Every material Form 8-K Vericel filed with the SEC in 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 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
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Vericel filing is on SEC EDGAR ↗. 8-K briefs of other companies →