secwatch.observer — SEC 8-K summary
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Issuer:     Vericel Corp (VCEL)
CIK:        0000887359
Form:       8-K
Filed at:   2024-01-09T23:59:59+00:00
Accession:  0001140361-24-001518
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887359/000114036124001518/0001140361-24-001518-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887359/000114036124001518/ef20018464_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-001518

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer