ELUT on Nasdaq

ELUTIA INC.

At Elutia, our mission is to humanize medicine so that patients can thrive without compromise.4 From its latest annual report

Price unavailable

Last updated Oct 19, 2026.

Overview

$12.3MRevenue, fiscal 20252
$53.4MNet income, fiscal 20252

Compare with Revolution Medicines (United States), Caribou Biosciences, Inc. or Lineage Cell Therapeutics, or pick any stock.

  • TickerELUT on Nasdaq1
  • IndustryBiological Products, (No Diagnostic Substances)1
  • HeadquartersSilver Spring, Maryland1
  • Incorporated inDE3
  • Business address12510 Prosperity Drive, Suite 370, Silver Spring, Md 209043
  • Filer category, Emerging growth company3
  • Legal formCorporation

See how the biggest companies compare on our leaderboards

At Elutia, our mission is to humanize medicine so that patients can thrive without compromise. We develop proprietary drug-eluting biomatrix products for use in surgical reconstruction and related applications. These products are designed to improve the interaction between implanted medical devices and patients. Our focus is on addressing unmet medical needs and reducing complications associated with surgery, including infection, migration, erosion, implant rejection, and fibrosis. Our operations span research and development through the commercial distribution of biologic matrix products used in plastic and reconstructive surgery.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

53.7%Gross margin2
-218.9%Operating margin2
434.2%Net margin2
-15.0%Revenue growth, 20252
192.9%Return on equity2
-$46.7MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Women's Health brought in 74% of the revenue ELUTIA INC. broke down this way in fiscal 2025.

  1. Women's Health$9.1M274%down 21% from 2024
  2. Cardiovascular$3.2M226%up 8% from 2024
Business segments by year
Business segments20242025
Women's Health$11.6M$9.1M
Cardiovascular$2.9M$3.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue9¢$5.7M
  • Research and development7¢$4.2M
  • Income tax0¢$13.0K
  • Profit84¢$53.4M

Out of $12.3M in revenue.2

Financial statements

Revenue567892$12.3M in 2025−71% since 2019
0$20.0M$40.0M$60.0M2019: $42.9M$42.9M20192020: $42.7M$42.7M2020−1%2021: $47.4M$47.4M2021+11%2022: $23.8M$23.8M2022−50%2023: $24.7M$24.7M2023+4%2024: $14.5M$14.5M2024−42%2025: $12.3M$12.3M2025−15%
Gross profit567892$6.6M in 2025−67% since 2019
0$10.0M$20.0M$30.0M2019: $19.8M$19.8M20192020: $20.6M$20.6M2020+4%2021: $19.0M$19.0M2021−7%2022: $11.6M$11.6M2022−39%2023: $11.1M$11.1M2023−5%2024: $6.7M$6.7M2024−39%2025: $6.6M$6.6M2025−2%
Operating income567892-$26.9M in 2025+220% since 2019
-$40.0M-$30.0M-$20.0M-$10.0M02019: -$8.4M-$8.4M20192020: -$13.6M-$13.6M2020+62%2021: -$23.0M-$23.0M2021+69%2022: -$35.2M-$35.2M2022+53%2023: -$30.5M-$30.5M2023−13%2024: -$30.7M-$30.7M2024+1%2025: -$26.9M-$26.9M2025−12%
Net income567892$53.4M in 2025
-$100.0M-$50.0M0$50.0M$100.0M2019: -$11.9M-$11.9M20192020: -$21.8M-$21.8M2020+83%2021: -$24.8M-$24.8M2021+14%2022: -$32.9M-$32.9M2022+32%2023: -$37.7M-$37.7M2023+14%2024: -$53.9M-$53.9M2024+43%2025: $53.4M$53.4M2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.2

Period ending2025-12-312024-12-31
Net sales$12.3M$14.5M
Cost of goods sold$5.7M$7.8M
Gross profit$6.6M$6.7M
Sales and marketing$5.8M$5.0M
General and administrative$15.1M$18.1M
Research and development$4.2M$3.0M
Litigation costs, net$8.5M$11.4M
Total operating expenses$33.5M$37.4M
Loss from continuing operations-$26.9M-$30.7M
Interest (income) expense, net$387.0K-$934.0K
(Gain) loss on revaluation of warrant liability-$13.4M$14.9M
Other expense (income), net$2.8M-$1.2M
Loss from continuing operations before provision for income taxes-$15.9M-$45.3M
Income tax expense$13.0K$7.0K
Net loss from continuing operations-$15.9M-$45.3M
(Income) loss from discontinued operations$69.3M-$8.6M
Net income (loss)$53.4M-$53.9M
Less: dilutive gain on revaluation of warrant liability-$13.4M
Net income (loss) for dilutive earnings per share$40.0M-$53.9M
Net loss from continuing operations per share - basic (in dollars per share)-$0-$2
Net loss from continuing operations per share - diluted (in dollars per share)-$1-$2
Net income (loss) from discontinued operations per share - basic (in dollars per share)$2-$0
Net income (loss) from discontinued operations per share - diluted (In dollars per share)$2-$0
Net income (loss) per share - basic (in dollar per share)$1.29-$1.86
Net income (loss) per share - diluted (in dollar per share)$0.87-$1.86
Weighted average common shares outstanding - basic (in shares)41.4M shares29.1M shares
Weighted average common shares outstanding - diluted (in shares)45.9M shares29.1M shares

Compare ELUTIA INC. with another company

Leadership

Who has led ELUTIA INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Ronald K. Lloyd2020–2022

President

  1. Ronald K. Lloyd2020–2022

Chief financial officer

  1. Matthew Ferguson2020–now
2025
Board members and other officers (11)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • President, Chief Executive OfficerC. Randal Mills named Oct 3, 202325
  • Senior Vice President - Finance, Treasurer and SecretaryJeffrey Randal Hamet named Oct 3, 202325
  • Executive OfficerJeffrey Hamet named Dec 22, 202126
  • DirectorC. Randal Mills. Ph.D. named Dec 22, 202126

Former names

  • AZIYO BIOLOGICS, INC.Jun 9, 2017 to Aug 14, 20233

Timeline

  1. Oct 7, 2020New chief executive Ronald K. Lloyd becomes CEO14

Filings

297 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 75 major events, 129 insider forms, 30 large holders, 2 private raises, 41 other. The latest 20:

  1. Sep 14, 20264 EDGAR
  2. Sep 14, 20264 EDGAR
  3. Sep 14, 20264 EDGAR
  4. Aug 21, 20268-K EDGAR
  5. Aug 14, 2026S-8 EDGAR
  6. Aug 14, 202610-Q EDGAR
  7. Aug 14, 2026SCHEDULE 13G/A EDGAR
  8. Aug 13, 20268-K EDGAR
  9. Aug 11, 2026SCHEDULE 13G EDGAR
  10. Aug 7, 20268-K EDGAR
  11. Jul 20, 20268-K EDGAR
  12. Jun 22, 20264 EDGAR
  13. Jun 16, 20268-K EDGAR
  14. Jun 15, 20264 EDGAR
  15. Jun 15, 20264 EDGAR
  16. Jun 15, 20264 EDGAR
  17. Jun 15, 20264 EDGAR
  18. Jun 12, 20264 EDGAR
  19. Jun 12, 20264 EDGAR
  20. Jun 12, 20264 EDGAR

The 297 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

35 open-market trades by officers, directors and large owners since October 2021: 33 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jan 30, 2026NEELS GUIDO JDirectorBuy20,000$1.04$20.8KForm 4
Jan 30, 2026RAKIN KEVINDirectorBuy70,000$1.06$74.2KForm 4
Jan 29, 2026NEELS GUIDO JDirectorBuy15,000$1.06$15.9KForm 4
Jan 28, 2026NEELS GUIDO JDirectorBuy15,000$1.06$15.9KForm 4
Dec 17, 2025Colpman DavidDirectorBuy12,500$0.51$6.4KForm 4
Dec 17, 2025Makes BrigidDirectorBuy25,000$0.52$13.0KForm 4
Dec 17, 2025Mills C RandalPRESIDENT AND CEOBuy3,000$0.51$1.5KForm 4
Dec 17, 2025Ferguson MatthewCHIEF FINANCIAL OFFICERBuy60,000$0.53$31.8KForm 4
Dec 17, 2025HighCape Partners GP II, LLC10% ownerBuy50,000$0.52$26.0KForm 4
Dec 2, 2025Ferguson MatthewCHIEF FINANCIAL OFFICERBuy5,500$0.67$3.7KForm 4
Dec 1, 2025Ferguson MatthewCHIEF FINANCIAL OFFICERBuy4,500$0.65$2.9KForm 4
Nov 24, 2025Mills C RandalPRESIDENT AND CEOBuy5,000$0.60$3.0KForm 4
Nov 17, 2025Colpman DavidDirectorBuy15,500$0.74$11.5KForm 4
Nov 13, 2025Mills C RandalPRESIDENT AND CEOBuy13,500$0.75$10.1KForm 4
Feb 3, 2025HighCape Capital, L.P.DirectorBuy420,000$2.50$1.1MForm 4
Feb 3, 2025HIGHCAPE PARTNERS, L.P.10% ownerBuy420,000$2.50$1.1MForm 4
Mar 27, 2023Birchview Fund LLCBuy10,000$1.59$15.9KForm 4
Mar 27, 2023Birchview Capital, LPBuy10,000$1.59$15.9KForm 4
Mar 24, 2023Birchview Fund LLCBuy20,000$1.35$27.0KForm 4
Mar 24, 2023Birchview Capital, LPBuy20,000$1.35$27.0KForm 4

All 35 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Sep 21, 2023Raised $10.5 million in a private offering of equity Form D: 12 investors so far Form D
  2. Dec 5, 2021Raised $14 million in a private offering of equity Form D: 15 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 38. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Nantahala Capital Management, LLC6,369,894$6.2M0.2%+3,184,947
AIGH Capital Management LLC2,695,644$2.6M0.2%−899,606
Knollwood Investment Advisory, LLC2,556,724$2.5M0.2%No change
Silverarc Capital Management, LLC2,192,980$2.1M0.2%−305,040
Vanguard Capital Management LLC1,142,575$1.1M0.0%+118,876
Perkins Capital Management Inc694,094$379.9K0.3%−62,800
Geode Capital Management, LLC285,229$279.4K0.0%−8,167
Corient Private Wealth LP253,500$248.3K0.0%+4,468
Renaissance Technologies LLC201,816$197.7K0.0%+119,100
Vanguard Fiduciary Trust Co172,446$169.0K0.0%+53,101
BlackRock, Inc.167,857$164.4K0.0%+45,784
Birchview Capital, LP165,094$161.7K0.1%No change
Citadel Advisors LLC123,505$121.0K0.0%+11,400
Rossmore Private Capital120,000$117.6K0.0%No change
XTX Topco Ltd52,606$51.5K0.0%+14,456
Jane Street Group, LLC44,697$43.8K0.0%−19,380
Northern Trust Corp44,670$43.8K0.0%+17,008
Atom Investors LP44,231$43.3K0.0%New
LRI Investments, LLC25,224$24.7K0.0%New
Brown Advisory Inc20,135$19.7K0.0%No change
Verdence Capital Advisors LLC19,410$19.0K0.0%No change
Qube Research & Technologies Ltd17,175$16.8K0.0%+99
Indie Asset Partners, LLC12,612$12.4K0.0%No change
Fund Evaluation Group, LLC12,612$12.3K0.0%No change
State Street Corp11,969$11.7K0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36