The raised guidance and strong Q1 beat across both franchises (MACI +22%, Burn Care +91%) signal accelerating commercial momentum. The FDA approval for the new manufacturing facility removes a key capacity overhang. Watch for continued MACI implant growth and NexoBrid BARDA contract execution in coming quarters.
Price Chart
Executive Summary
Vericel reported Q1 2026 total revenue of $68.4M (+30% YoY), beating the $63.6M consensus, and a GAAP net loss of $0.12/share, which is narrower than the $-0.14 Street consensus. The company raised its full-year 2026 revenue guidance by $10M to $326-336M, driven by 22% MACI growth and 91% Burn Care growth, while maintaining profitability margin targets.
Key Financial Metrics
Key Facts
- Total Q1 2026 revenue of $68.4M, up 30% YoY from $52.6M, beating $63.6M consensus
- GAAP net loss of $6.3M ($0.12/diluted share) vs $11.2M loss ($0.23) in Q1 2025 — narrower than $-0.14 Street consensus
- Full-year 2026 revenue guidance raised by $10M to $326-336M (from $316-326M)
- MACI revenue grew 22% to $56.4M; Burn Care revenue surged 91% to $12.0M
- Adjusted EBITDA grew 195% to $9.6M (14% of revenue) from $3.2M (6%)
- Operating cash flow of $16.4M and free cash flow of $15.1M, vs negative FCF of $7.6M in Q1 2025
- Received FDA approval for MACI commercial manufacturing at new Burlington facility
- Announced BARDA award valued at up to $197M for NexoBrid procurement and development
Financial Impact
Revenue beat consensus by ~7.5% ($68.4M vs $63.6M); EPS loss of $0.12 was ~14% better than $-0.14 consensus; full-year guidance raised by $10M (+3.1% at midpoint)
Risk Factors
- GAAP net loss persists despite revenue growth; profitability dependent on operating leverage
- Execution risk on new Burlington facility ramp and MACI manufacturing scale-up
- Burn Care revenue can be lumpy due to episodic burn events and Epicel ordering patterns
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-031713 |
| Document: vcel-20260507.htm | 0001628280-26-031713 |
| Document: 0001628280-26-031713-index-headers.html | 0001628280-26-031713 |
| Document: 0001628280-26-031713-index.html | 0001628280-26-031713 |
| Document: 0001628280-26-031713.txt | 0001628280-26-031713 |
| 8-K Data (Synthetic) | 0001628280-26-031713 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 8w ago | Insider Cluster | $45.36 $40.89 | ▼ −9.85% | ▼ −9.25% | $40.15 (−11.49%) |
Jul 30, 2026 9w ago | 8-K | $47.61 $41.18 | ▼ −13.51% | ▼ −17.47% | $40.15 (−15.67%) |
Jul 16, 2026 11w ago | Press Release | $47.81 $44.54 | ▼ −6.84% | ▼ −10.46% | $40.15 (−16.02%) |
Jun 30, 2026 13w ago | Insider Cluster | $45.15 $46.62 | ▲ +3.26% | ▲ +5.44% | $40.15 (−11.07%) |
Jun 2, 2026 17w ago | 144 | $34.45 $45.15 | ▲ +31.06% | ▲ +32.62% | $40.15 (+16.55%) |
May 15, 2026 20w ago | Insider Cluster | $34.87 $38.46 | ▲ +10.30% | ▲ +8.71% | $40.15 (+15.14%) |
May 7, 2026 21w ago | 8-K | $35.13 $34.74 | ▼ −1.11% | ▼ −4.25% | $40.15 (+14.29%) |
May 7, 2026 21w ago | Press Release | $35.13 $34.74 | ▼ −1.11% | ▼ −4.25% | $40.15 (+14.29%) |
Apr 23, 2026 23w ago | Press Release | $34.40 $35.40 | ▲ +2.91% | ▼ −1.73% | $40.15 (+16.72%) |
Mar 19, 2026 28w ago | DEFA14A | $32.74 $35.68 | ▲ +8.98% | ▲ +1.36% | $40.15 (+22.63%) |
US Market Status
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