Elutia Q3 net sales $5.9M (-3.3%); EluPro adoption accelerates with 100+ VAC submissions

ELUTIA INC.

2024-Q3 EPS reported -$1.65 revenue$18,907,000

Overall Q3 net sales $5.9M, down 3.3% YoY; BioEnvelope sales down 12% to $2.3M as customers await EluPro.
SimpliDerm sales up 19% to $3.1M; adjusted gross margin improved to 61% from 60%.
Net income from cont. ops $1.3M driven by $12.7M non-cash warrant revaluation gain; adjusted EBITDA loss $2.9M.
EluPro: first patient implant, over 100 VAC submissions, 36 accounts ordering; full commercial launch set for Jan 2025.
Cash balance $25.7M as of Sep 30, 2024, includes $13.8M from warrant exercises in early Q3.

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