Earnings summaries and quarterly performance for Vericel.
Executive leadership at Vericel.
Board of directors at Vericel.
Research analysts who have asked questions during Vericel earnings calls.
JJ
Joshua Jennings
TD Cowen
6 questions for VCEL
Also covers: ABT, ALUR, ATEC +22 more
Ryan Zimmerman
BTIG
6 questions for VCEL
Also covers: ALC, CARL, GEHC +24 more
MC
Mason Carrico
Stephens Inc.
5 questions for VCEL
Also covers: AKYA, CDNA, CSTL +13 more
SR
Swayampakula Ramakanth
H.C. Wainwright & Co.
5 questions for VCEL
Also covers: ABSI, BSEM, CGEN +24 more
CC
Caitlin Cronin
Canaccord Genuity
4 questions for VCEL
Also covers: ATEC, AXGN, BVS +12 more
RN
Richard Newitter
Truist Securities
3 questions for VCEL
Also covers: AXNX, BBNX, DXCM +19 more
JC
Jeffrey Cohen
Ladenburg Thalmann
2 questions for VCEL
Also covers: BBNX, BWAY, CBLL +11 more
Michael Kratky
Leerink Partners
2 questions for VCEL
Also covers: AXGN, BBNX, DXCM +6 more
F
Felipe
Truist Financial Corporation
1 question for VCEL
Also covers: BBNX, PODD
Felipe Lamar
Truist Securities
1 question for VCEL
Also covers: BBNX, CARL, SIBN +2 more
MS
Michaela Smith
Canaccord Genuity
1 question for VCEL
Also covers: ATEC, KRMD, OFIX
Mike Kratky
Leerink Partners
1 question for VCEL
Also covers: AXGN, DXCM, INSP +5 more
S
Sam
Deutsche Bank
1 question for VCEL
Also covers: ADC, ARDX, AUTL +2 more
Sam Nangali
Leerink Partners
1 question for VCEL
Recent press releases and 8-K filings for VCEL.
Vericel Reports Strong Q4 and Full-Year 2025 Results, Issues 2026 Guidance
VCEL
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Vericel reported a strong Q4 2025, with record total revenue of $92.9 million, a 23% increase year-over-year, and record net income, achieving a gross margin of nearly 80% and an Adjusted EBITDA margin of 40%. Full-year 2025 total revenue was $276.3 million, and GAAP net income grew nearly 60% to $16.5 million.
- The company concluded 2025 with approximately $200 million in cash and investments and no debt.
- Key business initiatives included the successful MACI sales force expansion and the initiation of the MACI ankle clinical study. Vericel is also on track to begin commercial manufacturing of MACI in its new facility in 2026 and aims to potentially launch MACI outside the U.S. in 2027.
- For 2026, Vericel provided guidance of total company revenue between $316 million and $326 million, with MACI revenue expected to be $280 million-$286 million. The company projects a full-year gross margin of approximately 75% and an Adjusted EBITDA margin of approximately 27%.
5 days ago
Vericel Reports Record Q4 2025 Results and Provides Strong 2026 Guidance
VCEL
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Vericel reported record Q4 2025 total revenue of $92.9 million, a 23% increase year-over-year, and record MACI revenue of $84.1 million, also up 23%. For the full year 2025, total revenue reached $276.3 million, with GAAP net income growing nearly 60% to $16.5 million. The company ended the year with approximately $200 million in cash and investments and no debt.
- The company achieved record Q4 2025 gross margin of nearly 80% and adjusted EBITDA margin of 40%. For the full year 2025, gross margin was 74% and adjusted EBITDA margin was 26%. For fiscal year 2026, Vericel guides for a full-year gross margin of 75%.
- For fiscal year 2026, Vericel expects total company revenue of approximately $316-$326 million, with MACI revenue projected at $280-$286 million and Burn Care revenue at $36-$40 million. The company anticipates exceeding 20% total company revenue growth in Q1 2026.
- Key strategic initiatives include the successful completion of the MACI sales force expansion, initiation of the MACI ankle clinical study, and plans to potentially launch MACI outside the United States in 2027, starting with the U.K.. The MACI Arthro technique has seen approximately 1,000 surgeons trained, driving significant increases in biopsy and implant growth.
- Vericel also noted a strong possibility for incremental NexoBrid BARDA revenue during 2026, which is not currently included in its initial guidance.
5 days ago
Vericel Reports Strong Q4 and Full-Year 2025 Results, Provides 2026 Guidance
VCEL
Earnings
Guidance Update
New Projects/Investments
- Vericel reported a strong close to 2025, with record Q4 total revenue of $92.9 million, a 23% increase year-over-year, and full-year total revenue of $276.3 million.
- The company demonstrated significant profitability, achieving a Q4 gross margin of 79% and an Adjusted EBITDA margin of 40%, while ending 2025 with approximately $200 million in cash and investments and no debt.
- For 2026, Vericel projects total company revenue between $316 million and $326 million, with anticipated full-year gross margin of approximately 75% and Adjusted EBITDA margin of approximately 27%.
- Strategic initiatives include the completed MACI sales force expansion, the initiation of the MACI ankle clinical study, and plans to begin commercial manufacturing of MACI in a new facility and potentially launch MACI outside the U.S. in 2027, starting with the U.K..
5 days ago
Vericel announces Q4 2025 results and 2026 financial guidance
VCEL
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Vericel reported Q4 2025 total revenue of $92.9 million, marking a 23% increase year-over-year, with net income reaching $23.2 million.
- The company achieved an adjusted EBITDA of $37.3 million, a 40% margin, and concluded Q4 2025 with approximately $200 million in cash and investments.
- MACI revenue grew 23% to ~$84 million, and Burn Care revenue increased 25% in Q4 2025, contributing to record quarterly revenue.
- For 2026, Vericel projects total revenue between $316 million and $326 million, with an anticipated gross margin of approximately 75% and an EBITDA margin of approximately 27%.
5 days ago
Vericel Reports Strong Q4 and Full-Year 2025 Financial Results, Provides 2026 Guidance
VCEL
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Vericel Corporation reported strong financial results for Q4 2025, with total net revenue increasing 23% to $92.9 million and net income growing 17% to $23.2 million. The company also achieved a record gross margin of 79% and an Adjusted EBITDA margin of 40% in the fourth quarter.
- For the full-year 2025, total net revenue was $276.3 million, a 16% increase from 2024, and net income rose 59% to $16.5 million. MACI revenue growth was 21% to $239.5 million for the full year.
- The company issued 2026 financial guidance, projecting total revenue between $316 million and $326 million and a gross margin of approximately 75%.
- Key business highlights include MACI revenue growth of 20% or more for the third consecutive year and remaining on track to begin MACI commercial manufacturing in a new facility in 2026.
5 days ago
Vericel Reports Strong Q4 and Full-Year 2025 Financial Results, Provides 2026 Guidance
VCEL
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Vericel reported strong financial results for the fourth quarter and full-year ended December 31, 2025, with total net revenue growing 23% to $92.9 million in Q4 2025 and reaching $276.3 million for the full year.
- Net income increased 17% to $23.2 million in Q4 2025 and 59% to $16.5 million for the full year 2025, alongside a record gross margin of 79% in Q4.
- Non-GAAP adjusted EBITDA for Q4 2025 increased 25% to $37.3 million, representing 40% of revenue, and for the full year 2025, it increased 33% to $70.9 million.
- The company ended 2025 with approximately $200 million in cash and investments and no debt.
- For 2026, Vericel provided guidance of total revenue between $316 million and $326 million and an adjusted EBITDA margin of approximately 27%.
5 days ago
Vericel Presents Growth Strategy and Financial Targets at J.P. Morgan Healthcare Conference
VCEL
Guidance Update
Product Launch
New Projects/Investments
- Vericel presented at the 44th Annual J.P. Morgan Healthcare Conference on January 14, 2026.
- The company projects revenue to nearly double to ~$500 million by 2029 from an estimated ~$276 million in 2025, targeting high-70% gross margin and high-30% adjusted EBITDA margin by 2029.
- Recent product milestones include the 2024 launch of MACI Arthro, the Q4 2025 initiation of the MACI Ankle MASCOT clinical study, and the 2023 U.S. launch of NexoBrid with a pediatric indication approved in 2024.
- Vericel maintains a strong financial profile with approximately $200 million in cash and investments and is exploring potential strategic transactions to maximize long-term value.
Jan 14, 2026, 7:15 PM
Vericel Reports Strong 2025 Results and Outlines Growth Strategy
VCEL
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Vericel reported preliminary 2025 revenue of $276 million, at the high end of guidance, with MACI revenue close to $240 million and 23% revenue growth for both the company and MACI in Q4 2025.
- The company anticipates continued strong growth, projecting revenue to approach $500 million by 2029, with gross margins in the high 70% range and Adjusted EBITDA margins in the high 30% range.
- Key growth initiatives include a 30% expansion of the MACI sales force to 100 territories in 2026 and the initiation of a clinical study for a MACI ankle indication in Q4 2025, which represents a potential $1 billion+ market opportunity.
- Vericel maintains a strong balance sheet with $200 million in cash and no debt, expecting operating cash flow to increase from $50 million in 2026 to over $100 million annually by 2029.
Jan 14, 2026, 7:15 PM
Vericel Corp Reports Strong 2025 Preliminary Results and Outlines Growth Strategies
VCEL
Guidance Update
Product Launch
Revenue Acceleration/Inflection
- Vericel Corp announced preliminary 2025 revenue of approximately $276 million, at the high end of guidance, with MACI revenue near $240 million and 23% revenue growth for both the company and MACI in Q4 2025.
- The company reported a strong financial profile with $200 million in cash and no debt, projecting 74% gross margins and 26% Adjusted EBITDA margins for 2025, with targets of high 70% and high 30% respectively by 2029.
- Key growth initiatives include a 30% expansion of the MACI sales force in early 2026, recent FDA approval for arthroscopic administration of MACI (MACI Arthro), and the initiation of a clinical study for a MACI ankle indication, representing an additional $1 billion-plus market opportunity.
- Vericel expects its new manufacturing facility to be commercially operational in 2026, which will facilitate potential OUS expansion for MACI.
Jan 14, 2026, 7:15 PM
Vericel Reports Strong 2025 Preliminary Results and Outlines Growth Strategy
VCEL
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Vericel reported preliminary 2025 revenue of approximately $276 million, reaching the high end of its guidance range, with MACI revenue close to $240 million. The company experienced 23% revenue growth for both the company and MACI in Q4 2025.
- The company projects revenue to double from 2025 to 2029, approaching $500 million by the end of the decade. It anticipates gross margins in the high 70% range and Adjusted EBITDA margins in the high 30% range by 2029.
- Vericel maintains a strong balance sheet with $200 million in cash and investments and no debt. It expects $50 million in operating cash flow in 2026, growing to over $100 million annually by 2029.
- Key growth initiatives include a 30% expansion of the MACI sales force implemented at the beginning of 2026, continued uptake of MACI Arthro (FDA-approved for arthroscopic administration), and a clinical study for a MACI ankle indication, which represents a potential $1 billion+ market opportunity.
Jan 14, 2026, 7:15 PM
Quarterly earnings call transcripts for Vericel.
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