Elutia (ELUT) AI Stock Analysis

• Market Cap: $23.88M
• Dividend Yield: N/A
• Average Volume (3M): 364.18K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.15
• 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: 40,349,937
• 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: 5.05
• Enterprise Value/Revenue: 5.72
• Enterprise Value/Gross Profit: 12.44
• Enterprise Value/Ebitda: -7.97
• 1Y Price Target: $3.50
• Price Target Upside: 548.15% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: $0.52 ▼(-4.07% Downside)

Elutia's overall stock score reflects significant financial instability and bearish technical indicators. While strategic moves like the BioEnvelope sale offer some optimism, ongoing financial challenges and compliance risks weigh heavily on the stock's outlook.

Positive Factors

Strategic Divestiture

The sale of the bioenvelope business enhances Elutia's financial stability and allows the company to focus on its core biomatrix platform, potentially capturing a significant market share in breast reconstruction biologics.

Revenue Growth in Key Segments

Growth in SimpliDerm and cardiovascular segments indicates strong market demand and effective sales strategies, supporting long-term revenue expansion and market positioning.

Improved Gross Margins

Improved gross margins reflect better cost management and operational efficiency, enhancing profitability and financial health over the long term.

Negative Factors

Declining Overall Sales

The decline in overall sales indicates challenges in maintaining revenue momentum, which could impact long-term growth prospects and market competitiveness.

Nasdaq Delisting Risk

The risk of Nasdaq delisting poses a significant compliance challenge, potentially affecting investor confidence and access to capital markets if not addressed.

Legacy Litigation Liability

Ongoing litigation liabilities create financial uncertainty and could divert resources from strategic initiatives, impacting long-term operational focus and financial stability.

Elutia 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

Elutia generates revenue primarily through the sale of its proprietary biomaterials and regenerative medical products. The company has established a multi-faceted revenue model that includes direct sales to healthcare providers, partnerships with medical device manufacturers, and collaborations with research institutions. Key revenue streams consist of product sales, licensing agreements for its technologies, and service contracts for specialized applications. Significant partnerships with hospitals and clinics enhance market access and drive sales growth, while ongoing research and development efforts ensure a steady pipeline of innovative products that meet emerging healthcare needs.

Elutia Financial Statement Overview

Summary

Aziyo Biologics is facing significant financial challenges, including declining revenues, high operating losses, and negative equity. Despite a stable gross profit margin, the overall financial health is weak, requiring strategic interventions to improve profitability and reduce leverage.

Income Statement

Aziyo Biologics has faced declining revenue growth, with a negative growth rate of -10.97% in the TTM. The company is experiencing significant losses, as indicated by negative net profit, EBIT, and EBITDA margins. The gross profit margin is relatively stable at 48.35%, but overall profitability is severely impacted by high operating losses.

Balance Sheet

The balance sheet reveals a negative stockholders' equity, leading to a negative debt-to-equity ratio. This indicates financial instability and high leverage. The return on equity is positive due to negative equity, but this is misleading as it reflects significant losses rather than profitability. The equity ratio is also negative, highlighting potential solvency issues.

Cash Flow

Cash flow analysis shows negative operating and free cash flows, with a slight improvement in free cash flow growth. The operating cash flow to net income ratio is negative, indicating cash flow challenges. The free cash flow to net income ratio is slightly above 1, suggesting that cash flow is somewhat aligned with reported losses.

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	-29.85M	-23.31M	-22.11M	-21.97M	-15.81M	-14.27M
Operating Cash Flow	-29.37M	-22.66M	-21.76M	-21.43M	-15.45M	-13.63M
Investing Cash Flow	-486.00K	-474.00K	14.21M	-540.00K	-369.00K	-640.00K
Financing Cash Flow	12.61M	17.09M	9.84M	8.54M	6.71M	51.21M

Elutia Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.54
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

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 0.54 is below the 20-day moving average (MA) of 0.63, below the 50-day MA of 0.75, and below the 200-day MA of 1.66, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 38.05 is Neutral, neither overbought nor oversold. The STOCH value of 23.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ELUT.

Elutia 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%
IGC	47 Neutral	$28.16M	-3.89	-83.34%	―	-6.51%	58.31%
OKUR	42 Neutral	$38.61M	-0.46	-115.64%	―	―	46.20%
ELUT	41 Neutral	$23.88M	-0.61	―	―	-14.92%	72.81%
PYPD	41 Neutral	$63.91M	-1.35	-390.53%	―	―	61.23%
SONN	40 Underperform	$22.65M	-0.39	―	―	1689.52%	66.05%
RANI	32 Underperform	$179.85M	-1.87	―	―	―	25.08%

Elutia 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.

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.

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.