Revenue: As of FY2025 Q4, the actual value is USD 3.3 M, beating the estimate of USD 3.1 M.<h3>Preliminary Fourth Quarter 2025 Financial Results</h3><ul><li>Preliminary Net Sales: For the fourth quarter of 2025, preliminary net sales were approximately $3.3 million, representing a 16% increase compared to the fourth quarter of 2024. Net sales for both the fourth quarters of 2025 and 2024 exclude contributions from the divested BioEnvelope business.</li><li>Debt Repayment: During the fourth quarter, Elutia Inc. repaid the full $26.9 million outstanding principal, accrued interest, and accrued exit fees associated with its loan from SWK Holdings, significantly reducing interest expense.</li><li>Cash Position: As of December 31, 2025, cash on hand was approximately $36.3 million. An additional $8.0 million related to the BioEnvelope divestiture is being held in escrow and is expected to be released during 2026, subject to adjustment for indemnification claims, if any.</li><li>Capital Structure: As of December 31, 2025, the Company had 42.8 million shares of Class A common stock outstanding, 4.5 million pre-funded warrants to purchase shares of Class A common stock, and no Class B common stock outstanding.</li></ul><h3>Outlook / Guidance</h3>Elutia Inc. is advancing the development of its NXT-41 biomatrix platform and remains on track for planned regulatory milestones. The company anticipates FDA clearance for NXT-41 in the second half of 2026 and for NXT-41x in the first half of 2027. The company believes its current capital resources are sufficient to develop and commercialize NXT-41x.

Elutia | 8-K: FY2025 Q4 Revenue Beats Estimate at USD 3.3 M