Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Celularity Inc.CELU · healthcare | |
|---|---|
| Grade |  Eweakest fifth of 371 graded peers; percentile 94.6, sampling error 2.5 points; lower is stronger |
| Rank | 351 of 371 |
| Profitability | C/Dpercentile 61.9 |
| Solvency | Epercentile 91.6 |
| Growth and financing | Dpercentile 65.6 |
| Reliability | 0.83 AUCfailure model, filers with $12.5M to $120M assets; 95% interval 0.79 to 0.86; 201 events, 2020 to 2025 |
| Peer failure rate | 1.07% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $12.5M to $120M assetstotal assets $107.3M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | short runway, late filernot computable: distress |
| Inputs computable | 8 of 14 |
| Graded from | filings received through Apr 30, 2026162 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $1.482026-10-08; market equity $48.0M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Apr 30, 2026; the document on sec.gov.
company focused on advancing health longevity and redefining the standard of care for age-related disease using novel therapies derived from the post-partum human placenta. The objective of extending health longevity is to meaningfully reduce the duration and severity in which an individual experiences aging-related degenerative diseases and disorders associated with increased mortality towards the end of life. Aging is known to be a major risk factor for many degenerative disorders and diseases across multiple high-value therapeutic areas, including immunology and regenerative medicine.
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 61.9 | |||||||
| Gross profitability | 6.0% | [1-2,4] | 32.2% | 81.7 | 372 | 2025-12-31 | |
| Return on invested capital | not computable | 9.3% | |||||
| a prior annual debt, equity, and cash observation is required | |||||||
| Accruals ratio | (65.4%) | [1,5-7] | (6.6%) | 6.4 | 811 | 2025-12-31 | |
| Gross margin stability, five years | 27.9 pts | [2,4,8-15] | 2.8 pts | 97.5 | 243 | 2025-12-31 | |
| Solvency, sleeve percentile 91.6 | |||||||
| Twelve-month failure probability | not computable | 0.07% | |||||
| latest liabilities, cash plus short-term investments, book equity, and shares are required | |||||||
| Altman Z double-prime | (38.41) | [1,16-21] | (0.31) | 85.3 | 756 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 1.82x | |||||
| EBITDA must exceed $100,000 | |||||||
| Interest coverage | not computable | (4.51x) | |||||
| one or more required annual facts are missing | |||||||
| Current ratio | 0.15x | [16-17] | 2.96x | 97.9 | 839 | 2025-12-31 | |
| Growth and financing, sleeve percentile 65.6 | |||||||
| Revenue growth, three-year compound | 13.9% | [2,8,11,13] | 10.0% | 41.1 | 415 | 2025-12-31 | |
| Free cash flow growth, three-year compound | not computable | 10.9% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 37.1% | |||||
| pretax income must exceed the validity floor and imply a 0%-100% tax rate | |||||||
| Asset growth, three years | (35.6%) | [1,7,22-23] | 2.1% | 94.6 | 704 | 2025-12-31 | |
| Net share issuance, one year | 20.9% | [24-25] | 2.5% | 61.1 | 634 | 2026-04-28 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.512; sampling error 2.5 percentile points on 371 peers.
Among 371 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 346 | China Pharma Holdings, Inc. (CPHI) China Pharma Holdings, Inc. (CPHI) Eweakest fifth; percentile 93.2 NYSE · Pharmaceutical Preparations market equity $41.3M; last close $0.97 Warnings: dilution, late filer; 8 of 14 inputs | 93.2 | E | dilution, late filer |
| 347 | Fortress Biotech, Inc. (FBIO) Fortress Biotech, Inc. (FBIO) Eweakest fifth; percentile 93.6 Nasdaq · Pharmaceutical Preparations last close $2.10 Warnings: fortress balance sheet; 8 of 14 inputs | 93.6 | E | fortress balance sheet |
| 348 | Fortress Biotech, Inc. (FBIOP) Fortress Biotech, Inc. (FBIOP) Eweakest fifth; percentile 93.6 Nasdaq · Pharmaceutical Preparations last close $17.95 Warnings: fortress balance sheet; 8 of 14 inputs | 93.6 | E | fortress balance sheet |
| 349 | Co-Diagnostics, Inc. (CODX) Co-Diagnostics, Inc. (CODX) Eweakest fifth; percentile 94.1 Nasdaq · Surgical & Medical Instruments & Apparatus market equity $6.8M; last close $1.10 Warnings: dilution, short runway, fortress balance sheet; 8 of 14 inputs | 94.1 | E | dilution, short runway, fortress balance sheet |
| 350 | Kyntra BIO, Inc. (KYNB) Kyntra BIO, Inc. (KYNB) Eweakest fifth; percentile 94.3 Nasdaq · Pharmaceutical Preparations market equity $24.1M; last close $5.83 No active warnings; 10 of 14 inputs | 94.3 | E | |
| 351 | Celularity Inc. (CELU) Celularity Inc. (CELU) Eweakest fifth; percentile 94.6 Nasdaq · Pharmaceutical Preparations market equity $47.4M; last close $1.48 Warnings: short runway, late filer; 8 of 14 inputs | 94.6 | E | short runway, late filer |
| 352 | Silo Pharma, Inc. (SILO) Silo Pharma, Inc. (SILO) Eweakest fifth; percentile 94.9 Nasdaq · Pharmaceutical Preparations market equity $2.3M; last close $1.41 Warnings: dilution, degenerate inputs, distress; 7 of 14 inputs | 94.9 | E | dilution, degenerate inputs, distress |
| 353 | VivoSim Labs, Inc. (VIVS) VivoSim Labs, Inc. (VIVS) Eweakest fifth; percentile 95.1 Nasdaq · Biological Products, (No Diagnostic Substances) market equity $2.6M; last close $0.18 Warnings: dilution, short runway, late filer; 7 of 14 inputs | 95.1 | E | dilution, short runway, late filer |
| 354 | ALX Oncology Holdings Inc. (ALXO) ALX Oncology Holdings Inc. (ALXO) Eweakest fifth; percentile 95.4 Nasdaq · Pharmaceutical Preparations market equity $163.2M; last close $1.18 Warnings: dilution, short runway, degenerate inputs, fortress balance sheet; 8 of 14 inputs | 95.4 | E | dilution, short runway, degenerate inputs, fortress balance sheet |
| 355 | Biomerica Inc. (BMRA) Biomerica Inc. (BMRA) Eweakest fifth; percentile 95.7 Nasdaq · In Vitro & In Vivo Diagnostic Substances market equity $8.7M; last close $1.87 Warnings: short runway; 7 of 14 inputs | 95.7 | E | short runway |
| 356 | Bolt Biotherapeutics, Inc. (BOLT) Bolt Biotherapeutics, Inc. (BOLT) Eweakest fifth; percentile 95.9 Nasdaq · Pharmaceutical Preparations market equity $7.0M; last close $3.61 Warnings: short runway, distress; 7 of 14 inputs | 95.9 | E | short runway, distress |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | E | 97.4 | 2204 |
| sector peers, equal sleeves (the grade) | E | 94.6 | 371 |
| same exchange, equal sleeves | E | 96.7 | 1219 |
| sector peers, equal inputs | E | 93.5 | 371 |
Each letter is one fifth of the 371 graded peers, about 74 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (10.6%) | 8.0% | 39 | hotter than 39 of 100 peers |
| Distance from 52-week high | (35.7%) | (31.4%) | 42 | closer to its high than 42 of 100 peers |
| EBIT to enterprise value | (75.9%) | (1.5%) | 9 | pricier than 91 of 100 peers |
| Free cash flow yield | (13.9%) | (1.0%) | 28 | pricier than 72 of 100 peers |
| Book value to price | (0.74) | 0.28 | 3 | pricier than 97 of 100 peers |
| Sales to price | 0.56 | 0.31 | 69 | pricier than 31 of 100 peers |
| Composite equity issuance, five years | not computable | 20.3% | a share count from five years earlier is required | |
| Relative strength against the sector, log excess return | (0.32) | (0.14) | 39 | ahead of 39 of 100 peers |
Inputs: market equity $47.4M; EBIT -$61.3M; free cash flow -$6.6M; book equity -$35.3M; sales $26.6M; debt $33.8M; cash $368,000[26].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | (69.1%) | ✗ fail[5,7] |
| Operating cash flow above zero | -$13.3M | ✗ fail[6] |
| Return on assets improved | (28.9 pts) | ✗ fail[5,7,22,27] |
| Operating cash flow exceeds net income | $78.5M | ✓ pass[5-6] |
| Long-term leverage fell | n/a[1,7,22,28] | |
| Current ratio improved | (23.0 pts) | ✗ fail[16-17,29-30] |
| No new shares issued | 20.9% | ✗ fail[24-25] |
| Gross margin improved | (48.0 pts) | ✗ fail[2,4,8-9] |
| Asset turnover improved | (17.7 pts) | ✗ fail[2,7-8,22] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $368,000[3] |
| Operating cash flow, four quarters | -$8.8M[3,6,31-34] |
| Months of runway | 0.5 |
| Late filings, two years | 5 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 10 |
| 10-Q received Sep 29, 2026 | |
| Median daily dollar volume | $74,844 |
| 63 sessions | |
| Days since newest grade input | 162 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $107.3M | 2025-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $26.6M | 2025-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 3 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $368,000 | 2026-03-31 | 2026-09-29 | 10-Q | filing · viewer · series |
| 4 | cost of revenue | us-gaap:CostOfRevenue | $20.1M | 2025-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 5 | net income | us-gaap:NetIncomeLoss | -$91.7M | 2025-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 6 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$13.3M | 2025-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 7 | assets | us-gaap:Assets | $132.7M | 2024-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 8 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $54.2M | 2024-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 9 | cost of revenue | us-gaap:CostOfRevenue | $15.0M | 2024-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 10 | gross profit | us-gaap:GrossProfit | $6.8M | 2023-12-31 | 2024-07-30 | 10-K | filing · viewer · series |
| 11 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $22.8M | 2023-12-31 | 2025-05-08 | 10-K | filing · viewer · series |
| 12 | gross profit | us-gaap:GrossProfit | -$1.7M | 2022-12-31 | 2024-07-30 | 10-K | filing · viewer · series |
| 13 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $18.0M | 2022-12-31 | 2024-07-30 | 10-K | filing · viewer · series |
| 14 | gross profit | us-gaap:GrossProfit | $11.7M | 2021-12-31 | 2023-03-31 | 10-K | filing · viewer · series |
| 15 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $21.3M | 2021-12-31 | 2023-03-31 | 10-K | filing · viewer · series |
| 16 | current assets | us-gaap:AssetsCurrent | $12.3M | 2025-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 17 | current liabilities | us-gaap:LiabilitiesCurrent | $80.8M | 2025-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 18 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$991.5M | 2025-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 19 | operating income | us-gaap:OperatingIncomeLoss | -$61.3M | 2025-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 20 | book equity | us-gaap:StockholdersEquity | -$38.1M | 2025-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 21 | liabilities | us-gaap:Liabilities | $145.4M | 2025-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 22 | assets | us-gaap:Assets | $143.9M | 2023-12-31 | 2025-05-08 | 10-K | filing · viewer · series |
| 23 | assets | us-gaap:Assets | $401.1M | 2022-12-31 | 2024-07-30 | 10-K | filing · viewer · series |
| 24 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 28,945,961 | 2026-04-28 | 2026-04-30 | 10-K | filing · viewer · series |
| 25 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 23,949,229 | 2025-05-06 | 2025-05-21 | 10-K/A | filing · viewer · series |
| 26 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 32,449,767 | 2026-09-24 | 2026-09-29 | 10-Q | filing · viewer · series |
| 27 | net income | us-gaap:NetIncomeLoss | -$57.9M | 2024-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 28 | long term debt | us-gaap:LongTermDebtAndCapitalLeaseObligations | $33.8M | 2025-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 29 | current assets | us-gaap:AssetsCurrent | $20.6M | 2024-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 30 | current liabilities | us-gaap:LiabilitiesCurrent | $53.7M | 2024-12-31 | 2026-04-30 | 10-K | filing · viewer · series |
| 31 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $1.4M | 2026-03-31 | 2026-09-29 | 10-Q | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$8.2M | 2025-09-30 | 2025-11-14 | 10-Q | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$4.0M | 2025-06-30 | 2025-08-29 | 10-Q | filing · viewer · series |
| 34 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$3.0M | 2025-03-31 | 2026-09-29 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 94.6 is 14.6 points from the nearest band edge; sampling error is 2.5 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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