Vericel Q1 revenue up 25% to $51.3M; raises FY2024 guidance to $238-242M

Vericel Corp

2024-Q1 EPS reported -$0.08 revenue$51,281,000

MACI revenue grew 18% to $40.2M; Burn Care revenue up 63% to $11.1M (Epicel $10.7M, NexoBrid $0.4M).
Net loss narrowed to $3.9M ($0.08/shr) from $7.5M; adjusted EBITDA surged 325% to $7.2M (14% margin).
Gross margin improved ~400bps to 69%; FY2024 revenue guidance raised to $238-242M (from $237-241M).
Over 60 NexoBrid P&T submissions, ~40 burn centers approved; no debt and $148M cash.

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