Humacyte, Inc.
For the period ended Mar 31, 2025. Filed May 13, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 13, 2025
HUMA$0.59+29.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (unaudited)
Condensed Consolidated Statements of Cash Flows
(in thousands)
| For the Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net income (loss) | $39,139 | $(31,896) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation expense | 1,308 | 1,274 |
| Stock-based compensation expense | 2,487 | 1,454 |
| Change in fair value of Contingent Earnout Liability | (49,731) | 4,593 |
| Non-cash interest expense | 2,152 | 1,418 |
| Change in fair value of derivatives | (14,930) | (60) |
| Amortization expense | 524 | 517 |
| Non-cash operating lease costs | 14 | 13 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (308) | — |
| Inventory | (8,020) | — |
| Prepaid expenses and other current assets | 392 | 409 |
| Accounts payable | 653 | (2,949) |
| Accrued expenses | (2,267) | (2,107) |
| Operating lease obligation | (14) | (13) |
| Net cash used in operating activities | (28,601) | (27,347) |
| Cash flows from investing activities | ||
| Purchase of property and equipment | (228) | (391) |
| Net cash used in investing activities | (228) | (391) |
| Cash flows from financing activities | ||
| Proceeds from issuance of stock in public offering, net of underwriting fees | 47,000 | 43,396 |
| Proceeds from issuance of stock under ATM Facility, net of issuance costs | 370 | — |
| Proceeds from the exercise of stock options | 56 | 2 |
| Payments of finance lease principal | (687) | (603) |
| Proceeds from Revenue Interest Purchase Agreement | — | 20,000 |
| Net cash provided by financing activities | 46,739 | 62,795 |
| Net increase in cash, cash equivalents and restricted cash | 17,910 | 35,057 |
| Cash, cash equivalents and restricted cash at the beginning of the period | 95,290 | 80,801 |
| Cash, cash equivalents and restricted cash at the end of the period | $113,200 | $115,858 |
| Supplemental disclosure of noncash activities: | ||
| Purchase of property and equipment in accounts payable and accrued expenses | $545 | $29 |
| Unpaid issuance costs in connection with public offering | $340 | $350 |
| Unpaid transaction costs related to revenue interest purchase agreement | $— | $500 |
| Debt discount from embedded contingent derivative liability | $— | $1,552 |
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