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Celularity (CELU) investor relations material
Celularity Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary14 Nov, 2025
Executive summary
Net revenues for Q3 2025 were $5.3M, down 43% year-over-year, mainly due to lower product sales and license revenue.
Operating loss for Q3 2025 was $12.9M, up 12% from Q3 2024, driven by higher R&D and other expenses.
The company continues to focus on placental-derived biomaterial products and biobanking, with no approved cell therapy products or related revenue.
Significant doubt exists about the company's ability to continue as a going concern due to recurring losses and limited cash.
Financial highlights
Q3 2025 net loss was $23.1M, compared to $16.1M in Q3 2024; nine-month net loss was $67.4M, up from $44.6M year-over-year.
Q3 2025 product sales were $0.9M, down 74% year-over-year; nine-month product sales were $12.3M, down 53%.
Cost of revenues for Q3 2025 was $3.9M, flat year-over-year, but included a $1.4M write-off of bulk material.
R&D expenses for Q3 2025 were $4.6M, up 17% year-over-year; nine-month R&D was $11.7M, down 14%.
Selling, general and administrative expenses for Q3 2025 were $9.3M, down 26% year-over-year.
Total assets as of September 30, 2025 were $114.2M; accumulated deficit reached $967.1M.
Outlook and guidance
The company expects continued operating losses and negative cash flow, with no near-term revenue from cell therapy products.
Additional capital is required to fund operations beyond the next 12 months; failure to secure funding may force strategic alternatives or bankruptcy.
Plans to submit a 510(k) for Celularity Tendon Wrap in Q4 2025 and advance other biomaterial products in 2026–2027.
Impact of Celeniv IP sale and license on liquidity?
Update on contract manufacturing revenue strategy?
Progress on internal control material weaknesses?
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Next Celularity earnings date
Q4 202531 Mar, 2026
Next Celularity earnings date
Q4 202531 Mar, 2026
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Frequently asked questions
Celularity Inc. is a biotechnology company focused on developing off-the-shelf, placental-derived allogeneic cell therapies for treating cancer, immune, and infectious diseases. The company's core therapeutic products include genetically modified and unmodified natural killer (NK) cells, CAR-T cells, and mesenchymal-like adherent stromal cells. Additionally, Celularity produces placental-derived biomaterials used in various therapeutic applications. It operates through three main segments: Cell Therapy, Degenerative Disease, and BioBanking. The company is headquartered in Florham Park, New Jersey, and its shares are listed on NASDAQ.
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