Vericel Corporation Earnings Recaps
Q3 2025
Nov 6, 2025
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.
Key takeaways
- 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.