Vericel Reports Third Quarter 2025 Financial Results

Core Insights - Vericel Corporation reported record total revenue of $67.5 million for Q3 2025, a 16% increase from $57.9 million in Q3 2024 [5][8] - MACI revenue grew by 25% to $55.7 million, contributing significantly to the overall revenue growth [6][10] - The company achieved a net income of $5.1 million, compared to a net loss of $0.9 million in the same quarter last year [10][11] Financial Highlights - Total net revenue for Q3 2025 was $67.5 million, up from $57.9 million in Q3 2024 [5][8] - MACI net revenue was $55.7 million, with Epicel contributing $10.4 million and NexoBrid $1.5 million [5][6] - Gross margin improved to 73.5%, up from 71.9% in Q3 2024 [6][8] - Non-GAAP adjusted EBITDA increased by 69% to $17.0 million, representing 25% of total revenue [10][22] Business Developments - Over 800 MACI Arthro surgeons have been trained to date, indicating strong market engagement [6][10] - The MACI sales force expansion is on track for completion in Q4 2025, with new hires positioned for 2026 [6][10] - The MACI Ankle™ program is set to initiate clinical studies in Q4 2025 [6][10] Guidance and Outlook - Full-year revenue guidance is set between $272 million and $276 million, with MACI expected to grow in the low 20% range [7][10] - The company reaffirmed a gross margin target of 74% and an adjusted EBITDA margin of 26% for the full year [7][10]