Vericel Corp (VCEL) Financial Statements
Industry: Biological Products, (No Diagnostic Substances)
In fiscal 2025, Vericel reported revenue of $276.3M, up 16.5% from $237.2M the year before. Net income was $16.5M (a 6.0% net margin), or $0.32 per diluted share. Gross margin was 74.4% and operating margin was 4.0%. Operating activities generated $51.9M of cash, leaving $24.7M of free cash flow. At fiscal year end, Vericel held $488.0M in total assets against $133.3M in total liabilities, including $100.1M of cash and equivalents.
Open the full interactive Vericel financials → Quarterly statements, key ratios, valuation history and price charts.
Vericel Key Stats
| Share Price | $40.30 |
|---|---|
| Market Cap | $2.11B |
| P/E Ratio | 125.9 |
| Revenue YoY Growth | +16.4% |
| 52-Week Range | $29.34 – $48.31 |
| Shares Outstanding | 51.1 million (basic, 2026 Q2) |
Vericel Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $124.2M | $156.2M | $164.4M | $197.5M | $237.2M | $276.3M |
| Cost of Goods Sold | $40.0M | $50.2M | $54.6M | $61.9M | $65.1M | $70.7M |
| Gross Profit | $84.2M | $106.0M | $109.8M | $135.6M | $172.1M | $205.6M |
| Operating Income | $2.4M | -$7.9M | -$17.1M | -$6.5M | $4.5M | $11.0M |
| Pre-Tax Income | $2.9M | -$7.6M | -$16.0M | -$2.4M | $10.5M | $17.4M |
| Income Tax | $180,000 | -$111,000 | $721,000 | $814,000 | $148,000 | $859,000 |
| Net Income | $2.9M | -$7.5M | -$16.7M | -$3.2M | $10.4M | $16.5M |
| Diluted EPS | $0.06 | -$0.16 | -$0.35 | -$0.07 | $0.20 | $0.32 |
Vericel Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $67.5M | $92.9M | $68.4M | $77.5M |
| Net Income | $5.1M | $23.2M | -$6.3M | $2.2M |
| Diluted EPS | $0.10 | $0.45 | -$0.12 | $0.04 |
Vericel Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $33.6M | $68.3M | $51.1M | $69.1M | $74.5M | $100.1M |
| Current Assets | $123.6M | $158.5M | $186.9M | $205.6M | $212.8M | $247.4M |
| Total Assets | $205.6M | $243.7M | $273.0M | $353.7M | $432.7M | $488.0M |
| Current Liabilities | $22.5M | $26.1M | $37.5M | $45.7M | $50.3M | $49.1M |
| Total Liabilities | $71.3M | $73.2M | $80.7M | $127.7M | $140.8M | $133.3M |
| Shareholders' Equity | $134.3M | $170.5M | $192.3M | $226.0M | $292.0M | $354.6M |
Vericel Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $17.6M | $29.0M | $17.7M | $35.3M | $58.2M | $51.9M |
| Cash From Investing | -$17.2M | -$3.5M | -$36.2M | -$3.1M | -$79.0M | -$43.9M |
| Cash From Financing | $6.4M | $9.2M | $1.0M | $3.6M | $19.1M | $7.1M |
| Free Cash Flow | $14.9M | $21.1M | $10.1M | $15.3M | -$5.8M | $24.7M |
Figures from Vericel's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Vericel financials page for every line item.
Vericel Company Profile
| Ticker | VCEL |
|---|---|
| Exchange | Nasdaq |
| Industry | Biological Products, (No Diagnostic Substances) |
| Headquarters | Burlington, Massachusetts |
| Incorporated in | Michigan |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000887359 |
Frequently Asked Questions
What was Vericel's revenue in fiscal 2025?
Vericel (VCEL) reported revenue of $276.3M for fiscal 2025.
What is Vericel's annual revenue history?
Vericel's annual revenue by fiscal year: 2020: $124.2M; 2021: $156.2M; 2022: $164.4M; 2023: $197.5M; 2024: $237.2M; 2025: $276.3M.
What was Vericel's net income in fiscal 2025?
Vericel reported net income of $16.5M for fiscal 2025.
What was Vericel's earnings per share (EPS) in fiscal 2025?
Vericel's diluted EPS was $0.32 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Vericel generate in fiscal 2025?
Vericel generated $24.7M of free cash flow in fiscal 2025.
What was Vericel's revenue last quarter?
In its most recent reported quarter (2026 Q2), Vericel reported revenue of $77.5M.
How many shares of Vericel are outstanding?
Vericel reported a weighted average of 51.1 million basic shares outstanding in 2026 Q2.
What is Vericel's market cap?
Based on its latest closing price, Vericel (VCEL) has a market capitalization of about $2.11B.
When does Vericel's fiscal year end?
Vericel's fiscal year end, as registered with the SEC, is December 31.
Where is Vericel headquartered?
Vericel lists its business address in Burlington, Massachusetts in its SEC filings.
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