Humacyte, Inc. balance sheet
At the end of fiscal 2025, Humacyte, Inc. had total assets of $116m, total liabilities of $113m and shareholders' equity of $3.1m. It held $50.5m in cash against $35.4m of debt: net cash of $15.1m.
Balance sheet
| Fiscal year | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|
| Cash and equivalents | 45 | 50 | 80 |
| Receivables | 0 | 0 | 0 |
| Inventory | 0 | 14 | 7 |
| Total current assets | 48 | 68 | 93 |
| Total assets | 138 | 116 | 138 |
| Accounts payable | 4 | 5 | 4 |
| Total current liabilities | 20 | 18 | 15 |
| Long-term debt | 0 | 35 | 36 |
| Total debt | 63 | 35 | 36 |
| Total liabilities | 191 | 113 | 107 |
| Shareholders' equity | −53 | 3 | 31 |
| Net debt (negative = net cash) | 18 | −15 | −44 |
| Shares outstanding | 130m | 193m | — |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Receivables | — | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Inventory | — | 0 | 8 | 11 | 18 | 14 | 10 | 7 |
| Total current assets | 23 | 48 | 74 | 52 | 41 | 68 | 64 | 93 |
| Total assets | 115 | 138 | 163 | 139 | 92 | 116 | 111 | 138 |
| Accounts payable | 7 | 4 | 6 | 7 | 10 | 5 | 5 | 4 |
| Total current liabilities | 21 | 20 | 20 | 21 | 26 | 18 | 16 | 15 |
| Long-term debt | 62 | 0 | 65 | 66 | 18 | 35 | 36 | 36 |
| Total debt | 62 | 0 | 65 | 66 | 18 | 35 | 36 | 36 |
| Total liabilities | 178 | 191 | 127 | 135 | 96 | 113 | 99 | 107 |
| Shareholders' equity | −64 | −53 | 36 | 4 | −5 | 3 | 12 | 31 |
| Shares outstanding | 120m | 130m | 155m | 156m | 159m | 193m | 222m | 278m |
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