Elutia (ELUT)
NASDAQ:ELUT
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Elutia
(NASDAQ:ELUT)
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Rating:46Neutral
Price Target:
$1.00
▲(56.25% Upside)
Action:Reiterated
Date:05/16/26
ELUT scores low primarily due to weak financial performance (declining TTM revenue, deep operating losses, and heavy negative free cash flow), reinforced by soft technical signals and an unhelpful negative P/E. The main positive support comes from the earnings call’s clearer regulatory roadmap and manufacturing/gross-margin potential, but these are forward-looking and carry execution risk.
Positive Factors
Regulatory clarity
Clear, near-term regulatory milestones materially reduce development uncertainty and improve planning for commercialization. A defined Q4 2026 / H1 2027 timeline supports resource allocation, partner discussions, and staged market entry that can accelerate durable revenue scaling if approvals are achieved.
Negative Factors
Negative cash generation
Sustained, large negative operating and free cash flows indicate ongoing cash burn and reliance on external financing or asset sales. Without swift revenue scale or completed divestitures, the cash profile constrains investment in commercialization and increases execution risk over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulatory clarity
Clear, near-term regulatory milestones materially reduce development uncertainty and improve planning for commercialization. A defined Q4 2026 / H1 2027 timeline supports resource allocation, partner discussions, and staged market entry that can accelerate durable revenue scaling if approvals are achieved.
Read all positive factors
Elutia (ELUT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$51.28M
Dividend YieldN/A
Average Volume (3M)364.18K
Price to Earnings (P/E)1.0
Beta (1Y)0.04
Revenue Growth-32.64%
EPS Growth56.66%
CountryUS
Employees51
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)1.25
Shares Outstanding44,208,237
10 Day Avg. Volume362,745
30 Day Avg. Volume364,181
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.04
Price to Sales (P/S)2.33
P/FCF Ratio-0.61
Enterprise Value/Market Cap0.56
Enterprise Value/Revenue1.81
Enterprise Value/Gross Profit3.35
Enterprise Value/Ebitda-1.59
Forecast
1Y Price Target
$5.00Price Target Upside681.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.54
Revenue Forecast (FY)$12.00M
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...
How the Company Makes Money
Elutia makes money primarily by selling its drug-eluting biomaterial products to healthcare providers and/or through medical-device channel partners that distribute these products for use in surgical and implant procedures. Revenue is generally ge...
Elutia Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call emphasized meaningful strategic and operational progress: positive regulatory interactions, the automated manufacturing platform coming online with an >80% gross margin target, improved reported gross margins, clear commercial validation and a large $1.5B market opportunity. However, current revenues remain small ($3.1M), one legacy product (SimpliDerm) saw a ~19% decline, operating expenses exceed revenue, and GAAP net loss widened significantly (≈+92%), with continued reliance on strategic transactions and future FDA approvals to de-risk the story. On balance, the forward-looking operational and regulatory advances and the sizable market opportunity outweigh near-term financial shortfalls, but execution and timing risks remain.Positive Updates
Regulatory Progress and Clear Timeline
Productive and collaborative FDA interactions increased management confidence in submissions; company anticipates NXT-41 clearance in Q4 2026 and NXT-41x clearance in H1 2027, improving visibility on key milestones.
Negative Updates
Revenue Base Still Small and Concentrated
Total net sales for the quarter were $3.1 million (≈+6% year-over-year), reflecting a small absolute revenue base that will need material growth to justify future valuation and investment.
Read all updates
Q1-2026 Updates
Positive
Negative
Regulatory Progress and Clear Timeline
Productive and collaborative FDA interactions increased management confidence in submissions; company anticipates NXT-41 clearance in Q4 2026 and NXT-41x clearance in H1 2027, improving visibility on key milestones.
Read all positive updates
Company Guidance
Management guided that NXT‑41 clearance is anticipated in Q4 2026 with the drug‑eluting NXT‑41x cleared in H1 2027 and a focused soft launch/commercialization in H2 2027; manufacturing is now live with an automated platform targeting >80% gross margin at scale; the addressed U.S. breast reconstruction market is cited at $1.5 billion (~168,000 procedures/year) with biologic mesh used in >85% of cases, biologics ≈65% of procedural spend and incumbent pricing of ~$7,500–$9,500 per breast; clinical need metrics highlighted include postoperative infection rates of 15–20% (surgeons report much higher rates at some high‑volume centers, even ~30%), ~1/3 of women suffering serious complications, implant loss up to 21%, and average hospital cost per infection >$48,000; current Q1 2026 financials/position include net sales $3.1M (+6% YoY), SimpliDerm revenue $2.1M (57% gross margin), Cardiovascular $1.0M (85% gross margin), GAAP gross margin 58% (adjusted 67%), operating expenses $8.2M, net loss $7.5M, adjusted EBITDA loss $4.4M, cash $28.5M plus $8M escrow (~$36.5M total) and ~47.4M common equivalents outstanding, and the company is actively pursuing a SimpliDerm divestiture and inbound interest in the Cardiovascular business.Elutia Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
52
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.97M | 12.29M | 24.38M | 24.75M | 23.85M | 47.39M |
| Gross Profit | 8.63M | 6.60M | 10.71M | 11.05M | 11.64M | 19.02M |
| EBITDA | -18.18M | -15.63M | -45.89M | -31.92M | -27.30M | -15.72M |
| Net Income | 49.84M | 53.38M | -53.95M | -37.66M | -32.90M | -24.83M |
Balance Sheet | ||||||
| Total Assets | 55.21M | 62.35M | 36.13M | 43.43M | 68.84M | 67.17M |
| Cash, Cash Equivalents and Short-Term Investments | 28.49M | 36.35M | 13.24M | 19.28M | 16.99M | 30.39M |
| Total Debt | 6.09M | 7.58M | 24.74M | 23.95M | 25.45M | 23.24M |
| Total Liabilities | 32.68M | 34.68M | 82.39M | 82.03M | 73.87M | 53.65M |
| Stockholders Equity | 22.53M | 27.67M | -46.26M | -38.60M | -5.03M | 13.52M |
Cash Flow | ||||||
| Free Cash Flow | -45.82M | -46.69M | -23.31M | -22.11M | -21.97M | -15.81M |
| Operating Cash Flow | -43.76M | -44.81M | -22.66M | -21.76M | -21.43M | -15.45M |
| Investing Cash Flow | 78.80M | 78.56M | -474.00K | 14.21M | -540.00K | -369.00K |
| Financing Cash Flow | -23.91M | -10.64M | 17.09M | 9.84M | 8.54M | 6.71M |
Elutia Technical Analysis
Positive
0.64
Price Trends
1.09
Positive
1.05
Positive
1.05
Positive
Market Momentum
0.02
Negative
59.11
Neutral
48.98
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ELUT, the sentiment is Positive. The current price of 0.64 is below the 20-day moving average (MA) of 1.08, below the 50-day MA of 1.09, and below the 200-day MA of 1.05, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 59.11 is Neutral, neither overbought nor oversold. The STOCH value of 48.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ELUT.
Elutia Risk Analysis
Elutia disclosed 62 risk factors in its most recent earnings report. Elutia reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Elutia Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | $90.07M | -3.08 | -241.96% | ― | ― | 55.59% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $169.66M | -0.98 | -61.02% | ― | ― | 25.85% | |
47 Neutral | $117.79M | -5.81 | -245.45% | ― | 164.08% | 58.49% | |
46 Neutral | $51.28M | 1.00 | -560.64% | ― | -32.64% | 56.66% | |
42 Neutral | $28.92M | -4.19 | -76.54% | ― | ― | ― |
* Healthcare Sector Average
ELUT
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Elutia Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Elutia Adopts 2026 Inducement Equity Award Plan
Positive
Mar 9, 2026
On March 3, 2026, Elutia Inc.’s Board of Directors adopted the Elutia Inc. 2026 Inducement Award Plan, authorizing up to 2,000,000 shares of Class A common stock for equity awards to new hires. The plan is intended to attract, retain, and mo...
Delistings and Listing ChangesRegulatory Filings and Compliance
Elutia Regains Full Nasdaq Compliance, Strengthening Listing Status
Positive
Mar 4, 2026
Elutia has resolved prior Nasdaq compliance issues that arose in late 2025, when its Class A common stock traded below the $1.00 minimum bid price for 30 consecutive business days and its market value of listed securities fell under the $35 millio...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.