Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data ELUTIA INC. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
42.9
42.7
47.4
23.8
24.7
14.5
12.3
Cost of revenue
23.1
22.1
28.4
12.2
13.7
7.75
5.7
Gross profit
19.8
20.6
19
11.6
11.1
6.72
6.6
Research and development
2.4
5.95
9.27
7.73
4.4
3
4.16
Selling and marketing
16.2
17.6
18.8
17.9
13.1
4.99
5.77
General and administrative
9.62
10.6
13.7
16.1
14.1
18.1
15.1
Operating expenses
28.2
34.2
42.1
46.8
41.6
37.4
33.5
Operating income
-8.41
-13.6
-23
-35.2
-30.5
-30.7
-26.9
Interest expense
5.38
5.63
5.32
5.12
5.8
4.78
Other non-operating income
1.88
-2.57
3.58
4.16
-0.76
1.19
-2.76
Pre-tax income
-11.9
-21.8
-24.8
-36.1
-41.2
-45.3
-15.9
Income tax
0.03
0.03
0.06
0.03
0.03
0.01
0.01
Net income
-11.9
-21.8
-24.8
-32.9
-37.7
-53.9
53.4
EBITDA
-4.55
-9.74
-19.3
-31.5
-26.8
-27.3
-24.1
EPS, basic
-18.48
-8.88
-2.38
-2.38
-2.07
-1.86
1.29
EPS, diluted
-18.48
-8.88
-2.38
-2.38
-2.07
-1.86
0.87
Shares, basic (weighted)
0.65
2.85
10.4
13.8
18.2
29.1
41.4
Shares, diluted (weighted)
0.65
2.85
10.4
13.8
18.2
29.1
45.9
Balance sheet
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
2.48
39.2
30.4
17
19.3
13.2
36.4
Receivables
7.23
7.17
6
3.77
3.26
2.28
1.73
Inventory
7.19
10.1
9.55
4.24
3.85
1.93
2.62
Other current assets
1.44
2.89
1.45
2.39
2.17
1.99
2.27
Total current assets
18.4
59.7
47.4
50.7
31.3
26.2
55.8
Property, plant and equipment
0.99
1.16
1.2
0.25
0.17
0.67
2.51
Lease right-of-use assets
0.23
0.27
0.15
2.43
Intangible assets
25.3
21.9
18.5
15.1
11.7
2.6
1.53
Other non-current assets
0.08
0.08
0.08
0.32
0.33
0.18
2.49
Total assets
44.8
82.8
67.2
68.8
43.4
36.1
62.4
Accounts payable
2.49
2.05
1.58
1.37
3.19
4.15
4.79
Accrued liabilities
3.98
6.32
6.38
8.83
9.49
7.1
4.35
Deferred revenue
0.65
0.53
0.01
Short-term debt
1.69
6.31
8.06
3.32
1.25
Total current liabilities
18.3
26.8
26
42.6
43
37.8
25.1
Long-term debt
19.6
17.8
10.4
24.3
20.4
22.6
Lease liabilities
0.96
0.02
3.59
Other non-current liabilities
0.76
0.7
0.13
0.52
Total liabilities
55.4
62
53.6
73.9
82
82.4
34.7
Total debt
21.3
24.1
18.5
24.3
23.7
23.9
Paid-in capital
1.83
101
119
133
137
183
204
Retained earnings
-56.9
-80.3
-105
-138
-176
-230
-176
Shareholders' equity
-55.1
20.8
13.5
-5.03
-38.6
-46.3
27.7
Total equity
-55.1
20.8
13.5
-5.03
-38.6
-46.3
27.7
Total liabilities and equity
44.8
82.8
67.2
68.8
43.4
36.1
62.4
Shares outstanding
0.65
Cash flow statement
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-11.9
-21.8
-24.8
-32.9
-37.7
-53.9
53.4
Depreciation and amortization
3.86
3.86
3.73
3.73
3.75
3.45
2.79
Stock-based compensation
0.21
0.78
3.54
3.65
2.44
7.89
5.21
Change in receivables
-0.03
0.06
1.17
-0.83
0.8
0.53
0.08
Change in inventory
0.27
-2.93
0.56
-0.5
-0.61
-0.06
-1.64
Change in payables
-0.63
1.91
-0.42
4.91
-2.11
-1.15
-6.55
Cash from operations
-7.23
-13.6
-15.4
-21.4
-21.8
-22.7
-44.8
Capital expenditures
-0.58
-0.64
-0.37
-0.54
-0.35
-0.65
-1.88
Cash from investing
-0.58
-0.64
-0.37
-0.54
14.2
-0.47
78.6
Debt repaid
-0.11
-0.3
-2.78
-18.6
Stock issued
0.02
0
0.03
0.08
Cash from financing
7.98
51.2
6.71
8.54
9.84
17.1
-10.6
Net change in cash
0.18
36.9
-9.1
-13.4
2.29
-6.04
23.1
Free cash flow
-7.8
-14.3
-15.8
-22
-22.1
-23.3
-46.7
Interest paid
4.4
5.11
4.98
5.48
2.32
5.29
7.49
Income taxes paid
0.03
0.03
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $0.82 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
57.8%
Gross profit / revenue.
Operating margin
-214.8%
Operating income / revenue.
EBITDA margin
-200.8%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-184.2%
Pre-tax income / revenue.
Net margin
426.9%
Net income / revenue.
FCF margin
-379.3%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-362.5%
Cash from operations / revenue.
Return on equity (ROE)
329.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
118.7%
Net income / average total assets.
R&D / revenue
56.1%
Research and development expense / revenue.
Stock-based pay / revenue
33.3%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
16.8%
Capital expenditures / revenue.
D&A / revenue
14.0%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-15.0%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-19.8%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-22.0%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-1.8%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-17.2%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
-20.3%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value CAGR, 5y
5.8%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
72.6%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-3.2%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-5.5%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
58.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
49.2%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
74.3%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.77x
Current assets / current liabilities.
Quick ratio
1.01x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.95x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
FCF conversion
-88.8%
Free cash flow / net income, when net income is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$1.17
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.27
Revenue / diluted weighted shares.
FCF per share
-$1.04
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.99
Cash from operations / diluted weighted shares.
Book value per share
$0.36
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
0.70x
Market cap / net income. Only when net income is positive.
P/S
2.99x
Market cap / revenue.
P/B
2.31x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.46x
Market cap / tangible book value, when positive.
EV/Sales
1.35x
Enterprise value / revenue.
FCF yield
-126.8%
Free cash flow / market cap.
Earnings yield
142.7%
Net income / market cap (the inverse of P/E).
What was ELUTIA INC.'s revenue in fiscal 2025?
ELUTIA INC. reported revenue of $12.3M for fiscal 2025, 15% lower than the year before.
Was ELUTIA INC. profitable in fiscal 2025?
Yes. Net income was $53.4M, a net margin of 434.2%.
How much free cash flow did ELUTIA INC. generate in fiscal 2025?
Cash from operations of $44.8M minus capital expenditures of $1.9M left free cash flow of -$46.7M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.