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Sep 30, 2022
Vericel Q3 2022 Earnings Report
Vericel reported third quarter financial results with total net product revenue of $38.6 million.
Key Takeaways
Vericel Corporation reported a strong third quarter with a 12% increase in total net revenue to $38.6 million. MACI net revenue increased by 30% to $31.0 million. The company reported a net loss of $6.6 million, or $0.14 per share, and a non-GAAP adjusted EBITDA of $3.3 million.
Total net revenue reached $38.6 million.
MACI net revenue increased 30% to $31.0 million.
Gross margin was 65%.
The company had approximately $133 million in cash and investments with no debt as of September 30, 2022.
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 $164 to $166 million, MACI revenue to be approximately $130 to $132 million, total burn care revenue to be approximately $34 million, gross margin to be in the mid-60% range, and adjusted EBITDA margin in the mid-teens % range.
Positive Outlook
- Total net revenue expected to be in the range of $164 to $166 million
- MACI revenue expected to be approximately $130 to $132 million
- Total burn care revenue, including Epicel and NexoBrid, expected to be approximately $34 million
- Gross margin expected to be in the mid-60% range
- Adjusted EBITDA margin in the mid-teens % range
Revenue & Expenses
Visualization of income flow from segment revenue to net income