Humacyte Inc. Common Stock (HUMA)

FairStock Score: 10/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Humacyte as a Graham-style balance-sheet investor: the business may have a promising proprietary platform of off-the-shelf human acellular vessels, but the financial record does not yet show durable earning power or a margin of safety. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was only $406,000, net income was -$36.8 million, and diluted EPS was -$0.16. Revenue did rise from $301,000 in fiscal Q2 2025, the quarter ended 2025-06-30, but the base is tiny. For fiscal year 2025, period ended 2025-12-31, revenue was $2.0 million, net income was -$40.8 million, and diluted EPS was -$0.26. Earlier losses were much larger: -$148.7 million in fiscal year 2024, period ended 2024-12-31, and -$110.8 million in fiscal year 2023, period ended 2023-12-31. FairStock's trailing free cash flow is -$97.6 million, and its FCF yield is -87.6%; that is heavy cash consumption. At the 2026-10-26 close of $0.40, FairStock shows a P/B of 3.65, a P/E of -0.77, ROE of -547.87%, ROCE of -49.87%, and debt/equity of 2.14. The Altman Z-score of -7.21, Piotroski score of 4/9, FairStock Score of 10/100, and beta of 2.45 reinforce financial fragility and volatility. FairStock's Lynch rule assigns no category because there were losses in each of the last four years. I see a speculative development-stage biotech, not a Graham bargain: the platform could be valuable, but current sales and losses do not justify the price on the numbers shown.

In plain English: Humacyte makes lab-made human tissue vessels meant to be implanted in patients. The business is still very small and loses a lot of money: in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $406,000 and it lost $36.8 million. At $0.40 on 2026-10-26, the price looks high compared with those tiny sales and large losses.

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Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer