Vericel prelim 2025 revenue $276M (+23% Q4); MACI rev $239.5M; GAAP net profitable 2nd year

Vericel Corp

2025-FY EPS reported $0.32 revenue$276,259,000

Total revenue ~$276M; MACI $239.5M (+20%+ YoY 3rd consecutive yr); Burn Care $36.5M.
Gross margin 74%; adj. EBITDA margin 26%; $200M cash & investments, no debt.
Q4 set records for MACI implants, implanting surgeons, biopsies; >900 MACI Arthro trained surgeons.
Completed sales force expansion; initiated MACI Ankle MASCOT trial; new mfg facility on track for 2026.
CEO cites strong execution, expects continued high revenue growth and profitability improvement in 2026.

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