---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-017028"
form_type: "8-K"
ticker: "VCEL"
cik: "0000887359"
company_name: "Vericel Corp"
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T07:37:22.502705+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Vericel reports record Q1 2023 revenue of $41M; MACI up 32%; raises full-year guidance

## Summary
- Q1 total revenue $41.0M (+14% YoY); MACI revenue $34.2M (+32% YoY); Epicel $6.8M.
- Net loss $7.5M ($0.16/diluted share) vs $7.1M loss a year ago; adjusted EBITDA $1.7M (4% rev).
- Full-year 2023 revenue guidance raised to $184-$192M from prior $180-$188M; maintains margin guidance.
- Cash and investments $139M, no debt; operating cash flow of $7.9M.
- MACI arthroscopic delivery program on track for 2024 commercial launch; NexoBrid P&T approvals ahead of goals.

## SEC filing metadata
- accession: 0001628280-23-017028
- form_type: 8-K
- ticker: VCEL
- cik: 0000887359
- company_name: Vericel Corp
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/887359/000162828023017028/0001628280-23-017028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/887359/000162828023017028/vcel-20230510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-017028
- JSON: https://secwatch.observer/filing/0001628280-23-017028.json
- Plain text: https://secwatch.observer/filing/0001628280-23-017028.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.