Lowered Revenue ProjectionsConsidering the weak 1H25 sales, the 2025 total revenues have been conservatively lowered to $2.5M from prior $10.4M.
Onboarding DelaysGetting the remainder of the hospitals through the entire process is taking longer than planned, now estimated at 6-9 months (up from 3-6 months).
Revenue ShortfallHumacyte reported 2Q revenue of $0.3 million, below our estimate of $1.0 million and the broader consensus estimate of $0.8 million.