In Q4 2025, Vericel delivered 23% total revenue growth driven by MACI performance, achieved a record 79% gross margin, and increased net income and adjusted EBITDA compared to the prior year quarter.
Total revenue increased 23% to 92918000.
MACI revenue grew 23% to 84100000.
Gross margin expanded to 79%.
Adjusted EBITDA increased 25% to 37281000 with a 40% margin.
For 2026, Vericel expects continued strong growth in revenue and profitability, with total revenue between 316000000 and 326000000 and adjusted EBITDA margin of approximately 27%.
Visualization of income flow from segment revenue to net income
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