Earnings Releases·Nov 5, 2026, 4:05 PM ET

Elutia — Third Quarter 2026 Earnings Summary

Net sales increased 20.4% year-over-year to $1.1 million for Q3 2026 and 65% to $3.3 million for the nine-month period, while GAAP gross margin improved to 61.7% from 52.8% in the prior year; however, net loss narrowed to $1.3 million from $3.9 million, driven by $5.2 million in income from discontinued operations.
The company secured $26 million in non-equity funding via the $8 million SimpliDerm sale, $8 million BioEnvelope holdback, and $10 million Avenue Capital loan draw, bringing cash and equivalents to $29.1 million with sufficient runway to 2028 without an equity offering.
Regulatory milestones for NXT-41x include FDA submission and clearance in Q4 2026, with anticipated commercial soft launch in H2 2027 and full launch in 2028; the Cardiovascular business segment grew 20% in Q3, and its strategic sale process is on track to conclude in Q4 2026.
Management highlighted a significant market gap for infection prevention in breast surgery (rates up to 23%) and confirmed the automated drug-coating system is positioned for commercial production with potential revenue capacity of $300 million and gross margins above 80% at scale.