Vericel reported record first quarter MACI and total revenue, driven by continued strength in MACI Arthro launch. The company reaffirmed full-year revenue guidance and raised profitability guidance.
Total net revenue for the first quarter of 2025 was $52.6 million, an increase from $51.3 million in the prior year.
MACI net revenue grew by 15% to $46.3 million, representing a record first quarter for the product.
The company achieved a gross margin of 69% in the first quarter.
Vericel ended the quarter with approximately $162 million in cash, restricted cash, and investments, and no debt.
Vericel reaffirmed full-year 2025 total revenue guidance with expected growth of 20% to 23% and raised full-year profitability guidance to a gross margin of 74% and adjusted EBITDA margin of 26%. Second quarter total revenue growth is expected to be 22% to 25%.