Humacyte Reports $301,000 Revenue in Q2 2025, Significant Year-Over-Year Growth

Humacyte, Inc. reported its financial results for the second quarter of 2025, revealing a total revenue of $301,000, a significant increase from zero revenue in the same period last year. This revenue comprised $100,000 from product sales of its FDA-approved product, Symvess, and $201,000 from contract revenue. The company’s operating expenses for the quarter were $30.0 million, slightly higher than the $29.5 million reported in the prior year, resulting in a loss from operations of $29.7 million, compared to a loss of $29.5 million in the same quarter of 2024.

For the six months ending June 30, 2025, Humacyte reported total revenue of $818,000, again a notable increase from the previous year. The company’s operating expenses decreased to $53.7 million from $56.1 million year-over-year, leading to a reduced loss from operations of $52.9 million compared to $56.1 million in the first half of 2024. The net income for the first half of 2025 was $1.5 million, a stark contrast to the net loss of $88.6 million reported in the same period last year, primarily due to a significant gain from the change in fair value of the Contingent Earnout Liability.

In terms of strategic developments, Humacyte has made significant strides in its product offerings, particularly with the commercial launch of Symvess in March 2025 following FDA approval. The company is also advancing its clinical trials for additional applications of its acellular tissue engineered vessels (ATEVs), including indications for arteriovenous access for hemodialysis and peripheral artery disease. As of June 30, 2025, Humacyte had cash and cash equivalents of $38.0 million, alongside $50.4 million in restricted cash, which the company believes will be sufficient to fund operations for at least the next twelve months.

Operationally, Humacyte has implemented cost-reduction measures, including a workforce reduction of 30 employees, aimed at improving its cash runway and aligning its organizational structure with business objectives. The company anticipates that these measures will yield approximately $13.8 million in savings for 2025 and up to $38.0 million in 2026. Additionally, Humacyte has secured financing through various public offerings and agreements, including a recent $46.7 million from its 2025 public offering, which will support its ongoing commercialization efforts.

Looking ahead, Humacyte remains focused on expanding its product pipeline and achieving further regulatory approvals. The company plans to continue its clinical development efforts and is exploring additional funding avenues to support its operations and growth. However, it acknowledges the inherent risks and uncertainties associated with the biotechnology industry, including the need for substantial capital to fund ongoing research and development activities.