v3.25.3

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 19,488	$ 44,937
Inventory	18,418	0
Accounts receivable	1,078	180
Prepaid expenses and other current assets	2,367	2,742
Total current assets	41,351	47,859
Restricted cash	209	50,209
Property and equipment, net	19,857	23,063
Finance lease right-of-use assets, net	29,420	15,490
Other long-term assets	672	1,251
Total assets	91,509	137,872
Current liabilities
Accounts payable	9,575	4,490
Accrued expenses	10,264	11,424
Finance lease obligation, current portion	2,670	2,917
Revenue interest liability, current portion	3,072	885
Other current liabilities	0	238
Total current liabilities	25,581	19,954
Revenue interest liability, net of current portion	17,674	63,354
Contingent Earnout Liability	21,807	70,961
Finance lease obligation, net of current portion	27,155	13,620
Common stock warrant liabilities	3,234	19,254
Contingent derivative liability	289	2,415
Other long-term liabilities	520	983
Total liabilities	96,260	190,541
Commitments and contingencies (Note 12)
Stockholders’ equity (deficit)
Preferred stock, $0.0001 par value; 20,000,000 shares designated as of September 30, 2025 and December 31, 2024; 0 shares issued and outstanding as of September 30, 2025 and December 31, 2024	0	0
Common stock, $0.0001 par value; 350,000,000 and 250,000,000 shares authorized as of September 30, 2025 and December 31, 2024, respectively; 158,835,303 and 130,027,509 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively	16	13
Additional paid-in capital	697,277	633,333
Accumulated deficit	(702,044)	(686,015)
Total stockholders’ equity (deficit)	(4,751)	(52,669)
Total liabilities and stockholders’ equity (deficit)	$ 91,509	$ 137,872

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Humacyte, Inc. 10-Q