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Humacyte (HUMA) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · Humacyte (HUMA) Q2 2026 earnings results →
Q2 2026 Revenue up 35% year over year to $406K
Humacyte made $406K in Q2 2026 (+35% Y/Y). Operating margin n/m, net loss $36.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $406K in Q2 2026, up 35% year over year and down 18% from the previous quarter.
Operating costs exceeded revenue by $27.0M, an operating margin of -6649.3%. Total costs fell 9% while revenue rose 35%. The fastest-growing cost line was Cost of revenue (+478%). The quarter ended with a net loss of $36.8M, wider than the previous quarter's $17.6M loss.
Operating cash flow was −$22.1M. Non-cash charges added back $1.3M of depreciation and $2.6M of share-based compensation. Working capital and other items added $10.8M. Capital expenditures of $104K exceeded it, leaving free cash flow of −$22.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 12, 2026 | $406K | +35% | n/m | −$36.8M | −$22.1M |
| Q1 2026 | 10-Q | May 13, 2026 | $495K | -4% | n/m | −$17.6M | −$25.1M |
| Q4 2025 | 10-K | Mar 27, 2026 | $467K | — | n/m | −$24.8M | −$26.1M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $753K | — | n/m | −$17.5M | −$23.9M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $301K | — | n/m | −$37.7M | −$26.4M |
| Q1 2025 | 10-Q | May 13, 2025 | $517K | — | n/m | $39.1M | −$28.6M |
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Humacyte
Humacyte, Inc. (Nasdaq: HUMA) is developing a disruptive biotechnology platform to deliver universally implantable bioengineered human tissues, advanced tissue constructs, and organ systems designed to improve the lives of patients and transform the practice of medicine. The Company develops and manufactures acellular tissues to treat a wide range of diseases, injuries, and chronic conditions. Humacyte’s Biologics License Application for the acellular tissue engineered vessel (ATEV) in the vascular trauma indication was approved by the FDA in December 2024. ATEVs are also currently in late-stage clinical trials targeting other vascular applications, including arteriovenous (AV) access for hemodialysis and peripheral artery disease (PAD).
In its own words, from its 8-K, filed Aug 12, 2026.
Humacyte against its Biological Products, (No Diagnostic Substances) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +35% against the peers' median +29%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HUMA Humacyte | Q2 2026 | $406K | +35% | n/m |
| AMGN Amgen | Q3 2026 | $10.4B | +8% | 35.8% |
| GILD Gilead Sciences | Q3 2026 | $8.3B | +7% | 41.7% |
| BIIB Biogen | Q3 2026 | $2.8B | +11% | -0.3% |
| MRNA Moderna | Q3 2026 | $1.3B | +29% | 9.9% |
| NBIX Neurocrine Biosciences | Q3 2026 | $1.1B | +41% | 29.5% |
| EXEL Exelixis | Q3 2026 | $659M | +10% | 40.8% |
| HALO Halozyme Therapeutics | Q3 2026 | $493M | +39% | 59.8% |
| MGTX MeiraGTx Holdings | Q2 2026 | $321M | 87× | 76.0% |
Source: Humacyte 10-Q on SEC EDGAR · CIK 1818382 · Biological Products, (No Diagnostic Substances)
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results