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Dec 31, 2021
Vericel Q4 2021 Earnings Report
Vericel reported financial results for Q4 and full year 2021 and provided full-year 2022 financial guidance.
Key Takeaways
Vericel reported a 5% increase in total net revenue for the fourth quarter of 2021, reaching $47.6 million. Net income was $4.5 million, or $0.09 per share, and non-GAAP adjusted EBITDA was $12.8 million.
Total net revenue of $47.6 million, compared to $45.2 million in the fourth quarter of 2020.
MACI® net revenue of $37.3 million, Epicel® net revenue of $9.7 million, and NexoBrid® revenue of $0.5 million related to the U.S. Biomedical Advanced Research and Development Authority (BARDA) procurement for emergency response preparedness
Net income of $4.5 million, or $0.09 per share, compared to $12.2 million, or $0.25 per share, in the fourth quarter of 2020.
Non-GAAP adjusted EBITDA of $12.8 million, compared to $16.0 million in the fourth quarter of 2020.
Revenue by Segment
Forward Guidance
Total net revenue for 2022 expected to be in the range of $178 to $189 million. MACI revenue expected to be in the range of $132 to $141 million. Epicel revenue expected to be in the range of $45.5 to $47.5 million. Gross margin expected to be approximately 70%. Adjusted EBITDA margin expected to be approximately 21%.
Positive Outlook
- Total net revenue for 2022 expected to be in the range of $178 to $189 million.
- MACI revenue expected to be in the range of $132 to $141 million.
- Epicel revenue expected to be in the range of $45.5 to $47.5 million.
- Gross margin expected to be approximately 70%.
- Adjusted EBITDA margin expected to be approximately 21%.
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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