VCEL PRESS-RELEASE SEC Filing Analysis

Latest settled — T+20d

VCEL ▼ -1.11% at T+20d

LONG call ✗ call lost -1.11% · α vs SPY -4.25% · entry $35.13 → $34.74

Next anchor: T+60d in 8w

Last close $35.77 (close Jun 8) · +1.82% from $35.13 entry

Entry anchored
May 6, 03:59 PM ET
via Databento tick

T+1d

-4.75%

call -4.75% · α -5.58%

$33.46

settled 5w ago

T+5d

-6.52%

call -6.52% · α -8.02%

$32.84

settled 27d ago

T+20d

-1.11%

call -1.11% · α -4.25%

$34.74

settled 5d ago

T+60d

—

call — · α —

—

in 8w

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Executive Summary

Vericel reported Q1 2026 revenue of $68.4M (+30% YoY) and GAAP EPS of -$0.12 (vs consensus -$0.16, a 25% beat on the loss). The company raised full-year 2026 revenue guidance by $10M to $326-336M, driven by 22% MACI growth and 91% Burn Care growth. Free cash flow turned positive at $15.1M vs -$7.6M a year ago, signaling an inflection in cash generation.

Key Financial Metrics

Guidance

$326M-$336M

raised

Free Cash Flow

$15.1M

Gross Margin

72%

Actionable Insight

The combination of a strong revenue beat, raised guidance, positive free cash flow inflection, and the BARDA award creates a powerful bullish catalyst. Watch for continued MACI implant growth and MHRA submission progress in 2026 as next catalysts. The stock should re-rate higher given the cash flow inflection and raised outlook.

Key Facts

Total revenue $68.4M (+30% YoY), above consensus $63.6M
GAAP EPS -$0.12 vs consensus -$0.16 (25% beat on loss)
MACI revenue $56.4M (+22% YoY), Burn Care $12.0M (+91% YoY)
Gross margin 72% vs 69% a year ago
Adjusted EBITDA $9.6M (+195% YoY), 14% of revenue
Operating cash flow $16.4M, free cash flow $15.1M (vs -$7.6M Q1 2025)
FY2026 revenue guidance raised to $326-336M from $316-326M
BARDA award up to $197M for NexoBrid procurement and development
FDA approval for MACI commercial manufacturing at new facility
Cash and investments $211M, no debt

Financial Impact

Revenue beat by ~$4.8M (7.5% above consensus), EPS beat by $0.04 on loss. Guidance raised by $10M at midpoint. Free cash flow swing of +$22.7M YoY.

revenueepsfree cash flowguidancegross margin

Risk Factors

GAAP net loss persists at -$6.3M despite operational improvements
Selling expenses increased to $49.2M (+18% YoY) as sales force expands
Dependence on MACI for ~82% of revenue concentration risk
Geopolitical risks to NexoBrid supply from MediWound in Israel

Market Snapshot

Exchange

Nasdaq

Sector

Biological Products, (No Diagnostic Substances)

Analyst Consensus

86% bullish (14 analysts)

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3289900

8 reports for VCEL

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for VCEL — sortable, filterable
	Type				Now
Jun 2, 2026 7d ago	144 NEUTRAL ★ 2/10	$34.45 $34.74	▲ +0.84%	▲ +1.54%	$35.77 (+3.83%)
May 15, 2026 25d ago	Insider Cluster NEUTRAL ★ 2/10	$34.87 $34.49	▼ −1.09%	▼ −0.44%	$35.77 (+2.58%)
May 7, 2026 4w ago	8-K BULLISH ★ 7/10	$35.13 $33.46	▼ −4.75%	▼ −5.58%	$35.77 (+1.82%)
May 7, 2026 4w ago	Press Release BULLISH ★ 8/10	$35.13 $33.46	▼ −4.75%	▼ −5.58%	$35.77 (+1.82%)
Apr 23, 2026 6w ago	Press Release NEUTRAL ★ 3/10	$34.40 $35.64	▲ +3.60%	▲ +2.82%	$35.77 (+3.98%)
Mar 19, 2026 11w ago	DEFA14A NEUTRAL ★ 3/10	$32.74 $31.41	▼ −4.06%	▼ −2.32%	$35.77 (+9.25%)
Mar 2, 2026 14w ago	Insider Cluster NEUTRAL ★ 4/10	$35.36 $34.39	▼ −2.74%	▼ −1.83%	$35.77 (+1.16%)
Feb 26, 2026 14w ago	8-K BULLISH ★ 8/10	$37.68 $35.68	▼ −5.31%	▼ −4.86%	$35.77 (−5.07%)

US Market Status

Market Closed — Opens in 7h 22m

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