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Vericel VCEL NexoBrid — Revenue Not from Contract with Customer, Other

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Other financials

Income statement

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Revenue$77.5M+22.5%
Gross profit$56.4M+21.0%
Operating income$434.0K+121%
Net income$2.2M+499%
EPS (diluted)$0.04+500%

Balance sheet

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Cash & equivalents$125.4M+55.7%
Total debt$93.1M-7.3%
Total equity$370.0M+20.6%
Total assets$502.9M+15.4%

Cash flow

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Operating cash flow$16.2M+97.1%
CapEx$1.9M-76.2%
Free cash flow$14.3M+17,504%

Valuation

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Market cap$2.31B+29.1%
Enterprise value$2.28B+25.9%
P/E95.3×-156×
P/S7.5×+0.4×

Profitability

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Gross margin74.6%+1.1pp
Operating margin6%+5.5pp
Net margin7.9%+5.1pp
FCF margin20.1%

Returns & leverage

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Return on equity7.2%+4.6pp
Debt / equity0.3×-0.1×
Current ratio+0.1×

Where this comes from

Reported directly by Vericel in its filing.

Tagged under the XBRL concept us-gaap:RevenueNotFromContractWithCustomerOther.

The source filing: Vericel’s 10-Q, filed July 30, 2026.

Filed
Jul 30, 2026, 8:49 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-050836
Revenue by product (in thousands)Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Total MACI implants, kits, and instruments65,50653,458121,90499,755
Epicel
Direct bill (hospital)10,4048,61421,28913,578
NexoBrid1,5471,1682,6892,505
Total revenue$77,457$63,240$145,882$115,838
(a) Represents implants sold through Orsini and AllCare whereby such specialty pharmacies have a direct contract with the underlying insurance provider. The amount of reimbursement is based on contracted rates at the time of sale supported by the pharmacy’s direct contracts.
(b) Represents implants sold through Orsini and AllCare whereby such specialty pharmacy does not have a direct contract with the underlying payer and is subject to third-party reimbursement. The amount of reimbursement is established based on publicly available rates, fee schedules or past payer precedents.
(c) Represents implants sold directly from the Company to the facility based on a contract and known price agreed upon prior to the surgery date. Also represents direct sales under a contract to specialty distributor DMS.

Item 1. Financial Statements (Unaudited)

FAQ

What is Vericel's nexobrid — revenue not from contract with customer, other?
Vericel (VCEL) reported nexobrid — revenue not from contract with customer, other of $1.55M in Q2 2026.
How has Vericel's nexobrid — revenue not from contract with customer, other changed year-over-year?
Vericel's nexobrid — revenue not from contract with customer, other increased by 32.4% year-over-year, from $1.17M to $1.55M.
What is the long-term trend for Vericel's nexobrid — revenue not from contract with customer, other?
Over 4 years (2021 to 2025), Vericel's nexobrid — revenue not from contract with customer, other has grown at a 11.0% compound annual growth rate (CAGR), from $3.09M to $4.69M.
What does nexobrid — revenue not from contract with customer, other mean?
This metric represents ancillary revenue streams generated by the NexoBrid product line that fall outside of standard customer sales contracts. It typically includes income from sources such as government grants, research collaborations, or licensing arrangements related to the specific therapeutic asset. Monitoring this figure helps investors assess the diversification of revenue beyond core commercial product sales.

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