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Sep 30, 2021
Vericel Q3 2021 Earnings Report
Reported third quarter financial results
Key Takeaways
Vericel Corporation reported a 7% increase in total net revenue for the third quarter of 2021, reaching $34.5 million compared to $32.3 million in the third quarter of 2020. Despite the revenue growth, the company experienced a net loss of $4.9 million, or $0.11 per share, a shift from the net income of $3.6 million, or $0.08 per share, reported in the same quarter of the previous year.
Total net revenue reached $34.5 million, a 7% increase compared to Q3 2020.
MACI net revenue was $23.9 million, while Epicel net revenue was $9.8 million.
Net loss was $4.9 million, or $0.11 per share, compared to a net income of $3.6 million, or $0.08 per share, in Q3 2020.
The company had approximately $119 million in cash and investments as of September 30, 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 increase 27%-30% to approximately $158-$161 million. Gross margin is now expected to be approximately 70%. Adjusted EBITDA margin is now expected to be approximately 22%. Estimated operating expenses of approximately $114 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income