Vericel (NASDAQ:VCEL) Posts Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Beat estimates and strong Q1 — Vericel reported EPS of ($0.12), beating estimates by $0.03, and revenue of $68.4M (+30% YoY), with record Q1 metrics including ~72% gross margin, adjusted EBITDA of ~$9.6M (tripled YoY) and $15.1M free cash flow with ~$211M in cash.
• Raised 2026 guidance and commercial momentum — Management lifted 2026 revenue guidance by $10M to $326M–$336M and raised MACI guidance, citing an expanded sales force, record biopsies/accelerating implants, and expected BARDA NexoBrid procurement of ~$5M–$6M in H2.
• Capacity, market reaction and analyst view — The FDA approved commercial manufacturing at the new Burlington facility to support U.S. growth and a planned UK MACI submission, while shares fell ~4.5% to $35.13 despite multiple buy ratings and a consensus price target of $55.40; insiders sold modestly and several institutions added positions.

Vericel (NASDAQ:VCEL - Get Free Report) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.03, FiscalAI reports. Vericel had a return on equity of 5.17% and a net margin of 5.98%.The business had revenue of $68.43 million for the quarter, compared to the consensus estimate of $63.68 million. During the same quarter in the prior year, the business posted ($0.23) EPS. The business's revenue for the quarter was up 30.1% on a year-over-year basis.

Here are the key takeaways from Vericel's conference call:

• Record Q1 financials — total revenue of $68.4M (+30% YoY), MACI $56.4M (+22%), gross margin ~72%, adjusted EBITDA ~ $9.6M (tripled YoY), and free cash flow $15.1M with ~$211M cash and investments.
• Raised 2026 guidance — total revenue guidance increased by $10M to $326M–$336M; MACI guidance lifted to $282M–$288M and Burn Care to $44M–$48M, with expected NexoBrid BARDA procurement revenue of ~$5M–$6M in H2.
• Commercial momentum for MACI — expanded sales force drove record biopsies, accelerating implants and deeper per‑surgeon penetration; MACI Arthro trainees now account for >50% of implants and early investigator data suggests less post‑op pain and faster recovery.
• Capacity and international expansion — FDA approved commercial manufacturing at the new Burlington facility to support U.S. growth and enable a planned MACI marketing submission in the U.K. later this year (targeting a possible 2027 launch).
• Management remains prudent — full‑year outlook assumes no implicit MACI acceleration, accounts for incremental costs (new facility, salesforce expansion, MACI ankle trial and life‑cycle investments), and future BARDA optional awards and conversion improvements remain uncertain.

Vericel Stock Down 4.5%

NASDAQ:VCEL traded down $1.65 during mid-day trading on Thursday, reaching $35.13. 1,192,576 shares of the stock were exchanged, compared to its average volume of 538,314. The company has a 50 day simple moving average of $33.93 and a 200-day simple moving average of $36.20. The stock has a market capitalization of $1.79 billion, a P/E ratio of 113.32 and a beta of 1.15. Vericel has a 1 year low of $28.95 and a 1 year high of $45.97.

Analysts Set New Price Targets

A number of research analysts have recently commented on VCEL shares. Leerink Partners reiterated an "outperform" rating and issued a $46.00 price objective on shares of Vericel in a report on Tuesday, March 10th. Truist Financial dropped their price objective on Vericel from $48.00 to $42.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. Wall Street Zen upgraded Vericel from a "hold" rating to a "buy" rating in a research note on Saturday, March 28th. Finally, HC Wainwright raised their price target on Vericel from $60.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Vericel currently has an average rating of "Moderate Buy" and a consensus price target of $55.40.

Insider Transactions at Vericel

In related news, insider Jonathan Mark Hopper sold 3,472 shares of the firm's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $35.00, for a total transaction of $121,520.00. Following the transaction, the insider owned 75,556 shares in the company, valued at $2,644,460. This trade represents a 4.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC purchased a new position in shares of Vericel in the 4th quarter valued at approximately $300,000. Empowered Funds LLC purchased a new position in shares of Vericel in the 4th quarter valued at approximately $58,000. XTX Topco Ltd purchased a new position in shares of Vericel in the 4th quarter valued at approximately $668,000. Susquehanna Portfolio Strategies LLC grew its stake in shares of Vericel by 43.5% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 135,054 shares of the biotechnology company's stock valued at $4,863,000 after purchasing an additional 40,948 shares during the last quarter. Finally, Osterweis Capital Management Inc. grew its stake in shares of Vericel by 4.8% in the 4th quarter. Osterweis Capital Management Inc. now owns 322,975 shares of the biotechnology company's stock valued at $11,630,000 after purchasing an additional 14,920 shares during the last quarter.

About Vericel

Vericel Corporation is a biotechnology company specializing in the development, manufacturing and commercialization of cell-based therapies for patients with severe diseases and conditions. The company's expertise lies in regenerative medicine, where it harnesses the power of autologous cell processing to create products designed to restore function and promote healing in damaged tissues.

Vericel currently markets two FDA-approved therapies. MACI® (autologous cultured chondrocytes on porcine collagen membrane) is indicated for the repair of symptomatic cartilage defects of the knee in adult patients.

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