Revenue: As of FY2026 Q1, the actual value is USD 68.43 M, beating the estimate of USD 63.62 M.EPS: As of FY2026 Q1, the actual value is USD -0.12.EBIT: As of FY2026 Q1, the actual value is USD -9.755 M.<h4>First Quarter 2026 Financial Highlights</h4><ul><li>Total Revenue: Vericel Corporation reported a total net revenue of $68.4 million for the first quarter ended March 31, 2026, representing a 30% increase compared to $52.6 million in the first quarter of 2025.</li><li>Segment Revenue:<ul><li>MACI net revenue increased by 22% to $56.4 million, up from $46.3 million in the prior-year quarter.</li><li>Burn Care net revenue grew by 91% to $12.0 million.</li><li>Epicel net revenue was $10.9 million, compared to $5.0 million in the first quarter of 2025, showing a 119% growth.</li><li>NexoBrid net revenue was $1.1 million, down from $1.3 million in the first quarter of 2025.</li></ul></li><li>Gross Margin: The gross margin for the quarter was 72%, an increase from 69% in the first quarter of 2025, with gross profit reaching $49.3 million compared to $36.3 million in the prior year.</li><li>Operating Costs:<ul><li>Total operating expenses increased to $57.3 million from $49.1 million in the first quarter of 2025.</li><li>Research and development expenses were $8.1 million in Q1 2026, up from $7.3 million in Q1 2025.</li><li>Selling, general and administrative expenses were $49.2 million in Q1 2026, up from $41.8 million in Q1 2025.</li></ul></li><li>Operating Profit: The company reported a loss from operations of - $8.1 million, an improvement from a loss of - $12.8 million in the first quarter of 2025.</li><li>Net Loss: Vericel Corporation recorded a net loss of - $6.3 million, or - $0.12 per diluted share, a reduction from a net loss of - $11.2 million, or - $0.23 per diluted share, in the first quarter of 2025.</li><li>Adjusted EBITDA: Non-GAAP adjusted EBITDA increased by 195% to $9.6 million, or 14% of revenue, compared to $3.2 million, or 6% of revenue, in the first quarter of 2025.</li><li>Cash Flow:<ul><li>Operating cash flow was $16.4 million for the quarter, significantly up from $6.6 million in the first quarter of 2025.</li><li>Free cash flow was $15.1 million, a substantial improvement from - $7.6 million in the first quarter of 2025.</li><li>Capital expenditures were - $1.3 million, compared to - $14.2 million in the prior-year quarter.</li><li>Net cash used in investing activities was - $4.2 million, compared to - $15.1 million in Q1 2025.</li><li>Net cash used in financing activities was - $3.0 million, compared to $3.2 million provided by financing activities in Q1 2025.</li></ul></li><li>Cash and Investments: The company held approximately $211 million in cash and investments and had no debt as of March 31, 2026.</li></ul><h4>Operational Metrics and Business Highlights</h4><ul><li>Vericel achieved record first quarter total revenue, MACI revenue, and Burn Care revenue.</li><li>MACI revenue growth has been 20% or more for the fourth consecutive quarter, with a four-quarter trailing revenue growth rate of 23%.</li><li>The company reported double-digit MACI biopsy and implant growth, with record first quarter MACI biopsies, implants, and biopsy and implanting surgeons.</li><li>Vericel announced a BARDA award valued at up to $197 million for the procurement and advanced development of NexoBrid.</li><li>FDA approval was received for MACI commercial manufacturing at the company’s new state-of-the-art facility.</li></ul><h4>2026 Financial Guidance (Outlook)</h4>Vericel Corporation raised its full-year 2026 total revenue guidance by $10 million to a range of $326 million to $336 million, with MACI revenue projected at $282 million to $288 million and Burn Care revenue increased to $44 million to $48 million. The company reaffirmed its full-year profitability guidance, expecting a gross margin of approximately 75% and an adjusted EBITDA margin of approximately 27%.

Vericel | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 68.43 M