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Sep 30, 2024
Vericel Q3 2024 Earnings Report
Reported a strong third quarter with significant revenue growth and profitability improvements, driven by key product performances and strategic advancements.
Key Takeaways
Vericel Corporation reported a strong third quarter in 2024, marked by a 27% increase in total revenue to $57.9 million. The company achieved a gross margin of 72% and an 84% growth in adjusted EBITDA. Key highlights include the FDA approval and commercial launch of MACI Arthro and a raised full-year profitability guidance.
Total net revenue increased by 27% to $57.9 million.
MACI net revenue grew by 19% to $44.7 million.
Burn Care net revenue increased by 66% to $13.2 million, including $12.2 million from Epicel and $1.1 million from NexoBrid.
Non-GAAP adjusted EBITDA increased by 84% to $10.0 million, representing a 17% adjusted EBITDA margin.
Revenue by Segment
Forward Guidance
Vericel maintained total net revenue guidance of $238 to $242 million, representing 20% to 23% growth. Profitability guidance was raised to 72% gross margin and 22% adjusted EBITDA margin.
Positive Outlook
- Maintained total net revenue guidance of $238 to $242 million, or 20% to 23% growth
- Profitability guidance raised to 72% gross margin
- Profitability guidance raised to 22% adjusted EBITDA margin
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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