Every 10-Q that Humacyte, Inc. (HUMA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow HUMA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full HUMA filings page.
Humacyte, Inc. reported modest commercialization progress and continued heavy losses for the six months ended June 30, 2026. Total revenue was $0.9 million, up slightly from $0.8 million a year earlier, driven by Symvess product revenue of $0.9 million.
Operating expenses remained high, with research and development of $37.6 million and general and administrative of $16.0 million, leading to an operating loss of $55.9 million and a net loss of $54.4 million for the six-month period. Net cash used in operating activities was $47.2 million. The company had cash and cash equivalents of $79.9 million and an accumulated deficit of $781.3 million as of June 30, 2026.
Humacyte raised capital through a $18.3 million March 2026 registered direct equity offering, a $53.8 million June 2026 underwritten public offering, and $4.6 million of ATM sales, and has a $40 million term loan outstanding plus remaining capacity under a $50 million equity line. Management states that current resources are insufficient to fund operations for 12 months without additional cash generation or financing, and discloses substantial doubt about its ability to continue as a going concern.
Humacyte, Inc. reported a net loss of $17.6 million for the quarter ended March 31, 2026, compared with net income of $39.1 million a year earlier, as favorable fair value movements on earnout and warrant liabilities were much smaller than in 2025.
Total revenue was $0.5 million, with product revenue from Symvess increasing to $493,000 while contract revenue declined. Operating expenses rose to $29.4 million, driven mainly by higher research and development spending of $19.5 million.
Humacyte used $25.1 million of cash in operating activities and ended the quarter with cash and cash equivalents of $48.5 million. Management states that these resources are not sufficient to fund operations beyond one year without stronger Symvess sales and/or additional financing, raising substantial doubt about the company’s ability to continue as a going concern.
Humacyte (HUMA) filed its Q3 2025 report, showing early commercialization of Symvess. Total Q3 revenue was $753 (in thousands), including $703 from product sales and $50 from contracts. Cost of goods sold was $260. Operating expenses declined year over year, with R&D at $17,273 and SG&A at $7,610. Loss from operations narrowed to $(24,390), and net loss improved to $(17,510), helped by gains in fair-value items.
Year to date, revenue reached $1,571, while the net loss was $(16,029). Cash and cash equivalents were $19,488 at September 30, 2025. The company amended its Revenue Interest Purchase Agreement and made a $50.0 million repayment using previously restricted cash, eliminating that restriction as of quarter-end. Management believes cash on hand and remaining capacity under its equity line are sufficient for at least twelve months from issuance.
The company began capitalizing Symvess inventory in early 2025, recording $18.4 million as of quarter-end. Availability remained under financing programs, with $47.5 million left on the equity line and $62.7 million under the ATM facility.
Humacyte reported early commercial activity for Symvess and maintained meaningful liquidity while continuing R&D spending. Cash and cash equivalents were $38.0 million with restricted cash of $50.2 million, totaling $88.4 million of cash and restricted cash. Total assets were $138.8 million and stockholders' equity was $4.1 million. The company recognized product and contract revenue of $0.3 million in Q2 2025 and $0.8 million for the six months ended June 30, 2025, and capitalized $11.1 million of inventory related to Symvess.
Operating expenses remained high: R&D was $37.4 million for six months and the operating loss was $52.9 million for the same period. Net results for the six months show a $1.5 million net income driven largely by a $44.3 million favorable change in the fair value of a contingent earnout liability, while the three‑month period posted a $37.7 million net loss. Financing activity included a $46.7 million public offering (net) and ATM proceeds of $3.6 million in the first half of 2025. The company implemented workforce reductions and expects existing cash plus available equity commitments to fund operations for at least twelve months from these interim statements.