Vericel Corp
VCEL- Exchange
- Nasdaq
- Industry
- Biological Products, (No Diagnostic Substances)
- SEC CIK
- 0000887359
In the last 90 days, Vericel Corp insiders filed 0 open-market purchases and 7 sales; 323 institutions reported holding it in 13F filings for Q2 2026, worth $2.47B in total; no superinvestor holds it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Nov 8, 2026, 10:34 PM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 13, 2026 | Jan 14, 2025 | Jan 9, 2024 | Jan 10, 2023 | Jan 12, 2022 |
| Revenue | $276.3M | $237.2M | $197.5M | $164.4M | $156.2M |
| Cost of revenue | $70.7M | $65.1M | $61.9M | $54.6M | $50.2M |
| Gross profit | $205.6M | $172.1M | $135.6M | $109.8M | $106.0M |
| Operating expenses | $194.6M | $167.6M | $142.0M | $126.8M | $113.9M |
| Research and development | $27.6M | $24.8M | $21.0M | $19.9M | $16.3M |
| Selling, general and administrative | $167.0M | $142.8M | $121.0M | $106.9M | $97.6M |
| Operating income | $11.0M | $4.52M | -$6.46M | -$17.1M | -$7.85M |
| Interest expense | – | – | $600.0K | $366.0K | $4.00K |
| Income tax | $859.0K | $148.0K | $814.0K | $721.0K | -$111.0K |
| Net income | $16.5M | $10.4M | -$3.18M | -$16.7M | -$7.47M |
| EPS, basic | $0.33 | $0.21 | $-0.07 | $-0.35 | $-0.16 |
| EPS, diluted | $0.32 | $0.20 | $-0.07 | $-0.35 | $-0.16 |
| Weighted shares, basic | 50.3M | 48.8M | 47.6M | 47.1M | 46.5M |
| Weighted shares, diluted | 52.2M | 51.7M | 47.6M | 47.1M | 46.5M |
| Margins and growth | |||||
| Gross margin | 74.4% | 72.6% | 68.6% | 66.8% | 67.9% |
| Operating margin | 4.0% | 1.9% | -3.3% | -10.4% | -5.0% |
| Net margin | 6.0% | 4.4% | -1.6% | -10.2% | -4.8% |
| Revenue growth, year over year | +16.5% | +20.1% | +20.2% | +5.2% | +25.8% |
| Net income growth, year over year | +59.4% | – | – | – | −360.9% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 13, 2026 | Jan 14, 2025 | Jan 9, 2024 | Jan 10, 2023 | Jan 12, 2022 |
| Cash and equivalents | $100.1M | $74.5M | $69.1M | $51.1M | $68.3M |
| Short-term investments | $37.4M | $41.7M | $40.5M | $68.5M | $35.1M |
| Accounts receivable | $84.6M | $61.4M | $58.4M | $46.5M | $37.4M |
| Inventory | $17.6M | $17.4M | $13.1M | $16.0M | $13.4M |
| Total current assets | $247.4M | $212.8M | $205.6M | $186.9M | $158.5M |
| Intangible assets | $5.63M | $6.25M | $6.88M | $7.50M | – |
| Total assets | $488.0M | $432.7M | $353.7M | $273.0M | $243.7M |
| Accounts payable | $15.8M | $23.8M | $22.3M | $16.9M | $9.02M |
| Total current liabilities | $49.1M | $50.3M | $45.7M | $37.5M | $26.1M |
| Total liabilities | $133.3M | $140.8M | $127.7M | $80.7M | $73.2M |
| Shareholders' equity | $354.6M | $292.0M | $226.0M | $192.3M | $170.5M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 13, 2026 | Jan 14, 2025 | Jan 9, 2024 | Jan 10, 2023 | Jan 12, 2022 |
| Operating cash flow | $51.9M | $58.2M | $35.3M | $17.7M | $29.0M |
| Capital expenditures | $27.2M | $64.0M | $20.0M | $7.60M | $7.92M |
| Free cash flow | $24.7M | -$5.81M | $15.3M | $10.1M | $21.1M |
| Depreciation and amortization | $11.5M | $5.50M | $4.63M | $3.98M | $3.00M |
| Stock-based compensation | $38.8M | $36.5M | $32.3M | $37.2M | $34.3M |
| Investing cash flow | -$43.9M | -$79.0M | -$3.13M | -$36.2M | -$3.50M |
| Financing cash flow | $7.07M | $19.1M | $3.62M | $1.04M | $9.17M |
| Net change in cash | $15.0M | -$1.82M | $35.8M | -$17.5M | $34.7M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 14.0% | 15.4% | 16.4% | 22.6% | 22.0% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.