Financial Data and Key Metrics Changes - Total revenue for 2021 increased by 26% to approximately $156 million, with adjusted EBITDA of nearly $30 million and operating cash flow of $29 million [8][21][26] - Fourth quarter total net revenue increased by 5% to $47.6 million compared to Q4 2020, with MACI revenue growing by 8% to $37.3 million and Epicel revenue remaining stable at $9.7 million [22][21][24] Business Line Data and Key Metrics Changes - MACI revenue for the full year grew by 18% to $111.6 million, while Epicel revenue grew by 51% to $41.5 million [21] - MACI quarterly growth achieved record revenue in Q4 despite COVID-19 impacts, with a sequential increase of 56% compared to Q3 2021 [9][22] - Epicel's growth was driven by over 30% growth in the number of biopsies and burns treated, with a significant increase in average grafts per patient [12][13] Market Data and Key Metrics Changes - The company expects total revenue in 2022 to increase to approximately $178 million to $189 million, with MACI revenue projected between $132 million to $141 million [14][28] - The addressable market for Epicel is estimated to be over $200 million, with expectations for continued penetration [13] Company Strategy and Development Direction - The company plans to resubmit the NexoBrid BLA by midyear 2022, aiming for a potential commercial launch in the U.S. in the first half of 2023 [18] - A new advanced cell therapy manufacturing facility is planned in the Boston area, expected to begin operations in 2025, to support growth for MACI and Epicel [19][82] Management's Comments on Operating Environment and Future Outlook - Management noted that while COVID-19 has impacted MACI implant growth, they expect to see improvements in patient flow and conversion rates throughout 2022 [15][16] - The company anticipates year-over-year quarterly growth rates for MACI to increase each quarter in 2022, with a compounded annual growth rate of over 20% expected to be maintained [17][28] Other Important Information - The company ended 2021 with approximately $129 million in cash and investments and no debt, demonstrating strong financial health [26] - Operating expenses for Q4 2021 were $29.9 million, an increase from $21.4 million in Q4 2020, primarily due to higher non-cash stock compensation expenses [25] Q&A Session Summary Question: How much of the MACI backlog is assumed in the guidance for this year? - Management indicated that the backlog is closer to $10 million and that a substantial part of this backlog is assumed in the higher end of the revenue guidance [36] Question: What are the pressures on costs due to inflation? - Management acknowledged rising labor costs and inflationary pressures but noted that many raw material costs are secured through long-term contracts [40][41] Question: How does the company plan to maintain contact with patients in the biopsy backlog? - The company has initiatives in place to maintain contact with surgeons and patients to ensure that biopsies do not go stale [46][48] Question: What are the expectations for the salesforce's productivity? - Management expects to return to previous productivity levels of around $2 million per rep as the market normalizes [79][85] Question: What is the growth outlook for Epicel in 2022? - Management anticipates low double-digit growth for Epicel, driven by adding more burn centers and increasing patient volume [70][71] Question: What are the timelines for the new manufacturing facility and pipeline growth? - The new facility is expected to support long-term growth for MACI and Epicel, with timelines for FDA discussions on new delivery systems planned for later in the year [18][86]

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-35280 VERICEL CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Michigan 94 ...

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Financial Highlights - Vericel reported total net revenue of $124.2 million in 2020[4] - The company experienced approximately 25% revenue CAGR since the launch of MACI in 2017[4] - As of September 30, 2021, Vericel had approximately $119 million in cash and investments with no debt[8, 65] - Through Q3 2021, total revenue growth was 38%, with Epicel year-to-date revenue exceeding full-year 2020 revenue[6] Product Portfolio & Market - Vericel focuses on sports medicine and severe burn care markets with innovative cell therapies and specialty biologics[3] - The company's portfolio includes MACI for cartilage repair, Epicel for permanent skin replacement, and NexoBrid for eschar removal[3] - The addressable market for cartilage repair in the U S is over $2 billion[4, 36] - The addressable market for the burn franchise in the U S is over $200 million[60] MACI (Sports Medicine) - MACI demonstrated statistically significantly greater improvement in KOOS pain and function scores compared to microfracture at year 2[23] - Published MACI rehabilitation protocols achieve full weight-bearing in 6-8 weeks compared to 10-12 weeks for published Carticel rehabilitation protocols[35] NexoBrid & Epicel (Severe Burns) - NexoBrid is an investigational product in the U S with orphan biologic designation[49, 50] - Epicel is the only FDA-approved permanent skin replacement for adult and pediatric patients with full-thickness burns[51] - Data demonstrates lower mortality rate in Epicel patients compared to National Burn Repository[55]

Vericel Corporation (NASDAQ:VCEL) Q3 2021 Earnings Conference Call November 9, 2021 8:30 AM ET Company Participants Eric Burns - Head of Financial Planning and Analysis & Investors Relations Nick Colangelo - President & Chief Executive Officer Joe Mara - Chief Financial Officer Conference Call Participants Ryan Zimmerman - BTIG Jeffrey Cohen - Ladenburg Thalmann Danielle Antalffy - SVB Leerink Sam Bordovsky - Truist Swayampakula Ramakanth - H.C. Wainwright Chris Cooley - Stephens Operator Ladies and gentlem ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED: September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-35280 VERICEL CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identif ...

VERICEL Q2 2021 RESULTS AUGUST 4, 2021 Safe Harbor 2 Vericel cautions you that all statements other than statements of historical fact included in this presentation that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. Although we believe that we have a reasonable basis for the forward-looking statements contained herein, they are based on current expectations about future events affecting us and are subject to r ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED: June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-35280 VERICEL CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identificati ...

Vericel Corporation (NASDAQ:VCEL) Q2 2021 Earnings Conference Call August 4, 2021 8:30 AM ET Company Participants Eric Burns - Head of Financial Planning and Analysis & Investors Relations Nick Colangelo - President & Chief Executive Officer Joe Mara - Chief Financial Officer Conference Call Participants Ryan Zimmerman - BTIG Danielle Antalffy - SVB Leerink Chris Cooley - Stephens Jeffrey Cohen - Ladenburg Thalmann Sam Bordovsky - Truist Kevin DeGeeter - Oppenheimer Arthur He - H.C. Wainwright Operator Ladi ...

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