Elutia Inc
elutia.comWhat Do They Do?
Sells human tissue matrices for soft-tissue reconstruction and biologic patches for cardiovascular repair to healthcare facilities, and develops tissue matrices that release medicine at surgical sites.
10-K for FY2025, filed Mar 13, 2026Elutia continues to market and sell its proprietary biologic matrix products, including SimpliDerm, a human acellular dermal matrix…View ↗
SimpliDerm is an hADM marketed for use in soft tissue repair, reinforcement, and reconstruction. It is manufactured using a proprietary…View ↗
We sell cardiovascular products derived from a biologic matrix based on porcine small intestinal submucosa extracellular matrix…View ↗
Our lead development programs comprise NXT-41, a next-generation biologic matrix, and NXT-41x, which builds on the NXT-41 matrix by…View ↗
Our platform builds on the established markets of biologic matrix for tissue repair and soft tissue reconstruction, with the addition of…View ↗
How Do They Make Money?
Healthcare providers pay for products when they ship or are delivered; consigned products are paid for when used or implanted.
10-K for FY2025, filed Mar 13, 2026
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10-K for FY2025, filed Mar 13, 2026
FY2025 revenue by reportable segment ↗
$12.3M
-
10-K for FY2025, filed Mar 13, 2026
$12.3M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Women's Health
Sold outright
10-K for FY2025, filed Mar 13, 2026 |
74% |
Women's Health, FY2025
$9.1M Sources
|
Sold outright |
|
Cardiovascular
Sold outright
10-K for FY2025, filed Mar 13, 2026 |
26% |
Cardiovascular, FY2025
$3.2M Sources
|
Sold outright |
Who Are Their Customers?
Plastic and reconstructive surgeons buy SimpliDerm through independent sales agents; hospitals and other healthcare facilities buy cardiovascular products through independent sales agents.
10-K for FY2025, filed Mar 13, 2026
10-K for FY2025, filed Mar 13, 2026
During the year ended December 31, 2025, there was one customer that represented 18% of the Company’s net sales in such year, and during…View ↗
Do Revenues Turn Into Profits?
Yes. Its net income in FY2025 was larger than its revenue, but spent more cash than it brought in: free cash flow was −$46.7M.
10-K for FY2025, filed Mar 13, 2026
−$26.9MView ↗
10-K for FY2025, filed Mar 13, 2026
$53.4MView ↗
10-K for FY2025, filed Mar 13, 2026
−$46.7MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 14, 2026
−$7.6MView ↗
- ▼ −20% (Loss)
- vs −$9.6M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 14, 2026
Open tableView ↗
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Aug 21, 2026
Elutia completed the sale of its SimpliDerm business
Cellution paid $7.7 million at closing; up to $3 million in contingent payments may follow.
Sources
8-K, filed Aug 21, 2026
On August 17, 2026, the parties completed the sale of the SimpliDerm Business. In accordance with the Purchase Agreement, $7.7 million of…View ↗
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Aug 7, 2026
Nasdaq notified Elutia of a minimum bid-price deficiency
Nasdaq gave Elutia until February 2, 2027, to regain compliance; failure could lead to delisting.
Sources
8-K, filed Aug 7, 2026
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided a compliance period of 180 calendar days from the date of…View ↗
Product focus
The older report covered device protection, women’s health, orthobiologics, and cardiovascular products; the latest report focuses development on drug-eluting matrices for reconstructive surgery alongside commercial soft-tissue and cardiovascular products.
10-K for FY2022, filed Mar 23, 2023 10-K for FY2025, filed Mar 13, 2026Our products are targeted to address unmet clinical needs with the goal of promoting healthy tissue formation and avoiding complications…View ↗
Following the sale of the CIED business, we are focused on advancing our drug-eluting biomatrix (“DEB”) platform. This platform builds on…View ↗
Our lead development programs comprise NXT-41, a next-generation biologic matrix, and NXT-41x, which builds on the NXT-41 matrix by…View ↗
Elutia continues to market and sell its proprietary biologic matrix products, including SimpliDerm, a human acellular dermal matrix…View ↗
Sales channels
The older report described a hybrid of direct sales, commercial partners, and independent agents; the latest says its current products are sold to healthcare facilities through independent agents.
10-K for FY2022, filed Mar 23, 2023 10-K for FY2025, filed Mar 13, 2026Our go-to-market strategy includes a hybrid of a direct sales force, commercial partners and independent sales agents. As of December 31…View ↗
Elutia continues to market and sell its proprietary biologic matrix products, including SimpliDerm, a human acellular dermal matrix…View ↗
Who Do They Compete With?
Competes with Gore, Terumo, AbbVie, MTF, Stryker, Evergen, and Integra
10-K for FY2025, filed Mar 13, 2026Our products compete primarily with other cardiovascular repair and human-derived acellular dermis products. ProxiCor, Tyke and VasCure…View ↗
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