Vericel (VCEL)2025-05-08 12:04Financial Performance - Total net revenue for Q1 2025 was 51.3 million in Q1 2024[7] - MACI net revenue reached 6.3 million, consisting of 1.3 million from NexoBrid[5] - Gross margin for Q1 2025 was 69%, consistent with the same period in 2024[8] - The net loss for Q1 2025 was 0.23 per diluted share, compared to a net loss of 0.08 per diluted share, in Q1 2024[12] - Non-GAAP adjusted EBITDA for Q1 2025 was 7.2 million, or 14% of net revenue, in Q1 2024[12] - Full-year total revenue guidance is reaffirmed with expected growth of 20% to 23%[10] - The company raised full-year profitability guidance to a gross margin of 74% and an adjusted EBITDA margin of 26%[10] - NexoBrid revenue increased by 207% year-over-year and 31% quarter-over-quarter[9] Asset and Liability Management - Total current assets decreased from 197,640 million in March 2025, a decline of approximately 7.1%[26] - Cash and cash equivalents slightly decreased from 73,490 million, a reduction of about 1.4%[26] - Total liabilities decreased from 129,100 million in March 2025, a decrease of approximately 8.3%[26] - Total shareholders' equity increased from 295,487 million, reflecting a growth of about 1.8%[26] - Accounts payable decreased significantly from 16,751 million, a reduction of approximately 29.6%[26] - Accrued expenses decreased from 11,418 million, a decline of about 33.3%[26] - Current liabilities decreased from 39,448 million, a decrease of approximately 21.5%[26] - Long-term investments increased from 43,342 million, reflecting an increase of about 8.7%[26] - Operating lease liabilities slightly decreased from 87,804 million, a reduction of about 2.0%[26] - Total assets decreased from 424,587 million, a decline of approximately 1.9%[26] Operational Highlights - The company trained approximately 400 MACI Arthro surgeons to date, with year-to-date biopsy growth exceeding 30% for trained surgeons[5]