EluPro Commercial Success
EluPro experienced 49% sequential growth this quarter, driven by 7 national GPO contracts and active ordering from 161 hospital systems. EluPro makes up 68% of BioEnvelope revenue, and sales per account are 130% higher compared to CanGaroo.
Awards and Recognition
Elutia received the Edison Award for Innovation in Medical Technology, two Medical Device Network Excellence Awards, and Dr. Michelle Williams won the Medical Device Innovator of the Year award.
BioEnvelope Revenue Growth
BioEnvelope revenue for the quarter increased by 33% year-over-year, reaching about a $14 million run rate, primarily driven by EluPro growth.
Litigation Progress
Elutia settled 97 out of 110 lawsuits stemming from a past product recall, significantly reducing future legal expenses and removing a strategic overhang.
Gross Margin Improvement
Adjusted gross margin increased to 62.4% for Q2, up from 58.4% a year ago, due to operational efficiencies and high margins in the cardiovascular segment.