Vericel reports preliminary FY2023 revenue ~$197.5M (+20% YoY); Q4 revenue $65M (+23%)

Vericel Corp

2023-FY EPS reported -$0.07 revenue$197,516,000

FY2023 preliminary total revenue ~$197.5M (+20% YoY); MACI revenue ~$164.8M (+25%); Burn Care revenue ~$32.7M.
Q4 2023 revenue ~$65M (+23% YoY); MACI $56.7M (+22%); Burn Care $8.3M (+31%); gross margin >70%.
Record-high Q4 MACI implants, implanting surgeons, biopsies, and biopsies since launch; highest Epicel biopsies since 2021.
Cash, restricted cash & investments ~$152M, no debt; adjusted EBITDA margin ~30% in Q4, mid-teens for full year.
NexoBrid U.S. launch underway with >50 burn centers submitted to P&T committees; arthroscopic MACI launch expected later in 2024.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Vericel Corp reported the fourth quarter and year ended December 31, 2023 results: revenue Total net revenue expected to be approximately $197.5 million.

Period: the fourth quarter and year ended December 31, 2023
Revenue: Total net revenue expected to be approximately $197.5 million
Result: preliminary results

Exact text from the filing

Vericel Announces Preliminary Full-Year and Fourth Quarter 2023 Financial Results Full-Year Total Revenue Expected to be Approximately $197.5 Million

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Source: SEC EDGAR

accession 0001140361-24-001518

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