Business
Celularity Reports Full Year 2023 Combined Net Sales of $22.8 Million, a 26.7% Increase Over Full Year 2022, and Announces First Half 2024 Expected Combined Net Sales of $26.9 Million Representing 290% Growth Over First Half 2023
For the first quarter 2024, Celularity expects combined net sales of $14.8 million for its advanced biomaterial product and biobanking businesses, compared to
About this update from Celularity Inc.
[{"type":"text","content":"For the first quarter 2024, Celularity expects combined net sales of $14.8 million for its advanced biomaterial product and biobanking businesses, compared to the $10.25 million to $11.5 million guidance range previously announced in February. Celularity’s expected combined net sales for the first half 2024 are $25.8 to $27.8 million compared to $6.9 million of net sales in the first of 2023 at the midpoint of the 2024 range. Celularity reiterated it is on track to file a 510(k) premarket submission for its Celularity Tendon Wrap in the second half 2025, the first of three planned advanced biomaterial medical devices. FLORHAM PARK, N.J., July 31, 2024 (GLOBE NEWSWIRE) -- Celularity Inc. (Nasdaq: CELU) (“Celularity”) a regenerative and cellular medicine company developing placental-derived allogeneic cell therapies and advanced biomaterial products, today announced its 2023 full-year reported combined net sales of its advanced biomaterial product and biobanking businesses and announced first half 2024 expected combined net sales. As used here, “net sales” refers to direct-customer and distributor product sales of advanced biomaterial products and biobanking services, respectively, and does not include any revenue from other sources such as fees or revenue earned under research collaboration agreements. As reported on its Form 10-K for the year ended December 31, 2023, Celularity reported combined net sales of its advanced biomaterial product and biobanking businesses of $22.8 million for the full year 2023, consisting of advanced biomaterial product net sales of $17.3 million and biobanking net sales of $5.4 million. Reported full year 2023 combined net sales of $22.8 million represents an increase of 26.7% over full year 2022 reported combined net sales and is slightly above the high end of the expected full year 2023 combined net sales range of $22.06 million to $22.76 million announced in January. Full-year 2023 reported combined net sales is inclusive of the fourth quarter 2023, in which Celularity reported combined net sales of its advanced biomaterial product and biobanking businesses of $12.1 million, consisting of advanced biomaterial product net sales of $10.7 million and biobanking net sales of $1.4 million. Reported fourth quarter combined net sales of $12.1 million are also at the high end of the expected net sales ra...