Vericel Corporation · NASDAQ:VCEL
Vericel — Q3 2023 Earnings Presentation
10 slides from Vericel's earnings presentation, Nov 8, 2023
Slide 1: Vericel Q3 2023 Results
VERICEL Q3 2023 RESULTS NOVEMBER 8, 2023
Slide 2: Safe Harbor
Safe Harbor Vericel cautions you that all statements other than revenue, growth in revenue, market penetration for institutions, companies in the financial services industry statements of historical fact included in this presentation MACI®, Epicel®, and NexoBrid®, growth in profit, gross or the fina
Slide 3: Q3 2023 Financial Highlights
Q3 2023 Financial Highlights Q3 Financial Highlights Recent MACI Growth Rates 32% Epicel 30% 27% $7.4 24% $5.4M 21% Adjusted EBITDA NexoBrid $0.6 $45.6M Total Revenues $7.2M $37.6 Operating Cash Flow MACI Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Total revenue growth of 18% and MACI year-to-date growt
Slide 4: Key Brand and Business Updates
Key Brand and Business Updates MACI Burn Care Corporate Highlights MACI third-quarter revenue growth Announced U.S. commercial Record third quarter total revenue, of 21%, representing the fifth availability of NexoBrid, significantly representing 18% growth versus the straight quarter of 20%+ growth
Slide 5: Q3 Revenue Details
Q3 Revenue Details Total Revenue ($M) $60 $50 $45.6 NexoBrid $0.6 $38.6 $7.4 $40 $34.5 $0.2 MACI Third Quarter Net $32.3 $7.3 Epicel $30 $30.5 $- $1.2 $0.8 Revenue Increased 21% $6.7 $9.8 MACI $9.9 to $37.6 Million $20 $37.6 $31.0 $24.4 $23.9 $10 $20.6 $0 Q3 2019 Q3 2020 Q3 2021 Q3 2022 Q3 2023 Veri
Slide 6: Third-Quarter 2023 Financial Results
Third-Quarter 2023 Financial Results Three Months Ended Nine Months Ended September 30, September 30, Unaudited, amounts in millions except per share amounts 2023 2022 2023 2022 Net Revenue $45.6 $38.6 $132.5 $111.7 Gross Profit 30.6 25.2 87.1 71.5 Gross Margin 67% 65% 66% 64% Research and Developme
Slide 7: Increasing 2023 Full-Year Revenue Guidance
Increasing 2023 Full-Year Revenue Guidance 2023 Net Revenue Guidance $190M to $192.5M to Total net revenue of $192.5–$197.5 million $184M to $197M $197.5M $180M to $192M ❖ MACI revenue of $160–$164 million $188M ❖ Burn Care revenue of $32.5–$33.5 million $Millions $164M Gross margin in the high-60%
Slide 8: Appendix
VERICEL Q3 2023 FINANCIAL RESULTS APPENDIX 8
Slide 9: 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) 2023 2022 2023 2022 Net Loss (GAAP) $ (3,660) $ (6,577) $ (16,175) $ (22,631
Slide 10: Vericel Capitalization Table
Vericel Capitalization Table Capitalization (as of September 30, 2023) Shares Common Stock 47,683,818 Options Outstanding 6,859,409 Unvested Restricted Stock Units 942,882 Total 55,486,109 Vericel Q3 2023 Financial Results – November 8, 2023 10