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Stocks · Health care · Biological Products, (No Diagnostic Substances)

Vericel Corp

VCEL Clue Score63
United States Fiscal year ends December CIK 0000887359
$40.10 +0.12% Close, 9 Oct 2026
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Price $40.10 −19.36% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue54.4Operating income−19.2Net income−19.6Fiscal year 2017Revenue62.8 +15.4%Operating income−15.0Net income−17.3Fiscal year 2018Revenue90.9 +44.8%Operating income−3.9Net income−8.1EPS, diluted−0.20Fiscal year 2019Revenue117.9 +29.7%Operating income−11.3Net income−9.7EPS, diluted−0.22Fiscal year 2020Revenue122.0 +3.5%Operating income2.4Net income2.9EPS, diluted0.06Fiscal year 2021Revenue153.1 +25.5%Operating income−7.9Net income−7.5 −360.9%EPS, diluted−0.16 −366.7%Fiscal year 2022Revenue163.7 +6.9%Operating income−17.1Net income−16.7EPS, diluted−0.35Fiscal year 2023Revenue197.5 +20.7%Operating income−6.5Net income−3.2EPS, diluted−0.07Fiscal year 2024Revenue237.2 +20.1%Operating income4.5Net income10.4EPS, diluted0.20Fiscal year 2025Revenue276.3 +16.5%Operating income11.0Net income16.5 +59.4%EPS, diluted0.32 +60.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 54.4 62.8 90.9 117.9 122.0 153.1 163.7 197.5 237.2 276.3
Growth +15.4% +44.8% +29.7% +3.5% +25.5% +6.9% +20.7% +20.1% +16.5%
Operating income −19.2 −15.0 −3.9 −11.3 2.4 −7.9 −17.1 −6.5 4.5 11.0
Net income −19.6 −17.3 −8.1 −9.7 2.9 −7.5 −16.7 −3.2 10.4 16.5
Growth −360.9% +59.4%
EPS, diluted n/a n/a −0.20 −0.22 0.06 −0.16 −0.35 −0.07 0.20 0.32
Growth −366.7% +60.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin47.9%Operating margin−35.4%Net margin−36.0%Free cash flow margin−39.2%Fiscal year 2017Gross margin53.5%Operating margin−23.9%Net margin−27.5%Free cash flow margin−23.4%Fiscal year 2018Gross margin64.6%Operating margin−4.3%Net margin−9.0%Free cash flow margin−3.4%Fiscal year 2019Gross margin68.1%Operating margin−9.5%Net margin−8.2%Free cash flow margin−8.3%Fiscal year 2020Gross margin69.1%Operating margin1.9%Net margin2.3%Free cash flow margin12.3%Fiscal year 2021Gross margin69.3%Operating margin−5.1%Net margin−4.9%Free cash flow margin13.8%Fiscal year 2022Gross margin67.1%Operating margin−10.4%Net margin−10.2%Free cash flow margin6.2%Fiscal year 2023Gross margin68.6%Operating margin−3.3%Net margin−1.6%Free cash flow margin7.7%Fiscal year 2024Gross margin72.6%Operating margin1.9%Net margin4.4%Free cash flow margin−2.4%Fiscal year 2025Gross margin74.4%Operating margin4.0%Net margin6.0%Free cash flow margin9.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 47.9% 53.5% 64.6% 68.1% 69.1% 69.3% 67.1% 68.6% 72.6% 74.4%
Operating margin −35.4% −23.9% −4.3% −9.5% 1.9% −5.1% −10.4% −3.3% 1.9% 4.0%
Net margin −36.0% −27.5% −9.0% −8.2% 2.3% −4.9% −10.2% −1.6% 4.4% 6.0%
Free cash flow margin −39.2% −23.4% −3.4% −8.3% 12.3% 13.8% 6.2% 7.7% −2.4% 9.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−19.9Capital expenditure−1.4Free cash flow−21.3Fiscal year 2017Operating cash flow−13.2Capital expenditure−1.5Free cash flow−14.7Fiscal year 2018Operating cash flow−0.4Capital expenditure−2.7Free cash flow−3.1Fiscal year 2019Operating cash flow−7.2Capital expenditure−2.6Free cash flow−9.8Fiscal year 2020Operating cash flow17.6Capital expenditure−2.6Free cash flow14.9Fiscal year 2021Operating cash flow29.0Capital expenditure−7.9Free cash flow21.1 +41.3%Fiscal year 2022Operating cash flow17.7Capital expenditure−7.6Free cash flow10.1 −52.2%Fiscal year 2023Operating cash flow35.3Capital expenditure−20.0Free cash flow15.3 +51.6%Fiscal year 2024Operating cash flow58.2Capital expenditure−64.0Free cash flow−5.8 −138.0%Fiscal year 2025Operating cash flow51.9Capital expenditure−27.2Free cash flow24.7
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −19.9 −13.2 −0.4 −7.2 17.6 29.0 17.7 35.3 58.2 51.9
Capital expenditure −1.4 −1.5 −2.7 −2.6 −2.6 −7.9 −7.6 −20.0 −64.0 −27.2
Free cash flow −21.3 −14.7 −3.1 −9.8 14.9 21.1 10.1 15.3 −5.8 24.7
Growth +41.3% −52.2% +51.6% −138.0%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash23.0Total debt9.3Net cash (debt)13.7Shareholders’ equity24.7Debt to equity0.38Fiscal year 2017Cash26.9Total debt16.9Net cash (debt)10.0Shareholders’ equity22.5Debt to equity0.75Fiscal year 2018Cash18.3Shareholders’ equity102.2Fiscal year 2019Cash26.9Shareholders’ equity111.1Fiscal year 2020Cash33.6Shareholders’ equity134.3Fiscal year 2021Cash68.3Shareholders’ equity170.5Fiscal year 2022Cash51.1Shareholders’ equity192.3Fiscal year 2023Cash69.1Shareholders’ equity226.0Fiscal year 2024Cash74.5Shareholders’ equity292.0Fiscal year 2025Cash100.1Shareholders’ equity354.6
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 23.0 26.9 18.3 26.9 33.6 68.3 51.1 69.1 74.5 100.1
Total debt 9.3 16.9 n/a n/a n/a n/a n/a n/a n/a n/a
Net cash (debt) 13.7 10.0 n/a n/a n/a n/a n/a n/a n/a n/a
Shareholders’ equity 24.7 22.5 102.2 111.1 134.3 170.5 192.3 226.0 292.0 354.6
Debt to equity 0.38 0.75 n/a n/a n/a n/a n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
47.9% 53.5% 64.6% 68.1% 69.1% 69.3% 67.1% 68.6% 72.6% 74.4%
−35.4% −23.9% −4.3% −9.5% 1.9% −5.1% −10.4% −3.3% 1.9% 4.0%
−36.0% −27.5% −9.0% −8.2% 2.5% −5.0% −9.8% −1.2% 4.4% 6.3%
−36.0% −27.5% −9.0% −8.2% 2.3% −4.9% −10.2% −1.6% 4.4% 6.0%
−39.2% −23.4% −3.4% −8.3% 12.3% 13.8% 6.2% 7.7% −2.4% 9.0%
Spending
28.1% 20.6% 15.0% 25.8% 10.7% 10.6% 12.2% 10.7% 10.5% 10.0%
50.4% 56.7% 53.9% 51.9% 56.4% 63.8% 65.3% 61.3% 60.2% 60.4%
2.6% 2.4% 2.9% 2.2% 2.2% 5.2% 4.6% 10.1% 27.0% 9.8%
n/a n/a n/a n/a 5.9% n/a n/a n/a 1.4% 4.9%
Returns
−79.2% −76.7% −8.0% −8.7% 2.1% −4.4% −8.7% −1.4% 3.5% 4.7%
−40.3% −31.7% −6.9% −6.3% 1.4% −3.1% −6.1% −0.9% 2.4% 3.4%
Balance and payout
0.38 0.75 n/a n/a n/a n/a n/a n/a n/a n/a
49.2% 58.7% 13.9% 27.5% 34.7% 30.1% 29.6% 36.1% 32.5% 27.3%