Vericel Reports First Quarter 2025 Financial Results and Raises Full-Year Profitability Guidance

Financial Performance - Total net revenue for Q1 2025 was $52.6 million, an increase from$51.3 million in Q1 2024 [5][21] - MACI net revenue grew by 15% to $46.3 million compared to the previous year [5][7] - Burn Care net revenue was$6.3 million, comprising $5.0 million from Epicel and$1.3 million from NexoBrid [5] - Gross margin remained stable at 69% [8] - The net loss for the quarter was $11.2 million, or$0.23 per diluted share, compared to a net loss of $3.9 million, or$0.08 per diluted share, in Q1 2024 [10][21] - Non-GAAP adjusted EBITDA for the quarter was $3.2 million, down from$7.2 million in Q1 2024 [10][22] Business Highlights - Approximately 400 MACI Arthro surgeons have been trained to date, with a year-to-date biopsy growth exceeding 30% for these trained surgeons [5][4] - The company reported the second highest number of MACI biopsies and surgeons taking biopsies since the product launch, with March recording the highest number of biopsies in any month since launch [5] - NexoBrid revenue increased by 207% year-over-year and 31% quarter-over-quarter [5] - Epicel saw the highest number of biopsies in a quarter since 2023 during Q1 2025 [5] Future Guidance - The company expects second quarter total revenue and MACI revenue growth to be in the low- to mid-20% range [5][6] - Full-year 2025 revenue guidance has been reaffirmed, with expected growth of 20% to 23% [6] - Profitability guidance has been raised to a gross margin of 74% and an adjusted EBITDA margin of 26% for the full year [6]