HUMAW
HUMAW
Humacyte, Inc.Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q4-2025 | $467K ▼ | $20.43M ▼ | $-24.8M ▼ | -5.31K% ▼ | $-0.15 ▼ | $-97.78M ▼ |
| Q3-2025 | $753K ▲ | $24.88M ▼ | $-17.51M ▲ | -2.33K% ▲ | $-0.11 ▲ | $-13.03M ▲ |
| Q2-2025 | $301K ▼ | $27.95M ▲ | $-37.66M ▼ | -12.51K% ▼ | $-0.24 ▼ | $-33.25M ▼ |
| Q1-2025 | $517K ▼ | $21.72M ▼ | $39.14M ▲ | 7.57K% ▲ | $0.28 ▲ | $43.97M ▲ |
| Q4-2024 | $7.23M | $31.7M | $-20.94M | -289.71% | $-0.16 | $-16.62M |
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q4-2025 | $50.5M ▲ | $116.37M ▲ | $113.26M ▲ | $3.11M ▲ |
| Q3-2025 | $19.49M ▼ | $91.51M ▼ | $96.26M ▼ | $-4.75M ▼ |
| Q2-2025 | $38.03M ▼ | $138.79M ▼ | $134.74M ▲ | $4.05M ▼ |
| Q1-2025 | $62.85M ▲ | $162.55M ▲ | $126.51M ▼ | $36.04M ▲ |
| Q4-2024 | $44.94M | $137.87M | $190.54M | $-52.67M |
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2025 | $-24.8M ▼ | $-26.12M ▼ | $-39K ▲ | $57.17M ▲ | $31.01M ▲ | $-26.16M ▼ |
| Q3-2025 | $-17.51M ▲ | $-23.9M ▲ | $-49K ▲ | $-44.59M ▼ | $-68.54M ▼ | $-23.95M ▲ |
| Q2-2025 | $-37.66M ▼ | $-26.41M ▲ | $-568K ▼ | $2.17M ▼ | $-24.96M ▼ | $-26.98M ▲ |
| Q1-2025 | $39.14M ▲ | $-28.6M ▼ | $-228K ▼ | $46.74M ▼ | $17.91M ▼ | $-28.83M ▼ |
| Q4-2024 | $-20.94M | $-26.58M | $-63K | $51.01M | $24.37M | $-26.64M |
Q3 2025 Earnings Call Summary
Read Call Summary5-Year Trend Analysis
A comprehensive look at Humacyte, Inc.'s financial evolution and strategic trajectory over the past five years.
Humacyte’s key strengths are its differentiated regenerative medicine platform, early regulatory approval and special designations in multiple indications, and a deep, versatile pipeline that targets several large unmet medical needs. The company has supportive relationships with institutions such as the U.S. Department of Defense, a relatively clean asset base, and currently adequate short‑term liquidity to pursue its development plans. Scientifically and strategically, it is positioned at the forefront of off‑the‑shelf bioengineered tissues.
On the risk side, the financial profile is weak: minimal revenue, large and recurring operating losses, heavy cash burn, high leverage relative to equity, and a large accumulated deficit. Commercial execution risk is substantial, as clinical success does not automatically translate into broad adoption, favorable reimbursement, or strong pricing. Manufacturing scale‑up, competitive responses from larger players, regulatory or clinical setbacks, and potential difficulty raising new capital in the future all represent material uncertainties.
Looking ahead, Humacyte’s trajectory is likely to remain volatile and highly dependent on milestones. In the near term, financial statements will probably continue to show significant losses and negative cash flow as the company ramps commercialization and advances its pipeline. Over the longer term, the outlook hinges on the real‑world performance and uptake of Symvess and follow‑on products, the success of additional regulatory filings, and continued access to funding. The company sits at an inflection point where strong scientific promise must now be converted into sustainable commercial and financial performance, with considerable upside and downside possibilities.
About Humacyte, Inc.
https://humacyte.comHumacyte, Inc. engages in the development and manufacture of off-the-shelf, implantable, and bioengineered human tissues for the treatment of diseases and conditions across a range of anatomic locations in multiple therapeutic areas.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q4-2025 | $467K ▼ | $20.43M ▼ | $-24.8M ▼ | -5.31K% ▼ | $-0.15 ▼ | $-97.78M ▼ |
| Q3-2025 | $753K ▲ | $24.88M ▼ | $-17.51M ▲ | -2.33K% ▲ | $-0.11 ▲ | $-13.03M ▲ |
| Q2-2025 | $301K ▼ | $27.95M ▲ | $-37.66M ▼ | -12.51K% ▼ | $-0.24 ▼ | $-33.25M ▼ |
| Q1-2025 | $517K ▼ | $21.72M ▼ | $39.14M ▲ | 7.57K% ▲ | $0.28 ▲ | $43.97M ▲ |
| Q4-2024 | $7.23M | $31.7M | $-20.94M | -289.71% | $-0.16 | $-16.62M |
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q4-2025 | $50.5M ▲ | $116.37M ▲ | $113.26M ▲ | $3.11M ▲ |
| Q3-2025 | $19.49M ▼ | $91.51M ▼ | $96.26M ▼ | $-4.75M ▼ |
| Q2-2025 | $38.03M ▼ | $138.79M ▼ | $134.74M ▲ | $4.05M ▼ |
| Q1-2025 | $62.85M ▲ | $162.55M ▲ | $126.51M ▼ | $36.04M ▲ |
| Q4-2024 | $44.94M | $137.87M | $190.54M | $-52.67M |
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2025 | $-24.8M ▼ | $-26.12M ▼ | $-39K ▲ | $57.17M ▲ | $31.01M ▲ | $-26.16M ▼ |
| Q3-2025 | $-17.51M ▲ | $-23.9M ▲ | $-49K ▲ | $-44.59M ▼ | $-68.54M ▼ | $-23.95M ▲ |
| Q2-2025 | $-37.66M ▼ | $-26.41M ▲ | $-568K ▼ | $2.17M ▼ | $-24.96M ▼ | $-26.98M ▲ |
| Q1-2025 | $39.14M ▲ | $-28.6M ▼ | $-228K ▼ | $46.74M ▼ | $17.91M ▼ | $-28.83M ▼ |
| Q4-2024 | $-20.94M | $-26.58M | $-63K | $51.01M | $24.37M | $-26.64M |
Q3 2025 Earnings Call Summary
Read Call Summary5-Year Trend Analysis
A comprehensive look at Humacyte, Inc.'s financial evolution and strategic trajectory over the past five years.
Humacyte’s key strengths are its differentiated regenerative medicine platform, early regulatory approval and special designations in multiple indications, and a deep, versatile pipeline that targets several large unmet medical needs. The company has supportive relationships with institutions such as the U.S. Department of Defense, a relatively clean asset base, and currently adequate short‑term liquidity to pursue its development plans. Scientifically and strategically, it is positioned at the forefront of off‑the‑shelf bioengineered tissues.
On the risk side, the financial profile is weak: minimal revenue, large and recurring operating losses, heavy cash burn, high leverage relative to equity, and a large accumulated deficit. Commercial execution risk is substantial, as clinical success does not automatically translate into broad adoption, favorable reimbursement, or strong pricing. Manufacturing scale‑up, competitive responses from larger players, regulatory or clinical setbacks, and potential difficulty raising new capital in the future all represent material uncertainties.
Looking ahead, Humacyte’s trajectory is likely to remain volatile and highly dependent on milestones. In the near term, financial statements will probably continue to show significant losses and negative cash flow as the company ramps commercialization and advances its pipeline. Over the longer term, the outlook hinges on the real‑world performance and uptake of Symvess and follow‑on products, the success of additional regulatory filings, and continued access to funding. The company sits at an inflection point where strong scientific promise must now be converted into sustainable commercial and financial performance, with considerable upside and downside possibilities.

CEO
Laura E. Niklason
Compensation Summary
(Year 2022)
Upcoming Earnings
Ratings Snapshot
Rating : D+

