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Friday 6 November 2026
Export ELUT’s income statement to Excel — free account
Elutia Inc.
ELUT Healthcare Medical Devices
Elutia Inc.’s revenue for fiscal 2025 (year ended December 2025) was $12.3 million, down 15.0% from fiscal 2024.
- Revenue
- −11.7%
- EPS
- +26.1%
- Free cash flow
- −2.52%
Quarter to June 2026, against a year earlier
0.80
0.05
+6.67%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | 39 | 43 | 43 | 47 | 24 | 25 | 14 | 12 | 12 | (15.2%) | 8 | 4 | — | (40.9%) | |
| Gross margin, % | — | — | 40.84 | 46.08 | 48.17 | 40.14 | 48.80 | 44.67 | 46.42 | 53.66 | 57.76 | +12.8 pt | ||||||
| EBT | — | — | (12) | (12) | (22) | (25) | (36) | (41) | (45) | (16) | (22) | +4.6% | ||||||
| EBT margin, % | — | — | (29.56) | (27.76) | (51.07) | (52.28) | (151.57) | (166.58) | (313.39) | (129.00) | (184.23) | (99.4) pt | ||||||
| Net income | — | 0 | (12) | (12) | (22) | (25) | (33) | (38) | (54) | 53 | 52 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | 62.01 | 66.41 | 14.96 | 4.54 | 1.72 | 1.36 | 0.50 | 0.30 | 0.27 | (53.4%) | |||||
| Earnings | — | — | (18.37) | (18.48) | (8.88) | (2.38) | (2.38) | (2.07) | (1.86) | 1.29 | 1.23 | n/m | ||||||
| Cash flow | — | — | (8.65) | (11.18) | (4.78) | (1.48) | (1.55) | (1.20) | (0.78) | (1.08) | (0.99) | (25.7%) | ||||||
| Capex | — | — | (0.30) | (0.89) | (0.22) | (0.04) | (0.04) | (0.02) | (0.02) | (0.05) | (0.05) | (23.7%) | ||||||
| Free cash flow | — | — | (8.95) | (12.08) | (5.00) | (1.51) | (1.59) | (1.22) | (0.80) | (1.13) | (1.04) | (25.6%) | ||||||
| Book value | — | — | (68.95) | (85.31) | 7.30 | 1.29 | (0.36) | (2.13) | (1.59) | 0.67 | 0.36 | n/m | ||||||
| Shares, m | — | — | 1 | 1 | 3 | 10 | 14 | 18 | 29 | 41 | 43 | +81.9% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.56 | 0.63 | 0.1 | |||||
| P/S | — | — | 0.00 | 0.00 | 3.00 | 1.39 | 2.34 | 1.83 | 4.92 | 2.32 | 2.84 | 2.0 | ||||||
| P/B | — | — | 0.00 | 0.00 | 6.15 | 4.87 | 0.00 | 0.00 | 0.00 | 1.03 | 2.19 | 1.5 | ||||||
| EV/Sales | — | — | 0.00 | 0.00 | 2.64 | 1.14 | 3.18 | 2.01 | 5.40 | 1.49 | 3.35 | 2.0 | ||||||
| EV/FCF | — | — | (7.00) | (7.00) | (7.89) | (3.40) | (3.45) | (2.25) | (5.12) | (0.39) | (0.88) | (4.6) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | (5) | (7) | (14) | (15) | (21) | (22) | (23) | (45) | (44) | +35.1% | |||||
| Capex | — | — | 0 | (1) | (1) | 0 | (1) | 0 | (1) | (2) | (2) | +38.7% | ||||||
| Free cash flow | — | — | (6) | (8) | (14) | (16) | (22) | (22) | (23) | (47) | (46) | +35.3% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | 5 | 0 | 33 | 21 | 8 | (12) | (12) | 31 | 16 | +30.4% | |||||
| Net debt | — | — | 15 | 19 | (15) | (12) | 20 | 4 | 11 | (36) | (20) | n/m | ||||||
| Shareholders’ equity | — | — | (43) | (55) | 21 | 14 | (5) | (39) | (46) | 28 | 16 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | (48.45) | (25.81) | (39.72) | (33.11) | (48.37) | (67.08) | (135.63) | 108.41 | 152.89 | +156.9 pt | |||||
| ROIC | — | — | 0.00 | 0.00 | (156.82) | (921.57) | (146.02) | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | — | — | 23.48 | 24.24 | 147.81 | (144.57) | (775.14) | 172.60 | 127.15 | (574.35) | (454.01) | (597.8) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | 151 | 163 | 176 | 164 | 54 | 51 | 26 | — | (25.4%) | |||||
| Revenue/emp, $m | — | — | 0.00 | 0.28 | 0.26 | 0.27 | 0.15 | 0.46 | 0.28 | 0.47 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Elutia Inc. vs peers in Medical Devices (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| XTNT Xtant Medical Holdings, Inc. | $42.1M | — (loss-making) | — (loss-making) | −34.96% (below 0%: shrinking) | n/m | −881.96% (below 0%: shrinking) | 57.88% | (39.81%) | Compare |
| CVRX CVRx, Inc. | $39.2M | — (loss-making) | — (loss-making) | −5.84% (below 0%: shrinking) | n/m | −9.91% (below 0%: shrinking) | 86.74% | (94.31%) | Compare |
| TELA TELA Bio, Inc. | $35.2M | — (loss-making) | — (loss-making) | −4.49% (below 0%: shrinking) | n/m | −17.72% (below 0%: shrinking) | 72.77% | (48.12%) | Compare |
| ELUT Elutia Inc. | $33.3M | 0.6× | — (loss-making) | −11.65% (below 0%: shrinking) | n/m | −2.52% (below 0%: shrinking) | 59.62% | (327.85%) | |
| RPID Rapid Micro Biosystems, Inc. | $31.1M | — (loss-making) | — (loss-making) | +10.91% (above 0%: growing) | n/m | −23.97% (below 0%: shrinking) | 15.05% | (152.99%) | Compare |
| QTI QT Imaging Holdings, Inc. | $30.3M | — (loss-making) | — (loss-making) | +103.20% (above 0%: growing) | n/m | −236.31% (below 0%: shrinking) | 41.16% | (25.07%) | Compare |
| NSYS Nortech Systems Incorporated | $30.0M | 28.4× | 17.5× | +9.34% (above 0%: growing) | −8.33% (below 0%: shrinking) | −1,567.16% (below 0%: shrinking) | 17.00% | 1.86% | Compare |
| NSPR InspireMD, Inc. | $29.7M | — (loss-making) | — (loss-making) | −0.39% (below 0%: shrinking) | n/m | −26.00% (below 0%: shrinking) | (43.70%) | (815.64%) | Compare |
| NNOX Nano-X Imaging Ltd. | $19.6M | — (loss-making) | — (loss-making) | +36.71% (above 0%: growing) | n/m | −21.37% (below 0%: shrinking) | (1,050.87%) | (1,334.91%) | Compare |
| Median of peers | $30.7M | — | — | +4.48% | — | −24.99% | 29.08% | (71.22%) |
Pay and ownership Proxy statement filed 22 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 1.34m | (1.21m) | 69.30 |
| 2024 | 4.54m | 5.09m | 173.15 |
Ownership
Directors and executive officers, together
17.80%
Kevin Rakin
11.90%
HighCape Partners and affiliates
10.50%
Nantahala Capital Management, LLC and affiliates
9.30%
AIGH Capital Management, LLC and affiliates
6.90%
Knollwood Investment Advisory, LLC
5.80%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement