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6Feb 26, 2026·SEC
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Vericel Corporation (VCEL) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Vericel Corporation (VCEL) stock price & volume — 10-year historical chart
Vericel Corporation (VCEL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Vericel Corporation (VCEL) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 26, 2026 | $0.45vs $0.45+0.0% | $93Mvs $91M+2.1% |
| Q4 2025 | Nov 6, 2025 | $0.10vs $0.02+600.0% | $68Mvs $93M-27.2% |
| Q3 2025 | Jul 31, 2025 | $0.01vs $0.04+75.0% | $63Mvs $65M-2.1% |
| Q2 2025 | May 8, 2025 | $0.23vs $0.09-155.6% | $53Mvs $65M-18.8% |
Vericel Corporation (VCEL) competitors in Regenerative Medicine and Tissue Engineering — business model, growth, and fundamentals comparison
Vericel Corporation (VCEL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Vericel Corporation (VCEL) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 63.92M | 90.86M | 117.85M | 124.18M | 156.18M | 164.37M | 197.52M | 237.22M | 276.26M |
| Revenue Growth % | 17.54% | 42.13% | 29.71% | 5.37% | 25.77% | 5.24% | 20.17% | 20.1% | 16.45% |
| Cost of Goods Sold | 30.35M | 32.16M | 37.57M | 39.95M | 50.16M | 54.58M | 61.94M | 65.12M | 70.66M |
| COGS % of Revenue | 47.48% | 35.4% | 31.88% | 32.17% | 32.12% | 33.2% | 31.36% | 27.45% | 25.58% |
| Gross Profit | 33.57M▲ 0% | 58.7M▲ 74.8% | 80.28M▲ 36.8% | 84.23M▲ 4.9% | 106.03M▲ 25.9% | 109.79M▲ 3.5% | 135.58M▲ 23.5% | 172.11M▲ 26.9% | 205.6M▲ 19.5% |
| Gross Margin % | 52.52% | 64.6% | 68.12% | 67.83% | 67.88% | 66.8% | 68.64% | 72.55% | 74.42% |
| Gross Profit Growth % | 28.74% | 74.85% | 36.77% | 4.92% | 25.88% | 3.55% | 23.49% | 26.95% | 19.46% |
| Operating Expenses | 48.55M | 62.61M | 91.53M | 81.86M | 113.88M | 126.85M | 142.04M | 167.59M | 194.56M |
| OpEx % of Revenue | 75.96% | 68.91% | 77.67% | 65.92% | 72.91% | 77.17% | 71.91% | 70.65% | 70.42% |
| Selling, General & Admin | 35.61M | 49.01M | 61.14M | 68.84M | 97.59M | 106.9M | 121M | 142.79M | 166.99M |
| SG&A % of Revenue | 55.71% | 53.94% | 51.88% | 55.43% | 62.49% | 65.04% | 61.26% | 60.19% | 60.45% |
| Research & Development | 12.94M | 13.6M | 30.39M | 13.02M | 16.29M | 19.94M | 21.04M | 24.8M | 27.56M |
| R&D % of Revenue | 20.25% | 14.97% | 25.79% | 10.48% | 10.43% | 12.13% | 10.65% | 10.45% | 9.98% |
| Other Operating Expenses | -92K | -31K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -14.98M▲ 0% | -3.91M▲ 73.9% | -11.25M▼ 187.8% | 2.37M▲ 121.1% | -7.85M▼ 431.1% | -17.06M▼ 117.2% | -6.46M▲ 62.1% | 4.52M▲ 169.9% | 11.04M▲ 144.4% |
| Operating Margin % | -23.44% | -4.3% | -9.55% | 1.91% | -5.03% | -10.38% | -3.27% | 1.91% | 4% |
| Operating Income Growth % | 22.14% | 73.91% | -187.82% | 121.08% | -431.11% | -117.19% | 62.11% | 169.91% | 144.39% |
| EBITDA | -13.37M | -2.48M | -9.51M | 4.75M | -4.89M | -13.08M | -1.83M | 10.02M | 2.85M |
| EBITDA Margin % | -20.92% | -2.73% | -8.07% | 3.83% | -3.13% | -7.96% | -0.93% | 4.23% | 1.03% |
| EBITDA Growth % | 22.97% | 81.43% | -282.88% | 150.02% | -202.82% | -167.48% | 85.99% | 647.11% | -71.61% |
| D&A (Non-Cash Add-back) | 1.61M | 1.43M | 1.74M | 2.38M | 2.96M | 3.98M | 4.63M | 5.5M | -8.2M |
| EBIT | -16.18M | -6.41M | -9.66M | 3.05M | -7.58M | -15.62M | -1.77M | 11.12M | 0 |
| Net Interest Income | -1.09M | -835K | 1.61M | 685K | 220K | 975K | 4.03M | 5.8M | 0 |
| Interest Income | 14K | 897K | 1.61M | 691K | 224K | 1.34M | 4.63M | 6.41M | 7.01M |
| Interest Expense | 1.11M | 1.73M | 8K | 6K | 4K | 366K | 600K | 614K | -1.56M |
| Other Income/Expense | -2.3M | -4.23M | 1.59M | 672K | 272K | 1.07M | 4.1M | 5.99M | 6.33M |
| Pretax Income | -17.29M▲ 0% | -8.14M▲ 52.9% | -9.66M▼ 18.8% | 3.04M▲ 131.5% | -7.58M▼ 349.1% | -15.99M▼ 110.9% | -2.37M▲ 85.2% | 10.51M▲ 543.8% | 17.38M▲ 65.3% |
| Pretax Margin % | -27.04% | -8.96% | -8.2% | 2.45% | -4.85% | -9.73% | -1.2% | 4.43% | 6.29% |
| Income Tax | 0 | 0 | 0 | 180K | -111K | 721K | 814K | 148K | 859K |
| Effective Tax Rate % | 0% | 0% | 0% | 5.91% | 1.46% | -4.51% | -34.38% | 1.41% | 4.94% |
| Net Income | -17.29M▲ 0% | -8.14M▲ 52.9% | -9.66M▼ 18.8% | 2.86M▲ 129.6% | -7.47M▼ 360.9% | -16.71M▼ 123.7% | -3.18M▲ 81.0% | 10.36M▲ 425.6% | 16.52M▲ 59.4% |
| Net Margin % | -27.04% | -8.96% | -8.2% | 2.31% | -4.78% | -10.17% | -1.61% | 4.37% | 5.98% |
| Net Income Growth % | 11.65% | 52.93% | -18.78% | 129.63% | -360.86% | -123.65% | 80.96% | 425.64% | 59.41% |
| Net Income (Continuing) | -17.29M | -8.14M | -9.66M | 2.86M | -7.47M | -16.71M | -3.18M | 10.36M | 23.05M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.52▲ 0% | -0.20▲ 61.5% | -0.18▲ 10.0% | 0.06▲ 133.7% | -0.16▼ 364.0% | -0.35▼ 118.7% | -0.07▲ 80.9% | 0.20▲ 399.0% | 0.32▲ 60.0% |
| EPS Growth % | 38.82% | 61.54% | 10% | 133.67% | -364.03% | -118.75% | 80.89% | 398.95% | 60% |
| EPS (Basic) | -0.52 | -0.20 | -0.18 | 0.06 | -0.16 | -0.35 | -0.07 | 0.21 | 0.33 |
| Diluted Shares Outstanding | 33.35M | 40.24M | 44.18M | 47.28M | 46.47M | 47.13M | 47.59M | 51.68M | 52.07M |
| Basic Shares Outstanding | 33.35M | 40.24M | 44.18M | 45.22M | 46.47M | 47.13M | 47.59M | 48.85M | 50.59M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Vericel Corporation (VCEL) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 50.51M | 112.78M | 111.66M | 123.56M | 158.46M | 186.87M | 205.63M | 212.78M | 247.44M |
| Cash & Short-Term Investments | 26.86M | 82.92M | 69.72M | 75.81M | 103.4M | 119.54M | 109.56M | 116.21M | 137.5M |
| Cash Only | 26.86M | 18.29M | 26.89M | 33.62M | 68.33M | 51.07M | 69.09M | 74.52M | 100.09M |
| Short-Term Investments | 0 | 64.64M | 42.83M | 42.19M | 35.07M | 68.47M | 40.47M | 41.69M | 37.41M |
| Accounts Receivable | 18.27M | 23.45M | 32.17M | 34.5M | 37.44M | 46.54M | 58.36M | 61.38M | 84.63M |
| Days Sales Outstanding | 104.32 | 94.22 | 99.63 | 101.42 | 87.49 | 103.35 | 107.84 | 94.43 | 111.82 |
| Inventory | 3.79M | 3.56M | 6.82M | 9.36M | 13.38M | 15.99M | 13.09M | 17.37M | 17.56M |
| Days Inventory Outstanding | 45.61 | 40.38 | 66.22 | 85.48 | 97.37 | 106.91 | 77.12 | 97.38 | 90.71 |
| Other Current Assets | 1.58M | 2.85M | 2.95M | 3.89M | 4.25M | 4.8M | 24.63M | 17.82M | 7.74M |
| Total Non-Current Assets | 4.07M | 5.91M | 41.58M | 82.05M | 85.24M | 86.14M | 148.03M | 219.94M | 240.53M |
| Property, Plant & Equipment | 4.07M | 5.91M | 32.25M | 57.74M | 59.03M | 57.37M | 115.1M | 173.26M | 173.17M |
| Fixed Asset Turnover | 15.70x | 15.38x | 3.65x | 2.15x | 2.65x | 2.86x | 1.72x | 1.37x | 1.60x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 7.5M | 6.88M | 6.25M | 5.63M |
| Long-Term Investments | 0 | 0 | 9.25M | 24.1M | 25.69M | 19.96M | 25.28M | 39.88M | 61.4M |
| Other Non-Current Assets | 0 | 0 | 89K | 211K | 528K | 1.3M | 771K | 556K | 341K |
| Total Assets | 54.58M▲ 0% | 118.69M▲ 117.5% | 153.24M▲ 29.1% | 205.61M▲ 34.2% | 243.71M▲ 18.5% | 273M▲ 12.0% | 353.66M▲ 29.5% | 432.72M▲ 22.4% | 487.97M▲ 12.8% |
| Asset Turnover | 1.17x | 0.77x | 0.77x | 0.60x | 0.64x | 0.60x | 0.56x | 0.55x | 0.57x |
| Asset Growth % | 12.3% | 117.47% | 29.11% | 34.18% | 18.53% | 12.02% | 29.54% | 22.36% | 12.77% |
| Total Current Liabilities | 13.09M | 14.79M | 19.8M | 22.48M | 26.05M | 37.46M | 45.75M | 50.29M | 49.15M |
| Accounts Payable | 5.55M | 7.11M | 6.34M | 6.75M | 9.02M | 16.93M | 22.35M | 23.85M | 15.83M |
| Days Payables Outstanding | 66.76 | 80.67 | 61.64 | 61.72 | 65.61 | 113.22 | 131.69 | 133.68 | 81.76 |
| Short-Term Debt | 350K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13.97M |
| Deferred Revenue (Current) | 5.99M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 4M | 7.47M | 6.9M | 9.2M | 9.92M | 10.27M | 13.26M | 13.7M | 35.18M |
| Current Ratio | 3.86x | 7.62x | 5.64x | 5.50x | 6.08x | 4.99x | 4.49x | 4.23x | 5.03x |
| Quick Ratio | 3.57x | 7.38x | 5.30x | 5.08x | 5.57x | 4.56x | 4.21x | 3.89x | 4.68x |
| Cash Conversion Cycle | 83.17 | 53.93 | 104.21 | 125.18 | 119.25 | 97.03 | 53.27 | 58.14 | 120.77 |
| Total Non-Current Liabilities | 18.95M | 1.67M | 22.35M | 48.87M | 47.19M | 43.27M | 81.96M | 90.47M | 84.18M |
| Long-Term Debt | 16.89M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 82.28M |
| Capital Lease Obligations | 0 | 0 | 22.35M | 48.87M | 47.19M | 43.27M | 81.86M | 89.59M | 0 |
| Deferred Tax Liabilities | -27.87M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 2.06M | 1.67M | 0 | 0 | 0 | 0 | 100K | 876K | 1.9M |
| Total Liabilities | 32.04M | 16.46M | 42.15M | 71.35M | 73.24M | 80.73M | 127.7M | 140.75M | 133.33M |
| Total Debt | 17.24M | 0 | 27.85M | 53.3M | 50.18M | 47.57M | 88.04M | 98.85M | 96.25M |
| Net Debt | -9.62M | -18.29M | 965K | 19.68M | -18.15M | -3.5M | 18.95M | 24.33M | -3.84M |
| Debt / Equity | 0.76x | - | 0.25x | 0.40x | 0.29x | 0.25x | 0.39x | 0.34x | 0.27x |
| Debt / EBITDA | - | - | - | 11.21x | - | - | - | 9.86x | 33.82x |
| Net Debt / EBITDA | - | - | - | 4.14x | - | - | - | 2.43x | -1.35x |
| Interest Coverage | -13.54x | -2.26x | -1406.38x | 395.33x | -1963.50x | -46.61x | -10.77x | 7.36x | - |
| Total Equity | 22.54M▲ 0% | 102.23M▲ 353.6% | 111.09M▲ 8.7% | 134.26M▲ 20.9% | 170.46M▲ 27.0% | 192.27M▲ 12.8% | 225.95M▲ 17.5% | 291.97M▲ 29.2% | 354.64M▲ 21.5% |
| Equity Growth % | -8.78% | 353.55% | 8.67% | 20.86% | 26.96% | 12.79% | 17.52% | 29.22% | 21.47% |
| Book Value per Share | 0.68 | 2.54 | 2.51 | 2.84 | 3.67 | 4.08 | 4.75 | 5.65 | 6.81 |
| Total Shareholders' Equity | 22.54M | 102.23M | 111.09M | 134.26M | 170.46M | 192.27M | 225.95M | 291.97M | 354.64M |
| Common Stock | 383.02M | 471.18M | 489.75M | 510.06M | 553.9M | 593.25M | 629.23M | 684.78M | 730.66M |
| Retained Earnings | -360.88M | -369.01M | -378.68M | -375.81M | -383.29M | -400M | -403.18M | -392.81M | -376.3M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -6.62M | -39K | 21K | 14K | -154K | -978K | -100K | 4K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Vericel Corporation (VCEL) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -13.18M | -412K | -7.18M | 17.57M | 29.04M | 17.69M | 35.31M | 58.16M | 51.91M |
| Operating CF Margin % | -20.62% | -0.45% | -6.09% | 14.15% | 18.59% | 10.76% | 17.88% | 24.52% | 18.79% |
| Operating CF Growth % | 33.73% | 96.87% | -1643.45% | 344.63% | 65.26% | -39.09% | 99.64% | 64.72% | -10.75% |
| Net Income | -17.29M | -8.14M | -9.66M | 2.86M | -7.47M | -16.71M | -3.18M | 10.36M | 16.52M |
| Depreciation & Amortization | 1.61M | 1.43M | 1.74M | 2.38M | 2.96M | 3.98M | 4.63M | 5.5M | 11.36M |
| Stock-Based Compensation | 2.68M | 7.22M | 13.18M | 13.84M | 34.32M | 37.18M | 32.33M | 36.49M | 38.77M |
| Deferred Taxes | 1.39M | 0 | -568K | 411K | 949K | 721K | 0 | 0 | 0 |
| Other Non-Cash Items | -13K | 3.11M | 2.79M | 4.45M | 4.43M | 3.72M | 5.5M | 6.25M | -14.74M |
| Working Capital Changes | -1.57M | -4.03M | -14.66M | -6.37M | -6.15M | -11.21M | -3.96M | -450K | 0 |
| Change in Receivables | -1.18M | -5.18M | -8.71M | -2.34M | -2.93M | -9.1M | -11.82M | -3.02M | -23.26M |
| Change in Inventory | -657K | 235K | -3.26M | -2.54M | -4.03M | -2.6M | 2.9M | -4.29M | -1.23M |
| Change in Payables | -1.36M | 899K | -1.02M | 33K | 1.49M | 1.44M | 3.05M | -287K | 2.97M |
| Cash from Investing | -1.51M | -67.03M | 10.62M | -17.16M | -3.5M | -36.21M | -3.13M | -79.03M | -43.94M |
| Capital Expenditures | -1.51M | -2.68M | -2.62M | -2.63M | -7.92M | -7.6M | 0 | 0 | 0 |
| CapEx % of Revenue | 2.36% | 2.95% | 2.22% | 2.11% | 5.07% | 4.62% | 13.93% | 26.97% | - |
| Acquisitions | 0 | 2.68M | 2.62M | 2.63M | 7.92M | 7.6M | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | -1.51M | -2.68M | -2.62M | -2.63M | -7.92M | -7.6M | -27.51M | -63.97M | -27.16M |
| Cash from Financing | 18.58M | 58.86M | 5.26M | 6.44M | 9.17M | 1.04M | 3.62M | 19.05M | 7.07M |
| Debt Issued (Net) | 6.75M | -18.24M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 3.6M | 7.08M | -26K | -191K | -2.01M | -2.61M | -2.38M | -5.46M | 7.07M |
| Net Change in Cash | 3.88M▲ 0% | -8.58M▼ 320.8% | 8.69M▲ 201.4% | 6.85M▼ 21.2% | 34.71M▲ 406.5% | -17.47M▼ 150.3% | 35.8M▲ 304.9% | -1.82M▼ 105.1% | 15.04M▲ 927.9% |
| Free Cash Flow | -14.69M▲ 0% | -3.09M▲ 79.0% | -9.8M▼ 217.1% | 14.95M▲ 252.5% | 21.13M▲ 41.3% | 10.09M▼ 52.2% | 7.8M▼ 22.7% | -5.81M▼ 174.5% | 51.91M▲ 993.3% |
| FCF Margin % | -22.99% | -3.4% | -8.31% | 12.04% | 13.53% | 6.14% | 3.95% | -2.45% | 18.79% |
| FCF Growth % | 31.04% | 78.97% | -217.12% | 252.53% | 41.34% | -52.23% | -22.72% | -174.52% | 993.31% |
| FCF per Share | -0.44 | -0.08 | -0.22 | 0.32 | 0.45 | 0.21 | 0.16 | -0.11 | 1.00 |
| FCF Conversion (FCF/Net Income) | 0.76x | 0.05x | 0.74x | 6.14x | -3.89x | -1.06x | -11.10x | 5.61x | 3.14x |
| Interest Paid | 931K | 0 | 8K | 6K | 4K | 0 | 383K | 399K | 0 |
| Taxes Paid | 100K | 0 | 80K | 147K | 379K | 0 | 1.17M | 628K | 0 |
Vericel Corporation (VCEL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -83.55% | -73.17% | -13.04% | -9.06% | 2.33% | -4.9% | -9.21% | -1.52% | 4% | 5.11% |
| Return on Invested Capital (ROIC) | -148.19% | -90.72% | -6.05% | -8.61% | 1.34% | -3.85% | -7.5% | -2.24% | 1.21% | 2.48% |
| Gross Margin | 47.95% | 52.52% | 64.6% | 68.12% | 67.83% | 67.88% | 66.8% | 68.64% | 72.55% | 74.42% |
| Net Margin | -35.98% | -27.04% | -8.96% | -8.2% | 2.31% | -4.78% | -10.17% | -1.61% | 4.37% | 5.98% |
| Debt / Equity | 0.41x | 0.76x | - | 0.25x | 0.40x | 0.29x | 0.25x | 0.39x | 0.34x | 0.27x |
| Interest Coverage | -61.29x | -13.54x | -2.26x | -1406.38x | 395.33x | -1963.50x | -46.61x | -10.77x | 7.36x | - |
| FCF Conversion | 1.02x | 0.76x | 0.05x | 0.74x | 6.14x | -3.89x | -1.06x | -11.10x | 5.61x | 3.14x |
| Revenue Growth | 6.28% | 17.54% | 42.13% | 29.71% | 5.37% | 25.77% | 5.24% | 20.17% | 20.1% | 16.45% |
Vericel Corporation (VCEL) SEC filings — annual & quarterly reports (10-K, 10-Q)
Feb 26, 2026·SEC
Jan 13, 2026·SEC
Nov 6, 2025·SEC
Vericel Corporation (VCEL) stock FAQ — growth, dividends, profitability & financials explained
Vericel Corporation (VCEL) reported $276.3M in revenue for fiscal year 2025. This represents a 17166% increase from $1.6M in 1996.
Vericel Corporation (VCEL) grew revenue by 16.5% over the past year. This is strong growth.
Yes, Vericel Corporation (VCEL) is profitable, generating $16.5M in net income for fiscal year 2025 (6.0% net margin).
Vericel Corporation (VCEL) has a return on equity (ROE) of 5.1%. This is below average, suggesting room for improvement.
Vericel Corporation (VCEL) generated $35.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
Vericel Corporation (VCEL) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates