Record FY2022 revenue $49.2M; FDA delays CanGaroo RM; Q4 net loss narrows

ELUTIA INC.

FY2022 net sales $49.2M (+4% YoY); ex-discontinued FiberCel, current product sales up 16%.
Q4 net sales $12.7M (+17% YoY); CanGaroo and SimpliDerm combined grew 30%.
FDA delayed clearance of CanGaroo RM Antibacterial Envelope; company cutting costs to extend cash runway.
Q4 gross margin improved to 39% (non-GAAP 46%); net loss per share $0.38 vs $0.82 YoY.
Entered U.S. distribution agreement with Sientra for SimpliDerm; cash $17.0M at Dec 31, 2022.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ELUTIA INC. reported the fourth quarter ended December 31, 2022 results: revenue $12.7 million, net income Net loss was $5.4 million, EPS Net loss per share in the fourth quarter of 2022 was $0.38 per share.

Period: the fourth quarter ended December 31, 2022
Revenue: $12.7 million
Net income: Net loss was $5.4 million
EPS: Net loss per share in the fourth quarter of 2022 was $0.38 per share
Result: reported results

Exact text from the filing

Net sales for the fourth quarter of 2022 were $12.7 million, an increase of 17% compared to the fourth quarter of 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ELUTIA INC. reported the full year ended December 31, 2022 results: revenue $49.2 million, net income Net loss was $32.9 million, EPS Loss per share in the full year 2022 was $2.38 per share.

Period: the full year ended December 31, 2022
Revenue: $49.2 million
Net income: Net loss was $32.9 million
EPS: Loss per share in the full year 2022 was $2.38 per share
Result: reported results

Exact text from the filing

Net sales for the full year 2022 were $49.2 million, an increase of 4% compared to the full year 2021 net sales of $47.4 million.

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ELUTIA INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-035590

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