Vericel Corporation ( (VCEL) ) has released its Q3 earnings. Here is a breakdown of the information Vericel Corporation presented to its investors.
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Vericel Corporation is a prominent player in the advanced therapies sector, specializing in sports medicine and severe burn care, offering unique biologic treatment solutions.
For the third quarter of 2024, Vericel reported a notable financial performance with a 27% increase in total revenue, reaching $57.9 million. The company also announced the FDA approval and commercial launch of MACI Arthro, marking significant regulatory success.
Key financial metrics highlighted include a gross margin of 72%, an 84% increase in adjusted EBITDA to $10.0 million, and a stronger cash position with no debt. The company achieved record highs in MACI biopsies and Epicel revenues, alongside strategic expansion into pediatric burn care through NexoBrid.
Looking ahead, Vericel has raised its profitability guidance for the full year, underscoring confidence in sustained revenue and profit growth. With ongoing developments and FDA approvals, the company is poised for continued success in 2025 and beyond.
