CELU

MKT CAP:$26M

Celularity Inc.

Market Cap

$26M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$1.12-$0.09 (-7.44%)

Apr 23, 2026

Company Details

Celularity Inc., a clinical-stage biotechnology company, develops off-the-shelf placental-derived allogeneic cell therapies for the treatment of cancer, immune, and infectious diseases. It operates through three segments: Cell Therapy, Dege...

CEO

Robert Joseph Hariri

IPO Date

Aug 8, 2019

Website

www.celularity.com

Key Metrics TTM

Revenue

$41M

-15.8% YoY

Net Income

-$81M

EPS (Diluted)

-$3.34

Free Cash Flow

-$7M

Revenue / Share

$1.54

Gross Margin

55.3%

Operating Margin

-119.6%

Net Margin

-198.7%

FCF Margin

-16.3%

P/S

0.6x

P/E

—

Earnings Reports

Q3 2025

Nov 14, 2025

$5M-43.2%EPS -$0.88

Q2 2025

Aug 29, 2025

$6M-52.6%EPS -$1.02

Q1 2025

Aug 29, 2025

$11M-22.2%EPS -$0.84

FY 2024

May 8, 2025

$54M+138.1%EPS -$2.64

Q4 2024

May 8, 2025

$18M+49.7%EPS -$0.59

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$5M	$196.0K	-$15M
Q1 22	$6M	$2M	-$42M
Q2 22	$4M	$597.0K	$4M
Q3 22	$4M	-$3M	-$6M
Q4 22	$4M	-$1M	$17M
Q1 23	$4M	$2M	-$64M
Q2 23	$3M	$2M	-$42M
Q3 23	$4M	$184.0K	-$99M
Q4 23	$12M	$3M	$13M
Q1 24	$15M	$13M	-$7M
Q2 24	$12M	$10M	-$10M
Q3 24	$9M	$5M	-$12M
Q4 24	$18M	$11M	-$9M
Q1 25	$11M	$8M	-$10M
Q2 25	$6M	$494.0K	-$16M
Q3 25	$5M	$3M	-$13M

Valuation

Quarter	P/S	P/E
Q4 21	31.0x	—
Q1 22	41.1x	—
Q2 22	20.1x	16.4x
Q3 22	18.7x	—
Q4 22	8.0x	10.2x
Q1 23	8.2x	10.0x
Q2 23	6.5x	—
Q3 23	2.7x	—
Q4 23	2.4x	—
Q1 24	3.4x	—
Q2 24	1.6x	—
Q3 24	1.4x	—
Q4 24	0.8x	—
Q1 25	0.8x	—
Q2 25	1.0x	—
Q3 25	1.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	-$32M	-$34M
Q1 22	-$34M	-$36M
Q2 22	-$36M	-$38M
Q3 22	-$38M	-$39M
Q4 22	-$30M	-$30M
Q1 23	-$15M	-$18M
Q2 23	-$11M	-$11M
Q3 23	-$8M	-$9M
Q4 23	-$4M	-$5M
Q1 24	-$4M	-$4M
Q2 24	-$3M	-$3M
Q3 24	-$144.0K	-$179.0K
Q4 24	$2M	$2M
Q1 25	-$3M	-$3M
Q2 25	-$999.0K	-$999.0K
Q3 25	-$4M	-$4M

Capital Expenditures

Quarter	CapEx
Q4 21	$2M
Q1 22	$1M
Q2 22	$1M
Q3 22	$2M
Q4 22	$779.0K
Q1 23	$3M
Q2 23	$31.0K
Q3 23	$228.0K
Q4 23	$580.0K
Q1 24	$39.0K
Q2 24	$31.0K
Q3 24	$35.0K
Q4 24	$56.0K
Q1 25	$0
Q2 25	$0
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+49.7%	+353.5%
Q1 22	+123.1%	+1.0%
Q2 22	+18.1%	-100.6%
Q3 22	-61.1%	+3643.8%
Q4 22	-15.0%	-167.4%
Q1 23	-33.7%	+42.6%
Q2 23	-22.2%	+11482.0%
Q3 23	-8.4%	+953.5%
Q4 23	+193.3%	+91.0%
Q1 24	+273.1%	-67.5%
Q2 24	+312.2%	-50.9%
Q3 24	+145.5%	-79.8%
Q4 24	+49.7%	+2378.6%
Q1 25	-22.2%	-0.7%
Q2 25	-52.6%	-3.1%
Q3 25	-43.2%	-12.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$2M	39.8%
Q1 22	$2M	40.8%
Q2 22	$5M	119.9%
Q3 22	$5M	109.3%
Q4 22	$4M	106.2%
Q1 23	$4M	101.3%
Q2 23	$4M	131.2%
Q3 23	$4M	95.0%
Q4 23	$4M	29.5%
Q1 24	$3M	20.2%
Q2 24	$3M	24.7%
Q3 24	$3M	28.7%
Q4 24	$3M	17.1%
Q1 25	$3M	23.1%
Q2 25	$2M	42.7%
Q3 25	$2M	38.6%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 21	$25M	—	—	$13M
Q1 22	$22M	—	—	$16M
Q2 22	$25M	—	—	$16M
Q3 22	$20M	—	—	$15M
Q4 22	$11M	$19M	$163.0K	—
Q1 23	$17M	—	—	$14M
Q2 23	$9M	—	—	$13M
Q3 23	$5M	—	—	$11M
Q4 23	$108M	$13M	$44.0K	—
Q1 24	$6M	—	—	$14M
Q2 24	$4M	—	—	$16M
Q3 24	$4M	—	—	$13M
Q4 24	$4M	$16M	$23.0K	—
Q1 25	$4M	—	—	$14M
Q2 25	$3M	—	—	$13M
Q3 25	$5M	—	—	$9M

Revenue Segments

Quarter	License Royalty And Other	Product	Service	License Royalty and Other
Q4 21	$2M	$1M	$1M	—
Q1 22	$4M	$651.0K	$1M	—
Q2 22	$1M	$1M	$1M	—
Q4 22	$2M	$829.0K	$1M	—
Q1 23	$2M	$1M	$1M	—
Q2 23	$754.0K	$906.0K	$1M	—
Q3 23	$3M	$557.0K	$398.0K	—
Q1 24	$551.0K	$13M	$1M	—
Q2 24	$870.0K	$10M	$1M	—
Q3 24	$5M	$3M	$1M	—
Q1 25	—	$9M	$1M	$1M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$37M	$0	$37M
Q1 22	$48M	$0	$48M
Q2 22	$38M	$0	$38M
Q3 22	$43M	$0	$43M
Q4 22	$14M	$0	$14M
Q1 23	$9M	$0	$9M
Q2 23	$3M	$0	$3M
Q3 23	$273.0K	$0	$273.0K
Q4 23	$227.0K	$0	$227.0K
Q1 24	$2M	$0	$2M
Q2 24	$467.0K	$0	$467.0K
Q3 24	$133.0K	$0	$133.0K
Q4 24	$738.0K	$0	$738.0K
Q1 25	$293.0K	$0	$293.0K
Q2 25	$863.0K	$0	$863.0K
Q3 25	$120.0K	$0	$120.0K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	12M	+0.4%	+573.4%
Q1 22	13M	+5.1%	+443.6%
Q2 22	15M	+16.0%	+530.7%
Q3 22	15M	-0.5%	+21.8%
Q4 22	15M	-1.1%	+20.0%
Q1 23	16M	+4.3%	+19.1%
Q2 23	18M	+13.6%	+16.7%
Q3 23	19M	+6.7%	+25.1%
Q4 23	19M	+2.9%	+30.1%
Q1 24	21M	+10.6%	+38.0%
Q2 24	22M	+1.9%	+23.7%
Q3 24	22M	+0.6%	+16.7%
Q4 24	22M	+1.7%	+15.3%
Q1 25	24M	+5.3%	+9.7%
Q2 25	24M	+2.1%	+9.9%
Q3 25	26M	+9.7%	+19.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$21.6K	225
Q1 22	$26.4K	225
Q2 22	$16.8K	225
Q3 22	$18.4K	225
Q4 22	$18.4K	225
Q1 23	$17.5K	225
Q2 23	$13.1K	225
Q3 23	$16.8K	225
Q4 23	$100.9K	120
Q1 24	$122.3K	120
Q2 24	$100.9K	120
Q3 24	$77.5K	120
Q4 24	$147.4K	123
Q1 25	$92.9K	123
Q2 25	$46.6K	123
Q3 25	$43.0K	123

Revenue / Employee