---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-012003"
form_type: "8-K"
ticker: "VCEL"
cik: "0000887359"
company_name: "Vericel Corp"
filed_at: "2026-02-26T23:59:59+00:00"
generated_at: "2026-05-15T23:59:04.412082+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Vericel Q4 2025 total revenue $92.9M (+23% YoY); FY25 net income up 59% to $16.5M

## Summary
- Q4 total revenue $92.9M (+23% YoY); MACI revenue $84.1M (+23%); burn care $8.8M.
- FY25 total revenue $276.3M (+16%); MACI revenue $239.5M (+21%); net income $16.5M ($0.32 diluted EPS).
- Q4 adjusted EBITDA $37.3M (40% margin); FY25 adjusted EBITDA $70.9M (26% margin).
- FY26 guidance: total revenue $316-326M, MACI revenue $280-286M, gross margin ~75%, adj. EBITDA margin ~27%.
- Record Q4 MACI implants, biopsies, and implanting surgeons; MACI sales force expansion completed.

## SEC filing metadata
- accession: 0001628280-26-012003
- form_type: 8-K
- ticker: VCEL
- cik: 0000887359
- company_name: Vericel Corp
- filed_at: 2026-02-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/887359/000162828026012003/0001628280-26-012003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/887359/000162828026012003/vcel-20260226.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-012003
- JSON: https://secwatch.observer/filing/0001628280-26-012003.json
- Plain text: https://secwatch.observer/filing/0001628280-26-012003.txt

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