Slide 1: Vericel Q2 2023 Results
VERICEL Q2 2023 RESULTS AUGUST 2, 2023
Slide 2: Safe Harbor
Safe Harbor Vericel cautions you that all statements other than revenue, growth in revenue, market penetration for and potential future impacts of the COVID-19 pandemic statements of historical fact included in this presentation MACI®, Epicel®, and NexoBrid®, growth in profit, gross on our business
Slide 3: Q2 2023 Financial Highlights
Q2 2023 Financial Highlights Q2 Financial Highlights Recent MACI Growth Rates 32% 30% Epicel 27% $9.6 24% $4.4M Adjusted EBITDA $45.9M Total Revenues $10.2M $36.3 Operating Cash Flow MACI Q3 2022 Q4 2022 Q1 2023 Q2 2023 Total revenue growth of 24% and MACI trailing four-quarter growth of 28% 60% gro
Slide 4: Key Brand and Business Updates
Key Brand and Business Updates MACI Burn Care Corporate Highlights Second-quarter revenue growth of Second quarter Epicel growth of 17% Record second quarter total revenue 27%, representing the fourth straight versus the prior year and 40% of $45.9 million, with 24% growth quarter of 20%+ growth seq
Slide 5: Q2 Revenue Details
Q2 Revenue Details Total Revenue ($M) $60 $50 $45.9 NexoBrid (BARDA) $39.5 $40 $0.8 $37.0 $0.2 $9.6 MACI Second Quarter Epicel $30 $26.2 $12.2 $8.2 Net Revenue Increased MACI $5.3 $20.0 27% to $36.3 Million $20 $4.9 $36.3 $26.5 $28.6 $10 $20.8 $15.1 $0 Q2 2019 Q2 2020 Q2 2021 Q2 2022 Q2 2023 Vericel
Slide 6: Second-Quarter 2023 Financial Results
Second-Quarter 2023 Financial Results Three Months Ended Six Months Ended June 30, June 30, Unaudited, amounts in millions except per share amounts 2023 2022 2023 2022 Net Revenue $45.9 $37.0 $86.9 $73.1 Gross Profit 29.9 22.9 56.5 46.3 Gross Margin 65% 62% 65% 63% Research and Development 5.3 4.8 1
Slide 7: Arthroscopic MACI Targeting Smaller Femoral Condyle Defects
Arthroscopic MACI is Targeting Smaller Femoral Condyle Defects, Which Represents the Largest Portion of the Addressable Market Estimated Annual Addressable Patient Population (U.S.) 10%+ overall Similar penetration penetration currently as in patella would ~750,0001 MACI TAM Segmented Continues to ~
Slide 8: Increasing 2023 Revenue Guidance
Increasing 2023 Revenue Guidance 2023 Net Revenue Guidance $184M-$192M $190M-$197M Total net revenue of $190–$197 million ❖ MACI revenue of $159–$163 million ❖ Burn Care revenue of $31–$34 million $Millions Gross margin in the high-60% range $164.4 Adjusted EBITDA margin in the mid-teens % range 202
Slide 9: MACI Patient Journey quote and video
“You can change your lifestyle to accommodate your injury, or you can repair your injury to accommodate your lifestyle.” Click here to watch the MACI Patient Journey Video 9
Slide 10: Vericel Q2 2023 Financial Results: Appendix
VERICEL Q2 2023 FINANCIAL RESULTS APPENDIX 10
Slide 11: Reconciliation of Reported Net Loss (GAAP) to Adjusted EBITDA
Reconciliation of Reported Net Loss (GAAP) to Adjusted EBITDA (Non- GAAP Measure) – Unaudited Three Months Ended Six Months Ended (unaudited, amounts in thousands) June 30, June 30, Adjusted EBITDA (In Thousands) 2023 2022 2023 2022 Net Loss (GAAP) $ (5,020) $ (8,963) $ (12,515) $ (16,054) Stock-bas
Slide 12: Vericel Capitalization Table
Vericel Capitalization Table Capitalization (as of June 30, 2023) Shares Common Stock 47,616,012 Options Outstanding 6,875,976 Unvested Restricted Stock Units 938,703 Total 55,430,691 Vericel Q2 2023 Financial Results – August 2, 2023 12