Earnings Releases·Nov 5, 2026, 8:06 AM ET

Vericel Corporation — Third Quarter 2026 Earnings Summary

Total net revenue rose 26% year-over-year to $85.4 million, while net income surged 179% to $14.2 million ($0.27 per diluted share) and non-GAAP adjusted EBITDA increased 48% to $25.2 million.
Full-year 2026 guidance was raised across the board, with total revenue projected at $344–$346 million (previously $330–$340 million) and adjusted EBITDA margin increased to 28% (previously 27%).
All major product lines delivered strong growth, with MACI revenue up 21% year-over-year to $67.4 million, Burn Care up 52% to $18.0 million, and Epicel reaching a record $12.7 million.
The company returned capital to shareholders by repurchasing $8.8 million of stock during the quarter and maintains a strong balance sheet with $235.6 million in cash and no debt.
Management reaffirmed confidence in sustaining momentum into 2027, citing a strong start to the fourth quarter and progress toward a potential MACI launch in the U.K.