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Mar 31, 2023
Vericel Q1 2023 Earnings Report
Reported record quarterly MACI and total revenue, driven by strong MACI revenue growth, and increased full-year revenue guidance.
Key Takeaways
Vericel Corporation reported a strong start to 2023 with record first-quarter total revenue of $41 million, driven by a 32% increase in MACI revenue to $34.2 million. The company raised its full-year 2023 revenue guidance to $184-$192 million. They also reported a net loss of $7.5 million, or $0.16 per diluted share, and a non-GAAP adjusted EBITDA of $1.7 million.
Record first quarter total revenue of $41 million.
MACI revenue increased 32% to $34.2 million.
Full-year 2023 revenue guidance raised to $184-$192 million.
Highest number of surgeons taking MACI biopsies and second highest number of MACI biopsies in a quarter since launch.
Vericel
Vericel
Vericel Revenue by Segment
Revenue by Segment
MACI Net Revenue
CapyFin.comEpicel Net Revenue
CapyFin.com Forward Guidance
Vericel expects total net revenue for 2023 to be in the range of $184 to $192 million and maintains profitability guidance of gross margin in the high-60% range and adjusted EBITDA margin in the mid-teens % range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income