Financial health
- The company holds more cash ($50M) than total debt ($35M).
- Operating income covered interest expense -9.6× in the latest year.
- The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
HUMA Financials Humacyte, Inc.
6 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $2M | -$41M | -376.1% | -5306.0% | -$106M | $35M | $50M |
| 2024 | $0 | -$149M | — | — | -$100M | $0 | $45M |
| 2023 | — | -$111M | — | — | -$76M | — | $80M |
| 2022 | — | -$12M | — | — | -$72M | — | $150M |
| 2021 | — | -$26M | — | — | -$81M | $30M | $218M |
| 2020 | — | -$67M | — | — | -$56M | — | $40M |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $495000 | -$18M | -311.7% | -5845.5% | -$25M | $36M | $49M |
| Dec '25 | $467000 | -$25M | -1844.8% | -6603.0% | -$26M | $35M | $50M |
| Sep '25 | $753000 | -$18M | 65.5% | -3239.0% | -$24M | — | $19M |
| Jun '25 | $301000 | -$38M | 29.2% | -9876.1% | -$27M | — | $38M |
| Mar '25 | $517000 | $39M | 71.6% | -4484.3% | -$29M | — | $63M |
| Dec '24 | $0 | -$21M | — | — | -$27M | $0 | $45M |
| Sep '24 | $0 | -$39M | — | — | -$24M | — | $21M |
| Jun '24 | $0 | -$57M | — | — | -$21M | — | $94M |
| Mar '24 | $0 | -$32M | — | — | -$28M | — | $116M |
| Dec '23 | — | -$25M | — | — | -$19M | — | $80M |
| Sep '23 | — | -$26M | — | — | -$14M | — | $100M |
| Jun '23 | — | -$23M | — | — | -$23M | — | $115M |
| Mar '23 | — | -$37M | — | — | -$20M | — | $130M |
| Dec '22 | — | -$4M | — | — | -$20M | — | $150M |
| Sep '22 | — | -$25M | — | — | -$17M | — | $164M |
| Jun '22 | — | $37M | — | — | -$17M | $30M | $181M |
| Mar '22 | — | -$20M | — | — | -$19M | $30M | $198M |
| Dec '21 | — | $43M | — | — | -$21M | $30M | $218M |
| Sep '21 | — | -$32M | — | — | -$31M | $20M | $240M |
| Jun '21 | — | -$17M | — | — | -$15M | — | $383400 |
Valuation over time
How the market has priced HUMA against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-sales ratio has fallen from 104.6× (Dec '25) to 67.5× (Jun '26).
P/S
Frequently asked questions
Is HUMA growing its revenue and profit?
See the revenue and net-income charts above for Humacyte, Inc.'s multi-year trend.
How much debt does HUMA have?
As of FY2025, Humacyte, Inc. reported $35M of total debt against $50M of cash; operating income covered interest expense -9.6×.
What is HUMA's profit margin?
In FY2025, gross margin was -376.1%, operating margin -5306.0%, and net margin -2003.6%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.