Celularity Inc. (CELU) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 17, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q1 FY2026, filed Sep 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CELU SEC filings page.
Celularity Inc. (CELU) reported $19.0M in revenue over the twelve months to Mar 31, 2026, down 62.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue is volatile, margins swing sharply, and persistent losses have left the balance sheet dependent on financing and weak liquidity.
Earnings and cash tell different stories: in FY2025, the net loss reached$91.7M while operating cash outflow was$13.3M , so reported earnings overstated the period’s immediate cash consumption. Yet the balance sheet still weakened because liabilities exceeded assets, leaving negative equity despite the smaller cash outflow.
The FY2024 margin peak did not persist: revenue fell to
Cash needs appear primarily operational rather than expansionary: FY2024 operating cash outflow of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Celularity Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Celularity Inc. held $6.2M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $13.3M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Celularity Inc. scores 20/100 among other emerging companies.
Celularity Inc. had 29M shares outstanding at the end of fiscal year 2025, against 24M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Celularity Inc. scores 92/100 among other emerging companies.
Celularity Inc. spent $15.0M on research and development in fiscal year 2025, which was 17.1% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Celularity Inc. scores 48/100 among other emerging companies.
Celularity Inc. reported revenue of $26.6M in fiscal year 2025, against $54.2M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Celularity Inc. scores 52/100 among other emerging companies.
Celularity Inc.'s operations used $13.3M of cash in fiscal year 2025, against $6.4M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Celularity Inc. scores 78/100 among other emerging companies.
Celularity Inc.'s cash, cash equivalents and investments came to $6.2M at the end of fiscal year 2025, against $145.4M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Celularity Inc. scores 9/100 among other emerging companies.
Celularity Inc. scores -15.17, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($40.6M) relative to total liabilities ($145.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Celularity Inc. passes 1 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Celularity Inc. reported a net loss of $91.7M while operations used $13.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Celularity Inc. reported an operating loss of $61.3M against $9K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Celularity Inc. generated $3.8M in revenue in Q1 2026. This represents a decrease of 66.3% from the same quarter a year earlier. Against the prior quarter it is down 6.3%.
Celularity Inc.'s EBITDA was -$8.5M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 1.3% from the same quarter a year earlier. Against the prior quarter it is up 56.2%.
Celularity Inc. reported $874K in net income in Q1 2026. This represents an increase of 104.4% from the same quarter a year earlier. Against the prior quarter it is up 103.6%.
Cash & Balance Sheet
Celularity Inc. held $368K in cash as of Q1 2026; long-term debt is not reported for that period.
Not reported for Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Celularity Inc.'s gross margin was 62.3% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 6.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 141.9 percentage points.
Celularity Inc.'s net profit margin was 22.7% in Q1 2026, showing the share of revenue converted to profit. No change is given against Q1 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q1 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q1 2026.
Capital Allocation
Celularity Inc. invested $3.0M in research and development in Q1 2026. This represents a decrease of 19.7% from the same quarter a year earlier. Against the prior quarter it is down 10.5%.
Not reported for Q1 2026.
Not reported for Q1 2026.
CELU Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.8M-66.3% | $4.1M-77.4% | $5.3M-43.2% | $5.7M-52.6% | $11.4M-22.2% | $18.1M+49.7% | $9.3M+145.5% | $12.1M+312.2% |
| Cost of Revenue | $1.5M-59.1% | $7.4M+0.4% | $3.9M+0.5% | $5.2M+146.9% | $3.6M+116.7% | $7.3M-23.6% | $3.9M+7.8% | $2.1M+164.7% |
| Gross Profit | $2.4M-69.6% | -$3.3M-130.3% | $1.4M-74.5% | $494K-95.1% | $7.9M-39.6% | $10.8M+331.0% | $5.4M+2841.8% | $10.0M+367.6% |
| R&D Expenses | $3.0M-19.7% | $3.3M-12.6% | $4.6M+17.4% | $3.4M-11.8% | $3.7M-36.2% | $3.8M+1307.4% | $3.9M-24.5% | $3.8M-55.8% |
| SG&A Expenses | $9.2M-35.7% | $15.1M-6.2% | $9.3M-26.4% | $12.6M-20.6% | $14.3M+1.7% | $16.1M+22.9% | $12.7M+17.7% | $15.9M+24.0% |
| Operating Income | -$10.1M+3.4% | -$22.1M-137.7% | -$12.9M-11.9% | -$15.9M-55.9% | -$10.5M-42.2% | -$9.3M-169.7% | -$11.5M+88.4% | -$10.2M+76.0% |
| EBITDA | -$8.5M+1.3% | -$19.5M-196.8% | -$11.5M-14.4% | -$14.4M-66.8% | -$8.7M-65.7% | -$6.6M-139.3% | -$10.0M+89.7% | -$8.6M+78.8% |
| Interest Expense | $352K-85.6% | N/A | $9K | N/A | $2.4M | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0 |
| Net Income | $874K+104.4% | -$24.4M-83.3% | -$23.1M-43.3% | -$24.5M-278.0% | -$19.8M+10.3% | -$13.3M-239.2% | -$16.1M+82.9% | -$6.5M+86.5% |
| EPS (Basic) | $0.02+102.4% | -$0.85-44.1% | -$0.88-20.5% | -$1.02-240.0% | -$0.84+18.4% | -$0.59-170.2% | -$0.73+85.3% | -$0.30+89.0% |
| EPS (Diluted) | $0.02 | -$0.85-44.1% | -$0.88-20.5% | -$1.02-240.0% | -$0.84+18.4% | -$0.59 | -$0.73 | -$0.30+89.0% |
| Diluted Shares (Avg) | 30M | N/A | 26M+19.9% | 24M+9.9% | 24M+9.7% | N/A | 22M | 22M+23.7% |
CELU Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $99.5M-22.8% | $107.3M-19.1% | $114.2M-11.3% | $120.3M-11.2% | $128.9M-10.4% | $132.7M-7.8% | $128.8M-18.0% | $135.5M-45.0% |
| Current Assets | $6.3M-71.5% | $12.3M-40.1% | $10.6M-26.9% | $17.3M-2.6% | $22.1M-3.4% | $20.6M+3.9% | $14.5M-12.1% | $17.7M-1.7% |
| Cash & Equivalents | $368K+25.6% | $6.2M+736.7% | $120K-9.8% | $863K+84.8% | $293K-84.6% | $738K+225.1% | $133K-51.3% | $467K-84.9% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $477K-92.3% | $571K-89.4% | $2.6M-35.3% | $4.4M+51.3% | $6.2M+67.4% | $5.4M-6.0% | $4.0M-19.7% | $2.9M-49.2% |
| Accounts Receivable | $4.8M | $4.7M | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Investments | $0 | $0 | $2.9M | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $7.3M0.0% | $7.3M0.0% | $7.3M0.0% | $7.3M0.0% | $7.3M0.0% | $7.3M0.0% | $7.3M0.0% | $7.3M-91.8% |
| Total Liabilities | $134.7M+0.3% | $145.4M+17.4% | $134.3M+20.4% | $145.8M+35.4% | $134.4M+19.4% | $123.8M+20.3% | $111.6M-12.1% | $107.7M-15.8% |
| Current Liabilities | $70.6M+20.3% | $80.8M+50.4% | $65.3M-14.3% | $69.2M+2.0% | $58.7M-11.1% | $53.7M-20.2% | $76.2M-10.0% | $67.9M+4.5% |
| Non-Current Liabilities | $64.2M-15.2% | $64.6M-7.9% | $69.0M+95.0% | $76.6M+92.4% | $75.7M+62.7% | $70.2M+96.9% | $35.4M-16.4% | $39.8M-36.8% |
| Long-Term Debt | N/A | $33.8M | $35.7M | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$35.3M-540.4% | -$38.1M-530.7% | -$20.1M-216.3% | -$25.5M-191.7% | -$5.5M-117.6% | $8.8M-78.4% | $17.3M-42.9% | $27.8M-76.5% |
| Retained Earnings | -$990.6M-7.7% | -$991.5M-10.2% | -$967.1M-9.1% | -$944.0M-8.5% | -$919.5M-6.4% | -$899.7M-6.9% | -$886.4M-4.1% | -$870.3M-14.9% |
CELU Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.4M+148.3% | -$5.1M-420.1% | -$4.2M-2788.2% | -$999K+71.0% | -$3.0M+32.0% | $1.6M+136.7% | -$144K+98.3% | -$3.4M+68.7% |
| Depreciation & Amortization | $1.6M-12.9% | $1.8M-3.9% | $1.4M-4.7% | $1.5M-5.1% | $1.8M-14.9% | $1.9M-18.3% | $1.5M-15.1% | $1.5M-13.3% |
| Stock-Based Compensation | $1.2M-52.9% | N/A | $471K-82.4% | $108K-96.4% | $2.6M-11.1% | N/A | $2.7M-25.7% | $3.0M-22.5% |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | $91K-84.3% | $0-100.0% | $31K0.0% |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | $1.5M+130.5% | -$144K+98.3% | -$3.5M+68.5% |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | -$1.6M-174.3% | $0+100.0% | $2.1M+7016.1% |
| Financing Cash Flow | -$7.3M-416.5% | $11.2M+1644.9% | $3.5M+4502.5% | $1.6M+1912.2% | $2.3M-62.7% | $643K+4692.9% | -$79K-101.4% | -$90K-101.6% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
CELU Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 62.3%-6.6pp | -79.7%-139.2pp | 26.1%-32.1pp | 8.6%-73.9pp | 68.9%-19.9pp | 59.5%+38.8pp | 58.2%+53.4pp | 82.5%+9.8pp |
| Operating Margin | -263.5% | -537.5% | -244.1% | -276.6% | -91.8%-41.5pp | -51.2% | -124.0% | -84.0% |
| Net Margin | 22.7% | -593.6% | -436.7% | -427.6% | -172.9% | -73.3%-152.1pp | -173.2% | -53.6% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | -150.4%-173.7pp | -93.2%+217.2pp | -23.3%+17.1pp |
| Return on Assets | 0.9%+16.2pp | -22.7%-12.7pp | -20.2%-7.7pp | -20.4%-15.6pp | -15.3%0.0pp | -10.0%-16.6pp | -12.5%+47.2pp | -4.8%+14.7pp |
| Current Ratio | 0.09-0.3x | 0.15-0.2x | 0.160.0x | 0.250.0x | 0.380.0x | 0.38+0.1x | 0.190.0x | 0.260.0x |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | 14.01+11.5x | 6.46+2.3x | 3.87+3.7x |
| Asset Turnover | 0.04-0.1x | 0.04-0.1x | 0.050.0x | 0.050.0x | 0.090.0x | 0.14+0.1x | 0.070.0x | 0.09+0.1x |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | 8.3%+48.9pp | -1.6% | -28.7% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Note: Shareholder equity is negative (-$38.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.15), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Celularity Inc. CELU | FY2025 | $26.6M | -$91.7M | N/A | $40.6M | 50/100 |
| MiNK Therapeutics, Inc. INKT | FY2025 | N/A | -$12.5M | N/A | $48.0M | — |
| ABVC BioPharma, Inc. ABVC | FY2025 | $296K | -$7.9M | N/A | $24.5M | — |
| PMV Pharmaceuticals, Inc PMVP | FY2025 | N/A | -$77.7M | N/A | $64.7M | — |
| Artiva Biotherapeutics, Inc. ARTV | FY2025 | $0 | -$83.9M | N/A | $286.0M | — |
| Applied Therapeutics, Inc. APLT | FY2024 | $455K | -$105.6M | N/A | $14.9M | — |
Where Celularity Inc. Ranks
Frequently Asked Questions
What is Celularity Inc.'s annual revenue?
Celularity Inc. (CELU) reported $26.6M in total revenue for fiscal year 2025. This represents a -51.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Celularity Inc.'s revenue growing?
Celularity Inc. (CELU) revenue declined by 51.0% year-over-year, from $54.2M to $26.6M in fiscal year 2025.
Is Celularity Inc. profitable?
No, Celularity Inc. (CELU) reported a net income of -$91.7M in fiscal year 2025.
What is Celularity Inc.'s EBITDA?
Celularity Inc. (CELU) had EBITDA of -$54.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Celularity Inc. have?
As of fiscal year 2025, Celularity Inc. (CELU) had $6.2M in cash and equivalents against $33.8M in long-term debt.
What is Celularity Inc.'s gross margin?
Celularity Inc. (CELU) had a gross margin of 24.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Celularity Inc.'s operating cash flow?
Celularity Inc. (CELU) recorded an outflow of $13.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Celularity Inc.'s total assets?
Celularity Inc. (CELU) had $107.3M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Celularity Inc. spend on research and development?
Celularity Inc. (CELU) invested $15.0M in research and development during fiscal year 2025.
What is Celularity Inc.'s current ratio?
Celularity Inc. (CELU) had a current ratio of 0.15 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Celularity Inc.'s return on assets (ROA)?
Celularity Inc. (CELU) had a return on assets of -85.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Celularity Inc.'s P/E ratio?
Celularity Inc. (CELU) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to March 31, 2026). The market capitalization is $40.6M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Celularity Inc.'s price-to-sales ratio?
Celularity Inc. (CELU) trades at 2.1x sales, its market capitalization divided by revenue of $19.0M revenue, trailing 12 months to March 31, 2026. The market capitalization is $40.6M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Celularity Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Celularity Inc. (CELU) held $6.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $13.3M over that year. Dividing the one by the other, the reported balance equals about 6 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Celularity Inc.'s debt-to-equity ratio negative or not reported?
Celularity Inc. (CELU) has negative shareholder equity of -$38.1M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Celularity Inc.'s Altman Z-Score?
Celularity Inc. (CELU) has an Altman Z-Score of -15.17, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Celularity Inc.'s Piotroski F-Score?
Celularity Inc. (CELU) has a Piotroski F-Score of 1 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Celularity Inc.'s earnings high quality?
Celularity Inc. (CELU) reported a net loss of $91.7M while operations used $13.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Celularity Inc. cover its interest payments?
Celularity Inc. (CELU) reported an operating loss of $61.3M against $9K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Celularity Inc.?
Celularity Inc. (CELU) scores 50 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.