Updated
HumacyteHUMA · Healthcare
$0.45+13.13%
Market cap$124M
IndustryBiotechnology
Humacyte (HUMA) Financial statements
Humacyte reported revenue of $2M in fiscal 2025.
Key figures
Net income was -$41M. Free cash flow was -$106M. The diluted share count rose 2643% over the period (dilution).
- Revenue, FY2025
- $2M
- Net income
- -$41M-72.5% on 2024
- Operating margin
- -5306.0%
- Free cash flow
- -$106M+6.3% on 2024
Revenue and free cash flow
Fiscal years, from Humacyte's 10-K filings.
Humacyte revenue and free cash flow
FY2020–FY2025HUMARevenue$2MHUMAFree cash flow-$106M
Financial statements
Fiscal 2020–2025.
Humacyte income statement, fiscal 2020–2025
| USD | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | $0 | $2M |
| Cost of revenue | — | — | — | — | $0 | $10M |
| Gross profit | — | — | — | — | $0 | -$8M |
| Research and development | $54M | $61M | $63M | $77M | $89M | $69M |
| Selling, general and admin | $12M | $21M | $23M | $23M | $26M | $31M |
| Operating income | -$65M | -$81M | -$85M | -$100M | -$114M | -$108M |
| Interest expense | $2M | $4M | $6M | $7M | $9M | $11M |
| Pre-tax income | -$67M | -$26M | -$12M | -$111M | -$149M | -$41M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$67M | -$26M | -$12M | -$111M | -$149M | -$41M |
| EPS (diluted) | -$11.54 | -$0.66 | -$0.12 | -$1.07 | -$1.26 | -$0.26 |
| Diluted shares | 6M | 40M | 103M | 103M | 118M | 158M |
| Gross margin | — | — | — | — | — | -376.1% |
| Operating margin | — | — | — | — | — | -5306.0% |
| Net margin | — | — | — | — | — | -2003.6% |
Humacyte balance sheet, fiscal 2020–2025
| USD | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $40M | $226M | $152M | $80M | $45M | $50M |
| Receivables | $113,000 | $176,000 | $31,000 | $0 | $0 | $441,000 |
| Inventory | — | — | — | — | $0 | $14M |
| Total current assets | $41M | $229M | $154M | $83M | $48M | $68M |
| Property, plant and equipment | $41M | $35M | $30M | $27M | $23M | $19M |
| Total assets | $107M | $287M | $204M | $128M | $138M | $116M |
| Total current liabilities | $11M | $11M | $20M | $18M | $20M | $18M |
| Long-term debt | $822,000 | $30M | $0 | $39M | $63M | $35M |
| Total liabilities | $36M | $164M | $87M | $115M | $191M | $113M |
| Shareholders' equity | -$350M | $122M | $117M | $14M | -$53M | $3M |
| Net debt | -$37M | -$188M | -$150M | -$42M | $18M | -$15M |
Humacyte cash flow, fiscal 2020–2025
| USD | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$56M | -$81M | -$71M | -$73M | -$98M | -$105M |
| Capital spending | $318,000 | $220,000 | $1M | $2M | $2M | $884,000 |
| Free cash flow | -$56M | -$81M | -$72M | -$76M | -$100M | -$106M |
| Stock-based compensation | $5M | $10M | $6M | $7M | $6M | $10M |
| Net borrowing | $3M | $0 | — | — | $0 | -$88M |
| Free cash flow margin | — | — | — | — | — | -5197.5% |
How Humacyte compares
Humacyte's operating margin is higher than 4% of Healthcare companies and 1% of the 2,820 companies with an operating margin figure.
| Higher than | Healthcare | All stocks |
|---|---|---|
| Operating margin | 4% | 1% |
| Net margin | 4% | 1% |
| Gross margin | 0% | 0% |
| Revenue growth | 92% | 97% |
| ROE | 2% | 1% |
Questions about Humacyte
What was Humacyte's revenue in 2025?
$2M in fiscal 2025, from its 10-K filing.
How much free cash flow does Humacyte generate?
-$106M in fiscal 2025 (operating cash flow minus capital spending).
From Humacyte's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.