Humacyte, Inc. HUMA
Humacyte, Inc. is a commercial-stage biotechnology platform company developing universally implantable, bioengineered human tissues at commercial scale, and in the first quarter of 2025 commenced the United States commercial launch of our first FDA-approved product. We are pioneering the development and manufacture of off-the-shelf, universally implantable, bioengineered human tissues, advanced tissue constructs and organ systems with the goal of improving the lives of patients and transforming the practice of medicine. We believe our regenerative medicine technology has the potential to overcome limitations in existing standards of care and address the lack of significant innovation in products that support tissue repair, reconstruction and replacement. We are leveraging our novel, scalable technology platform to develop proprietary, bioengineered, acellular human tissues for use in the treatment of diseases and conditions across a range of anatomic locations in multiple therapeutic areas.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $2.0M | $0 | — | — | — | — | — |
| Cost of revenue | $9.7M | $0 | — | — | — | — | — |
| Gross profit | -$7.7M | $0 | — | — | — | — | — |
| R&D | $69.3M | $88.6M | $76.5M | $63.3M | $61.3M | $54.1M | — |
| SG&A | $31.2M | $25.8M | $23.5M | $22.9M | $21.1M | $12.0M | — |
| Total operating expenses | $110.2M | $114.4M | $100.0M | $86.1M | $82.5M | $66.1M | — |
| Operating income | -$108.1M | -$114.4M | -$100.0M | -$84.6M | -$81.2M | -$64.6M | — |
| Interest expense | $11.2M | $9.3M | $6.6M | $6.2M | $4.3M | $2.2M | — |
| Pre-tax income | -$40.8M | -$148.7M | -$110.8M | -$12.0M | -$26.5M | -$66.5M | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net income | -$40.8M | -$148.7M | -$110.8M | -$12.0M | -$26.5M | -$66.5M | — |
| EPS, basic | -0.26 | -1.26 | -1.07 | -0.12 | -0.66 | -11.54 | — |
| EPS, diluted | -0.26 | -1.26 | -1.07 | -0.12 | -0.66 | -11.54 | — |
| Shares, diluted (wtd. avg.) | 158.2M | 118.5M | 103.4M | 103.1M | 40.0M | 5.8M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $50.5M | $44.9M | $80.8M | $149.8M | $217.5M | $39.9M | $93.7M |
| Short-term investments | — | — | $0 | $2.1M | $8.0M | $0 | — |
| Receivables | $441.0K | $0 | $0 | $31.0K | $176.0K | $113.0K | — |
| Inventory | $13.6M | $0 | — | — | — | — | — |
| Total current assets | $67.8M | $47.9M | $83.3M | $154.2M | $229.3M | $41.4M | — |
| Property, plant and equipment | $18.5M | $23.1M | $26.8M | $30.0M | $35.0M | $41.0M | — |
| Total assets | $116.4M | $137.9M | $128.2M | $204.3M | $286.5M | $106.7M | — |
| Accounts payable | $5.4M | $4.5M | $6.5M | $1.6M | $2.1M | $2.3M | — |
| Total current liabilities | $18.4M | $20.0M | $18.4M | $19.6M | $11.1M | $11.2M | — |
| Long-term debt | $35.4M | $0 | — | — | $30.0M | — | — |
| Total liabilities | $113.3M | $190.5M | $114.7M | $87.4M | $164.4M | $36.0M | — |
| Retained earnings | -$726.8M | -$686.0M | -$537.3M | -$426.5M | -$414.6M | -$388.1M | — |
| Total equity | $3.1M | -$52.7M | $13.5M | $116.9M | $122.2M | -$350.3M | -$288.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$105.0M | -$98.1M | -$73.3M | -$71.1M | -$81.2M | -$55.6M | — |
| Depreciation and amortisation | $5.3M | $5.1M | $5.7M | $6.2M | $6.2M | $6.3M | — |
| Stock-based compensation | $9.8M | $6.1M | $6.8M | $6.2M | $10.1M | $4.7M | — |
| Capital expenditure | $884.0K | $1.6M | $2.3M | $1.0M | $220.0K | $318.0K | — |
| Investing cash flow | -$884.0K | -$1.6M | -$173.0K | $4.8M | -$8.2M | -$268.0K | — |
| Financing cash flow | $61.5M | $114.2M | $4.5M | -$1.4M | $267.0M | $2.1M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-187449.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | $0 | $2.0M |
| Gross profit | — | — | — | — | — | $0 | -$7.7M |
| Net income | — | -$66.5M | -$26.5M | -$12.0M | -$110.8M | -$148.7M | -$40.8M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event Item 8.01
- Delisting notice Item 3.01
- Material agreement signed Item 1.01
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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