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Vericel VCEL Q4 2025 Annual earnings

Reported February 26, 2026 · Before market open

Revenue$92.9MBeat by $1.9M
EPS$0.45In line
Revenue estimate$91.0M
EPS estimate$0.45

Next report

Nov 5, 2026 (in a month)
Revenue estimate$78.0M
EPS estimate$0.02

Financials

Q4 2025

Income statement

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Revenue$92.9M+23.3%
Gross profit$73.1M+25.0%
Operating income$22.4M+21.3%
Net income$23.2M+17.3%
EPS (diluted)$0.45+15.4%

Balance sheet

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Cash & equivalents$100.1M+17.7%
Total debt$97.0M-2.7%
Total equity$354.6M+21.5%
Total assets$488.0M+12.8%

Cash flow

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Operating cash flow$15.0M-32.5%
CapEx$2.2M-84.1%
Free cash flow$12.8M—

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$1.82B-32.8%
Enterprise value$1.82B-33.3%
P/E110.3×-151×
P/S6.6×-4.8×

Profitability

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Gross margin74.4%+1.9pp
Operating margin4%+2.1pp
Net margin6%+1.6pp
FCF margin9%—

Returns & leverage

See full
Return on equity5.1%+1.1pp
Debt / equity0.3×-0.1×
Current ratio5×+0.8×

Segments

By product

See full
M A C I Implants and kits$84.1M+23.1%
MACI implants, kits, and instruments$67.1M+30.2%
Epicel$8.1M+34.8%
Biopsy kits$717.0K+26.7%

FAQ

When did Vericel report Q4 2025 earnings?
Vericel (VCEL) reported Q4 2025 earnings on February 26, 2026 before market open.
What were Vericel's Q4 2025 revenue and EPS?
Vericel reported revenue of $92.9M and eps of $0.45 for Q4 2025.
Did Vericel beat estimates in Q4 2025?
Revenue beat the consensus estimate of $91.0M by $1.9M. EPS beat the consensus estimate of $0.45 by $0.00.
How did Vericel's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 23.3% from $75.4M a year earlier and eps grew 18.4% from $0.38.
Where can I find Vericel's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001628280-26-012003) and the 10-K periodic report (0001628280-26-012013) directly on SEC EDGAR. The filing index links above go to sec.gov.