Slide 1: Vericel Q3 2024 Results
VERICEL Q3 2024 RESULTS NOVEMBER 7, 2024
Slide 2: Safe Harbor
Safe Harbor Vericel cautions you that all statements other than statements Arthro , Epicel®, and NexoBrid®, growth in profit, gross global economy and capital markets resulting from the conflict of historical fact included in this presentation that address margins and operating margins, the ability
Slide 3: Q3 2024 and YTD 2024 Financial Highlights
Q3 2024 Financial Highlights YTD 2024 Financial Highlights Record Q3 total revenue of $57.9M Total net revenue increased 22% to $161.8M MACI revenue growth of 19% to $44.7M MACI net revenue growth of 19% to $129.0M Burn Care revenue growth of 66% to $13.2M Burn Care net revenue growth of 35% to $32.
Slide 4: Key Brand Updates
Key Brand Updates MACI Burn Care Record third quarter MACI revenue Highest quarterly Epicel revenue to date Record third quarter highs for MACI biopsies and More than 70 NexoBrid Pharmacy and the number of surgeons taking biopsies Therapeutics (P&T) committee submissions, with Announced FDA approval
Slide 5: Q3 2024 Revenue Details
Q3 2024 Revenue Details Total Revenue ($M) $80 $70 $57.9 NexoBrid $60 $1.1 $50 $45.6 $12.2 19% MACI growth and Epicel $40 $34.5 $38.6 $0.6 $7.4 highest quarterly Epicel $32.3 $0.2* MACI $1.2* $0.8 * $7.3 revenue since launch $30 $9.8 $6.7 $20 $44.7 $37.6 $31.0 $10 $24.4 $23.9 $0 Q3 2020 Q3 2021 Q3 2
Slide 6: Q3 2024 Financial Results
Q3 2024 Financial Results Three Months Ended Nine Months Ended September 30, September 30, Unaudited, amounts in millions except per share amounts 2024 2023 2024 2023 Net Revenue $57.9 $45.6 $161.8 $132.5 Gross Profit 41.7 30.6 113.6 87.1 Gross Margin 72% 67% 70% 66% Research and Development 6.1 5.7
Slide 7: 2024 Financial Guidance
2024 Financial Guidance Total Revenue Gross Margin Adjusted EBITDA Margin $238M to $242M +20-23% +~300 bps 72% +~500 bps $Millions % of Revenue % of Revenue 22% +20% +~200 bps $198M 69% +~200 bps $164M 67% 17% 15% 2022 2023 2024 Latest 2022 2023 2024 Latest 2022 2023 2024 Latest Guidance Guidance Gu
Slide 8: Reconciliation of Reported Net Loss (GAAP) to Adjusted EBITDA (Non-GAAP)
Reconciliation of Reported Net Loss (GAAP) to Adjusted EBITDA (Non- GAAP Measure) – Unaudited Three Months Ended Nine Months Ended (unaudited, amounts in thousands) September 30, September 30, Adjusted EBITDA (In Thousands) 2024 2023 2024 2023 Net Loss (GAAP) $ (901) $ (3,660) $ (9,445) $ (16,175) S