Vericel
Markets patient-specific cell therapies for knee-cartilage repair and severe burns, plus enzymatic burn debridement.
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Profile
Sells patient-specific MACI implants for knee-cartilage repair, Epicel skin grafts for extensive burns, and NexoBrid for enzymatic burn debridement in the United States. Most revenue comes from MACI, while commercialization depends on regulated manufacturing, specialist adoption, reimbursement, and MediWound’s supply of NexoBrid.
Manufactures and markets three FDA-approved advanced therapies for sports medicine and severe burn care in the United States. MACI turns a patient’s knee-cartilage biopsy into a cellular implant and offers instruments for arthroscopic delivery. Epicel creates permanent skin-replacement grafts for extensive burns, while NexoBrid uses enzymes to remove burn eschar.
Handles patient-specific cell manufacturing and sells through orthopedic, hospital, burn-center, and specialty-distributor channels within one reportable segment. MACI and Epicel depend on FDA-regulated production and specialist adoption; MACI manufacturing is shifting to the Burlington facility. NexoBrid relies on licensed North American rights and supply from MediWound’s Israeli operations. Revenue remains concentrated in MACI and the U.S. market.
Company facts
Categories
Key statistics
Year to date +15.0% · Average volume (30d) 493.8K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 30, 2026 | Canaccord Genuity | Target | $60 | |||
| Jul 16, 2026 | Truist Financial | Target | $42 | $54 | ||
| May 8, 2026 | H.C. Wainwright | Target | $60 | $70 | ||
| Apr 15, 2026 | Truist Financial | Target | $45 | $42 | ||
| Mar 10, 2026 | Leerink Partners | Target | $46 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | −$0.03 | $0.04 | +238.2% | $72.7M | $77.5M | +6.5% | +2.12% |
| May 7, 2026Q1 FY26 | −$0.15 | −$0.12 | +20.0% | $63.7M | $68.4M | +7.5% | −4.75% |
| Feb 26, 2026Q4 FY25 | $0.45 | $0.45 | 0.0% | $91.0M | $92.9M | +2.1% | −5.31% |
| Nov 6, 2025Q3 FY25 | −$0.02 | $0.10 | +600.0% | $92.7M | $67.5M | −27.2% | +0.49% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $52.6M | $63.2M | $67.5M | $92.9M | $68.4M | $77.5M | |
| Gross profit | $36.3M | $46.6M | $49.6M | $73.1M | $49.3M | $56.4M | |
| Operating income | −$12.8M | −$2.0M | $3.5M | $22.4M | −$8.1M | $434.0K | |
| Net income | −$11.2M | −$553.0K | $5.1M | $23.2M | −$6.3M | $2.2M | |
| Diluted EPS | −$0.23 | −$0.01 | $0.10 | $0.45 | −$0.12 | $0.04 | |
| Gross margin | 69.0% | 73.7% | 73.5% | 78.7% | 72.0% | 72.8% | |
| Operating margin | -24.3% | -3.2% | 5.1% | 24.1% | -11.8% | 0.6% |
Fiscal years (4-quarter sums)FY21 $156.2M · FY22 $164.4M · FY23 $197.5M · FY24 $237.2M · FY25 $276.3M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $162.5M · Total debt $92.5M · Total assets $502.9M · Shareholders' equity $370.0M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 51.21M · Float 50.58M · 98.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 8.09M | 15.80% | 13F | Aug 7, 2026 |
| State Street Corp | 3.29M | 6.43% | 13F | Aug 7, 2026 |
| Congress Asset Management Co /MA | 2.92M | 5.70% | 13F | Jul 7, 2026 |
| Vanguard Capital Management LLC | 2.26M | 4.41% | 13F | Aug 13, 2026 |
| Conestoga Capital Advisors, LLC | 2.08M | 4.07% | 13F | Jul 24, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 12, 2026 | Kevin F. Mclaughlin | director | −7,000 | $44.53 |
| Aug 3, 2026 | Michael Halpin | officer: Chief Operating Officer | −10,000 | $46.84 |
| Jul 30, 2026 | Jonathan Siegal | officer: Principal Accounting Officer | −500 | $48.90 |
| Jun 26, 2026 | Sean C. Flynn | officer: Chief Legal Officer | −15,000 | $45.64 |
| Jun 26, 2026 | Jonathan Mark Hopper | officer: Chief Medical Officer | −5,000 | $45.00 |
Peers
- Smith & Nephew (ADR)
Broad sports-medicine and burn-wound medtech overlap
- Zimmer Biomet
Juvenile cartilage allograft alternative to MACI
- Stryker
Cartilage allograft and sports-medicine channel substitute
- AVITA Medical
Autologous skin-cell burn-care alternative
- Integra LifeSciences
Dermal regeneration template for severe burn coverage
- Organogenesis
Regenerative wound-care and skin-substitute peer
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Vericel | $40.95 | 0.00% | $2.10B | 87.5 | 61.6 | 6.8 | +22.5% |
| Smith & Nephew (ADR) | $28.72 | −0.93% | $12.17B | 19.2 | — | 1.9 | +3.7% |
| Zimmer Biomet | $100.91 | −0.00% | $19.52B | 24.6 | 11.5 | 2.3 | +4.8% |
| Stryker | $334.18 | +1.06% | $126.77B | 34.3 | 20.6 | 4.9 | +9.4% |
| AVITA Medical | $10.35 | +0.39% | $257.1M | — | — | 3.4 | +78.6% |
| Integra LifeSciences | $16.89 | 0.00% | $1.31B | — | 6.6 | 0.8 | +0.8% |
| Organogenesis | $1.74 | +0.29% | $223.9M | — | — | 0.5 | −56.7% |
| Median | 24.6 | 11.5 | 2.1 | +4.2% |