Celularity Inc. Warrant (CELUW) Financials
Newest figures come from the 10-K for FY2025, filed Apr 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CELUW SEC filings page.
Celularity Inc. Warrant (CELUW) reported $26.6M in revenue for fiscal year 2025, down 51.0% from the prior fiscal year. 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).
The business depends on uneven revenue, with 2025 showing weaker margins, renewed cash outflow, and negative equity.
The 2024 sales jump did not create durable operating leverage: revenue fell from$54.2M to$26.6M , while gross margin compressed from72.4% to24.4% . Operating cash flow worsened from an outflow of$6.4M to$13.3M as the net loss widened, showing that the prior cash improvement was not sustained.
The balance sheet moved from thinly capitalized to a balance-sheet deficit: the current ratio fell from 0.4x in FY2024 to 0.2x in FY2025, indicating that short-term obligations outweighed current assets by an even wider margin. Total liabilities also rose from
The cash-versus-earnings gap is unusually wide: FY2025 operating cash outflow was
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. Warrant'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. Warrant 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. Warrant scores 20/100 among other emerging companies.
Celularity Inc. Warrant had 29M shares outstanding at the end of fiscal year 2025, against 22M 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. Warrant scores 92/100 among other emerging companies.
Celularity Inc. Warrant 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. Warrant scores 48/100 among other emerging companies.
Celularity Inc. Warrant 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. Warrant scores 53/100 among other emerging companies.
Celularity Inc. Warrant'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. Warrant scores 78/100 among other emerging companies.
Celularity Inc. Warrant'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. Warrant scores 9/100 among other emerging companies.
Celularity Inc. Warrant 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. Warrant 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.
Key Financial Metrics
Earnings & Revenue
Celularity Inc. Warrant generated $4.1M in revenue in Q4 2025. This represents a decrease of 77.4% from the same quarter a year earlier. Against the prior quarter it is down 22.3%.
Celularity Inc. Warrant's EBITDA was -$19.5M in Q4 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 196.8% from the same quarter a year earlier. Against the prior quarter it is down 70.3%.
Celularity Inc. Warrant reported -$24.4M in net income in Q4 2025. This represents a decrease of 83.3% from the same quarter a year earlier. Against the prior quarter it is down 5.6%.
Not reported for Q4 2025.
Cash & Balance Sheet
Celularity Inc. Warrant held $6.2M in cash against $33.8M in long-term debt as of Q4 2025.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
Celularity Inc. Warrant's gross margin was -79.7% in Q4 2025, indicating the percentage of revenue retained after direct costs. This is down 139.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 105.8 percentage points.
Not shown for Q4 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q4 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q4 2025.
Capital Allocation
Celularity Inc. Warrant invested $3.3M in research and development in Q4 2025. This represents a decrease of 12.6% from the same quarter a year earlier. Against the prior quarter it is down 27.2%.
Not reported for Q4 2025.
Not reported for Q4 2025.
CELUW 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 | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $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% | $14.7M+273.1% |
| Cost of Revenue | $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% | $1.6M-18.1% |
| Gross Profit | -$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% | $13.0M+575.0% |
| R&D Expenses | $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% | $5.8M-65.5% |
| SG&A Expenses | $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% | $14.0M+0.7% |
| Operating Income | -$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% | -$7.4M+88.5% |
| EBITDA | -$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% | -$5.2M+91.5% |
| Income Tax | N/A | N/A | N/A | N/A | N/A | $0 | $0 | $0 |
| Net Income | -$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% | -$22.0M+65.6% |
| EPS (Basic) | N/A | -$0.88-20.5% | -$1.02-240.0% | -$0.84+18.4% | N/A | -$0.73+85.3% | -$0.30+89.0% | -$1.03+75.0% |
| EPS (Diluted) | N/A | -$0.88-20.5% | -$1.02-240.0% | -$0.84+18.4% | N/A | -$0.73 | -$0.30+89.0% | -$1.03+75.0% |
| Diluted Shares (Avg) | N/A | 26M+19.9% | 24M+9.9% | 24M+9.7% | N/A | 22M | 22M+23.7% | 21M+38.0% |
Not reported in any period shown, so not listed: Interest Expense.
CELUW 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 | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $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% | $143.8M-60.3% |
| Current Assets | $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% | $22.9M-8.6% |
| Cash & Equivalents | $6.2M+736.7% | $120K-9.8% | $863K+84.8% | $293K-84.6% | $738K+225.1% | $133K-51.3% | $467K-84.9% | $1.9M-77.7% |
| Inventory | $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% | $3.7M-32.5% |
| Goodwill | $7.3M0.0% | $7.3M0.0% | $7.3M0.0% | $7.3M0.0% | $7.3M0.0% | $7.3M0.0% | $7.3M-91.8% | $7.3M-91.8% |
| Total Liabilities | $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% | $112.6M-45.6% |
| Current Liabilities | $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% | $66.0M-0.6% |
| Non-Current Liabilities | $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% | $46.5M-66.8% |
| Long-Term Debt | $33.8M | $35.7M | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$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% | $31.2M-79.9% |
| Retained Earnings | -$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% | -$863.8M-21.7% |
Not reported in any period shown, so not listed: Short-Term Investments, Accounts Receivable, Long-Term Investments.
CELUW 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 | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$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% | -$4.4M+70.6% |
| Depreciation & Amortization | $2.6M-5.8% | $1.4M-4.7% | $1.5M-5.1% | $1.8M-14.9% | $2.7M-20.3% | $1.5M-15.1% | $1.5M-13.3% | $2.2M-8.8% |
| Stock-Based Compensation | N/A | $471K-82.4% | $108K-96.4% | $2.6M-11.1% | N/A | $2.7M-25.7% | $3.0M-22.5% | $3.0M-25.6% |
| Capital Expenditures | N/A | N/A | N/A | N/A | $91K-84.3% | $0-100.0% | $31K0.0% | $39K-81.3% |
| Free Cash Flow | N/A | N/A | N/A | N/A | $1.5M+130.5% | -$144K+98.3% | -$3.5M+68.5% | -$4.4M+70.8% |
| Investing Cash Flow | N/A | N/A | N/A | N/A | -$1.6M-174.3% | $0+100.0% | $2.1M+7016.1% | -$39K+98.8% |
| Financing Cash Flow | $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% | $6.2M-51.2% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
CELUW 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 | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -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 | 88.8%+39.7pp |
| Operating Margin | -537.5% | -244.1% | -276.6% | -91.8%-41.5pp | -51.2% | -124.0% | -84.0% | -50.2% |
| Net Margin | -593.6% | -436.7% | -427.6% | -172.9% | -73.3%-152.1pp | -173.2% | -53.6% | -149.9% |
| Return on Equity | N/A | N/A | N/A | N/A | -150.4%-173.7pp | -93.2%+217.2pp | -23.3%+17.1pp | -70.5%-29.3pp |
| Return on Assets | -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 | -15.3%+2.3pp |
| Current Ratio | 0.15-0.2x | 0.160.0x | 0.250.0x | 0.380.0x | 0.38+0.1x | 0.190.0x | 0.260.0x | 0.350.0x |
| Debt-to-Equity | N/A | N/A | N/A | N/A | 14.01+11.5x | 6.46+2.3x | 3.87+3.7x | 3.60+3.6x |
| Asset Turnover | 0.04-0.1x | 0.050.0x | 0.050.0x | 0.090.0x | 0.14+0.1x | 0.070.0x | 0.09+0.1x | 0.10+0.1x |
| FCF Margin | N/A | N/A | N/A | N/A | 8.3%+48.9pp | -1.6% | -28.7% | -30.3% |
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. Warrant CELUW | FY2025 | $26.6M | -$91.7M | N/A | N/A | 50/100 |
| BriaCell Therapeutics Corp. Warrant BCTXW | FY2025 | N/A | -$26.3M | N/A | N/A | — |
| Estrella Immunopharma, Inc. Warrant ESLAW | FY2025 | N/A | -$13.1M | N/A | N/A | — |
| Pasithea Therapeutics Corp. Warrants KTTAW | FY2025 | N/A | -$20.4M | N/A | N/A | — |
| Tevogen Inc. Warrant TVGNW | FY2025 | N/A | N/A | N/A | N/A | — |
Where Celularity Inc. Warrant Ranks
Frequently Asked Questions
What is Celularity Inc. Warrant's annual revenue?
Celularity Inc. Warrant (CELUW) 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. Warrant's revenue growing?
Celularity Inc. Warrant (CELUW) revenue declined by 51.0% year-over-year, from $54.2M to $26.6M in fiscal year 2025.
Is Celularity Inc. Warrant profitable?
No, Celularity Inc. Warrant (CELUW) reported a net income of -$91.7M in fiscal year 2025.
What is Celularity Inc. Warrant's EBITDA?
Celularity Inc. Warrant (CELUW) had EBITDA of -$54.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Celularity Inc. Warrant have?
As of fiscal year 2025, Celularity Inc. Warrant (CELUW) had $6.2M in cash and equivalents against $33.8M in long-term debt.
What is Celularity Inc. Warrant's gross margin?
Celularity Inc. Warrant (CELUW) 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. Warrant's operating cash flow?
Celularity Inc. Warrant (CELUW) 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. Warrant's total assets?
Celularity Inc. Warrant (CELUW) had $107.3M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Celularity Inc. Warrant spend on research and development?
Celularity Inc. Warrant (CELUW) invested $15.0M in research and development during fiscal year 2025.
What is Celularity Inc. Warrant's current ratio?
Celularity Inc. Warrant (CELUW) 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. Warrant's return on assets (ROA)?
Celularity Inc. Warrant (CELUW) had a return on assets of -85.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Celularity Inc. Warrant's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Celularity Inc. Warrant (CELUW) 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. Warrant's debt-to-equity ratio negative or not reported?
Celularity Inc. Warrant (CELUW) 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. Warrant's Piotroski F-Score?
Celularity Inc. Warrant (CELUW) 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. Warrant's earnings high quality?
Celularity Inc. Warrant (CELUW) 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.
How financially healthy is Celularity Inc. Warrant?
Celularity Inc. Warrant (CELUW) 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.