Business
Vericel Announces Preliminary 2024 Financial Results, 2025 Financial Guidance and Increased Mid-Term Profitability Targets
Full-Year 2024 Total Revenue Growth of 20% and Adjusted EBITDA Growth of Approximately 55% MACI Full-Year 2024 Revenue Growth of 20%, with Fourth Quarter
About this update from Vericel Corporation
[{"type":"text","content":"Full-Year 2024 Total Revenue Growth of 20% and Adjusted EBITDA Growth of Approximately 55% MACI Full-Year 2024 Revenue Growth of 20%, with Fourth Quarter Revenue of $68.2 to $68.7 Million Highest Quarterly MACI Implants, Surgeons, and Biopsies Since Launch and Strong Early MACI Arthro Launch Indicators Record Fourth Quarter Gross Margin of Approximately 77% and Adjusted EBITDA Margin of 39% 2025 Total Revenue Guidance of 20% to 23% Growth Mid-Term Profitability Targets Increased to Gross Margin in the High-70% Range and Adjusted EBITDA Margin in the High-30% Range CAMBRIDGE, Mass., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Vericel Corporation (NASDAQ:VCEL), a leader in advanced therapies for the sports medicine and severe burn care markets, today announced preliminary, unaudited financial results for the fourth quarter and year ended December 31, 2024, full-year 2025 financial guidance and updated mid-term profitability targets. Preliminary, Unaudited Full-Year 2024 Financial Results Total net revenue expected to be approximately $237 to $237.5 million, representing 20% growthMACI® net revenue expected to be approximately $197.2 to $197.7 million, representing 20% growthBurn Care net revenue expected to be approximately $40 million, representing 22% growth, consisting of approximately $36.6 million of Epicel® revenue and $3.3 million of NexoBrid® revenueGross margin expected to be approximately 72.5%Achieved Full-Year GAAP Net Income profitabilityNon-GAAP adjusted EBITDA margin expected to be approximately 22%As of December 31, 2024, the Company had approximately $167 million in cash, restricted cash and investments, and no debt, an increase of approximately $16 million for the quarter Preliminary, Unaudited Fourth Quarter Financial Results Total net revenue expected to be approximately $75.2 million to $75.7 millionMACI net revenue expected to be approximately $68.2 to $68.7 million, representing 20% to 21% growth versus the prior year and approximately 53% growth versus the prior quarterBurn Care net revenue expected to be approximately $7 million, consisting of approximately $6 million of Epicel revenue and $1 million of NexoBrid revenueGross margin expected to be approximately 77%GAAP Net Income expected to be approximately $17.5 to $18.5 millionNon-GAAP adjusted EBITDA margin expected to be approximately 39% Key Business Highlights...