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Celularity Inc

celularity.com

What Do They Do?

Sells placental-derived tissue products for soft-tissue repair and surgery, and develops cellular therapies for physicians treating patients with age-related and other diseases.

How Do They Make Money?

Celularity sells placental-derived tissue products in individual transactions. Expectant parents pay collection and processing fees after processing and storage upfront or in installments; license agreements may pay milestones, while distributor sales are invoiced after purchase orders.

revenue
SegmentShareRevenue
Product
Sold outright

50%
FY2022: 21%
Service
Mix

20%
FY2022: 31%
License Royalty and Other
Licensed

30%
FY2022: 48%

Who Are Their Customers?

Biomaterial products are sold directly and through distribution partners. Expectant parents contract for collection, processing and storage services, while third parties can use contract manufacturing and development services.

Customers above 10% of revenue, FY2025
of revenue from two customers (21%, 12%)
FY2024: 33% from two customers

Do Revenues Turn Into Profits?

No. It lost $91.7M in FY2025.

Operating income, FY2025
−231% of revenue
▲ +60% (Loss) vs FY2024 (−$38.4M, −71%)
Net income, FY2025
−345% of revenue
▲ +58% (Loss) vs FY2024 (−$57.9M, −107%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▼ −5%
vs $5.7M in Q2 FY2025
Net income
▲ Now profitable
vs −$24.5M in Q2 FY2025
Product share of revenue vs 41.5% in Q2 FY2025
  • Sep 11, 2026 Regained compliance with two Nasdaq listing requirements The periodic-report filing requirement remained unresolved.
  • Jul 29, 2026 Received notice of a Nasdaq bid-price deficiency The company had until January 19, 2027, to regain compliance.
  • Jun 12, 2026 Received notice of a Nasdaq market-value deficiency The company had until December 7, 2026, to regain compliance.

Growing. Revenue grew 24% in 4 years, from $21.3M in FY2021 to $26.6M in FY2025, about 6% a year.

Broader marketed biomaterials range The older report described Biovance and Interfyl as the main biomaterials; the latest report lists additional marketed products, including CentaFlex and Rebound.

Longevity-centered therapy focus The older report described therapies across cancer, infectious and degenerative diseases; the latest report emphasizes longevity-focused programs for age-related disease.

Revenue over time
Product Service License Royalty and Other
$100M$50M$0

Who Do They Compete With?

Competes with Fate Therapeutics, Century Therapeutics, Nkarta, Artiva Biotherapeutics, Wugen, Shoreline Biosciences, Mesoblast, Longeveron, Allogene Therapeutics, Atara Biotherapeutics, Adaptimmune Therapeutics, Celyad, CRISPR Therapeutics, Intellia Therapeutics, Gilead Sciences, Poseida Therapeutics, Precision Biosciences, Sangamo Therapeutics, Sana Biotechnology, and Caribou Bio

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