8-K
filed May 10, 2023, 7:59 PM ET
ticker ELUT
CIK 0001708527
earnings
confidence high
sentiment negative
materiality 0.85
ELUTIA INC. (ELUT): Nasdaq/NYSE listing notice — Aziyo reports record Q1 sales $13.1M; Nasdaq warns MVLS below $35M
ELUTIA INC.
2023-Q1 EPS reported
-$0.49
revenue$13,050,000
- Net sales rose 14% YoY to record $13.1M; gross margin improved to 49% from 37%.
- Net loss $8.0M ($0.49 per share) vs $8.1M ($0.60) in Q1 2022.
- Partnerships with LeMaitre Vascular and Sientra to expand distribution of cardiovascular and SimpliDerm products.
- Nasdaq notified company its MVLS was below $35M; 180-day compliance period ends Oct 31, 2023.
- Cash balance $11.8M; FDA meeting confirmed path to resubmit CanGaroo RM 510(k).
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 first quarter ended March 31, 2023 results: revenue $13.1 million, net income $8.0 million, EPS $0.49 per share.
- Period
- first quarter ended March 31, 2023
- Revenue
- $13.1 million
- Net income
- $8.0 million
- EPS
- $0.49 per share
- Result
- reported results
Exact text from the filing
Net sales for the first quarter of 2023 were $13.1 million, an increase of 14% compared to the first quarter of 2022.
View on SEC.gov
Listing & Compliance Notices
SEC 8-K Item 3.01
confidence 0.98
ELUTIA INC. received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2), 5550(b)(1), 5550(b)(3)).
- Exchange
- nasdaq
- Notice
- deficiency notice
- Deficiency
- market value
- Rules
- 5550(b)(2), 5550(b)(1), 5550(b)(3)
Exact text from the filing
May 4, 2023, the Company received written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for 30 consecutive business days, the Company’s Market Value of Listed Securities (“MVLS”) was below the minimum of $35 million required for continued listing on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2) (the “Market Value Standard”). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rules 5550(b)(1) (Equity Standard) and 5550(b)(3) (Net In
View on SEC.gov
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