Loading...
•
Mar 31, 2021
Vericel Q1 2021 Earnings Report
Reported a strong first quarter with revenue growth and increased profitability.
Key Takeaways
Vericel Corporation reported a 30% increase in total net revenue to $34.6 million for the first quarter of 2021, driven by strong performance in both sports medicine and burn care franchises. The company raised its full-year 2021 revenue guidance to $165 - $168 million and reported a net loss of $3.3 million, or $0.07 per share.
Total net revenue increased by 30% to $34.6 million compared to the first quarter of 2020.
MACI net revenue was $23.8 million, and Epicel net revenue was $9.8 million.
Net loss was $3.3 million, or $0.07 per share, compared to $4.7 million, or $0.10 per share, in the first quarter of 2020.
The company had $110 million in cash and investments as of March 31, 2021.
Vericel
Vericel
Vericel Revenue by Segment
Revenue by Segment
MACI Net Revenue
CapyFin.comEpicel Net Revenue
CapyFin.comNexoBrid Net Revenue
CapyFin.com Forward Guidance
Vericel expects total net revenue to be in the range of $165-$168 million and adjusted EBITDA margin to be in the range of 21.5% to 23.5% for the full year 2021. Gross margin guidance of 70% to 71% and estimated operating expenses of approximately $115 million maintained.
Positive Outlook
- Total net revenue expected to be in the range of $165-$168 million.
- Adjusted EBITDA margin expected to be in the range of 21.5% to 23.5%.
- Gross margin guidance of 70% to 71% maintained.
- Estimated operating expenses of approximately $115 million maintained.
Challenges Ahead
- Uncertainties associated with future revenue growth.
- Potential fluctuations in sales and volumes.
- Timing and conduct of clinical trial and product development activities.
- Competitive developments and changes in third-party coverage and reimbursement.
- Impacts of the COVID-19 pandemic on the business.
Revenue & Expenses
Visualization of income flow from segment revenue to net income