What is Elutia Inc.'s earnings per share (EPS)?

Elutia Inc. (ELUT) reported diluted earnings per share of $0.87 for fiscal year 2025. This represents a 146.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Elutia Inc. Financials

ELUT

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Elutia Inc. (ELUT) financial statements, including the 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).

Financial Health Signals

Financial Profile 38/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Elutia Inc. has an operating margin of -218.9%, meaning the company retains $-219 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -212.3% the prior year.

Growth

Elutia Inc.'s revenue declined 15% year-over-year, from $14.5M to $12.3M. This contraction results in a growth score of 8/100.

Leverage

Elutia Inc. carries a low D/E ratio of 1.25, meaning only $1.25 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 76/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Elutia Inc.'s current ratio of 2.22 indicates adequate short-term liquidity, earning a score of 41/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Elutia Inc. generated -$44.8M in operating cash flow, capex of $1.9M consumed most of it, leaving -$46.7M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

100

Elutia Inc. earns a strong 192.9% return on equity (ROE), meaning it generates $193 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100.

Piotroski F-Score Neutral

5/9

Elutia Inc. passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

-0.84x

For every $1 of reported earnings, Elutia Inc. generates $-0.84 in operating cash flow (-$44.8M OCF vs $53.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$12.3M

YoY-15.0%

5Y CAGR-22.0%

Elutia Inc. generated $12.3M in revenue in fiscal year 2025. This represents a decrease of 15.0% from the prior year.

EBITDA

-$24.1M

YoY+11.5%

Elutia Inc.'s EBITDA was -$24.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 11.5% from the prior year.

Net Income

$53.4M

YoY+198.9%

Elutia Inc. reported $53.4M in net income in fiscal year 2025. This represents an increase of 198.9% from the prior year.

EPS (Diluted)

$0.87

YoY+146.8%

Elutia Inc. earned $0.87 per diluted share (EPS) in fiscal year 2025. This represents an increase of 146.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$46.7M

YoY-100.3%

Elutia Inc. generated -$46.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 100.3% from the prior year.

Cash & Debt

$36.4M

YoY+174.6%

5Y CAGR-1.5%

Elutia Inc. held $36.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

53.7%

YoY+7.2pp

5Y CAGR+5.5pp

Elutia Inc.'s gross margin was 53.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 7.2 percentage points from the prior year.

Operating Margin

-218.9%

YoY-6.6pp

5Y CAGR-187.0pp

Elutia Inc.'s operating margin was -218.9% in fiscal year 2025, reflecting core business profitability. This is down 6.6 percentage points from the prior year.

Net Margin

434.2%

YoY+807.1pp

5Y CAGR+485.4pp

Elutia Inc.'s net profit margin was 434.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 807.1 percentage points from the prior year.

Return on Equity

192.9%

5Y CAGR+297.7pp

Elutia Inc.'s ROE was 192.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending

$4.2M

YoY+38.9%

5Y CAGR-6.9%

Elutia Inc. invested $4.2M in research and development in fiscal year 2025. This represents an increase of 38.9% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$1.9M

YoY+186.9%

5Y CAGR+24.0%

Elutia Inc. invested $1.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 186.9% from the prior year.

ELUT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$12.3M-15.0%	$14.5M-41.5%	$24.7M+3.8%	$23.8M+16.6%	$20.5M-52.1%	$42.7M
Cost of Revenue	$5.7M-26.5%	$7.8M-43.4%	$13.7M+12.1%	$12.2M+9.3%	$11.2M-49.5%	$22.1M
Gross Profit	$6.6M-1.8%	$6.7M-39.2%	$11.1M-5.0%	$11.6M+25.4%	$9.3M-54.9%	$20.6M
R&D Expenses	$4.2M+38.9%	$3.0M-31.8%	$4.4M-43.1%	$7.7M-0.3%	$7.8M+30.2%	$6.0M
SG&A Expenses	$15.1M-16.6%	$18.1M+28.1%	$14.1M-12.1%	$16.1M+22.3%	$13.1M+23.3%	$10.6M
Operating Income	-$26.9M+12.4%	-$30.7M-0.6%	-$30.5M+13.3%	-$35.2M-23.3%	-$28.5M-109.8%	-$13.6M
Interest Expense	N/A	$4.8M-17.5%	$5.8M+13.2%	$5.1M-3.9%	$5.3M-5.5%	$5.6M
Income Tax	$13K+85.7%	$7K-75.0%	$28K-17.6%	$34K-38.2%	$55K+111.5%	$26K
Net Income	$53.4M+198.9%	-$53.9M-43.3%	-$37.7M-14.5%	-$32.9M-32.5%	-$24.8M-13.8%	-$21.8M
EPS (Diluted)	$0.87+146.8%	$-1.86+10.1%	$-2.07+13.0%	$-2.380.0%	$-2.38+73.2%	$-8.88

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	N/A	$3.3M-46.9%	$6.3M+3.9%	$6.0M	N/A	$3.7M-41.8%	$6.3M-6.0%	$6.7M
Cost of Revenue	N/A	$1.5M-54.1%	$3.2M-10.3%	$3.6M	N/A	$1.9M-46.4%	$3.5M-9.3%	$3.9M
Gross Profit	N/A	$1.9M-39.4%	$3.1M+24.5%	$2.5M	N/A	$1.8M-36.0%	$2.8M-1.5%	$2.8M
R&D Expenses	N/A	$1.1M-25.3%	$1.5M+60.9%	$905K	N/A	$702K-29.9%	$1.0M-14.6%	$1.2M
SG&A Expenses	N/A	$3.5M-4.8%	$3.7M-4.5%	$3.9M	N/A	$4.3M-7.4%	$4.7M-7.3%	$5.1M
Operating Income	N/A	-$5.2M+47.3%	-$9.9M-24.7%	-$7.9M	N/A	-$9.2M-7.8%	-$8.5M-0.4%	-$8.5M
Interest Expense	N/A	$265K-48.8%	$518K-52.3%	$1.1M	N/A	$131K-89.7%	$1.3M-3.5%	$1.3M
Income Tax	N/A	$8K0.0%	$8K0.0%	$8K	N/A	$8K+172.7%	-$11K-237.5%	$8K
Net Income	N/A	-$3.9M+59.8%	-$9.6M-144.3%	-$3.9M	N/A	$1.3M+104.6%	-$28.2M-56.6%	-$18.0M
EPS (Diluted)	N/A	$-0.19+26.9%	$-0.26-23.8%	$-0.21	N/A	$-0.33+70.8%	$-1.13-50.7%	$-0.75

ELUT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$62.4M+72.6%	$36.1M-16.8%	$43.4M-36.9%	$68.8M+2.5%	$67.2M-18.9%	$82.8M
Current Assets	$55.8M+113.3%	$26.2M-16.3%	$31.3M-38.4%	$50.7M+6.9%	$47.4M-20.6%	$59.7M
Cash & Equivalents	$36.4M+174.6%	$13.2M-31.3%	$19.3M+13.5%	$17.0M-44.1%	$30.4M-22.4%	$39.1M
Inventory	$2.6M+35.5%	$1.9M-49.9%	$3.9M-9.1%	$4.2M+52.2%	$2.8M-72.5%	$10.1M
Accounts Receivable	$1.7M-23.8%	$2.3M-30.2%	$3.3M-13.5%	$3.8M+12.4%	$3.4M-53.1%	$7.2M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$34.7M-57.9%	$82.4M+0.4%	$82.0M+11.0%	$73.9M+37.7%	$53.6M-13.4%	$62.0M
Current Liabilities	$25.1M-33.5%	$37.8M-12.2%	$43.0M+1.0%	$42.6M+63.9%	$26.0M-2.9%	$26.8M
Long-Term Debt	N/A	$22.6M+11.0%	$20.4M-16.1%	$24.3M+133.0%	$10.4M-41.6%	$17.8M
Total Equity	$27.7M+159.8%	-$46.3M-19.8%	-$38.6M-666.9%	-$5.0M-137.2%	$13.5M-35.1%	$20.8M
Retained Earnings	-$176.2M+23.2%	-$229.6M-30.7%	-$175.6M-27.3%	-$138.0M-31.3%	-$105.1M-30.9%	-$80.3M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$62.4M+112.0%	$29.4M-13.1%	$33.8M-13.9%	$39.3M+8.8%	$36.1M-25.4%	$48.4M+15.5%	$41.9M+18.5%	$35.4M
Current Assets	$55.8M+203.7%	$18.4M-17.5%	$22.3M-25.8%	$30.0M+14.7%	$26.2M-29.9%	$37.3M+23.0%	$30.4M+26.5%	$24.0M
Cash & Equivalents	$36.4M+670.0%	$4.7M-44.5%	$8.5M-51.0%	$17.4M+31.1%	$13.2M-48.6%	$25.7M+41.5%	$18.2M+44.9%	$12.6M
Inventory	$2.6M+30.1%	$2.0M-61.6%	$5.2M+22.3%	$4.3M+122.0%	$1.9M-46.8%	$3.6M+16.6%	$3.1M+2.1%	$3.1M
Accounts Receivable	$1.7M-51.2%	$3.6M+12.8%	$3.1M+10.1%	$2.9M+25.7%	$2.3M-22.3%	$2.9M-16.7%	$3.5M-20.2%	$4.4M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$34.7M-52.7%	$73.3M-3.1%	$75.7M-0.1%	$75.8M-8.0%	$82.4M-7.1%	$88.6M-16.6%	$106.2M+24.0%	$85.7M
Current Liabilities	$25.1M-39.2%	$41.3M+8.9%	$37.9M+3.0%	$36.9M-2.5%	$37.8M-4.7%	$39.7M-0.3%	$39.8M+4.6%	$38.1M
Long-Term Debt	N/A	$21.1M-1.2%	$21.4M-1.8%	$21.8M-3.7%	$22.6M-0.2%	$22.6M+20.0%	$18.9M-4.4%	$19.7M
Total Equity	$27.7M+163.0%	-$43.9M-5.0%	-$41.8M-14.8%	-$36.5M+21.2%	-$46.3M-15.0%	-$40.2M+37.5%	-$64.3M-27.9%	-$50.3M
Retained Earnings	-$176.2M+28.7%	-$247.0M-1.6%	-$243.1M-4.1%	-$233.5M-1.7%	-$229.6M-4.1%	-$220.5M+0.6%	-$221.8M-14.6%	-$193.6M

ELUT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$44.8M-97.8%	-$22.7M-4.1%	-$21.8M-1.5%	-$21.4M-38.8%	-$15.4M-13.4%	-$13.6M
Capital Expenditures	$1.9M+186.9%	$654K+89.0%	$346K-35.9%	$540K+46.3%	$369K-42.3%	$640K
Free Cash Flow	-$46.7M-100.3%	-$23.3M-5.4%	-$22.1M-0.6%	-$22.0M-38.9%	-$15.8M-10.9%	-$14.3M
Investing Cash Flow	$78.6M+16673.6%	-$474K-103.3%	$14.2M+2731.1%	-$540K-46.3%	-$369K+42.3%	-$640K
Financing Cash Flow	-$10.6M-162.2%	$17.1M+73.7%	$9.8M+15.3%	$8.5M+27.2%	$6.7M-86.9%	$51.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$24.8M-759.5%	-$2.9M+64.9%	-$8.2M+7.4%	-$8.9M+27.5%	-$12.3M-257.7%	-$3.4M+20.9%	-$4.3M-64.0%	-$2.6M
Capital Expenditures	$854K+35.6%	$630K+452.6%	$114K-59.0%	$278K+195.7%	$94K-82.8%	$547K+27450.0%	-$2K-113.3%	$15K
Free Cash Flow	-$25.7M-629.8%	-$3.5M+57.8%	-$8.3M+8.9%	-$9.2M+25.8%	-$12.4M-210.8%	-$4.0M+8.3%	-$4.3M-63.2%	-$2.7M
Investing Cash Flow	$79.6M+12731.9%	-$630K-452.6%	-$114K+59.0%	-$278K-195.7%	-$94K+82.8%	-$547K-400.5%	$182K+1313.3%	-$15K
Financing Cash Flow	-$23.1M-8731.3%	-$262K+49.2%	-$516K-103.9%	$13.3M+8893.4%	-$151K-101.3%	$11.5M+17.8%	$9.8M+340.5%	-$4.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ELUT Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	53.7%+7.2pp	46.4%+1.8pp	44.7%-4.1pp	48.8%+3.4pp	45.4%-2.8pp	48.2%
Operating Margin	-218.9%-6.6pp	-212.3%-88.9pp	-123.4%+24.2pp	-147.6%-8.1pp	-139.5%-107.6pp	-31.9%
Net Margin	434.2%+807.1pp	-372.9%-220.7pp	-152.2%-14.2pp	-137.9%-16.5pp	-121.4%-70.3pp	-51.1%
Return on Equity	192.9%	N/A	N/A	N/A	-183.7%-78.9pp	-104.8%
Return on Assets	85.6%+234.9pp	-149.3%-62.6pp	-86.7%-38.9pp	-47.8%-10.8pp	-37.0%-10.6pp	-26.4%
Current Ratio	2.22+1.5	0.69-0.0	0.73-0.5	1.19-0.6	1.82-0.4	2.23
Debt-to-Equity	1.25+1.7	-0.49+0.0	-0.53+4.3	-4.82-5.6	0.77-0.1	0.85
FCF Margin	-379.8%-218.7pp	-161.1%-71.8pp	-89.3%+2.8pp	-92.1%-14.8pp	-77.3%-43.9pp	-33.4%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	55.8%+6.9pp	48.8%+8.1pp	40.8%	N/A	48.9%+4.4pp	44.5%+2.0pp	42.5%
Operating Margin	N/A	-156.7%+0.9pp	-157.7%-26.3pp	-131.4%	N/A	-250.6%-115.3pp	-135.3%-8.6pp	-126.7%
Net Margin	N/A	-116.4%+37.0pp	-153.4%-88.2pp	-65.2%	N/A	35.1%+483.1pp	-447.9%-179.1pp	-268.8%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	-13.2%+15.2pp	-28.4%-18.4pp	-10.0%	N/A	2.7%+69.9pp	-67.3%-16.4pp	-50.9%
Current Ratio	2.22+1.8	0.44-0.1	0.59-0.2	0.81+0.1	0.69-0.2	0.94+0.2	0.76+0.1	0.63
Debt-to-Equity	1.25+1.7	-0.48+0.0	-0.51+0.1	-0.60-0.1	-0.49+0.1	-0.56-0.3	-0.29+0.1	-0.39
FCF Margin	N/A	-105.8%+27.4pp	-133.2%+18.7pp	-151.9%	N/A	-108.5%-39.6pp	-68.9%-29.2pp	-39.7%

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Frequently Asked Questions

What is Elutia Inc.'s annual revenue?

Elutia Inc. (ELUT) reported $12.3M in total revenue for fiscal year 2025. This represents a -15.0% 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 Elutia Inc.'s revenue growing?

Elutia Inc. (ELUT) revenue declined by 15% year-over-year, from $14.5M to $12.3M in fiscal year 2025.

Is Elutia Inc. profitable?

Yes, Elutia Inc. (ELUT) reported a net income of $53.4M in fiscal year 2025, with a net profit margin of 434.2%.

What is Elutia Inc.'s EBITDA?

Elutia Inc. (ELUT) had EBITDA of -$24.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Elutia Inc.'s gross margin?

Elutia Inc. (ELUT) had a gross margin of 53.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Elutia Inc.'s operating margin?

Elutia Inc. (ELUT) had an operating margin of -218.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Elutia Inc.'s net profit margin?

Elutia Inc. (ELUT) had a net profit margin of 434.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Elutia Inc.'s return on equity (ROE)?

Elutia Inc. (ELUT) has a return on equity of 192.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Elutia Inc.'s free cash flow?

Elutia Inc. (ELUT) generated -$46.7M in free cash flow during fiscal year 2025. This represents a -100.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Elutia Inc.'s operating cash flow?

Elutia Inc. (ELUT) generated -$44.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Elutia Inc.'s total assets?

Elutia Inc. (ELUT) had $62.4M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Elutia Inc.'s capital expenditures?

Elutia Inc. (ELUT) invested $1.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Elutia Inc. spend on research and development?

Elutia Inc. (ELUT) invested $4.2M in research and development during fiscal year 2025.

What is Elutia Inc.'s current ratio?

Elutia Inc. (ELUT) had a current ratio of 2.22 as of fiscal year 2025, which is generally considered healthy.

What is Elutia Inc.'s debt-to-equity ratio?

Elutia Inc. (ELUT) had a debt-to-equity ratio of 1.25 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Elutia Inc.'s return on assets (ROA)?

Elutia Inc. (ELUT) had a return on assets of 85.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Elutia Inc.'s cash runway?

Based on fiscal year 2025 data, Elutia Inc. (ELUT) had $36.4M in cash against an annual operating cash burn of $44.8M. This gives an estimated cash runway of approximately 10 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Elutia Inc.'s Piotroski F-Score?

Elutia Inc. (ELUT) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Elutia Inc.'s earnings high quality?

Elutia Inc. (ELUT) has an earnings quality ratio of -0.84x, considered low quality (accrual-driven). 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 Elutia Inc.?

Elutia Inc. (ELUT) scores 38 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.