Humacyte, Inc. (HUMA)

Humacyte, Inc., together with its subsidiaries, engages in the development and manufacture of off-the-shelf, implantable, and bioengineered human tissues for the treatment of diseases and conditions across a range of anatomic locations in multiple therapeutic areas. The company using its proprietary and scientific technology platform to engineer and manufacture human acellular vessels (HAVs) to be implanted into patient without inducing a foreign body response or leading to immune rejection. It is developing a portfolio of HAVs, which would target the vascular repair, reconstruction, and replacement market, including vascular trauma; arteriovenous access for hemodialysis; peripheral arterial disease; pediatric heart surgery; and coronary artery bypass grafting, as well as for the delivery of cellular therapy, including pancreatic islet cell transplantation to treat Type 1 diabetes. Humacyte, Inc. was founded in 2004 and is headquartered in Durham, North Carolina.

Symbol: HUMA
Exchange: Nasdaq
Sector: Healthcare
Industry: Biotechnology
Market cap: $158.34M
52 week range: 0.53 - 2.55

Valuation

Share price: $0.57 (close of 2026-09-23)
P/E (TTM): -1.04x
Price to book: 5.07x
Price to free cash flow: -1.62x
Enterprise value: $144.62M
Book value per share: $0.11

Price performance

Period	Change
1 day	-3.39%
5 days	+3.64%
1 month	-10.94%
3 months	-18.57%
6 months	-32.94%
Year to date	-40.62%
1 year	-66.47%
3 years	-80.21%
5 years	-95.46%
All time	-94.11%

Profitability and growth

Return on equity: -1313.38%
Return on invested capital: -619.41%
Return on assets: -35.09%
Return on capital employed: -110.35%
Gross margin: -376.05%
Net margin: -2003.58%
EBITDA margin: -5044.60%
Revenue growth: 0.00%
Net income growth: 72.54%
Free cash flow growth: -6.25%

Cash flow and balance sheet

Free cash flow yield (TTM): -61.61%
Current ratio: 6.21x
Net debt to EBITDA: 0.17x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $2.04M
Cost of revenue: $9.70M
Gross profit: $-7.66M
EBITDA: $-102.81M
Net income: $-40.83M
Earnings per share: $-0.26
Research and development: $69.30M
Shares outstanding: 158.16M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$2.04M	$-7.66M	$-40.83M	$-0.26
2024-12-31	-	-	$-148.70M	$-1.26
2023-12-31	-	-	$-110.78M	$-1.07
2022-12-31	-	-	$-11.96M	$-0.12
2021-12-31	-	-	$-26.48M	$-0.66
2020-12-31	-	-	$-66.52M	$-11.54

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	-376.05%	-2003.58%	-1313.38%	-619.41%
2024-12-31	-	-	282.33%	-
2023-12-31	-	-	-817.78%	-
2022-12-31	-	-	-10.23%	-560.34%
2021-12-31	-	-	-21.67%	-
2020-12-31	-	-	18.99%	-