Elutia Reports $3.1 Million in Q1 2026 Net Sales, Up 6% Year-over-Year

Elutia released financial results for the first quarter ended March 31, 2026 on May 14, 2026 and held its Q1 2026 earnings conference call the same day. 1 million, a 6 percent increase year-over-year. GAAP gross margin reached 58 percent, up from 47 percent in the prior-year period.

The company brought its automated manufacturing platform online during Q1 2026. Randy Mills, Chief Executive Officer of Elutia, said the platform supports a target gross margin in excess of 80 percent at scale. 5 million in cash and escrow.

Elutia is engaged in a process to divest Simpliderm and received inbound acquisition interest in its cardiovascular product line. The company sold its first-generation drug-eluting product Lupro to Boston Scientific for $88 million in October 2025. Lupro was the first FDA-cleared antibiotic-eluting bioenvelope.

Randy Mills laid out the commercial opportunity for the company's next products in breast reconstruction. Approximately 168000 breast reconstruction procedures were performed in the United States in 2025. Biologic mesh is utilized in more than 85 percent of implant-based breast reconstructions.

Biologics account for roughly 65 percent of the total procedural spend in breast reconstruction. Human biologic mesh sells for between $7500 and $9500 per breast. S. 5 billion.

Postoperative infection rates after mastectomy are 15 to 20 percent. One in three women suffer a serious complication after breast reconstruction. Mills said the company is increasingly becoming a pure play drug-eluting biomatrix company focused on one of the largest and most underserved opportunities in reconstructive surgery.

“We continued to sharpen our strategic focus, we advanced our NXT 41 regulatory program, we brought our automated manufacturing platform online and we further strengthened our confidence in the commercial opportunity ahead of us in breast reconstruction." — Randy Mills, Chief Executive Officer of Elutia. Elutia anticipates FDA clearance for NXT41 in Q4 2026. It anticipates FDA clearance for NXT41X in the first half of 2027. Management expressed increased confidence in FDA interactions and emphasized the commercial readiness of the NXT41X platform. Bernadine Cherniak served as moderator for Elutia's Q1 2026 earnings call. She stated that the earnings call transcript is accurate only as of May 14, 2026. Elutia refers to Gross Margin excluding Intangible Asset Amortization as a non-GAAP financial measure. The company's Annual Report on Form 10-K is for the year ended December 31, 2025. Benzinga reported that the transcript and financial results were released together on May 14, 2026.”