Filing Flows › Elutia (ELUT) › Q3 2025
Elutia (ELUT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
Elutia (ELUT) reported revenue of $3.3M for the third quarter 2025 (Q3 2025), -9% from a year earlier and -47% from the quarter before. Operating margin was -156.7%, net loss $3.9M (116.4% of revenue).
Elutia, Q3 2025: revenue $3.3M (-9% year over year), operating margin -156.7%, net loss $3.9M, operating cash flow −$2.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.3M | -47% | -9% |
| Operating profit | −$5.2M | — | — |
| Net earnings | −$3.9M | — | — |
| Operating cash flow | −$2.9M | — | — |
What changed
Revenue was $3.3M in Q3 2025, down 9% year over year and down 47% from the previous quarter.
Gross margin was 55.8%, up 6.9 points from a year earlier. Operating costs exceeded revenue by $5.2M, an operating margin of -156.7%. Operating expenses fell 36% while revenue fell 9%. The fastest-growing cost line was Research & development (+55%). The quarter ended with a net loss of $3.9M, narrower than the previous quarter's $9.6M loss. Non-operating items added $1.3M, -35% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$2.9M. Non-cash charges added back $728K of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items used $1.7M. Capital expenditures of $630K exceeded it, leaving free cash flow of −$3.5M.
Questions
What was Elutia's revenue in the third quarter 2025?
Elutia (ELUT) reported revenue of $3.3M for the third quarter 2025 (Q3 2025), -9% from a year earlier and -47% from the quarter before.
Was Elutia profitable in the third quarter 2025?
Operating loss was $5.2M (-156.7% of revenue) and net loss $3.9M.
Source: Elutia 10-Q on SEC EDGAR.