Celularity Raises Full Year 2024 Guidance as Expected Net Sales Through October Reach $44.4 Million

Celularity Raises Full Year 2024 Expected Net Sales Guidance to $54 Million to $60 Million, Compared to Previous Guidance of $50 Million to $56 Million

October Expected Net Sales of $8.3 Million to $8.9 Million Marks the Highest Single-Month Figure in its History

Celularity Filed its Second Quarter Form 10-Q and is Now Current With its Quarterly Report Filings

FLORHAM PARK, N.J., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Celularity Inc. (NASDAQ:CELU) ("Celularity") a regenerative and cellular medicine company, today announced that it has increased expected net sales guidance for the full year 2024 to $54 million to $60 million, up from $50 million to $56 million previously announced in February. The increased guidance is based on higher expected net sales through October of its advanced biomaterial products. Expected net sales for full year 2024 consist of $49 million to $54.5 million sales of advanced biomaterial products and $5.0 million to $5.5 million net sales of biobanking services. For the full year 2024, Celularity now expects net sales of its advanced biomaterial products to grow by 180% to 212% over the prior year.

October expected net sales were $8.3 million to $8.9 million, marking Celularity's highest-ever single-month expected net sales. For the ten months ending October 31, 2024, expected net sales were $44.4 million, consisting of advanced biomaterial product sales of $40.2 million and biobanking sales of $4.2 million, and includes approximately $9 million in expected net sales of Celularity's new Rebound™ product. Rebound adds to Celularity's portfolio of placental-derived advanced biomaterial products, sales of which through the first half of 2024 exceeded $24 million, which is greater than Celularity's full-year sales in 2023.

"We had very strong second and third quarter performances, and based on such performance we have increased the full year 2024 expected net sales guidance we previously announced in February," said Dr. Robert J. Hariri, M.D., Ph.D., Founder, Chairman, and CEO. "Sales are strong for our new Rebound product, which we believe will strengthen our revenue outlook for the next several quarters. We ...