AI-extracted from the 10-Q filed 2026-07-30 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Vericel reported Q2 revenue of $77.5M (+22.5% YoY), achieving operating income of $0.4M versus a loss of $2.0M in Q2 2025, driven by MACI and Epicel volume growth.
Biggest Revenue Drivers
MACI implants, kits, and instruments$65.5M+22.5% YoY
MACI volume and price growth, including strong adoption of MACI Arthro arthroscopic delivery since Q3 2024 launch.
Epicel$10.4M+20.8% YoY
Epicel revenue growth from volume and price increases.
Biggest Revenue Drivers
Total revenue: $77.5M+22.5% YoY
MACI implants, kits, and instruments$65.5M+22.5% YoY
MACI volume and price growth, including strong adoption of MACI Arthro arthroscopic delivery since Q3 2024 launch.
Epicel$10.4M+20.8% YoY
Epicel revenue growth from volume and price increases.
NexoBrid$1.5M+32.5% YoY
Increased adoption by specialty distributors and burn centers following pediatric indication expansion in August 2024.
Largest Expense Items
Selling, general and administrative$48.5M+15.7% YoY
Increase due to higher headcount and employee expenses including MACI sales force expansion, marketing programs, and higher facility costs from Burlington, MA facility.
Cost of product sales$21.1M+26.6% YoY
Increased product sales volume with primarily fixed manufacturing cost structure consisting mainly of labor and facility costs.
Research and development$7.5M+11.3% YoY
Higher headcount and employee expenses, regulatory support for potential MACI launch in United Kingdom, and MACI MASCOT trial spend.
Watch Items from the Filing
Accumulated deficit of $380.4M as of June 30, 2026. Company had net loss of $4.1M for six months ended June 30, 2026, though Q2 achieved net income of $2.2M.
MACI revenue highly concentrated in specialty pharmacies (Orsini and AllCare). Subject to third-party payer reimbursement variability; allowance for uncollectible consideration is $9.8M as of June 30, 2026.
NexoBrid manufacturing conducted by MediWound primarily in Israel; certain raw materials sourced from Taiwan. Exposure to geopolitical risks in Middle East and Taiwan, which could disrupt supply.
BARDA agreement signed March 31, 2026 valued at up to $196.9M over ten years; base period encompasses $34.9M in funding for NexoBrid procurement, VMI establishment, and development. No revenue recorded in Q2 2026.
Burlington, MA manufacturing facility received FDA approval in March 2026 for MACI commercial manufacturing; company began transitioning to this facility as primary MACI manufacturer, supporting long-term capacity and potential international expansion.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Zerbe Robert L MDReporting ownerGrant or award · Apr 29, 2026
Wright LisaReporting ownerGrant or award · Apr 29, 2026
Rubino Alan LReporting ownerGrant or award · Apr 29, 2026
About Vericel Corp (VCEL): stock profile, AI score and financials
Vericel Corp (VCEL) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores VCEL at 64.3/100 on a composite quality score built from its SEC filings, placing it at rank #554 of 2,925 stocks — the top 25% of the AI-ranked universe. VCEL scores in the top quartile across earnings quality (89.9), revenue growth (79.9). Areas of concern include institutional flow (16.6) and revenue scale (29.9), which score below median versus the broader universe. Shareholder dilution risk is elevated at 12.0/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Vericel Corp reports quarterly revenue of $77.5M, net income of $2.2M, an operating margin of 0.6%. VCEL trades on the Nasdaq exchange and files with the SEC under CIK 887359. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate VCEL daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Vericel Corp directly from SEC EDGAR.