Aziyo Biologics (ELUT) AI Stock Analysis

• Market Cap: $39.00M
• Dividend Yield: N/A
• Average Volume (3M): 364.18K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.06
• Revenue Growth: -14.92%
• EPS Growth: 72.81%
• Country: US
• Employees: 51
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.19
• Shares Outstanding: 38,081,936
• 10 Day Avg. Volume: 362,745
• 30 Day Avg. Volume: 364,181
• PEG Ratio: 0.20
• Price to Book (P/B): -2.35
• Price to Sales (P/S): 4.46
• P/FCF Ratio: -4.66
• Enterprise Value/Market Cap: 3.09
• Enterprise Value/Revenue: 5.72
• Enterprise Value/Gross Profit: 12.44
• Enterprise Value/Ebitda: -7.97
• 1Y Price Target: $3.50
• Price Target Upside: 372.97% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: $0.50 ▼(-32.43% Downside)

Aziyo Biologics faces significant financial and technical challenges, with declining revenues, high operating losses, and bearish stock momentum. While the earnings call provided some positive strategic developments, the overall financial instability and valuation concerns weigh heavily on the stock's attractiveness.

Positive Factors

Strategic Divestiture

The divestiture enhances financial stability and validates the technology platform, allowing focus on core products like NXT-41x, potentially boosting future growth.

Improved Gross Margins

Higher gross margins indicate better cost management and operational efficiency, which can lead to improved profitability and competitive positioning in the long term.

Product Line Control

Regaining control over key product lines enhances strategic flexibility and market responsiveness, potentially driving revenue growth and market share expansion.

Negative Factors

Declining Revenue

Decreasing sales highlight challenges in market demand or competitive pressures, which could impact long-term revenue growth and financial health if not addressed.

Financial Instability

Financial instability, marked by negative equity and cash flow issues, limits the company's ability to invest in growth opportunities and manage economic downturns.

Legacy Litigation Liability

Ongoing litigation poses financial risks and potential cash outflows, which can strain resources and divert focus from strategic initiatives.

Aziyo Biologics Business Overview & Revenue Model

Company Description

Elutia Inc., a commercial-stage company, develops and commercializes drug-eluting biologics products for neurostimulation, wound care, and breast reconstruction in the United States. The company operates in three segments: Device Protection; Women's Health; and Cardiovascular. It offers CanGaroo Envelope, which is used to accommodate cardiac implantable electronic devices, such as pacemakers and internal defibrillators. The company also develops CanGarooRM, a combination of the CanGaroo envelope with antibiotics, to reduce the risk of infection after surgical implantation of an electronic device. In addition, it provides ProxiCor for cardiac tissue repair and pericardial closure; Tyke, an extracellular material that is used in the repair of cardiac structures for neonate and infant patients; and VasCure, a patch material to repair or reconstruct the peripheral vasculature. Further, the company offers SimpliDerm, which uses human acellular dermal matrices for tissue repair and reconstruction in various applications, such as sports medicine, hernia repair, trauma reconstruction, and breast reconstruction surgeries following mastectomy. It serves hospitals and healthcare facilities through its direct sales force, independent sales agents, and distributors. The company was formerly known as Aziyo Biologics, Inc. and changed its name to Elutia Inc. in September 2023. Elutia Inc. was incorporated in 2015 and is headquartered in Silver Spring, Maryland.

How the Company Makes Money

Aziyo Biologics generates revenue through the sale of its biologic products, which include tissue grafts and implants derived from human ECM. The company primarily targets hospitals and surgical centers, where its products are utilized in various surgical procedures. Key revenue streams include direct sales of its product lines, as well as potential licensing agreements with larger medical device companies that seek to incorporate Aziyo's innovative technology into their offerings. Significant partnerships with healthcare providers and participation in clinical studies also enhance its market presence and drive sales growth.

Aziyo Biologics Financial Statement Overview

Summary

Aziyo Biologics faces significant financial challenges with declining revenues, substantial losses, negative equity, and weak cash flow health. The income statement, balance sheet, and cash flow analysis all indicate financial distress.

Income Statement

Aziyo Biologics shows declining revenue with a negative growth rate of -11.8% in TTM, indicating a challenging market environment. The company has negative profit margins, with a net profit margin of -90% and an EBIT margin of -73.85%, reflecting significant operational losses. The gross profit margin of 44.67% is relatively stable, but overall profitability remains a concern.

Balance Sheet

The balance sheet reveals financial instability, with a negative stockholders' equity indicating more liabilities than assets. The debt-to-equity ratio is negative due to negative equity, and the return on equity is positive only because of the negative equity, which is misleading. The equity ratio is also negative, highlighting financial distress.

Cash Flow

Cash flow analysis shows negative operating and free cash flows, though there is a slight improvement in free cash flow growth at 13.71% in TTM. The operating cash flow to net income ratio is negative, indicating cash flow issues. The free cash flow to net income ratio is slightly above 1, suggesting some alignment between cash flow and accounting profits, but overall cash flow health is weak.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	21.08M	24.38M	24.75M	23.85M	47.39M	42.68M
Gross Profit	9.69M	10.71M	11.05M	11.64M	19.02M	20.56M
EBITDA	-15.13M	-45.89M	-31.92M	-27.30M	-15.72M	-12.30M
Net Income	-26.47M	-53.95M	-37.66M	-32.90M	-24.83M	-21.82M
Balance Sheet
Total Assets	29.41M	36.13M	43.43M	68.84M	67.17M	82.81M
Cash, Cash Equivalents and Short-Term Investments	4.72M	13.24M	19.28M	16.99M	30.39M	39.15M
Total Debt	26.32M	24.74M	23.95M	25.45M	23.24M	30.64M
Total Liabilities	73.33M	82.39M	82.03M	73.87M	53.65M	61.98M
Stockholders Equity	-43.92M	-46.26M	-38.60M	-5.03M	13.52M	20.83M
Cash Flow
Free Cash Flow	-32.35M	-23.31M	-22.11M	-21.97M	-15.81M	-14.27M
Operating Cash Flow	-32.25M	-22.66M	-21.76M	-21.43M	-15.45M	-13.63M
Investing Cash Flow	-1.12M	-474.00K	14.21M	-540.00K	-369.00K	-640.00K
Financing Cash Flow	12.35M	17.09M	9.84M	8.54M	6.71M	51.21M

Aziyo Biologics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.74
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ELUT, the sentiment is Negative. The current price of 0.74 is below the 20-day moving average (MA) of 0.88, below the 50-day MA of 0.98, and below the 200-day MA of 1.97, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 22.07 is Positive, neither overbought nor oversold. The STOCH value of 17.76 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ELUT.

Aziyo Biologics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ELUT	45 Neutral	$39.00M	-0.87	―	―	-14.92%	72.81%
IGC	42 Neutral	$35.78M	-4.85	-90.87%	―	24.95%	61.65%
OKUR	42 Neutral	$41.94M	-0.58	-115.64%	―	―	46.20%
PYPD	41 Neutral	$61.05M	-1.00	-390.53%	―	―	61.23%
SONN	40 Underperform	$22.65M	-0.39	―	―	1689.52%	66.05%
RANI	32 Underperform	$228.44M	―	―	―	―	25.08%

Aziyo Biologics Corporate Events

Aziyo Biologics Faces Nasdaq Delisting Risk Notice

On November 7, 2025, Elutia Inc., a Delaware corporation, received a notification from Nasdaq regarding its Class A common stock, which had a closing bid price below $1.00 for 30 consecutive business days, risking non-compliance with Nasdaq’s listing requirements. The company has been given a 180-day compliance period to rectify this issue, with potential for an additional 180-day period if necessary. Elutia intends to monitor the situation closely and explore options to maintain its Nasdaq listing, though there is no assurance of compliance.

The most recent analyst rating on (ELUT) stock is a Buy with a $2.00 price target. To see the full list of analyst forecasts on Aziyo Biologics stock, see the ELUT Stock Forecast page.

Elutia’s Earnings Call: Strategic Moves Amid Challenges

Elutia’s recent earnings call conveyed a mixed sentiment, reflecting both significant achievements and ongoing challenges. The company has made strategic strides, notably with the sale of its bioenvelope business, which has positively impacted its financial standing. However, it continues to face hurdles such as declining overall sales and historical revenue issues with SimpliDerm, alongside ongoing litigation liabilities.

Elutia Inc. Advances NXT-41x Amid Financial Developments

Elutia Inc., a company specializing in drug-eluting biomatrix technologies, operates within the medical device industry, focusing on enhancing the compatibility between medical devices and patients. The company aims to humanize medicine by developing products that allow patients to thrive without compromise.

Aziyo Biologics Welcomes Guido J. Neels to Board

On October 10, 2025, Elutia Inc. announced the election of Guido J. Neels to its Board of Directors, effective October 9, 2025, and his appointment to the Audit Committee. This move follows the resignations of board members Maybelle Jordan and W. Matthew Zuga, effective October 8, 2025. Neels, with over 40 years of experience in the medical technology sector, is expected to provide valuable insights as Elutia focuses on leveraging its drug-eluting biomatrix technology to build shareholder value, particularly after its recent EluPro divestiture.

The most recent analyst rating on (ELUT) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Aziyo Biologics stock, see the ELUT Stock Forecast page.

Elutia Completes Sale of BioEnvelope to Boston Scientific

On October 1, 2025, Elutia Inc. announced the completion of the sale of its BioEnvelope business to Boston Scientific Corporation for $88 million. This strategic divestiture allows Elutia to concentrate on advancing its NXT-41x biomatrix platform, which targets reconstruction infections post-mastectomy. The sale strengthens Elutia’s financial position, enabling the company to fully fund the development and launch of NXT-41x, a product poised to capture a significant share of the $1.5 billion U.S. market for breast reconstruction biologics. The transaction also included a non-competition agreement and transitional support services to ensure a smooth transfer of the CIED Business assets.

The most recent analyst rating on (ELUT) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Aziyo Biologics stock, see the ELUT Stock Forecast page.

Elutia Sells Device Business to Boston Scientific

On September 8, 2025, Elutia Inc. entered into an agreement to sell its cardiac implantable electronic device business to Boston Scientific Corporation for $88 million. This transaction is expected to close in the fourth quarter of 2025 and will allow Elutia to focus on its drug-eluting biomatrix solutions in breast reconstruction, strengthen its financial position, and eliminate outstanding debt. The sale marks a strategic shift for Elutia, enabling it to advance its SimpliDerm franchise and drug-eluting pipeline without shareholder dilution, thereby enhancing long-term shareholder value.

The most recent analyst rating on (ELUT) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Aziyo Biologics stock, see the ELUT Stock Forecast page.

Aziyo Biologics Reports Strong EluPro Growth

The recent earnings call for Aziyo Biologics, Inc. Class A was marked by a positive sentiment, underscored by significant growth and successful product launches, particularly with EluPro. The company reported improved gross margins and progress in litigation settlements, although challenges persist with SimpliDerm’s performance and ongoing litigation issues.

Elutia Inc. Amends Credit Agreement with SWK Funding

On August 15, 2025, Elutia Inc. amended its Credit Agreement initially established on August 10, 2022, with SWK Funding LLC and other lenders. The amendment involves capitalizing accrued interest and amendment fees into the principal balance of a $25 million senior secured term loan, potentially impacting the company’s financial obligations and liquidity management.

The most recent analyst rating on (ELUT) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Aziyo Biologics stock, see the ELUT Stock Forecast page.

Elutia Inc. Reports Strong Growth and Strategic Advances

Elutia Inc., a pioneer in drug-eluting biomatrix technologies, focuses on developing and commercializing products that enhance compatibility between medical devices and patients, primarily in the healthcare sector. The company is known for its innovative solutions aimed at improving patient outcomes.