Slide 1: Vericel Q2 2024 Results
VERICEL Q2 2024 RESULTS AUGUST 1, 2024
Slide 2: Safe Harbor
Safe Harbor Vericel cautions you that all statements other than statements NexoBrid®, growth in profit, gross margins and operating tensions or record inflation and potential future impacts on our of historical fact included in this presentation that address margins, the ability to continue to scale
Slide 3: Q2 2024 Financial Highlights
Q2 2024 Financial Highlights Profitability Growth Outpacing High Revenue Growth Durable High Total Revenue Growth Record Q2 total revenue of $52.7M MACI revenue growth of 21% to $44.1M 20% 20% NexoBrid revenue growth of 76% vs. Q1 2024 Gross margin of 70%, up ~430 bps vs. Q2 2023 Adjusted EBITDA of
Slide 4: Key Brand Updates
Key Brand Updates MACI Burn Care Record second quarter revenue First half total Burn Care revenue growth of 20%, First half revenue growth of 20% including first half Epicel revenue growth of 12% Second highest number of MACI biopsies and NexoBrid launch progressing with approximately surgeons takin
Slide 5: Q2 2024 Revenue Details
Q2 2024 Revenue Details Total Revenue ($M) $80 $70 $60 $52.7 NexoBrid 21% MACI growth and $45.9 $0.8 Epicel $50 $39.5 $7.8 meaningful progression $37.0 $40 $0.8 $0.2 $9.6 in NexoBrid revenue in MACI $12.2 $8.2 $30 the quarter $20.0 $20 $44.1 $4.9 $36.3 $26.5 $28.6 $10 $15.1 $0 Q2 2020 Q2 2021 Q2 202
Slide 6: Q2 2024 Financial Results
Q2 2024 Financial Results Three Months Ended Six Months Ended June 30, June 30, Unaudited, amounts in millions except per share amounts 2024 2023 2024 2023 Net Revenue $52.7 $45.9 $103.9 $86.9 Gross Profit 36.6 29.9 72.0 56.5 Gross Margin 70% 65% 69% 65% Research and Development 7.4 5.3 13.8 10.5 Se
Slide 7: Increasing 2024 Profit Guidance
Increasing 2024 Profit Guidance 2024 Total Revenue Guidance $237M to $238M to Reaffirmed revenue guidance of $238M–$242M $241M $242M $Millions Gross margin of ~71% $198M Adjusted EBITDA margin of ~21% 2023 Actual 2024 February 2024 May/August Guidance Guidance Increased since previous guidance Veric
Slide 8: Reconciliation of Reported Net Loss (GAAP) to Adjusted EBITDA (Non-GAAP Measure)
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) 2024 2023 2024 2023 Net Loss (GAAP) $ (4,682) $ (5,020) $ (8,544) $ (12,515) Stock-base