Education
About Us
Working with TipRanks
Follow Us
Aziyo Biologics (ELUT)
NASDAQ:ELUT
Top Page
Aziyo Biologics
(NASDAQ:ELUT)
47Neutral
Positive Factors
Distribution Partnership
Distribution partner Boston Scientific’s 900 person EP focused sales organization will be able to offer EluPro in its implant cases, expected to provide a significant tailwind.
Financial Stability
Elutia's financial position remains solid with $26M of cash, supporting continued operations and strategic initiatives.
Sales Growth
Initial receptivity to EluPro has been positive, with same-center sales increasing 65% following EluPro commercialization.
Negative Factors
Business Challenges
Q4 revenue shortfall was related to the Women’s Health business (SimpliDerm) as partner Tiger continues through its reorganization process.
Product Performance
SimpliDerm was below expectations in Q4 due to partner Tiger working through its reorganization process.
Revenue Shortfall
Revenue was below expectations due to non-core cardiovascular performance and bio-envelope cannibalization.
Aziyo Biologics (ELUT) vs. S&P 500 (SPY)
Market Cap
$111.97M
Dividend YieldN/A
Average Volume (3M)48.84K
Price to Earnings (P/E)―
Beta (1Y)0.77
Revenue Growth-31.04%
EPS Growth11.34%
CountryUS
Employees51
SectorHealthcare
Sector Strength66
IndustryBiotechnology
Share Statistics
EPS (TTM)-2.48
Shares Outstanding36,552,350
10 Day Avg. Volume61,540
30 Day Avg. Volume48,841
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)4.88
Price to Cash Flow (P/CF)-2.40
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$9.00Price Target Upside228.47% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Aziyo Biologics Business Overview & Revenue Model
Company DescriptionAziyo Biologics, Inc. (ELUT) is a regenerative medicine company dedicated to developing and delivering innovative products to improve patient outcomes. The company operates primarily in the medical device and biotechnology sectors, focusing on the commercialization of biologic solutions for use in various therapeutic areas, including cardiology, orthopedics, and wound care. Aziyo's core products are designed to enhance tissue repair and regeneration, leveraging proprietary technologies to address significant unmet medical needs.
How the Company Makes MoneyAziyo Biologics generates revenue through the sale of its biologic products and solutions to healthcare providers, hospitals, and medical institutions. The company's key revenue streams include direct sales of its medical devices and biologics, as well as partnerships with other healthcare companies that distribute and utilize Aziyo's products. Aziyo's earnings are significantly influenced by its ability to innovate and expand its product portfolio, strategic collaborations with industry leaders, and its effectiveness in navigating regulatory pathways to bring new products to market.
Aziyo Biologics Financial Statement Overview
Summary
Aziyo Biologics is facing significant financial difficulties, with declining revenue, profitability issues, high leverage, and negative cash flows. The company needs to address its debt levels and improve operational efficiency to stabilize its financial position and enhance shareholder value.Income Statement
Aziyo Biologics has been experiencing declining revenue and increasing losses over the years. The gross profit margin is shrinking, and net income has been consistently negative, indicating profitability challenges. Revenue decreased in 2024 compared to 2023, highlighting a concerning trend. The EBIT and EBITDA margins are negative, reflecting operational inefficiencies.45
Neutral
Balance Sheet
The balance sheet reveals a high level of debt and a negative stockholders' equity, indicating financial instability. The debt-to-equity ratio is not applicable due to negative equity, but the company is clearly highly leveraged. Total assets have decreased, and the equity ratio is negative, signifying financial distress.30
Negative
Cash Flow
Operating cash flow and free cash flow are negative, which raises concerns about the company's ability to generate cash from operations. Free cash flow has been declining, and there is a significant reliance on financing activities to cover cash shortfalls. The operating cash flow to net income ratio is not favorable, reflecting cash flow challenges.40
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 24.38M | 24.75M | 23.85M | 47.39M | 42.68M | Gross Profit |
| 10.71M | 11.05M | 11.64M | 19.02M | 20.56M | EBIT |
| -35.65M | -30.53M | -29.99M | -23.03M | -13.60M | EBITDA |
| -45.89M | -31.92M | -27.46M | -15.72M | -12.30M | Net Income Common Stockholders |
| -53.95M | -37.66M | -32.90M | -24.83M | -21.82M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 13.24M | 19.28M | 16.99M | 30.43M | 39.53M | Total Assets |
| 36.13M | 43.43M | 68.84M | 67.17M | 82.81M | Total Debt |
| 30.23M | 23.95M | 39.40M | 44.99M | 52.31M | Net Debt |
| 16.99M | 4.68M | 22.41M | 14.56M | 12.78M | Total Liabilities |
| 82.39M | 82.03M | 73.87M | 53.65M | 61.98M | Stockholders Equity |
| -46.26M | -38.60M | -5.03M | 13.52M | 20.83M |
| Cash Flow | Free Cash Flow | |||
| -22.66M | -22.11M | -22.44M | -15.99M | -14.07M | Operating Cash Flow |
| -22.66M | -21.76M | -21.90M | -15.62M | -13.44M | Investing Cash Flow |
| -474.00K | 14.21M | -540.00K | -369.00K | -640.00K | Financing Cash Flow |
| 17.09M | 9.84M | 9.00M | 6.88M | 51.02M |
Aziyo Biologics Technical Analysis
Negative
2.74
Price Trends
3.00
Negative
3.46
Negative
3.64
Negative
Market Momentum
-0.06
Positive
38.49
Neutral
5.55
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ELUT, the sentiment is Negative. The current price of 2.74 is below the 20-day moving average (MA) of 3.00, below the 50-day MA of 3.00, and below the 200-day MA of 3.64, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 38.49 is Neutral, neither overbought nor oversold. The STOCH value of 5.55 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ELUT.
Aziyo Biologics Risk Analysis
Aziyo Biologics disclosed 77 risk factors in its most recent earnings report. Aziyo Biologics reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Aziyo Biologics Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $1.16B | 26.85 | 25.01% | ― | 8.52% | -32.91% | |
54 Neutral | $16.85B | 136.07 | -9.24% | 2.79% | -14.00% | -184.82% | |
51 Neutral | $644.26M | ― | -22.87% | ― | 7.08% | 20.45% | |
49 Neutral | $6.88B | 0.82 | -52.97% | 2.48% | 20.92% | 1.17% | |
47 Neutral | $111.97M | ― | 149.62% | ― | -31.04% | 11.34% | |
46 Neutral | $3.14B | ― | -34.77% | 4.11% | -4.34% | -634.89% | |
46 Neutral | $1.30B | ― | -291.71% | ― | 26.81% | 26.47% |
* Healthcare Sector Average
Performance Comparison
ELUT
Aziyo Biologics
2.60
-0.55
-17.46%
ATEC
Alphatec Holdings
10.25
-3.55
-25.72%
BAX
Baxter International
33.36
-8.22
-19.77%
XRAY
DENTSPLY SIRONA
15.60
-17.02
-52.18%
OFIX
Orthofix
16.28
1.99
13.93%
MDXG
MiMedx Group
7.64
0.03
0.39%
Aziyo Biologics Earnings Call Summary
Earnings Call Date: Mar 6, 2025 | % Change Since: 7.45% | Next Earnings Date: May 7, 2025
Earnings Call Sentiment Positive
The earnings call highlighted the successful launch and adoption of EluPro, significant improvement in gross margins, and progress in reducing litigation liabilities. However, the company faced challenges with a decline in overall revenue, Simpliderm sales, and cardiovascular sales. Despite these challenges, the strong performance and growth prospects of EluPro contribute to a positive outlook.Highlights
Successful EluPro Launch
Elutia Inc. launched EluPro, receiving FDA clearance for use in cardiac implantable electronic devices and neurostimulators. The pilot launch exceeded expectations, demonstrating operational excellence, obtaining hospital and GPO approval, and driving clinical uptake.
Strong Pilot Launch Performance
EluPro accounted for 30% of bio envelope sales during the fourth quarter, with bio envelope sales up 18% for the quarter. EluPro has been adopted in about 100 centers and is actively being ordered, with significant support from physicians.
Gross Margin Improvement
The GAAP gross margin increased to 43% for the quarter from 36% in the prior year. Excluding non-cash amortization, the gross margin was 58% versus 51% in the previous year.
Reduction of Litigation Liabilities
Elutia Inc. reduced its litigation liability related to the fiber cell litigation from over $20 million to $15.9 million, with the number of outstanding cases decreasing from 79 to 43.
Lowlights
Decline in Revenue
The overall revenue for the quarter was $5.5 million, down about 7% year-over-year. The full-year revenue was $24.4 million, down 1% from the prior year.
Simpliderm Sales Decline
Simpliderm sales were $2.3 million for the quarter, down year-over-year. Although full-year sales were up 12%, the fourth quarter experienced a deceleration in growth.
Cardiovascular Sales Decline
Cardiovascular sales were $0.5 million for the quarter, down from $0.6 million in the fourth quarter of 2023.
Company Guidance
During the Elutia Inc. conference call for the fourth quarter and full year 2024 financial results, the company provided guidance with several key metrics. Elutia's flagship product, EluPro, has been FDA cleared for use in cardiac implantable electronic devices and neurostimulators, entering a market with approximately 600,000 pacemakers and internal defibrillators placed annually in the U.S. The company reported $2.7 million in device protection sales for the quarter, an 18% increase compared to the same quarter last year, contributing to a total of $9.9 million for the year, representing a 5% annual growth. The gross margin excluding non-cash amortization expense rose to 58% in the fourth quarter from 51% the previous year. Operational excellence was demonstrated with a gross margin target north of 70%, and Elutia achieved a significant milestone with 67 value analysis committee approvals, surpassing their goal of 25 for the quarter. Looking ahead, Elutia plans to expand production capacity and leverage their partnership with Boston Scientific to further increase market penetration and sales growth.Aziyo Biologics Corporate Events
Private Placements and FinancingBusiness Operations and Strategy
Aziyo Biologics Announces Strategic Financial Offering
Neutral
Feb 4, 2025
On February 3, 2025, Elutia Inc. announced a registered direct offering, selling 5,520,000 shares of Class A common stock and 480,000 prefunded warrants, aimed at raising approximately $15.0 million before expenses. The offering, which closed on February 4, 2025, is intended to provide working capital and support general corporate purposes, reflecting Elutia’s strategic financial planning. The company agreed to a lock-up period with its directors and officers, restricting the sale or transfer of securities for 90 days post-closing, and agreed with the Placement Agent to limit issuance of new shares during this period, indicating a focus on stabilizing its share price and market position.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.