The company's financial position appears stabilized with a current ratio of 2.05 as of 2026Q1, though this follows a history of significant asset write-downs that reduced goodwill from $11.7 million in 2023Q4 to $1.3 million.
| Total Current Assets | 48.59M | 55.82M | 26.17M | 31.25M | 50.7M | 47.43M | 59.71M | 18.45M | 18.14M |
| Cash & Short-Term Investments | 28.49M | 36.35M | 13.24M | 19.28M | 16.99M | 30.39M | 39.15M | 2.48M | 2.41M |
| Cash Only | 28.49M | 36.35M | 13.24M | 19.28M | 16.99M | 30.39M | 39.15M | 2.48M | 2.41M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 2.07M | 6.58M | 7.04M | 5.96M | 17.59M | 6M | 7.17M | 7.23M | 7.2M |
| Days Sales Outstanding | 157.97 | 195.37 | 105.36 | 87.9 | 269.16 | 46.18 | 61.28 | 61.5 | 67.32 |
| Inventory | 2.66M | 2.62M | 3.91M | 3.85M | 4.24M | 9.55M | 10.12M | 7.19M | 7.46M |
| Days Inventory Outstanding | 155.66 | 167.67 | 104.44 | 102.71 | 126.75 | 122.93 | 166.93 | 113.45 | 117.89 |
| Other Current Assets | 15.38M | 10.27M | 1.99M | 2.17M | 11.88M | 35K | 382K | 108K | 46K |
| Total Non-Current Assets | 6.62M | 6.53M | 9.96M | 12.18M | 18.14M | 19.74M | 23.1M | 26.33M | 29.61M |
| Property, Plant & Equipment | 5.36M | 5M | 1.68M | 504K | 565K | 1.2M | 1.16M | 988K | 870K |
| Fixed Asset Turnover | 3.20x | 2.46x | 14.49x | 49.10x | 42.21x | 39.49x | 36.73x | 43.42x | 44.87x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 1.26M | 1.53M | 8.27M | 11.67M | 15.07M | 18.47M | 21.86M | 25.26M | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 2.51M | 76K | 76K | 76K | 28.74M |
| Total Assets | 55.21M | 62.35M | 36.13M | 43.43M | 68.84M | 67.17M | 82.81M | 44.77M | 47.74M |
| Asset Turnover | 0.35x | 0.20x | 0.67x | 0.57x | 0.35x | 0.71x | 0.52x | 0.96x | 0.82x |
| Asset Growth % | 54.6% | 72.59% | -16.81% | -36.92% | 2.49% | -18.89% | 84.96% | -6.22% | - |
| Total Current Liabilities | 23.73M | 25.14M | 37.8M | 43.04M | 42.62M | 26M | 26.78M | 18.27M | 13.35M |
| Accounts Payable | 9.69M | 9.14M | 4.15M | 3.19M | 1.37M | 1.58M | 2.05M | 2.49M | 1.59M |
| Days Payables Outstanding | 427.7 | 585.78 | 110.8 | 85.07 | 41.07 | 20.36 | 33.89 | 39.32 | 25.12 |
| Short-Term Debt | 524K | 4.75M | 1.71M | 3.32M | 0 | 12.82M | 12.82M | 5.92M | 6.46M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 5K | 533K | 650K | 0 |
| Other Current Liabilities | 13.52M | 11.24M | 24.83M | 26.77M | 31.28M | 2.75M | 2.75M | 2.75M | -1.26M |
| Current Ratio | 2.05x | 2.22x | 0.69x | 0.73x | 1.19x | 1.82x | 2.23x | 1.01x | 1.36x |
| Quick Ratio | 1.94x | 2.12x | 0.59x | 0.64x | 1.09x | 1.46x | 1.85x | 0.62x | 0.80x |
| Cash Conversion Cycle | -114.07 | -222.74 | 99 | 105.55 | 354.84 | 148.75 | 194.32 | 135.63 | 160.1 |
| Total Non-Current Liabilities | 8.96M | 9.54M | 44.59M | 38.99M | 31.26M | 27.65M | 35.2M | 81.61M | 77.8M |
| Long-Term Debt | 5.57M | 2.83M | 22.6M | 20.36M | 24.26M | 10.41M | 17.81M | 19.61M | 75.92M |
| Capital Lease Obligations | 6.3M | 0 | 423K | 0 | 956K | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 3.39M | 6.71M | 21.57M | 18.64M | 6.04M | 16.54M | 16.63M | 61.29M | 1.88M |
| Total Liabilities | 32.68M | 34.68M | 82.39M | 82.03M | 73.87M | 53.65M | 61.98M | 99.88M | 91.15M |
| Total Debt | 6.09M | 7.58M | 24.74M | 23.95M | 25.45M | 23.24M | 30.64M | 25.53M | 82.39M |
| Net Debt | -22.4M | -28.77M | 11.5M | 4.68M | 8.46M | -7.16M | -8.52M | 23.05M | 79.97M |
| Debt / Equity | 0.27x | 0.27x | - | - | - | 1.72x | 1.47x | - | - |
| Debt / EBITDA | -0.26x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.96x | - | - | - | - | - | - | - | - |
| Interest Coverage | 6.90x | -47.58x | -10.32x | -6.11x | -6.06x | -3.65x | -2.87x | -1.21x | -1.09x |
| Total Equity | 22.53M | 27.67M | -46.26M | -38.6M | -5.03M | 13.52M | 20.83M | -55.11M | -43.41M |
| Equity Growth % | 347.43% | 159.82% | -19.84% | -666.94% | -137.22% | -35.09% | 137.8% | -26.97% | - |
| Book Value per Share | 0.52 | 0.60 | -1.59 | -2.13 | -0.36 | 1.29 | 2.04 | -5.17 | -4.07 |
| Total Shareholders' Equity | 22.53M | 27.67M | -46.26M | -38.6M | -5.03M | 13.52M | 20.83M | -55.11M | -43.41M |
| Common Stock | 44K | 43K | 35K | 23K | 16K | 13K | 10K | 1K | 9K |
| Retained Earnings | -183.68M | -176.21M | -229.59M | -175.64M | -137.99M | -105.09M | -80.26M | -56.94M | -45M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | -80.26M | -56.94M | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Binary product pipeline dependency
As reported in recent financial filings, Elutia's total assets have shifted from a low of $29.4 million in 2025Q3 to $55.2 million by 2026Q1, reflecting a strategic effort to bolster the balance sheet following the divestiture of legacy orthobiologics assets and the subsequent reduction in liabilities.
The recent improvement in the equity position, which moved from negative territory in 2025Q4 to $22.5 million in 2026Q1, suggests that the company is attempting to repair its capital structure. However, investors should monitor whether this stabilization is sustainable or merely a temporary byproduct of asset sales that does not address the underlying operational deficits.
Based on the most recent quarterly data, Elutia maintains a current ratio of 2.05, which represents a notable improvement from the sub-1.0 levels observed throughout 2024 and 2025, yet the company's cash runway remains highly sensitive to the ongoing burn rate associated with its drug-eluting platform.
While the current ratio suggests a temporary reprieve in liquidity, the reliance on cash reserves to fund R&D and commercialization efforts warrants caution. The company's ability to maintain this buffer depends heavily on its success in controlling operating expenses while awaiting regulatory milestones for its core product pipeline.
According to historical balance sheet data, Elutia's retained earnings have remained deeply negative, reaching -$183.7 million as of 2026Q1, which underscores the significant cumulative losses incurred during the company's transition toward its current drug-eluting biologic focus and the associated high-cost manufacturing requirements.
The persistent negative retained earnings indicate that the company has yet to achieve a self-sustaining business model, relying on external capital or divestiture proceeds to offset operational losses. This history of capital erosion suggests that future equity quality will be contingent upon achieving a definitive inflection point in product adoption.
As evidenced by the reduction in goodwill from $11.7 million in 2023Q4 to $1.3 million in 2026Q1, the company has aggressively written down intangible assets, which may indicate that previous acquisitions failed to deliver the expected synergies or market penetration in the competitive cardiac device space.
The rapid decline in goodwill suggests that the company's historical growth-by-acquisition strategy was fundamentally flawed, leading to significant impairments. Investors should remain wary of whether the remaining asset base, particularly PPE, is appropriately valued given the specialized and potentially volatile nature of biologic tissue processing.
Quick answers to the most common questions about buying ELUT stock.
As of 2025, Elutia Inc. (ELUT) had total assets of $62.4M including $55.8M in current assets.
Elutia Inc. (ELUT) carries total debt of $7.6M, offset by $36.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Elutia Inc. (ELUT) has total shareholders' equity (book value) of $27.7M ($0.60 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Elutia Inc. (ELUT) reported a current ratio of 2.22x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.