secwatch.observer — SEC 8-K summary
======================================

Issuer:     Vericel Corp (VCEL)
CIK:        0000887359
Form:       8-K
Filed at:   2026-02-26T23:59:59+00:00
Accession:  0001628280-26-012003
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887359/000162828026012003/0001628280-26-012003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887359/000162828026012003/vcel-20260226.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-012003

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