12
Total Cost of Revenue	23	22	28	12	14	7.75	5.70
Operating Cost of Revenue	23	22	28	12	14	7.75	5.70
Total Operating Expenses	28	34	42	47	42	37	34
Selling, General & Admin Expense	9.62	11	14	16	14	18	15
Marketing Expense	16	18	19	18	13	4.99	5.77
Research & Development Expense	2.40	5.95	9.27	7.73	4.40	3.00	4.16
Other Special Charges / (Income)	-	-	0.28	5.20	9.99	11	8.50
Total Other Income / (Expense), net	-3.50	-8.20	-1.75	-0.96	-11	-15	11
Interest & Investment Income	-	-	-	-	-	-0.93	0.39
Other Income / (Expense), net	1.88	-2.57	3.58	4.16	-4.90	-14	11
Income Tax Expense	0.03	0.03	0.06	0.03	0.03	0.01	0.01
Net Income / (Loss) Discontinued Operations	-	-	-	3.29	3.59	-8.60	69
Basic Earnings per Share	($18.48)	($8.88)	($2.38)	($2.38)	($2.07)	($1.86)	$1.29
Weighted Average Basic Shares Outstanding	645.99K	2.85M	10.44M	13.83M	18.16M	29.07M	41.42M
Diluted Earnings per Share	($18.48)	($8.88)	($2.38)	($2.38)	($2.07)	($1.86)	$0.87
Weighted Average Diluted Shares Outstanding	645.99K	2.85M	10.44M	13.83M	18.16M	29.07M	45.94M
Weighted Average Basic & Diluted Shares Outstanding	645.99K	2.85M	13.56M	16.19M	24.27M	40.74M	42.78M

This table shows Elutia's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-9.75	-9.31	-18	-28	1.07	-8.84	-3.93	-12	-3.87	78	-7.47
Consolidated Net Income / (Loss)	-9.75	-9.31	-18	-28	1.29	-9.06	-3.93	-9.61	-3.87	71	-7.47
Net Income / (Loss) Continuing Operations	-8.52	-15	-18	-28	3.34	-2.33	-1.89	-9.61	-0.38	-1.95	-7.89
Total Pre-Tax Income	-8.51	-15	-18	-28	3.35	-2.33	-1.88	-9.60	-0.38	-1.96	-7.82
Total Operating Income	-7.37	-8.51	-8.48	-8.51	-9.18	-4.55	-6.78	-9.88	-5.21	-3.91	-6.35
Total Gross Profit	2.84	2.12	2.84	2.80	1.79	-0.72	1.38	3.06	1.85	-0.77	1.80
Total Revenue	6.13	5.88	6.69	6.29	3.66	-2.18	2.95	6.26	3.32	-3.32	3.11
Operating Revenue	6.13	5.88	6.69	6.29	3.66	-2.18	2.95	6.26	3.32	-3.32	3.11
Total Cost of Revenue	3.29	3.75	3.85	3.49	1.87	-1.46	1.57	3.21	1.47	-2.55	1.31
Operating Cost of Revenue	3.29	3.75	3.85	3.49	1.87	-1.46	1.57	3.21	1.47	-2.55	1.31
Total Operating Expenses	10	11	11	11	11	3.83	8.16	13	7.06	3.13	8.15
Selling, General & Admin Expense	2.76	3.97	5.06	4.69	4.34	3.99	3.72	3.70	3.52	4.00	4.09
Marketing Expense	2.80	2.57	3.31	3.33	1.24	-2.89	1.00	3.78	1.60	-2.65	1.48
Research & Development Expense	0.56	1.38	1.17	1.00	0.70	0.12	0.87	1.46	1.09	0.71	1.97
Other Special Charges / (Income)	4.10	2.71	1.79	2.29	4.68	2.61	2.57	4.00	0.85	1.07	0.61
Total Other Income / (Expense), net	-1.14	-6.72	-9.51	-20	13	2.22	4.90	0.27	4.83	1.95	-1.48
Interest & Investment Income	-	-	-	-	-	-	-0.18	-	-	-	0.11
Other Income / (Expense), net	0.31	-5.21	-8.19	-19	13	0.44	5.08	0.79	5.10	-0.31	-1.58
Income Tax Expense	0.01	-0.01	0.01	-0.01	0.01	0.00	0.01	0.01	0.01	-0.01	0.07
Net Income / (Loss) Discontinued Operations	-1.23	5.91	-	0.18	-2.05	-	-2.05	0.00	-3.49	-	0.43
Basic Earnings per Share	($0.57)	($0.36)	($0.75)	($1.13)	$0.03	($0.01)	($0.10)	($0.23)	($0.09)	$1.71	($0.17)
Weighted Average Basic Shares Outstanding	17.02M	18.16M	23.91M	24.90M	32.52M	29.07M	38.62M	41.78M	42.43M	41.42M	43.00M
Diluted Earnings per Share	($0.57)	($0.36)	($0.75)	($1.13)	($0.33)	$0.35	($0.21)	($0.26)	($0.19)	$1.53	($0.17)
Weighted Average Diluted Shares Outstanding	17.02M	18.16M	23.91M	24.90M	35.52M	29.07M	42.91M	46.31M	46.96M	45.94M	43.00M
Weighted Average Basic & Diluted Shares Outstanding	24.35M	24.27M	-	34.06M	34.56M	40.74M	41.12M	42.40M	42.70M	42.78M	44.21M

This table details how cash moves in and out of Elutia's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	0.18	37	-9.10	-13	2.29	-6.04	23
Net Cash From Operating Activities	-7.23	-14	-15	-21	-22	-23	-45
Net Cash From Continuing Operating Activities	-7.23	-14	-15	-21	-22	-23	-45
Net Income / (Loss) Continuing Operations	-12	-22	-25	-33	-38	-54	53
Consolidated Net Income / (Loss)	-12	-22	-25	-33	-38	-54	53
Depreciation Expense	3.86	3.86	3.73	3.73	3.75	3.45	2.79
Non-Cash Adjustments To Reconcile Net Income	2.40	6.69	3.33	19	4.97	30	-93
Changes in Operating Assets and Liabilities, net	-1.69	-2.48	2.20	-11	6.96	-2.00	-8.48
Net Cash From Investing Activities	-0.58	-0.64	-0.37	-0.54	14	-0.47	79
Net Cash From Continuing Investing Activities	-0.58	-0.64	-0.37	-0.54	14	-0.47	79
Purchase of Property, Plant & Equipment	-0.58	-0.64	-0.37	-0.54	-0.35	-0.65	-1.88
Divestitures	-	-	-	0.00	15	0.18	80
Net Cash From Financing Activities	7.98	51	6.71	8.54	9.84	17	-11
Net Cash From Continuing Financing Activities	7.98	51	6.71	8.54	9.84	17	-11
Repayment of Debt	-0.16	1.99	-4.53	-5.86	-0.47	-2.00	-1.10
Issuance of Debt	6.84	5.00	0.00	6.39	-1.96	-2.00	-23
Issuance of Common Equity	0.00	43	14	10	10	13	14
Other Financing Activities, net	-0.99	-2.24	-2.72	-2.39	1.96	8.54	-0.38
Cash Interest Paid	4.40	5.11	4.98	5.48	2.32	5.29	7.49

This table details how cash moves in and out of Elutia's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	5.22	4.76	-6.73	5.64	7.55	-13	4.12	-8.86	-3.78	32	-7.86
Net Cash From Operating Activities	-5.12	-9.08	-2.64	-4.33	-3.43	-12	-8.88	-8.23	-2.89	-25	-7.83
Net Cash From Continuing Operating Activities	-5.12	-9.08	-2.64	-4.33	-3.43	-12	-8.88	-8.23	-2.89	-25	-7.83
Net Income / (Loss) Continuing Operations	-9.75	-9.31	-18	-28	1.29	-9.06	-3.93	-9.61	-3.87	71	-7.47
Consolidated Net Income / (Loss)	-9.75	-9.31	-18	-28	1.29	-9.06	-3.93	-9.61	-3.87	71	-7.47
Depreciation Expense	0.95	0.89	0.86	0.86	0.86	0.86	0.87	0.89	0.73	0.30	0.33
Amortization Expense	0.05	0.06	0.05	0.05	0.05	-	0.05	0.05	0.05	-	0.00
Non-Cash Adjustments To Reconcile Net Income	0.16	-0.99	11	27	-15	7.12	-3.38	0.86	-1.87	-88	2.63
Changes in Operating Assets and Liabilities, net	3.46	0.27	3.26	-3.91	9.67	-11	-2.49	-0.42	2.07	-7.53	-3.32
Net Cash From Investing Activities	-0.06	15	-0.02	0.18	-0.55	-0.09	-0.28	-0.11	-0.63	80	-0.03
Net Cash From Continuing Investing Activities	-0.06	15	-0.02	0.18	-0.55	-0.09	-0.28	-0.11	-0.63	80	-0.03
Purchase of Property, Plant & Equipment	-0.06	-0.02	-0.02	0.00	-0.55	-0.09	-0.28	-0.11	-0.63	-0.85	-0.46
Divestitures	-	15	0.00	0.18	-	-	0.00	-	-	80	0.43
Net Cash From Financing Activities	10	-0.70	-4.07	9.79	12	-0.15	13	-0.52	-0.26	-23	0.00
Net Cash From Continuing Financing Activities	10	-0.70	-4.07	9.79	12	-0.15	13	-0.52	-0.26	-23	0.00
Repayment of Debt	-	-0.47	-2.67	-0.48	-0.57	1.73	-0.45	-0.42	-0.24	-	0.00
Issuance of Common Equity	10	-0.25	0.07	12	0.09	-	14	-	0.03	-0.00	0.05
Other Financing Activities, net	-	1.98	-1.47	-2.13	12	0.12	-0.15	-0.10	-0.06	-0.07	-0.04
Cash Interest Paid	0.60	0.63	2.54	0.95	0.93	0.87	0.53	0.02	0.01	6.93	0.00

This table presents Elutia's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	45	83	67	69	43	36	62
Total Current Assets	18	60	47	51	31	26	56
Cash & Equivalents	2.48	39	30	17	19	13	36
Accounts Receivable	7.23	7.17	6.00	3.77	3.26	2.28	1.73
Inventories, net	7.19	10	9.55	4.24	3.85	1.93	2.62
Prepaid Expenses	1.44	2.89	1.45	2.39	2.17	1.99	2.27
Other Current Assets	-	-	0.00	14	2.70	4.76	13
Plant, Property, & Equipment, net	0.99	1.16	1.20	0.25	0.17	0.67	2.51
Total Noncurrent Assets	25	22	19	18	12	9.28	4.02
Intangible Assets	25	22	18	15	12	2.60	1.53
Other Noncurrent Operating Assets	0.08	0.08	0.08	0.32	0.33	0.18	2.49
Total Liabilities & Shareholders' Equity	45	83	67	69	43	36	62
Total Liabilities	55	62	54	74	82	82	35
Total Current Liabilities	18	27	26	43	43	38	25
Accounts Payable	2.49	2.05	1.58	1.37	3.19	4.15	4.79
Accrued Expenses	3.98	6.32	6.38	8.83	9.49	7.10	4.35
Other Current Liabilities	5.24	5.05	5.22	27	27	25	16
Total Noncurrent Liabilities	37	35	28	31	39	45	9.54
Other Noncurrent Operating Liabilities	17	17	17	6.04	19	22	9.54
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-55	21	14	-5.03	-39	-46	28
Total Preferred & Common Equity	-55	21	14	-5.03	-39	-46	28
Total Common Equity	-55	21	14	-5.03	-39	-46	28
Common Stock	1.83	101	119	133	137	183	204
Retained Earnings	-57	-80	-105	-138	-176	-230	-176

This table presents Elutia's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	35	42	48	39	34	29	55
Total Current Assets	24	30	37	30	22	18	49
Cash & Equivalents	13	18	26	17	8.50	4.72	28
Accounts Receivable	4.41	3.52	2.93	2.86	3.15	3.55	2.07
Inventories, net	3.05	3.12	3.63	4.29	5.24	2.01	2.66
Prepaid Expenses	1.95	1.11	0.43	1.62	1.09	0.54	2.03
Other Current Assets	2.03	4.42	4.58	3.89	4.30	4.56	13
Plant, Property, & Equipment, net	0.17	0.16	0.69	1.03	2.07	2.05	2.91
Total Noncurrent Assets	11	11	10	8.25	9.50	8.98	3.71
Intangible Assets	11	9.97	9.12	7.42	6.58	1.80	1.26
Other Noncurrent Operating Assets	0.38	1.42	1.27	0.83	2.92	2.57	2.45
Total Liabilities & Shareholders' Equity	35	42	48	39	34	29	55
Total Liabilities	86	106	89	76	76	73	33
Total Current Liabilities	38	40	40	37	38	41	24
Accounts Payable	4.16	3.14	5.07	4.52	6.07	6.60	3.87
Accrued Expenses	9.02	7.34	5.43	6.09	6.30	7.27	5.82
Other Current Liabilities	23	26	29	24	22	22	14
Total Noncurrent Liabilities	48	66	49	39	38	32	8.96
Other Noncurrent Operating Liabilities	28	48	26	17	16	11	8.96
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-50	-64	-40	-36	-42	-44	23
Total Preferred & Common Equity	-50	-64	-40	-36	-42	-44	23
Total Common Equity	-50	-64	-40	-36	-42	-44	23
Common Stock	143	157	180	197	201	203	206
Retained Earnings	-194	-222	-221	-234	-243	-247	-184

This table displays calculated financial ratios and metrics derived from Elutia's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	10,226,122.00	10,256,671.00	13,774,370.00	23,197,552.00	34,562,098.00	42,701,185.00
DEI Adjusted Shares Outstanding	0.00	10,226,122.00	10,256,671.00	13,774,370.00	23,197,552.00	34,562,098.00	42,701,185.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-2.48	-2.42	-2.39	-1.62	-1.56	1.25
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	-0.51%	11.03%	-49.68%	3.76%	-41.54%	-15.03%
EBITDA Growth	0.00%	-381.46%	-28.08%	-74.22%	-15.74%	-30.17%	67.13%
EBIT Growth	0.00%	-147.64%	-20.33%	-59.51%	-14.16%	-25.35%	63.42%
NOPAT Growth	0.00%	-61.72%	-69.37%	-52.78%	13.25%	-0.61%	12.38%
Net Income Growth	0.00%	-82.80%	-13.78%	-32.48%	-14.47%	-43.27%	198.95%
EPS Growth	0.00%	51.95%	73.20%	0.00%	13.03%	10.14%	146.77%
Operating Cash Flow Growth	0.00%	-88.60%	-13.36%	-38.77%	-1.53%	-4.12%	-97.78%
Free Cash Flow Firm Growth	0.00%	0.00%	-14.60%	-37.22%	162.04%	-237.30%	-335.93%
Invested Capital Growth	0.00%	-2.81%	-47.00%	-161.36%	-781.19%	-26.93%	80.01%
Revenue Q/Q Growth	0.00%	0.00%	-3.28%	-41.61%	94.28%	-35.77%	-47.34%
EBITDA Q/Q Growth	0.00%	0.00%	-1.50%	2.96%	-7.99%	18.61%	23.14%
EBIT Q/Q Growth	0.00%	0.00%	-1.14%	2.52%	-6.90%	17.80%	22.93%
NOPAT Q/Q Growth	0.00%	0.00%	-19.75%	-10.54%	7.88%	11.42%	17.18%
Net Income Q/Q Growth	0.00%	0.00%	-17.55%	9.92%	-11.47%	0.47%	301.65%
EPS Q/Q Growth	0.00%	0.00%	-111.67%	16.78%	0.00%	27.63%	380.65%
Operating Cash Flow Q/Q Growth	0.00%	-25.81%	-7.06%	5.06%	-21.41%	-16.29%	-38.93%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	3.75%	-49.27%	43.55%	-47.03%
Invested Capital Q/Q Growth	0.00%	0.00%	-13.28%	0.00%	16.26%	-0.16%	70.73%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	46.08%	48.17%	40.14%	48.80%	44.67%	46.42%	53.66%
EBITDA Margin	-5.90%	-28.54%	-32.92%	-113.98%	-127.14%	-283.08%	-109.49%
Operating Margin	-19.60%	-31.86%	-48.60%	-147.55%	-123.36%	-212.29%	-218.91%
EBIT Margin	-15.22%	-37.88%	-41.05%	-130.11%	-143.16%	-306.93%	-132.15%
Profit (Net Income) Margin	-27.83%	-51.13%	-52.40%	-137.94%	-152.18%	-372.91%	434.23%
Tax Burden Percent	100.25%	100.12%	100.22%	91.01%	91.35%	118.99%	-336.61%
Interest Burden Percent	182.43%	134.84%	127.37%	116.49%	116.36%	102.10%	97.62%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-47.94%	-78.63%	-176.60%	-2,015.74%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-74.32%	-253.87%	-68.36%	-1,742.25%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	159.92%	-350.62%	32.02%	1,240.60%	0.00%	0.00%	0.00%
Return on Equity (ROE)	111.98%	-429.25%	-144.57%	-775.14%	172.60%	127.15%	-574.35%
Cash Return on Invested Capital (CROIC)	0.00%	-75.78%	-115.16%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-14.58%	-25.34%	-25.94%	-45.63%	-63.11%	-111.63%	-32.99%
Return on Assets (ROA)	-26.67%	-34.21%	-33.11%	-48.37%	-67.08%	-135.63%	108.41%
Return on Common Equity (ROCE)	578.80%	1,447.00%	-144.57%	-775.14%	172.60%	127.15%	-574.35%
Return on Equity Simple (ROE_SIMPLE)	21.66%	-104.77%	-183.66%	653.63%	97.55%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-5.89	-9.52	-16	-25	-21	-21	-19
NOPAT Margin	-13.72%	-22.30%	-34.02%	-103.28%	-86.35%	-148.60%	-153.24%
Net Nonoperating Expense Percent (NNEP)	26.38%	175.24%	-108.24%	-273.48%	586.63%	894.94%	431.16%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	143.19%	95.95%	-68.07%
Cost of Revenue to Revenue	53.92%	51.83%	59.86%	51.20%	55.33%	53.58%	46.34%
SG&A Expenses to Revenue	22.41%	24.93%	28.88%	67.30%	57.00%	124.93%	122.67%
R&D to Revenue	5.59%	13.95%	19.55%	32.40%	17.78%	20.72%	33.86%
Operating Expenses to Revenue	65.68%	80.03%	88.74%	196.35%	168.03%	258.71%	272.57%
Earnings before Interest and Taxes (EBIT)	-6.53	-16	-19	-31	-35	-44	-16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-2.53	-12	-16	-27	-31	-41	-13
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	6.69	4.78	0.00	0.00	0.00	1.07
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	1.13
Price to Revenue (P/Rev)	1.17	3.27	1.36	2.43	2.02	8.94	2.41
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.55
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	180.47%
Enterprise Value to Invested Capital (EV/IC)	9.56	10.93	9.08	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	2.74	3.06	1.21	2.73	2.20	9.67	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	6.09	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	-2.39	1.47	1.72	-4.82	-0.61	-0.52	0.00
Long-Term Debt to Equity	-1.84	0.86	0.77	-4.82	-0.53	-0.49	0.00
Financial Leverage	-2.15	1.38	-0.47	-0.71	-0.13	-0.09	1.80
Leverage Ratio	-4.20	12.55	4.37	16.02	-2.57	-0.94	-5.30
Compound Leverage Factor	-7.66	16.92	5.56	18.67	-2.99	-0.96	-5.17
Debt to Total Capital	171.71%	59.52%	63.21%	126.18%	-158.66%	-106.45%	0.00%
Short-Term Debt to Total Capital	39.81%	24.92%	34.89%	0.00%	-22.25%	-5.58%	0.00%
Long-Term Debt to Total Capital	131.90%	34.61%	28.32%	126.18%	-136.41%	-100.87%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	298.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-370.64%	40.48%	36.79%	-26.18%	258.66%	206.45%	100.00%
Debt to EBITDA	-10.09	-2.52	-1.49	-0.89	-0.75	-0.58	0.00
Net Debt to EBITDA	-9.07	0.73	0.46	-0.27	-0.14	-0.26	0.00
Long-Term Debt to EBITDA	-7.75	-1.46	-0.67	-0.89	-0.65	-0.55	0.00
Debt to NOPAT	-4.34	-3.22	-1.44	-0.98	-1.11	-1.11	0.00
Net Debt to NOPAT	-3.90	0.93	0.45	-0.30	-0.21	-0.49	0.00
Long-Term Debt to NOPAT	-3.33	-1.87	-0.65	-0.98	-0.95	-1.05	0.00
Altman Z-Score	-0.76	0.34	-1.34	-3.34	-7.74	-12.00	-3.52
Noncontrolling Interest Sharing Ratio	-416.89%	437.10%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	1.01	2.23	1.82	1.19	0.73	0.69	2.22
Quick Ratio	0.53	1.73	1.40	0.49	0.52	0.41	1.51
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-9.17	-11	-14	8.95	-12	-54
Operating Cash Flow to CapEx	-1,252.17%	-2,129.06%	-4,185.91%	-3,969.26%	-6,289.31%	-3,464.37%	-2,388.59%
Free Cash Flow to Firm to Interest Expense	0.00	-1.63	-1.97	-2.82	1.54	0.00	0.00
Operating Cash Flow to Interest Expense	-1.34	-2.42	-2.90	-4.19	-3.75	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-1.45	-2.53	-2.97	-4.29	-3.81	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.96	0.67	0.63	0.35	0.44	0.36	0.25
Accounts Receivable Turnover	5.93	5.93	7.20	4.88	7.03	5.22	6.13
Inventory Turnover	3.22	2.56	2.88	1.77	3.38	2.68	2.51
Fixed Asset Turnover	43.42	39.70	40.13	33.01	118.68	34.32	7.73
Accounts Payable Turnover	9.28	9.73	15.60	8.26	6.00	2.11	1.27
Days Sales Outstanding (DSO)	61.50	61.55	50.69	74.76	51.90	69.87	59.53
Days Inventory Outstanding (DIO)	113.45	142.78	126.55	206.18	107.87	136.17	145.69
Days Payable Outstanding (DPO)	39.32	37.50	23.39	44.18	60.85	172.80	286.39
Cash Conversion Cycle (CCC)	135.63	166.83	153.85	236.76	98.92	33.24	-81.16
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	12	12	6.33	-3.88	-34	-43	-8.68
Invested Capital Turnover	3.49	3.53	5.19	19.52	-1.30	-0.37	-0.47
Increase / (Decrease) in Invested Capital	0.00	-0.35	-5.61	-10	-30	-9.21	35
Enterprise Value (EV)	117	130	57	65	55	140	-6.77
Market Capitalization	50	139	65	58	50	129	30
Book Value per Share	($85.31)	$2.04	$1.32	($0.37)	($1.66)	($1.34)	$0.65
Tangible Book Value per Share	($124.42)	($0.10)	($0.48)	($1.48)	($2.17)	($1.41)	$0.61
Total Capital	15	51	37	19	-15	-22	28
Total Debt	26	31	23	24	24	24	0.00
Total Long-Term Debt	20	18	10	24	20	23	0.00
Net Debt	23	-8.90	-7.20	7.27	4.40	11	-36
Capital Expenditures (CapEx)	0.58	0.64	0.37	0.54	0.35	0.65	1.88
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3.50	6.22	3.82	-8.91	-28	-24	-5.67
Debt-free Net Working Capital (DFNWC)	6.09	46	34	8.08	-8.46	-10	31
Net Working Capital (NWC)	0.17	33	21	8.08	-12	-12	31
Net Nonoperating Expense (NNE)	6.05	12	8.71	8.26	16	32	-72
Net Nonoperating Obligations (NNO)	23	-8.90	-7.20	1.15	4.40	2.85	-36
Total Depreciation and Amortization (D&A)	4.00	3.99	3.85	3.85	3.96	3.45	2.79
Debt-free, Cash-free Net Working Capital to Revenue	8.16%	14.57%	8.06%	-37.34%	-112.10%	-163.21%	-46.13%
Debt-free Net Working Capital to Revenue	14.20%	107.19%	72.27%	33.90%	-34.20%	-71.70%	249.56%
Net Working Capital to Revenue	0.40%	77.15%	45.21%	33.90%	-47.62%	-80.34%	249.56%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($8.88)	($2.38)	($2.38)	($2.07)	($1.86)	$1.29
Adjusted Weighted Average Basic Shares Outstanding	0.00	10.23M	10.44M	13.83M	18.16M	29.07M	41.42M
Adjusted Diluted Earnings per Share	$0.00	($8.88)	($2.38)	($2.38)	($2.07)	($1.86)	$0.87
Adjusted Weighted Average Diluted Shares Outstanding	0.00	10.23M	10.44M	13.83M	18.16M	29.07M	45.94M
Adjusted Basic & Diluted Earnings per Share	$0.00	($8.88)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	2.85M	13.56M	16.19M	24.27M	40.74M	42.78M
Normalized Net Operating Profit after Tax (NOPAT)	-5.89	-9.52	-16	-21	-14	-14	-13
Normalized NOPAT Margin	-13.72%	-22.30%	-33.61%	-88.02%	-58.10%	-93.60%	-104.84%
Pre Tax Income Margin	-27.76%	-51.07%	-52.28%	-151.57%	-166.58%	-313.39%	-129.00%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.21	-2.87	-3.65	-6.06	-6.11	0.00	0.00
NOPAT to Interest Expense	-1.09	-1.69	-3.03	-4.81	-3.69	0.00	0.00
EBIT Less CapEx to Interest Expense	-1.32	-2.98	-3.72	-6.17	-6.17	0.00	0.00
NOPAT Less CapEx to Interest Expense	-1.20	-1.80	-3.10	-4.92	-3.75	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Elutia's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	16,249,847.00	23,197,552.00	24,273,427.00	24,349,914.00	34,060,341.00	34,562,098.00	40,736,888.00	41,115,664.00	42,395,341.00	42,701,185.00	42,784,848.00
DEI Adjusted Shares Outstanding	16,249,847.00	23,197,552.00	24,273,427.00	24,349,914.00	34,060,341.00	34,562,098.00	40,736,888.00	41,115,664.00	42,395,341.00	42,701,185.00	42,784,848.00
DEI Earnings Per Adjusted Shares Outstanding	-0.60	-0.40	-0.74	-1.16	0.03	-0.26	-0.10	-0.29	-0.09	1.83	-0.17
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.75%	195.79%	4.72%	-0.94%	-40.23%	-137.11%	-55.92%	-0.45%	-9.26%	-52.43%	5.52%
EBITDA Growth	31.25%	-26.06%	-114.68%	-394.02%	172.60%	74.61%	95.09%	68.92%	-84.71%	-20.73%	-882.17%
EBIT Growth	27.75%	-23.39%	-99.94%	-329.61%	149.27%	70.08%	89.83%	66.48%	-103.16%	-2.58%	-367.96%
NOPAT Growth	17.80%	23.48%	-1.68%	-34.89%	-77.40%	46.54%	20.07%	-16.04%	60.17%	14.12%	6.33%
Net Income Growth	1.64%	-71.21%	-125.66%	-165.32%	113.19%	2.72%	78.14%	65.90%	-400.78%	881.27%	-89.91%
EPS Growth	21.92%	0.00%	-53.06%	-73.85%	42.11%	197.22%	72.00%	76.99%	42.42%	337.14%	19.05%
Operating Cash Flow Growth	7.11%	-73.17%	48.88%	-81.33%	33.11%	-34.94%	-236.27%	-89.94%	15.76%	-102.45%	11.82%
Free Cash Flow Firm Growth	3,407.85%	905.33%	-690.89%	719.64%	-118.65%	-75.26%	567.21%	-187.74%	-160.57%	-721.68%	-213.00%
Invested Capital Growth	0.00%	-781.19%	0.00%	-826.64%	-6.12%	-26.93%	0.00%	58.10%	31.59%	80.01%	79.83%
Revenue Q/Q Growth	-3.53%	-4.11%	13.94%	-6.02%	-41.79%	-159.53%	235.37%	3.86%	-46.94%	-200.00%	193.71%
EBITDA Q/Q Growth	-14.17%	-110.99%	-23.38%	-66.22%	116.78%	-173.78%	76.13%	-324.08%	108.26%	-682.44%	-94.23%
EBIT Q/Q Growth	-11.89%	-94.33%	-21.54%	-62.56%	112.83%	-218.03%	58.71%	-219.86%	98.79%	-3,728.18%	-88.36%
NOPAT Q/Q Growth	-16.83%	-15.41%	0.33%	-0.37%	-53.65%	65.22%	-49.01%	-24.65%	47.26%	25.00%	-62.52%
Net Income Q/Q Growth	8.23%	4.44%	-93.19%	-56.61%	104.56%	-804.59%	56.59%	-144.34%	59.75%	1,930.17%	-110.55%
EPS Q/Q Growth	12.31%	36.84%	-108.33%	-50.67%	70.80%	206.06%	-160.00%	-23.81%	26.92%	905.26%	-111.11%
Operating Cash Flow Q/Q Growth	-114.44%	-77.30%	70.92%	-64.03%	20.89%	-257.66%	27.54%	7.35%	64.91%	-759.51%	68.44%
Free Cash Flow Firm Q/Q Growth	512.43%	-31.71%	-121.80%	999.20%	-113.93%	190.58%	311.69%	-274.49%	58.62%	-116.12%	25.17%
Invested Capital Q/Q Growth	-528.57%	16.26%	100.00%	0.00%	28.01%	-0.16%	31.92%	14.65%	-17.54%	70.73%	31.31%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	46.37%	36.15%	42.47%	44.49%	48.91%	0.00%	46.83%	48.83%	55.76%	0.00%	57.87%
EBITDA Margin	-98.78%	-217.34%	-235.36%	-416.28%	119.99%	0.00%	-26.23%	-129.94%	20.22%	0.00%	-244.12%
Operating Margin	-120.30%	-144.80%	-126.67%	-135.27%	-250.55%	0.00%	-229.65%	-157.67%	-156.73%	0.00%	-203.85%
EBIT Margin	-115.21%	-233.50%	-249.07%	-430.84%	94.98%	0.00%	-57.44%	-145.04%	-3.31%	0.00%	-254.72%
Profit (Net Income) Margin	-159.08%	-158.54%	-268.81%	-447.94%	35.12%	0.00%	-133.28%	-153.44%	-116.40%	0.00%	-239.85%
Tax Burden Percent	114.58%	61.17%	100.04%	99.33%	38.42%	389.22%	209.31%	100.08%	1,031.47%	-3,619.17%	95.46%
Interest Burden Percent	120.51%	111.00%	107.88%	104.67%	96.23%	56.71%	110.86%	105.70%	340.91%	46.45%	98.64%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	67.16%	172.60%	0.00%	150.89%	119.73%	127.15%	109.41%	40.15%	62.91%	-574.35%	-715.58%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-41.50%	-102.93%	0.00%	-228.48%	51.07%	0.00%	-15.67%	-90.69%	-1.99%	0.00%	-67.14%
Return on Assets (ROA)	-57.30%	-69.89%	0.00%	-237.55%	18.88%	0.00%	-36.37%	-95.94%	-69.84%	0.00%	-63.22%
Return on Common Equity (ROCE)	67.16%	172.60%	0.00%	150.89%	119.73%	127.15%	109.41%	40.15%	62.91%	-574.35%	-715.58%
Return on Equity Simple (ROE_SIMPLE)	67.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-5.16	-5.95	-5.94	-5.96	-9.15	-3.18	-4.74	-6.91	-3.65	-2.73	-4.44
NOPAT Margin	-84.21%	-101.36%	-88.67%	-94.69%	-249.95%	0.00%	-160.76%	-110.37%	-109.71%	0.00%	-142.70%
Net Nonoperating Expense Percent (NNEP)	96.97%	120.98%	0.00%	224.87%	-328.22%	162.09%	-23.49%	26.00%	3.98%	438.97%	-28.03%
Return On Investment Capital (ROIC_SIMPLE)	-	39.90%	-	14.18%	52.01%	14.21%	38.90%	41.34%	20.46%	-9.88%	-19.73%
Cost of Revenue to Revenue	53.63%	63.85%	57.53%	55.51%	51.09%	0.00%	53.17%	51.17%	44.24%	0.00%	42.13%
SG&A Expenses to Revenue	45.00%	67.51%	75.53%	74.54%	118.51%	0.00%	126.09%	59.00%	105.90%	0.00%	131.37%
R&D to Revenue	9.09%	23.52%	17.51%	15.91%	19.17%	0.00%	29.52%	23.25%	32.74%	0.00%	63.36%
Operating Expenses to Revenue	166.67%	180.95%	169.14%	179.76%	299.45%	0.00%	276.48%	206.50%	212.49%	0.00%	261.72%
Earnings before Interest and Taxes (EBIT)	-7.06	-14	-17	-27	3.48	-4.11	-1.70	-9.08	-0.11	-4.21	-7.93
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-6.05	-13	-16	-26	4.39	-3.24	-0.77	-8.14	0.67	-3.91	-7.60
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.07	1.99
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.13	2.11
Price to Revenue (P/Rev)	1.82	2.02	3.05	4.83	5.76	8.94	9.61	3.44	1.62	2.41	3.61
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.55	0.90
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	180.47%	110.95%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	2.57	2.20	0.00	5.00	5.62	9.67	10.25	4.14	2.53	0.00	1.32
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	1.85	6.09	0.00	4.07	0.00	0.00	11.89	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-0.44	-0.61	0.00	-0.35	-0.56	-0.52	-0.67	-0.60	-0.59	0.00	0.00
Long-Term Debt to Equity	-0.39	-0.53	0.00	-0.29	-0.56	-0.49	-0.60	-0.51	-0.48	0.00	0.00
Financial Leverage	-0.19	-0.13	0.00	-0.23	-0.07	-0.09	-0.19	-0.20	-0.13	1.80	1.55
Leverage Ratio	-0.70	-2.57	0.00	-1.09	-0.93	-0.94	-1.08	-0.71	-0.92	-5.30	-6.78
Compound Leverage Factor	-0.85	-2.86	0.00	-1.14	-0.89	-0.53	-1.19	-0.75	-3.15	-2.46	-6.69
Debt to Total Capital	-77.82%	-158.66%	0.00%	-53.13%	-128.66%	-106.45%	-198.93%	-150.21%	-146.52%	0.00%	0.00%
Short-Term Debt to Total Capital	-8.04%	-22.25%	0.00%	-8.21%	0.00%	-5.58%	-20.50%	-22.42%	-28.07%	0.00%	0.00%
Long-Term Debt to Total Capital	-69.78%	-136.41%	0.00%	-44.92%	-128.66%	-100.87%	-178.44%	-127.79%	-118.46%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	177.82%	258.66%	0.00%	153.13%	228.66%	206.45%	298.93%	250.21%	246.52%	100.00%	100.00%
Debt to EBITDA	-0.76	-0.75	0.00	-0.37	-0.45	-0.58	-0.93	-1.82	-1.49	0.00	0.00
Net Debt to EBITDA	-0.32	-0.14	0.00	-0.07	0.06	-0.26	-0.27	-1.21	-1.22	0.00	0.00
Long-Term Debt to EBITDA	-0.68	-0.65	0.00	-0.31	-0.45	-0.55	-0.84	-1.55	-1.21	0.00	0.00
Debt to NOPAT	-0.95	-1.11	0.00	-0.97	-0.93	-1.11	-1.19	-0.98	-1.15	0.00	0.00
Net Debt to NOPAT	-0.41	-0.21	0.00	-0.18	0.13	-0.49	-0.34	-0.65	-0.94	0.00	0.00
Long-Term Debt to NOPAT	-0.85	-0.95	0.00	-0.82	-0.93	-1.05	-1.07	-0.84	-0.93	0.00	0.00
Altman Z-Score	-8.28	-6.09	0.00	-8.54	-4.86	-8.32	-7.58	-10.15	-11.61	-2.88	-3.54
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.63	0.73	0.00	0.76	0.94	0.69	0.81	0.59	0.44	2.22	2.05
Quick Ratio	0.45	0.52	0.00	0.55	0.72	0.41	0.55	0.31	0.20	1.51	1.29
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	36	24	-5.31	48	-6.65	6.03	25	-42	-17	-37	-28
Operating Cash Flow to CapEx	-8,262.90%	-53,429.41%	-17,606.67%	0.00%	-626.51%	-13,039.36%	-3,194.60%	-7,217.54%	-458.25%	-2,905.62%	-1,706.10%
Free Cash Flow to Firm to Interest Expense	24.64	16.15	-4.04	37.69	-50.79	0.00	0.00	-80.88	-65.42	0.00	0.00
Operating Cash Flow to Interest Expense	-3.54	-6.02	-2.01	-3.42	-26.16	0.00	0.00	-15.88	-10.89	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-3.58	-6.03	-2.02	-3.42	-30.34	0.00	0.00	-16.10	-13.27	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.36	0.44	0.00	0.53	0.54	0.36	0.27	0.63	0.60	0.25	0.26
Accounts Receivable Turnover	2.89	7.03	0.00	5.08	6.14	5.22	3.75	7.10	7.20	6.13	5.06
Inventory Turnover	1.40	3.38	0.00	2.32	3.88	2.68	1.28	3.14	4.50	2.51	1.57
Fixed Asset Turnover	74.49	118.68	0.00	30.73	52.13	34.32	10.40	21.24	17.00	7.73	6.32
Accounts Payable Turnover	1.03	6.00	0.00	4.52	2.81	2.11	1.21	2.84	2.18	1.27	1.30
Days Sales Outstanding (DSO)	126.26	51.90	0.00	71.83	59.45	69.87	97.34	51.38	50.69	59.53	72.20
Days Inventory Outstanding (DIO)	259.85	107.87	0.00	157.23	94.10	136.17	285.99	116.41	81.09	145.69	232.92
Days Payable Outstanding (DPO)	353.85	60.85	0.00	80.81	129.91	172.80	301.34	128.33	167.69	286.39	281.33
Cash Conversion Cycle (CCC)	32.27	98.92	0.00	148.26	23.64	33.24	82.00	39.46	-35.90	-81.16	23.79
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-41	-34	0.00	-60	-43	-43	-30	-25	-30	-8.68	-5.96
Invested Capital Turnover	-0.62	-1.30	0.00	-0.75	-0.54	-0.37	-0.73	-0.55	-0.64	-0.47	-0.70
Increase / (Decrease) in Invested Capital	-41	-30	-0.63	-54	-2.50	-9.21	-30	35	14	35	24
Enterprise Value (EV)	33	55	0.00	125	127	140	110	98	59	-6.77	16
Market Capitalization	23	50	76	121	130	129	103	81	38	30	45
Book Value per Share	($3.10)	($1.66)	$0.00	($2.64)	($1.18)	($1.34)	($0.90)	($1.02)	($1.04)	$0.65	$0.53
Tangible Book Value per Share	($3.76)	($2.17)	$0.00	($3.05)	($1.45)	($1.41)	($1.08)	($1.18)	($1.08)	$0.61	$0.50
Total Capital	-28	-15	0.00	-42	-18	-22	-12	-17	-18	28	23
Total Debt	22	24	0.00	22	23	24	24	25	26	0.00	0.00
Total Long-Term Debt	20	20	0.00	19	23	23	22	21	21	0.00	0.00
Net Debt	9.46	4.40	0.00	4.13	-3.10	11	6.90	17	21	-36	-28
Capital Expenditures (CapEx)	0.06	0.02	0.02	-0.00	0.55	0.09	0.28	0.11	0.63	0.85	0.46
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-24	-28	0.00	-24	-28	-24	-22	-20	-23	-5.67	-3.62
Debt-free Net Working Capital (DFNWC)	-12	-8.46	0.00	-6.01	-2.36	-10	-4.33	-12	-18	31	25
Net Working Capital (NWC)	-14	-12	0.00	-9.46	-2.36	-12	-6.83	-16	-23	31	25
Net Nonoperating Expense (NNE)	4.59	3.36	12	22	-10	5.88	-0.81	2.70	0.22	-74	3.03
Net Nonoperating Obligations (NNO)	9.46	4.40	0.00	4.13	-3.10	2.85	6.90	17	14	-36	-28
Total Depreciation and Amortization (D&A)	1.01	0.95	0.92	0.92	0.92	0.86	0.92	0.95	0.78	0.30	0.33
Debt-free, Cash-free Net Working Capital to Revenue	-191.24%	-112.10%	0.00%	-96.83%	-124.77%	-163.21%	-202.28%	-86.21%	-97.14%	-46.13%	-29.08%
Debt-free Net Working Capital to Revenue	-92.70%	-34.20%	0.00%	-24.04%	-10.48%	-71.70%	-40.41%	-50.32%	-76.92%	249.56%	199.63%
Net Working Capital to Revenue	-110.55%	-47.62%	0.00%	-37.85%	-10.48%	-80.34%	-63.73%	-66.16%	-98.34%	249.56%	199.63%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.57)	($0.36)	$0.00	($1.13)	$0.03	($0.01)	($0.10)	($0.23)	($0.09)	$1.71	($0.17)
Adjusted Weighted Average Basic Shares Outstanding	17.02M	18.16M	0.00	24.90M	32.52M	29.07M	38.62M	41.78M	42.43M	41.42M	43.00M
Adjusted Diluted Earnings per Share	($0.57)	($0.36)	$0.00	($1.13)	($0.33)	$0.35	($0.21)	($0.26)	($0.19)	$1.53	($0.17)
Adjusted Weighted Average Diluted Shares Outstanding	17.02M	18.16M	0.00	24.90M	35.52M	29.07M	42.91M	46.31M	46.96M	45.94M	43.00M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	23.20M	24.27M	0.00	34.06M	34.56M	40.74M	41.12M	42.40M	42.70M	42.78M	44.21M
Normalized Net Operating Profit after Tax (NOPAT)	-2.29	-4.06	-4.69	-4.35	-4.48	-1.36	-2.94	-4.11	-3.05	-1.99	-4.02
Normalized NOPAT Margin	-37.42%	-69.06%	-70.00%	-69.22%	-122.37%	0.00%	-99.75%	-65.62%	-91.74%	0.00%	-129.08%
Pre Tax Income Margin	-138.84%	-259.18%	-268.69%	-450.98%	91.40%	0.00%	-63.67%	-153.31%	-11.29%	0.00%	-251.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-4.88	-9.09	-12.70	-21.39	26.55	0.00	0.00	-17.54	-0.42	0.00	0.00
NOPAT to Interest Expense	-3.56	-3.95	-4.52	-4.70	-69.87	0.00	0.00	-13.34	-13.76	0.00	0.00
EBIT Less CapEx to Interest Expense	-4.92	-9.10	-12.71	-21.39	22.37	0.00	0.00	-17.76	-2.79	0.00	0.00
NOPAT Less CapEx to Interest Expense	-3.61	-3.96	-4.53	-4.70	-74.05	0.00	0.00	-13.56	-16.13	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Elutia Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Elutia's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Elutia's net income appears to be on a downward trend, with a most recent value of $53.38 million in 2025, falling from -$11.94 million in 2019. The previous period was -$53.95 million in 2024. See where experts think Elutia is headed by visiting Elutia's forecast page.

Elutia's total operating income in 2025 was -$26.91 million, based on the following breakdown:

Total Gross Profit: $6.60 million
Total Operating Expenses: $33.51 million

Over the last 6 years, Elutia's total revenue changed from $42.90 million in 2019 to $12.29 million in 2025, a change of -71.3%.

Elutia's total liabilities were at $34.68 million at the end of 2025, a 57.9% decrease from 2024, and a 37.4% decrease since 2019.

In the past 6 years, Elutia's cash and equivalents has ranged from $2.48 million in 2019 to $39.15 million in 2020, and is currently $36.35 million as of their latest financial filing in 2025.

Over the last 6 years, Elutia's book value per share changed from -85.31 in 2019 to 0.65 in 2025, a change of -100.8%.

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Financial statements for NASDAQ:ELUT last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Elutia (ELUT) Financials

Financials Breakdown Chart

Elutia Financials - Frequently Asked Questions

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Elutia (ELUT) Financials

Annual Income Statements for Elutia

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Quarterly Cash Flow Statements for Elutia

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Financials Breakdown Chart

Elutia Financials - Frequently Asked Questions

When does Elutia's financial year end?

How has Elutia's net income changed over the last 6 years?

What is Elutia's operating income?

How has Elutia's revenue changed over the last 6 years?

How much debt does Elutia have?

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How has Elutia's book value per share changed over the last 6 years?

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