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Jun 30
Humacyte Q2 2025 Earnings Report
Humacyte reported Q2 2025 results with $0.3M in revenue and continued momentum in the commercial launch of Symvess.
Key Takeaways
Humacyte generated $301K in revenue in Q2 2025, primarily from Symvess sales and a research collaboration, while net loss narrowed to $37.7M from $56.7M a year earlier. The company expanded VAC approvals to 82 civilian hospitals and gained ECAT listing for military and VA facilities, setting the stage for stronger sales in the second half of the year.
Q2 2025 revenue reached $301K, with $100K from Symvess product sales and $201K from a research collaboration.
Net loss was $37.7M, significantly improved from $56.7M in Q2 2024.
82 civilian hospitals and approximately 190 military/VA facilities are now eligible to purchase Symvess.
July product sales alone exceeded total first-half 2025 sales.
Humacyte
Humacyte
Humacyte Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comContract Revenue
CapyFin.com Forward Guidance
Humacyte expects continued momentum in Symvess adoption, with growing hospital approvals and military/VA facility access driving sales, while cost reduction measures extend cash runway.
Positive Outlook
- Rapid expansion of VAC approvals to 82 hospitals with more in review.
- ECAT approval opens access to military and VA hospitals.
- Strong July sales indicating acceleration in adoption.
- V007 Phase 3 data supports potential dialysis indication expansion.
- Cost savings plan expected to deliver over $50M in total savings by 2026.
Challenges Ahead
- Net losses continue despite revenue growth.
- Symvess sales still in early commercialization phase.
- R&D expenses remain high due to ongoing trials.
- Dependence on regulatory approvals for new indications.
- Potential impact from reputational challenges during the quarter.