Elutia Inc. (ELUT) Income Statement
ELUT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsELUT revenue and net income
Where ELUT's revenue goes
2025Each bar shows an amount and its share of revenue. ELUT kept 434.2% of revenue as net income.
ELUT profit margins
ELUT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −49.6% | −19.8% | −22.0% | — |
| Gross profit | −38.4% | −17.2% | −20.3% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ELUT quarterly EPS vs estimates
Elutia beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 5, 2026.
ELUT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.3M | $24.4M | $24.7M | $23.8M | $47.4M | $42.7M | $42.9M | $39.0M |
| Cost of revenue | $5.7M | $13.7M | $13.7M | $12.2M | $28.4M | $22.1M | $23.1M | $23.1M |
| Gross profit | $6.6M | $10.7M | $11.1M | $11.6M | $19.0M | $20.6M | $19.8M | $15.9M |
| Research & development | $4.2M | $3.8M | $4.4M | $7.7M | $9.3M | $6.0M | $2.4M | $2.5M |
| Sales, general & admin | $20.8M | $31.2M | $27.2M | $33.9M | $32.5M | $28.2M | $25.8M | — |
| Total operating expenses | $25.0M | $46.4M | $41.6M | $46.8M | $42.1M | $34.2M | $28.2M | $24.2M |
| Operating income | −$18.4M | −$35.7M | −$30.5M | −$35.2M | −$23.0M | −$13.6M | −$8.4M | −$8.2M |
| Interest income | $400,000 | — | — | — | — | — | — | — |
| Interest expense | $387,000 | $4.8M | $5.8M | $5.1M | $5.3M | $5.6M | $5.4M | $5.5M |
| Income before taxes | −$15.9M | −$54.1M | −$41.2M | −$36.1M | −$24.8M | −$21.8M | −$11.9M | −$11.5M |
| Income taxes | $13,000 | $7,000 | $28,000 | $34,000 | $55,000 | $26,000 | $30,000 | $26,000 |
| Net income | $53.4M | −$53.9M | −$37.7M | −$32.9M | −$24.8M | −$21.8M | −$11.9M | −$11.6M |
| EBITDA | −$13.5M | −$48.3M | −$31.7M | −$27.3M | −$15.7M | −$12.3M | −$2.7M | −$2.2M |
| EPS (diluted) | $0.95 | −$1.82 | −$2.04 | −$2.40 | −$2.36 | −$17.09 | −$11.94 | −$11.57 |
| Gross margin | 53.7% | 43.9% | 44.7% | 48.8% | 40.1% | 48.2% | 46.1% | 40.8% |
| Operating margin | −149.8% | −146.3% | −123.4% | −147.5% | −48.6% | −31.9% | −19.6% | −21.1% |
| Net margin | 434.2% | −221.3% | −152.2% | −137.9% | −52.4% | −51.1% | −27.8% | −29.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.4M | $3.1M | $3.3M | $3.3M | $6.3M | $6.0M | $5.5M | $5.9M | $6.3M | $6.7M | $5.9M | $6.1M |
| Cost of revenue | $980,000 | $1.3M | $1.4M | $1.5M | $3.2M | $3.6M | $3.1M | $3.2M | $3.5M | $3.9M | $3.7M | $3.3M |
| Gross profit | $1.4M | $1.8M | $1.9M | $1.9M | $3.1M | $2.5M | $2.3M | $2.7M | $2.8M | $2.8M | $2.1M | $2.8M |
| Research & development | $2.5M | $2.0M | $1.2M | $1.1M | $1.5M | $905,000 | $834,000 | $778,000 | $1.0M | $1.2M | $1.4M | $557,000 |
| Sales, general & admin | $4.8M | $5.6M | $4.0M | $5.1M | $7.5M | $6.9M | $7.3M | $7.5M | $8.0M | $8.4M | $6.5M | $5.6M |
| Total operating expenses | $9.4M | $7.5M | $7.4M | $6.2M | $12.9M | $10.4M | $10.8M | $13.0M | $11.3M | $11.3M | $10.6M | $10.2M |
| Operating income | −$8.0M | −$5.7M | −$5.5M | −$4.4M | −$9.9M | −$7.9M | −$8.4M | −$10.2M | −$8.5M | −$8.5M | −$8.5M | −$7.4M |
| Interest income | $35,000 | $108,000 | $358,000 | — | $491,000 | — | — | — | — | — | — | — |
| Interest expense | — | $108,000 | $3.6M | $265,000 | $518,000 | $1.1M | $1.1M | $1.1M | $1.3M | $1.3M | $1.5M | $1.4M |
| Income before taxes | −$7.6M | −$7.8M | −$6.5M | −$375,000 | −$9.6M | −$3.9M | −$9.1M | $1.3M | −$28.4M | −$18.0M | −$15.2M | −$8.5M |
| Income taxes | $8,000 | $70,000 | −$11,000 | $8,000 | $8,000 | $8,000 | $2,000 | $8,000 | −$11,000 | $8,000 | −$8,000 | $12,000 |
| Net income | −$7.6M | −$7.5M | $70.8M | −$3.9M | −$9.6M | −$3.9M | −$9.1M | $1.3M | −$28.2M | −$18.0M | −$9.3M | −$9.7M |
| EBITDA | −$7.3M | −$7.6M | −$9.9M | $618,000 | −$8.2M | −$2.0M | −$7.1M | $3.3M | −$26.2M | −$15.8M | −$12.8M | −$6.1M |
| EPS (diluted) | −$0.17 | −$0.17 | $1.48 | −$0.09 | −$0.23 | −$0.21 | −$0.26 | $0.33 | −$1.14 | −$0.75 | −$0.40 | −$0.50 |
| Gross margin | 59.6% | 57.9% | 58.5% | 55.8% | 48.8% | 40.7% | 42.5% | 46.3% | 44.5% | 42.5% | 36.2% | 46.4% |
| Operating margin | −327.9% | −184.4% | −167.9% | −131.1% | −157.7% | −131.4% | −154.2% | −172.7% | −135.3% | −126.7% | −144.8% | −120.3% |
| Net margin | −315.0% | −239.9% | 2,164.2% | −116.4% | −153.4% | −65.2% | −165.7% | 21.7% | −447.9% | −268.8% | −158.5% | −159.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ELUT's financial statements (latest annual report filed March 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ELUT financial results
In fiscal year 2025 (ended December 31, 2025), Elutia reported revenue of $12.3 million, down 49.6% from the year before. It had net income of $53.4 million, a net profit margin of 434.2%. Diluted earnings per share came to $0.95. Over five years revenue grew at an average rate of −22.0% a year.
See the ELUT stock overview for the latest quote and news, or the ELUT chart for price history and technical indicators.
ELUT income statement FAQ
What is Elutia's annual revenue?
Elutia reported total revenue of $12.3 million for fiscal year 2025, which ended on December 31, 2025. That was down 49.6% from $24.4 million the previous year.
Is Elutia profitable?
Yes. Elutia reported net income of $53.4 million in fiscal 2025, a net profit margin of 434.2%; its operating margin was −149.8%.
What is Elutia's gross margin?
Elutia's gross margin was 53.7% in fiscal 2025: for every $100 of revenue, Elutia kept $54 after the direct cost of its products and services.
How much does Elutia spend on research and development?
Elutia spent $4.2 million on research and development in fiscal 2025, 33.9% of revenue.
How fast is Elutia growing?
Revenue grew −22.0% a year on average over the last five fiscal years, from $42.7 million to $12.3 million.
What are Elutia's earnings per share?
Elutia earned $0.95 per diluted share in fiscal 2025, compared with $-1.82 a year earlier.
When will Elutia report its next earnings?
Elutia is expected to report results for the quarter ending September 30, 2026 on November 5, 2026.
When does Elutia's fiscal year end?
Elutia's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 13, 2026.