Humacyte, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $2.0M | $0 | — | — | — |
| Cost of revenue | $9.7M | $0 | — | — | — |
| Research and development | $69.3M | $88.6M | $76.5M | $63.3M | $61.3M |
| Operating expenses | — | $114.4M | $100.0M | $86.1M | $82.5M |
| Operating income | -$108.1M | -$114.4M | -$100.0M | -$84.6M | -$81.2M |
| Interest expense | $11.2M | $9.3M | $6.6M | $6.2M | $4.3M |
| Pretax income | -$40.8M | — | — | — | — |
| Income tax expense | $0 | $0 | $0 | $0 | $0 |
| Net income | -$40.8M | -$148.7M | -$110.8M | -$12.0M | -$26.5M |
| Balance Sheet | |||||
| Cash and equivalents | $50.5M | $44.9M | $80.4M | $149.8M | $217.5M |
| Current assets | $67.8M | $47.9M | $83.3M | $154.2M | $229.3M |
| Total assets | $116.4M | $137.9M | $128.2M | $204.3M | $286.5M |
| Current liabilities | $18.4M | $20.0M | $18.4M | $19.6M | $11.1M |
| Total liabilities | $113.3M | $190.5M | $114.7M | $87.4M | $164.4M |
| Total debt | — | — | — | $30.0M | — |
| Stockholders' equity | $3.1M | -$52.7M | $13.5M | $116.9M | $122.2M |
| Cash Flow Statement | |||||
| Cash from operations | -$105.0M | -$98.1M | -$73.3M | -$71.1M | -$81.2M |
| Depreciation and amortization | $5.3M | $5.1M | $5.7M | $6.2M | $6.2M |
| Stock-based compensation | $9.8M | $6.1M | $6.8M | $6.2M | $10.1M |
| Capital expenditure | $884,000 | $1.6M | $2.3M | $1.0M | $220,000 |
| Free cash flow | -$105.9M | -$99.7M | -$75.6M | -$72.2M | -$81.4M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 222.0M · Free float 80.5%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.