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.
CC
Caitlin Cronin
Canaccord Genuity
4 questions for VCEL
Also covers: ATEC, AXGN, BVS +10 more
JJ
Joshua Jennings
TD Cowen
4 questions for VCEL
Also covers: ABT, ALUR, ATEC +20 more
Ryan Zimmerman
BTIG
4 questions for VCEL
Also covers: ALC, GEHC, GKOS +23 more
MC
Mason Carrico
Stephens Inc.
3 questions for VCEL
Also covers: AKYA, CDNA, CSTL +13 more
RN
Richard Newitter
Truist Securities
3 questions for VCEL
Also covers: AXNX, DXCM, GKOS +18 more
SR
Swayampakula Ramakanth
H.C. Wainwright & Co.
3 questions for VCEL
Also covers: ABSI, BSEM, CGEN +24 more
Michael Kratky
Leerink Partners
2 questions for VCEL
Also covers: AXGN, BBNX, DXCM +6 more
Felipe Lamar
Truist Securities
1 question for VCEL
Also covers: BBNX, SIBN, TMCI +1 more
Mike Kratky
Leerink Partners
1 question for VCEL
Also covers: AXGN, DXCM, INSP +4 more
Sam Nangali
Leerink Partners
1 question for VCEL
Recent press releases and 8-K filings for VCEL.
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
Vericel Announces Preliminary Full-Year 2025 Financial Results and Business Updates
VCEL
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Vericel Corporation reported preliminary, unaudited total net revenue of approximately $276 million for full-year 2025, including MACI net revenue of $239.5 million and Burn Care net revenue of $36.5 million.
- For full-year 2025, the company expects a gross margin of 74% and an adjusted EBITDA margin of 26%, anticipating GAAP Net Income profitability for the second consecutive year.
- As of December 31, 2025, Vericel held $200 million in cash and investments with no debt.
- Business highlights include achieving the highest number of MACI implants, implanting surgeons, and biopsies in any quarter since launch during Q4 2025, and MACI revenue growth of 20% or more for the third consecutive year.
- The company is on track to begin MACI commercial manufacturing in a new facility in 2026 and expects another year of high revenue growth and increased profitability in 2026.
Jan 13, 2026, 2:11 PM
Vericel Reports Preliminary Full-Year 2025 Financial Results and Business Updates
VCEL
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Vericel expects preliminary, unaudited full-year 2025 total net revenue to be approximately $276 million, with MACI net revenue of $239.5 million and Burn Care net revenue of $36.5 million.
- The company anticipates a gross margin of 74% and an adjusted EBITDA margin of 26% for full-year 2025, with GAAP Net Income profitability expected for the second consecutive year.
- Vericel reported $200 million in cash and investments with no debt, and achieved 23% growth in both total revenue and MACI revenue for the fourth quarter.
- Business highlights include MACI revenue growth of 20% or more for the third consecutive year, completion of MACI sales force expansion, and remaining on track to begin MACI commercial manufacturing in a new facility in 2026.
Jan 13, 2026, 2:00 PM
Vericel Reports Strong Q3 2025 Results and Outlines Growth Drivers
VCEL
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Vericel reported record third-quarter revenue of $67.5 million in Q3 2025, with MACI revenue growing 25% to $56 million and burn care reaching $12 million. Adjusted EBITDA increased 70% to $17 million (25% margin), and the company generated approximately $20 million in operating and free cash flow.
- MACI is projected to maintain approximately 20% growth in 2025, supported by the full impact of Arthro-trained surgeons, ongoing surgeon training, and a Salesforce expansion from 75 to about 100 territories. The MACI Ankle study is expected to begin in Q4, with a potential U.K. rollout in 2027.
- The company anticipates continued margin expansion and significant cash generation, with adjusted EBITDA trending towards $200 million by the end of the decade. Vericel plans to prioritize internal investments, while remaining disciplined in evaluating M&A opportunities.
Nov 20, 2025, 4:00 PM
Vericel Reports Strong Q3 2025 Results and Outlines Growth Initiatives
VCEL
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Vericel reported record third-quarter revenue of $67.5 million, with MACI growing 25% to $56 million and burn care reaching $12 million. Adjusted EBITDA grew 70% to $17 million (25% margin), and the company generated roughly $20 million in operating/free cash flow.
- The company expects MACI to maintain a 20% growth outlook for 2026, driven by the MACI Arthro opportunity, continued mid-to-high single-digit pricing, and a Salesforce expansion from 75 to 100 territories, with new reps in the field by January 1, 2026.
- Vericel plans to re-enter international markets with MACI, targeting the U.K. first, with a potential regulatory pathway as early as 2026 and a launch in 2027.
- The company anticipates continued margin expansion, guiding to 74% gross margin and 26% adjusted EBITDA margin for the current year, with adjusted EBITDA trending towards $200 million by the end of the decade and significant cash generation, while maintaining a disciplined approach to M&A.
Nov 20, 2025, 4:00 PM
Vericel Announces Q3 2025 Results
VCEL
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- Vericel reported total revenue of $67.5 million for Q3 2025, driven by strong performance across both franchises, and achieved net income of $5.1 million.
- The company's Adjusted EBITDA reached $17.0 million, representing a 25% margin, and generated record operating cash flow of $22.1 million.
- MACI revenue grew by 25% to nearly $56 million, while NexoBrid achieved record quarterly revenue and Epicel had its highest quarter of the year at $10.4 million.
- Vericel ended Q3 2025 with $185 million in cash and investments and is on track to complete its MACI sales force expansion in Q4, with new hires in territories by Q1 2026.
Nov 6, 2025, 1:30 PM
Vericel Corporation Announces Strong Q3 2025 Results and Reaffirms Full-Year Guidance
VCEL
Earnings
Guidance Update
New Projects/Investments
- Vericel Corporation reported record third-quarter 2025 total revenue of $67.5 million, driven by record MACI revenue of $55.7 million, which increased 25% over the prior year.
- The company achieved GAAP net income of over $5 million and adjusted EBITDA of $17 million, representing 25% of revenue, along with record third-quarter operating cash flow of $22.1 million.
- Vericel reaffirmed its full-year 2025 total revenue guidance of $272 million to $276 million, with MACI revenue expected to be $237.5 million to $239.5 million.
- MACI Arthro continues to show strong early launch indicators, with over 800 trained surgeons by the end of October, contributing to overall MACI biopsy and implant growth.
- The company plans to initiate the Phase 3 MACI Ankle Clinical Study in Q4 2025 and pursue a staged MACI OUS expansion, with a planned U.K. launch in the first half of 2027.
Nov 6, 2025, 1:30 PM
Quarterly earnings call transcripts for Vericel.
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