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MARKETS / NASDAQ / VCEL
NASDAQ · BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES) · LARGE CAP

Vericel Corp. VCEL

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$276.3M
▲ 16.5% YoY
$16.5M
▲ 59.4% YoY
$24.7M
In brief

What this company does

Vericel Corporation markets two U.S. Food and Drug Administration approved autologous cell therapy products and one FDA-approved specialty biologic product in the U.S. It operates a cell manufacturing facility in Cambridge, Massachusetts, currently used for U.S. manufacturing and distribution of MACI and Epicel. As of December 31, 2025, the company employed approximately 398 full-time employees. MACI is an autologous cellularized scaffold product indicated for the repair of symptomatic, single or multiple full-thickness cartilage defects of the knee with or without bone involvement in adults. Epicel is a permanent skin replacement Humanitarian Use Device indicated for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns comprising greater than or equal to 30 percent of a patient's total body surface area. It holds an exclusive license from MediWound Ltd. for the North American rights to NexoBrid, a topically-administered biological orphan product containing proteolytic enzymes indicated for the removal of eschar in adult and pediatric patients with deep partial-thickness and/or full-thickness thermal burns.

Written from the business description in VERICEL CORPORATION's annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth
USD 276.3M
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 276.3 · Net income 16.5
100M200M200820112013201520172019202120232025
Compound annual growth
+19.1%
+17.3%
+18.4%
+42.0%
+39.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +17.3% a year over five years — but profit grew faster: net income at +42.0%, earnings per share at +39.8%.

The share count rose from 0.05B to 0.05B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
6 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 4.0% · Net 6.0%
-50000%-100000%-150000%200820112013201520172019202120232025
ROE
FY2025 · ROE 5.1%
-50%-100%200820112013201520172019202120232025

Each USD of equity produced 5 cents of profit this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 24.7
10M20M-10M-20M200820112013201520172019202120232025

Total assetsUSD 488.0M
EquityUSD 354.6M
CashUSD 100.1M
Current ratio5.03×

Equity funds 73% of total assets.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120092008
Revenue $B0.30.20.20.20.20.10.10.10.10.10.10.00.00.00.00.00.0
Operating income $B0.00.0−0.0−0.0−0.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EBITDA $B0.00.0−0.0−0.0−0.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Income tax $B0.00.00.00.0−0.00.00.00.00.00.00.00.00.0····
Net income $B0.00.0−0.0−0.0−0.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B0.0−0.00.00.00.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EPS, diluted $0.320.20−0.07−0.35−0.160.06−0.22−0.20−0.52−1.18−0.97−2.23−6.95−16.25−10.18−0.59−0.90
Dividend / sh $·················
Payout %·················
ROE %5.14.0−1.5−9.2−4.92.3−9.1−13.0−73.2−83.5−56.6−100.8···−92.3·
Shares out B0.050.050.050.050.050.050.040.040.040.030.020.020.000.000.04··

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 78 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 14 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityBiological Products, (No Diagnostic Substances)
Listed onNASDAQ
Incorporated inMichigan
Fiscal year endsDecember 31
Data on record since2008

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