Vericel Corporation reported a record third quarter in 2025, driven by impressive revenue growth and significant profit improvements, highlighting strong momentum in its MACI and burn care products.

• Third quarter total revenue reached a record $67.5 million, exceeding guidance, with MACI revenue increasing 25% year-over-year to $55.7 million.
• Adjusted EBITDA margin stood at 25%, with GAAP net income surpassing $5 million and operating cash flow exceeding $22 million.
• The launch of MACI Arthro has resulted in a substantial increase in biopsy growth, with over 800 trained surgeons, enhancing overall implant and revenue growth.
• Expansion into international markets, including a planned MACI launch in the U.K. by 2027, positions the company for long-term growth.
• Continued sales force enhancements and strategic investments in marketing and operations are set to further strengthen MACI's leadership in knee cartilage repair.