secwatch.observer — SEC 8-K summary
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Issuer:     Vericel Corp (VCEL)
CIK:        0000887359
Form:       8-K
Filed at:   2025-11-06T23:59:59+00:00
Accession:  0001628280-25-049880
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vericel reports record Q3 revenue $67.5M; net income $5.1M vs loss
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- Total revenue $67.5M (record Q3), MACI $55.7M (+25% YoY), Burn Care $11.8M (Epicel $10.4M, NexoBrid $1.5M).
- Net income $5.1M ($0.10 diluted EPS) vs net loss $0.9M prior year; adjusted EBITDA $17.0M (25% rev) vs $10.0M (17%).
- FY 2025 revenue guidance reaffirmed $272-276M; gross margin 74%, adjusted EBITDA margin 26%.
- Operating cash flow $22.1M (record Q3); cash $185M, no debt; MACI Arthro >800 surgeons trained; MACI Ankle study on track.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887359/000162828025049880/0001628280-25-049880-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887359/000162828025049880/vcel-20251106.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-049880

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