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Elutia
(NASDAQ:ELUT)
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Rating:49Neutral
Price Target:
$0.93
▲(0.54% Upside)
Action:Reiterated
Date:07/21/26
ELUT scores below average primarily due to weak financial performance (shrinking revenue, large operating losses, and persistent heavy cash burn), reinforced by soft technical momentum. The score is partially supported by constructive forward-looking earnings call commentary around regulatory milestones and manufacturing-driven margin potential, and a superficially low P/E, though valuation confidence is limited given weak earnings quality and lack of a dividend.
Positive Factors
Manufacturing scalability & margin target
An automated, robot‑enabled manufacturing platform materially improves unit economics and reproducibility versus manual production. Achieving >80% gross margin at scale would create durable margin leverage, enable profitable volume growth, and reduce per‑unit cost risk as commercialization expands.
Negative Factors
Persistent negative operating & free cash flow
Sustained large negative OCF and FCF imply ongoing cash burn and an inability to self‑fund operations or launches. Over months this forces reliance on asset sales, financings, or partnerships, increasing execution risk and potential dilution while constraining investment in commercialization.
Read all positive and negative factors
Positive Factors
Negative Factors
Manufacturing scalability & margin target
An automated, robot‑enabled manufacturing platform materially improves unit economics and reproducibility versus manual production. Achieving >80% gross margin at scale would create durable margin leverage, enable profitable volume growth, and reduce per‑unit cost risk as commercialization expands.
Read all positive factors
Elutia (ELUT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$37.88M
Dividend YieldN/A
Average Volume (3M)364.18K
Price to Earnings (P/E)0.7
Beta (1Y)0.12
Revenue Growth-32.64%
EPS Growth56.66%
CountryUS
Employees26
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$5.00Price Target Upside443.48% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.6
Revenue Forecast (FY)$12.00M
Elutia Business Overview & Revenue Model
Company Description
Elutia Inc., a commercial-stage company, focuses on developing drug-eluting biomatrix products for use in surgical reconstruction and related applications. The company operates in two segments, Women’s Health and Cardiovascular. Its lead developme...
How the Company Makes Money
Elutia makes money primarily by selling its drug-eluting biomaterial products to healthcare providers (e.g., hospitals and surgical centers) and/or through distributors, generating revenue when these products are purchased for use in surgical proc...
Elutia Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 13, 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 | -25.04M | -13.46M | -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 | 4.22M | 11.17M | 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
Negative
0.92
Price Trends
0.98
Negative
1.03
Negative
0.94
Negative
Market Momentum
-0.03
Positive
39.33
Neutral
29.82
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 0.92 is below the 20-day moving average (MA) of 0.93, below the 50-day MA of 0.98, and below the 200-day MA of 0.94, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 39.33 is Neutral, neither overbought nor oversold. The STOCH value of 29.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | $81.87M | -2.25 | -241.96% | ― | ― | 55.59% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $37.88M | 0.68 | -560.64% | ― | -32.64% | 56.66% | |
49 Neutral | $154.31M | -0.88 | -61.02% | ― | ― | 25.85% | |
48 Neutral | $105.56M | -1.89 | -245.45% | ― | 164.08% | 58.49% | |
44 Neutral | $24.92M | -3.44 | -94.51% | ― | ― | ― |
* Healthcare Sector Average
ELUT
Elutia
0.87
-1.10
-55.74%
IGC
IGC Pharma
0.25
-0.10
-27.91%
PYPD
PolyPid
4.45
1.19
36.50%
OKUR
OnKure Therapeutics
4.10
2.06
100.98%
RANI
Rani Therapeutics Holdings
0.82
0.27
49.09%
Elutia Corporate Events
Business Operations and StrategyM&A Transactions
Elutia Divests SimpliDerm Assets to Refocus Strategy
Positive
Jul 20, 2026
On July 16, 2026, Elutia Inc. signed an asset purchase agreement to sell substantially all assets of its SimpliDerm human acellular dermal matrix business for breast reconstruction to Cellution Biologics Inc. for up to $11 million, including $8 mi...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Elutia Shareholders Approve Amended Incentive Plan and Governance
Positive
Jun 16, 2026
Elutia’s board approved a first amendment to its 2020 Incentive Award Plan on April 22, 2026, which was subsequently approved by stockholders at the June 11, 2026 annual meeting. The amendment increases the shares available for equity awards...
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.