Aziyo Biologics (ELUT) AI Stock Analysis

• Market Cap: $37.53M
• Dividend Yield: N/A
• Average Volume (3M): 257.30K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.07
• Revenue Growth: -5.22%
• EPS Growth: 82.06%
• Country: US
• Employees: 51
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.26
• Shares Outstanding: 38,081,936
• 10 Day Avg. Volume: 355,016
• 30 Day Avg. Volume: 257,297
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 3.21
• Enterprise Value/Revenue: 5.09
• Enterprise Value/Gross Profit: 11.39
• Enterprise Value/Ebitda: -8.61
• 1Y Price Target: $5.50
• Price Target Upside: 511.11% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 43 Neutral
• Price Target: $1.50 ▲(66.67% Upside)

Aziyo Biologics' overall stock score is primarily impacted by its weak financial performance and bearish technical indicators. While the earnings call highlighted some positive developments, the company's financial instability and valuation concerns weigh heavily on the score.

Positive Factors

Product Innovation

The strong growth of EluPro indicates successful product innovation and market acceptance, which can drive long-term revenue growth and strengthen market position.

Gross Margin Improvement

Improved gross margins reflect operational efficiencies and high-margin product lines, enhancing profitability and financial health over time.

Litigation Progress

Resolving the majority of litigation reduces legal expenses and strategic risks, allowing management to focus on growth and operational improvements.

Negative Factors

Financial Instability

Financial instability with negative equity and high liabilities limits the company's ability to invest in growth and may lead to funding challenges.

Revenue Decline

Declining revenue suggests challenges in market demand or competitive pressures, which can impact long-term growth prospects and market share.

Cash Flow Issues

Negative cash flows indicate potential liquidity issues, limiting the company's ability to fund operations and invest in future growth opportunities.

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 makes money primarily through the sale of its biologic products to healthcare providers and medical device manufacturers. Its revenue model is based on direct sales and distribution agreements, where the company supplies its proprietary solutions that are used alongside medical devices to improve performance and patient compatibility. Significant partnerships with leading medical device companies enhance its market reach and distribution capabilities, contributing to its revenue growth. The company's earnings are also influenced by its ability to innovate and expand its product offerings in response to evolving medical needs and regulatory approvals.

Aziyo Biologics Financial Statement Overview

Summary

Aziyo Biologics is facing significant financial challenges across all verticals. The income statement reflects declining revenues and substantial losses, while the balance sheet shows negative equity and high leverage. Cash flow remains negative, with slight improvements in free cash flow growth. The company needs to address these financial issues to improve its financial health and stability.

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	23.68M	24.38M	24.75M	23.85M	47.39M	42.68M
Gross Profit	10.58M	10.71M	11.05M	11.64M	19.02M	20.56M
EBITDA	-14.01M	-45.89M	-31.92M	-27.30M	-15.72M	-12.30M
Net Income	-21.32M	-53.95M	-37.66M	-32.90M	-24.83M	-21.82M
Balance Sheet
Total Assets	33.85M	36.13M	43.43M	68.84M	67.17M	82.81M
Cash, Cash Equivalents and Short-Term Investments	8.50M	13.24M	19.28M	16.99M	30.39M	39.15M
Total Debt	28.24M	24.74M	23.95M	39.40M	23.24M	52.31M
Total Liabilities	75.69M	82.39M	82.03M	73.87M	53.65M	61.98M
Stockholders Equity	-41.84M	-46.26M	-38.60M	-5.03M	13.52M	20.83M
Cash Flow
Free Cash Flow	-33.27M	-23.31M	-22.11M	-21.97M	-15.99M	-14.07M
Operating Cash Flow	-32.79M	-22.66M	-21.76M	-21.43M	-15.62M	-13.44M
Investing Cash Flow	-1.03M	-474.00K	14.21M	-540.00K	-369.00K	-640.00K
Financing Cash Flow	24.14M	17.09M	9.84M	9.00M	6.71M	51.02M

Aziyo Biologics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.90
• 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 0.9 is below the 20-day moving average (MA) of 1.19, below the 50-day MA of 1.72, and below the 200-day MA of 2.38, indicating a bearish trend. The MACD of -0.26 indicates Positive momentum. The RSI at 20.97 is Positive, neither overbought nor oversold. The STOCH value of 8.09 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
ZNTL	46 Neutral	$111.09M	-0.73	―	―	-33.76%	17.10%
CCCC	44 Neutral	$153.02M	-1.40	-48.76%	―	16.55%	16.73%
ELUT	43 Neutral	$37.53M	―	149.62%	―	-5.22%	82.06%
KYTX	36 Underperform	$258.18M	-1.66	―	―	―	-39.69%
VOR	33 Underperform	$268.58M	-0.13	―	―	―	-686.12%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Aziyo Biologics Corporate Events

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.

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.