--- title: "Vericel | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 77.46 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294361839.md" datetime: "2026-07-30T12:06:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294361839.md) - [en](https://longbridge.com/en/news/294361839.md) - [zh-HK](https://longbridge.com/zh-HK/news/294361839.md) --- # Vericel | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 77.46 M Revenue: As of FY2026 Q2, the actual value is USD 77.46 M, beating the estimate of USD 72.69 M. EPS: As of FY2026 Q2, the actual value is USD 0.04, beating the estimate of USD -0.0288. EBIT: As of FY2026 Q2, the actual value is USD 434 K. #### Second Quarter 2026 Financial Highlights Vericel Corporation reported total net revenue of $77.5 million, an increase of 22% compared to the second quarter of 2025. MACI® net revenue grew by 23% to $65.5 million, and Burn Care net revenue increased by 22% to $12.0 million. The company achieved a gross margin of 73% and a net income of $2.2 million. Non-GAAP adjusted EBITDA margin was 19%. Operating cash flow for the quarter was $16.2 million, and free cash flow was $14.3 million. Vericel Corporation held approximately $227 million in cash and investments and reported no debt as of June 30, 2026. #### Detailed Second Quarter 2026 Financial Results (YoY Comparison) Total net revenue for the quarter ended June 30, 2026, was $77.457 million, up from $63.240 million in Q2 2025. MACI net revenue was $65.5 million (Q2 2025: $53.5 million), Epicel net revenue was $10.4 million (Q2 2025: $8.6 million), and NexoBrid net revenue was $1.5 million (Q2 2025: $1.2 million). Gross profit for the quarter was $56.402 million (73% of net revenue), compared to $46.613 million (74% of net revenue) in Q2 2025. Total operating expenses increased to $55.968 million from $48.642 million in Q2 2025, primarily due to increased headcount, employee expenses including MACI sales force expansion, and marketing programs. Net income was $2.206 million, compared to a net loss of - $0.553 million in Q2 2025. Non-GAAP adjusted EBITDA was $14.864 million (19% of net revenue), up from $13.359 million (21% of net revenue) in Q2 2025. #### First Half 2026 Financial Highlights For the first half of 2026, total net revenue grew by 26% to $145.9 million. MACI net revenue increased by 22% to $121.9 million, while Burn Care net revenue saw a 49% increase to $24.0 million. Adjusted EBITDA grew by 47% to $24.4 million. Operating cash flow was $32.6 million, and free cash flow was $29.4 million. #### Detailed First Half 2026 Financial Results (YoY Comparison) Total revenue for the six months ended June 30, 2026, was $145.882 million, compared to $115.838 million in the first half of 2025. Cost of product sales was $40.214 million, up from $32.952 million. Gross profit increased to $105.668 million from $82.886 million. Research and development expenses were $15.597 million (2025: $13.992 million), and selling, general and administrative expenses were $97.701 million (2025: $83.715 million), leading to total operating expenses of $113.298 million (2025: $97.707 million). Income from operations was - $7.630 million, an improvement from - $14.821 million in the prior year. Net income for the period was - $4.096 million, compared to - $11.799 million in the first half of 2025. Operating cash flow was $32.574 million (2025: $14.814 million), and free cash flow was $29.385 million (2025: - $7.531 million). #### Operational Metrics and Business Updates MACI revenue growth exceeded 20% for the fifth consecutive quarter, with a four-quarter trailing revenue growth rate of 23%. NexoBrid® achieved record quarterly revenue, growing 36% versus the prior quarter and 33% versus the prior year. Epicel® second quarter revenue increased by 21%. MACI experienced double-digit biopsy and implant growth, setting new records for second-quarter MACI biopsies, implants, and biopsy and implanting surgeons. Vericel Corporation submitted a MACI marketing authorization application to the U.K. MHRA. The Board of Directors authorized a $200 million share repurchase program. #### Balance Sheet Highlights (June 30, 2026 vs. December 31, 2025) As of June 30, 2026, cash and cash equivalents stood at $125.358 million, up from $100.092 million at December 31, 2025. Short-term investments were $37.100 million (2025: $37.407 million), and long-term investments were $64.973 million (2025: $61.395 million). Total current assets increased to $264.730 million from $247.437 million. Total assets were $502.866 million (2025: $487.969 million). Total liabilities were $132.825 million (2025: $133.329 million), and total shareholders’ equity was $370.041 million (2025: $354.640 million). #### 2026 Financial Guidance Vericel Corporation raised its full-year 2026 total revenue guidance to $330 million to $340 million, an increase from previous guidance of $326 million to $336 million. MACI revenue guidance was increased to $284 million to $290 million, and Burn Care revenue guidance was raised to $46 million to $50 million. The company reaffirmed its full-year profitability guidance of approximately 75% gross margin and approximately 27% adjusted EBITDA margin. ### Related Stocks - [VCEL.US](https://longbridge.com/en/quote/VCEL.US.md) ## Related News & Research - [Vericel Q2 2026 earnings preview](https://longbridge.com/en/news/294226819.md) - [Vericel beats Q2 revenue estimates, boosts annual outlook](https://longbridge.com/en/news/294362078.md) - [Vericel Reports Second Quarter 2026 Financial Results, Raises Full-Year Financial Guidance and Announces Share Repurchase Program | VCEL Stock News](https://longbridge.com/en/news/294360787.md) - [Truist Financial Reaffirms Their Buy Rating on Vericel (VCEL)](https://longbridge.com/en/news/294508492.md) - [Key facts: Hubbell (HUBB) raises 2026 sales to 16%–18%; files 8‑K](https://longbridge.com/en/news/294167258.md)