Every material Form 8-K Vericel has filed with the SEC since January 09, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Vericel reported third quarter 2026 total revenue up 26% to $85.4 million and net income up 179% to $14.2 million, or $0.27 per diluted share. The company raised its full-year 2026 total revenue guidance to $344 million to $346 million from $330 million to $340 million.
Q3 2026 total net revenue of $85.4 million, up from $67.5 million in Q3 2025
Net income of $14.2 million, or $0.27 per diluted share, versus $5.1 million, or $0.10 per diluted share, a year earlier
Full-year 2026 revenue guidance raised to $344 million to $346 million; MACI guidance raised to $290 million to $292 million
Adjusted EBITDA margin guidance raised to 28% from 27%; repurchased 220,744 shares for $8.8 million in the quarter
Vericel reported second quarter 2026 total revenue of $77.5 million, up 22% from a year earlier, and net income of $2.2 million, or $0.04 per diluted share, compared with a net loss of $0.6 million in the same quarter of 2025. The company raised its full-year 2026 total revenue guidance to $330 million to $340 million and authorized a $200 million share repurchase program.
Q2 2026 total revenue was $77.5 million, up from $63.2 million; MACI net revenue was $65.5 million
Net income was $2.2 million, or $0.04 per diluted share, versus a net loss of $0.6 million in Q2 2025; gross margin was 73% versus 74%
Full-year 2026 total revenue guidance raised to $330 million to $340 million from $326 million to $336 million
Board authorized a $200 million share repurchase program; the company reported approximately $227 million in cash and investments and no debt
Vericel reported first quarter 2026 total revenue of $68.4 million, up 30% from $52.6 million a year earlier, and its net loss narrowed to $6.3 million, or $0.12 per diluted share, from $11.2 million, or $0.23 per share. The company raised its full-year 2026 total revenue guidance to $326 to $336 million from $316 to $326 million, which signals higher expected sales for shareholders.
Total revenue of $68.4 million, up 30% from $52.6 million in the first quarter of 2025
Net loss of $6.3 million, or $0.12 per diluted share, compared with $11.2 million, or $0.23, a year earlier
Full-year 2026 total revenue guidance raised to $326 to $336 million; Burn Care guidance raised to $44 to $48 million from $36 to $40 million
Free cash flow of $15.1 million; approximately $211 million in cash and investments and no debt
Vericel reported fourth-quarter 2025 total revenue of $92.9 million, up 23%, and net income of $23.2 million, up 17%. For the full year, revenue rose 16% to $276.3 million and net income rose 59% to $16.5 million. The company guided 2026 total revenue to $316 million to $326 million and MACI revenue to $280 million to $286 million.
Q4 2025 net income was $23.2 million, or $0.45 per diluted share, versus $19.8 million, or $0.38, in Q4 2024
Full-year 2025 net income was $16.5 million, or $0.32 per diluted share, versus $10.4 million, or $0.20, in 2024
2026 guidance: total revenue of $316 to $326 million, gross margin of about 75%, and adjusted EBITDA margin of about 27%
Operating expenses rose to $50.7 million in Q4 2025 from $40.0 million, mainly from headcount and costs tied to the new Burlington facility
Vericel released preliminary, unaudited 2025 results on January 13, 2026, ahead of its January 14 presentation at the J.P. Morgan Healthcare Conference. The company expects total net revenue of about $276 million, GAAP net income for a second consecutive year, and $200 million in cash and investments with no debt. The figures are subject to change and may differ materially from the audited statements.
Total net revenue expected at approximately $276 million, including MACI net revenue of $239.5 million and Burn Care net revenue of $36.5 million
Gross margin expected at 74% and adjusted EBITDA margin at 26%
GAAP net income profitability expected for the second consecutive year
Fourth-quarter total revenue and MACI revenue each grew 23%; PricewaterhouseCoopers has not audited the preliminary data
Vericel reported third quarter 2025 results, with total revenue of $67.5 million, up from $57.9 million a year earlier, and net income of $5.1 million, compared with a net loss of $0.9 million in the prior-year quarter. The company reaffirmed its full-year 2025 MACI revenue and profitability targets and gave total full-year revenue guidance of $272 million to $276 million.
Q3 2025 total revenue was $67.5 million, versus $57.9 million in Q3 2024; MACI revenue grew 25% to $55.7 million.
Net income was $5.1 million, or $0.10 per diluted share, versus a net loss of $0.9 million, or $0.02 per share, a year earlier.
Full-year 2025 total revenue guidance is $272 million to $276 million; full-year gross margin of 74% and adjusted EBITDA margin of 26% were reaffirmed.
As of September 30, 2025, the company had $185 million in cash and investments and no debt.
Vericel reported second quarter 2025 results for the period ended June 30, 2025, with total revenue up 20% to $63.2 million and a net loss of $0.6 million, or $0.01 per diluted share, versus $4.7 million a year earlier. The company reaffirmed its full-year MACI revenue growth and profitability guidance, which matters to shareholders because it shows revenue and earnings improving while the outlook was held steady.
Total net revenue rose to $63.2 million from $52.7 million; MACI net revenue grew 21% to $53.5 million.
Gross margin was 74%, up from 70% a year earlier; non-GAAP adjusted EBITDA rose 112% to $13.4 million.
Full-year 2025 guidance was reaffirmed for MACI revenue growth in the low 20% range and for a 74% gross margin and 26% adjusted EBITDA margin.
As of June 30, 2025, the company had approximately $164 million in cash and investments and no debt.
Vericel reported first-quarter 2025 total revenue of $52.6 million, up from $51.3 million a year earlier, but its net loss widened to $11.2 million, or $0.23 per diluted share, from $3.9 million, or $0.08 per share. The company raised its full-year profitability guidance to a 74% gross margin and 26% adjusted EBITDA margin while reaffirming full-year revenue growth of 20% to 23%.
Q1 2025 total revenue of $52.6 million versus $51.3 million in Q1 2024; MACI net revenue of $46.3 million
Net loss of $11.2 million, or $0.23 per diluted share, versus a net loss of $3.9 million, or $0.08 per share, a year earlier
Full-year profitability guidance raised to 74% gross margin and 26% adjusted EBITDA margin
Second-quarter total revenue growth expected to be 22% to 25%; full-year revenue growth guidance of 20% to 23% reaffirmed
At its April 30, 2025 annual meeting, Vericel shareholders approved an amended and restated 2022 Omnibus Incentive Plan and an amended and restated 2015 Employee Stock Purchase Plan. The plans reserve 5,088,095 and 2,000,000 shares of common stock for issuance, respectively. All seven director nominees were elected, and shareholders also approved the non-binding advisory vote on executive compensation.
Equity plan reserves 5,088,095 shares of common stock for issuance; effective April 30, 2025.
Employee Stock Purchase Plan reserves 2,000,000 shares of common stock.
All seven director nominees elected to one-year terms expiring at the 2026 annual meeting.
Non-binding say-on-pay vote: 40,777,685 votes for and 4,353,149 against.
Vericel reported full-year 2024 total net revenue up 20% to $237.2 million and net income of $10.4 million, or $0.20 per diluted share, compared with a net loss of $3.2 million in 2023. The company reaffirmed 2025 total net revenue growth guidance of 20% to 23% and increased its mid-term profitability targets for 2029, which matters to shareholders because it shows continued growth and a shift to profitability.
Full-year 2024 total net revenue rose 20% to $237.2 million, including $197.3 million of MACI net revenue.
Full-year 2024 net income was $10.4 million, or $0.20 per diluted share, versus a net loss of $3.2 million in 2023.
2025 guidance reaffirmed: total net revenue growth of 20% to 23%, gross margin of 73% to 74%, and adjusted EBITDA margin of 25% to 26%.
Mid-term targets increased: gross margin in the high-70% range and adjusted EBITDA margin in the high-30% range by 2029.
Vericel released preliminary, unaudited results for 2024, projecting total net revenue of about $237 million to $237.5 million, up 20%, and GAAP net income for the full year. It also issued 2025 guidance calling for 20% to 23% revenue growth and raised its mid-term gross margin and adjusted EBITDA margin targets. Shareholders should note that the company says the final audited figures may differ materially from these estimates.
Full-year 2024 total net revenue expected at about $237 million to $237.5 million, up 20%; full-year GAAP net income positive
Fourth-quarter 2024 revenue expected at $75.2 million to $75.7 million; GAAP net income expected at $17.5 million to $18.5 million
2025 guidance: 20% to 23% revenue growth, gross margin of 73% to 74%, adjusted EBITDA margin of 25% to 26%
About $167 million in cash, restricted cash and investments and no debt as of December 31, 2024; figures are preliminary and unaudited
Vericel reported third-quarter 2024 total revenue of $57.9 million, up 27%, and a net loss of $0.9 million, or $0.02 per diluted share, compared with a $3.7 million loss a year earlier. The company raised its full-year profitability guidance to a 72% gross margin and 22% adjusted EBITDA margin, while keeping its full-year revenue guidance of $238 to $242 million, so shareholders see stronger margins but the company still reported a net loss.
Q3 total revenue of $57.9 million, up from $45.6 million; MACI revenue $44.7 million and Burn Care revenue $13.2 million
Q3 gross margin of 72%, up from 67%; operating expenses rose to $44.1 million from $35.7 million
Q3 net loss of $0.9 million, or $0.02 per diluted share, versus $3.7 million, or $0.08 per share, in Q3 2023
Full-year profitability guidance raised to 72% gross margin and 22% adjusted EBITDA margin, from 71% and 21%; revenue guidance maintained at $238 to $242 million
Vericel reported second-quarter 2024 total revenue of $52.7 million, up 15% from $45.9 million a year earlier, and a net loss of $4.7 million, or $0.10 per share, versus $5.0 million, or $0.11 per share, in the prior-year quarter. The company reaffirmed its 2024 total net revenue guidance of $238 million to $242 million and raised its full-year gross margin guidance to 71% and adjusted EBITDA margin guidance to 21%.
Q2 2024 total net revenue was $52.7 million, up 15%; MACI net revenue rose 21% to $44.1 million
Net loss narrowed to $4.7 million, or $0.10 per diluted share, from $5.0 million, or $0.11, a year earlier
Non-GAAP adjusted EBITDA rose 42% to $6.3 million, a 12% margin
2024 guidance: total net revenue reaffirmed at $238 million to $242 million; gross margin raised to 71% and adjusted EBITDA margin to 21% from 70% and 20%
Vericel reported first quarter 2024 total revenue of $51.3 million, up 25% from $41.0 million a year earlier, and a net loss of $3.9 million, or $0.08 per diluted share, versus a $7.5 million loss in the prior-year quarter. The company raised its full-year 2024 revenue guidance to $238 million to $242 million from $237 million to $241 million.
Total net revenue rose 25% to $51.3 million for the quarter ended March 31, 2024, with MACI at $40.2 million and Burn Care at $11.1 million.
Net loss narrowed to $3.9 million, or $0.08 per diluted share, from $7.5 million, or $0.16 per diluted share, a year earlier.
Non-GAAP adjusted EBITDA rose 325% to $7.2 million, or 14% of net revenue.
2024 total net revenue guidance was raised to $238 million to $242 million; gross margin (about 70%) and adjusted EBITDA margin (about 20%) guidance was maintained.
Vericel reported fourth-quarter and full-year 2023 results, with total revenue up 23% to $65.0 million in the quarter and up 20% to $197.5 million for the year. The company also issued 2024 guidance calling for total net revenue of $237 to $241 million, a gross margin of approximately 70%, and an adjusted EBITDA margin of approximately 20%. Shareholders get a view of stronger quarterly profit and a narrower full-year net loss, along with the company's first full-year revenue outlook in this release.
Q4 2023 net income was $13.0 million, or $0.26 per diluted share, versus $5.9 million, or $0.12 per diluted share, in Q4 2022.
Full-year 2023 net loss was $3.2 million, or $0.07 per diluted share, compared with a net loss of $16.7 million, or $0.35 per diluted share, in 2022.
MACI net revenue was $164.8 million for 2023, up 25%; Burn Care net revenue was $32.7 million.
As of December 31, 2023, the company had $152.6 million in cash, restricted cash and investments and no debt.
Vericel said in a January 9, 2024 press release and updated investor presentation that full-year 2023 total net revenue is expected to be about $197.5 million, up 20%, with fourth-quarter revenue of about $65.0 million, up 23%. The figures are preliminary and unaudited, and the company warned that final results may differ materially. The company also reported about $152 million in cash, restricted cash and investments and no debt as of December 31, 2023.
Full-year 2023 MACI net revenue expected at about $164.8 million, up 25%; Burn Care about $32.7 million
Fourth-quarter 2023 total net revenue expected at about $65.0 million, up 23%; gross margin expected above 70%
Full-year 2023 adjusted EBITDA margin expected in the mid-teens percentage range, with adjusted EBITDA growth of about 30%
Results are preliminary and unaudited; the company's J.P. Morgan presentation is scheduled for January 10, 2024
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