Celularity Inc
For the period ended Dec 31, 2025. Filed Apr 30, 2026.
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FY2025 · Filed Apr 30, 2026
CELU$0.71-6.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(In thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flow from operating activities: | ||
| Net loss | $(91,716) | $(57,892) |
| Adjustments to reconcile net loss to net cash used in operations: | ||
| Adjustments to reconcile net loss to net cash used in operations: | ||
| Depreciation and amortization | 7,295 | 7,922 |
| Non cash lease expense | 110 | 160 |
| Gain on amortization of licensing obligation | (1,911) | — |
| Provision for credit losses | 1,353 | 457 |
| Change in fair value of warrant liabilities | 3,318 | (398) |
| Change in fair value of derivative liability | (65) | — |
| Inventory reserve for obsolescence | (102) | (186) |
| Inventory impairment | 4,335 | 466 |
| Impairment of preferred stock investment | 2,890 | — |
| Loss on issuance of common stock to Yorkville in connection with the Side Letter | 382 | — |
| Loss on issuance of common stock in connection with the settlement of debt | 73 | — |
| Issuance of warrants for Strategic Advisory Agreement | 1,259 | — |
| Issuance of common stock due to Strategic Advisory Agreement | 108 | |
| Loss on issuance of convertible note with warrants | 2,335 | — |
| Issuance of warrants to preferred stockholders in consideration of forbearance agreement | 49 | — |
| Gain on forgiveness of interest | (991) | — |
| Share-based compensation expense | 10,378 | 11,569 |
| Director fees paid with RSU’s | 264 | — |
| Issuance of common stock to Palantir as consideration for settlement agreement | — | 175 |
| Issuance of common stock to Yorkville for debt extension and SEPA commitment fee | — | 317 |
| Issuance of common stock for consulting expense | 705 | 158 |
| Change in fair value of contingent stock consideration | — | (193) |
| Loss on extinguishment of debt | 6,356 | 3,908 |
| Change in fair value of debt | 1,809 | 492 |
| Non cash interest expense | 4,915 | 4,144 |
| Other, net | — | 300 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 7,551 | (3,968) |
| Inventory | 10,246 | 6,284 |
| Prepaid expenses and other assets | (40) | 905 |
| Accounts payable | 3,126 | 9,239 |
| Accrued expenses and other liabilities | 13,452 | 12,634 |
| Accrued R&D software | — | (3,500) |
| Lease liabilities | 350 | 371 |
| Deferred income tax liabilities | 3 | — |
| Deferred revenue | (1,091) | 235 |
| Net cash used in operating activities | (13,254) | (6,401) |
| Cash flow from investing activities: | ||
| Capital expenditures | — | (161) |
| Rebound asset acquisition | — | (1,500) |
| Proceeds from Sanuwave convertible note receivable | — | 2,175 |
| Net cash provided by investing activities | — | 514 |
| Cash flow from financing activities: | ||
| Transaction costs related to the issuance of promissory notes with warrants | (40) | — |
| Proceeds from Issuance of promissory notes with warrants | 10,000 | — |
| Proceeds from warrants and short-term debt - related parties | — | 15,000 |
| Proceeds from issuance of short-term debt - unaffiliated | — | 3,622 |
| Repayment of short-term debt - unaffiliated | — | (17,374) |
| Payment of SEPA commitment fee | — | (25) |
| Proceeds from the sale of common stock in June 2025 PIPE | 1,035 | — |
| Proceeds from the sale of common stock and warrants in July 2025 PIPE | 2,000 | — |
| Proceeds from related party note with KTL Warrant | 6,812 | — |
| Proceeds from the exercise of stock options | 108 | 58 |
| Cash proceeds from merchant cash advance | 3,286 | — |
| Repayment of merchant cash advance | (2,588) | — |
| Proceeds from the exercise of warrants by Dragasac | 2,460 | — |
| Repayment of short-term debt - related party | (121) | (146) |
| Proceeds from issuance of preferred stock with warrants in PIPE Offering | 2,000 | 6,000 |
| Transaction costs from issuing of preferred stock with warrants in PIPE Offering | (210) | — |
| Tax withholding on vesting of restricted stock units | (193) | (434) |
| Repayment of related party notes | (5,900) | — |
| Net cash provided by financing activities | 18,649 | 6,701 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 5,395 | 814 |
| Cash, cash equivalents and restricted cash at beginning of year | 10,977 | 10,163 |
| Cash, cash equivalents and restricted cash at end of year | $16,372 | $10,977 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $2,502 | $144 |
| Cash paid for income taxes | $52 | $— |
| Supplemental non-cash investing and financing activities: | ||
| Residual fair value of warrants issued with promissory notes | $336 | $— |
| Reclass of redemption value of preferred shares from equity to liability | $300 | $— |
| Conversion of unsecured senior convertible note | $922 | $— |
| Conversion of Yorkville convertible note | $3,469 | $— |
| Common stock issued for short-term debt conversion | $— | $1,700 |
| Exchange of IP assets for license obligation | $35,723 | $— |
| Preferred stock received for product purchase credits | $2,890 | $— |
| Property and equipment included in accounts payable and accrued expenses | $— | $(87) |
| Reclassification of RWI Bridge warrants from liability classified to equity classified | $8,902 | $— |
| Reclassification of November 2024 Purchaser and Placement Agent warrants from liability classified to equity classified | $501 | $— |
| Reclassification of KTL Warrants from liability classified to equity classified | $9,186 | $— |
| Issuance of RWI warrants and extinguishment of promise to issue warrants liability | $1,340 | $— |
| Deemed dividend relating to inducement of Dragasac warrants | $64 | $— |
| Settlement of contingent stock consideration liability | $27 | $— |
| Paid-in kind preferred stock dividends | $20 | $— |
| Fair value of bifurcated derivative liability associated with Preferred Stock issuance | $157 | $— |
| Modification of C.V. Starr warrants in connection with forbearance | $— | $51 |
| Issuance of RWI warrants in connection with forbearance | $— | $1,162 |
| Inventory acquired in connection with Rebound asset acquisition | $— | $2,150 |
| Reclassification of warrants from liability classified to equity classified | $— | $2,970 |
| Assumption of short-term debt - unaffiliated by related party | $— | $2,333 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.