---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-119834"
form_type: "8-K"
ticker: "ELUT"
cik: "0001708527"
company_name: "ELUTIA INC."
filed_at: "2022-11-17T23:59:59+00:00"
generated_at: "2026-06-21T16:43:37.176039+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Aziyo Q3 revenue $12.4M (+8% YoY); raises FY22 guide; FDA clarity on CanGaroo RM clearance Q1 2023

## Summary
- Net sales $12.4M, up 8% YoY; core products $8.9M, non-core $3.4M.
- Gross margin 41% (48% ex-intangible amortization) vs 32% prior year due to production efficiencies.
- Net loss $9.9M ($0.73/sh) vs $8.3M loss; includes $1.5M litigation expense and $0.8M CEO transition charge.
- Cash $8.1M; FY22 revenue guidance raised to $48-50M (prev $47-50M).
- Positive FDA meeting; expect CanGaroo RM 510(k) clearance Q1 2023; device compatibility sales +18% YoY.

## SEC filing metadata
- accession: 0001104659-22-119834
- form_type: 8-K
- ticker: ELUT
- cik: 0001708527
- company_name: ELUTIA INC.
- filed_at: 2022-11-17T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1708527/000110465922119834/0001104659-22-119834-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1708527/000110465922119834/tm2230834d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-119834
- JSON: https://secwatch.observer/filing/0001104659-22-119834.json
- Plain text: https://secwatch.observer/filing/0001104659-22-119834.txt

## Key facts
- Earnings Releases
  ELUTIA INC. reported the full year 2022 results: revenue $48 million to $50 million. Guidance raised.
  - Period: the full year 2022
  - Revenue: $48 million to $50 million
  - Guidance: raised
  - Result: guidance update
  source text: Guidance for Full Year 2022 Aziyo updated its expectation that total net sales for the full year 2022 will be in the range of $48 million to $50 million. Excluding approximately $4.9 million of FiberCel sales in 2021, this range represents expected growth of 13% to 18%. This updated guidance compares favorably to the previous guidance range of $47 million to $50 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708527/000110465922119834/0001104659-22-119834-index.htm
- Earnings Releases
  ELUTIA INC. reported the quarter ended September 30, 2022 results: revenue $12.4 million, net income $9.9 million, EPS $0.73 per share.
  - Period: the quarter ended September 30, 2022
  - Revenue: $12.4 million
  - Net income: $9.9 million
  - EPS: $0.73 per share
  - Result: reported results
  source text: Net sales for the third quarter of 2022 were $12.4 million, an increase of 8%, compared to the third quarter of 2021. Net sales of core products were $8.9 million in the third quarter of 2022, compared to $8.6 million for the third quarter of 2021, and net sales of non-core products were $3.4 million in the third quarter of 2022, compared to $2.9 million in the third quarter of 2021. Gross profit for the third quarter of 2022 was $5.0 million and gross margin was 41%, as compared to $3.7 million and 32%, respectively, in the corresponding prior-year period. Gross margin, excluding intangible asset amortization (a measure not presented in accordance with U.S. generally accepted accounting principles ("GAAP")) was 48% for the third quarter of 2022, as compared to 40% in the third quarter of 2021. The increase in gross margin was primarily due to recent production efficiencies and improved inventory management. 1 Total operating expenses were $12.8 million for the third quarter of 2022, a
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708527/000110465922119834/0001104659-22-119834-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.