VCEL FINANCIAL STATEMENTS

Vericel Corp Ord — balance sheet, income statement and cash flow trends

VCELVericel Corp Ord

🇺🇸 USA · NASDAQ · Healthcare · Biotechnology

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue292.1 M $+22.4%

Gross Profit218.6 M $+26.3%

Operating Income15.8 M $—

EBITDA35.3 M $+234.2%

Net Income21.5 M $+620.7%

Peer Comparison· Biotechnology

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
VCEL	22.4%	74.8%	12.1%	7.3%
TLX	56.3%	50.8%	3.0%	-0.9%
MSB	410.4%	-32.0%	-76.6%	-115.3%
CSL	4.8%	48.6%	32.8%	9.2%
Industry median	5.1%	84.0%	-105.8%	-125.7%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
VCEL	22.4%	74.8%	12.1%	7.3%
KOD	-100.0%	—	—	—
BHVN	-100.0%	—	—	—
SRPT	-2.2%	62.4%	5.7%	3.0%
MLYS	-100.0%	—	—	—
CLDX	-89.2%	-14,287.9%	-34,185.6%	-34,596.2%
Industry median	5.1%	84.0%	-105.8%	-125.7%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity356.2 M $73%
Current Liabilities47.2 M $10%
Long-term Liabilities82.2 M $17%

Key Figures

YoY change

Total Assets485.6 M $+14.4%

Total Liabilities129.4 M $+0.2%

Total Equity356.2 M $+20.6%

Cash & ST Investments145.3 M $+28.7%

Total Debt94.5 M $-4.5%

Net Debt-14.8 M $-157.9%

Peer Comparison· Biotechnology

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
VCEL	5.18	26.5%	-1.44	73.4%
TLX	1.43	112.3%	13.13	35.1%
MSB	—	—	—	—
CSL	2.57	67.4%	2.22	49.2%
Industry median	5.90	10.9%	1.15	70.0%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
VCEL	5.18	26.5%	-1.44	73.4%
KOD	3.54	139.2%	0.07	36.6%
BHVN	7.41	221.0%	0.10	27.8%
SRPT	4.63	68.9%	3.07	47.3%
MLYS	44.33	—	—	97.7%
CLDX	8.92	0.4%	1.60	89.2%
Industry median	5.90	10.9%	1.15	70.0%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow61.7 M $+7.2%

Capital Expenditures32.3 M $-57.2%

Free Cash Flow57.8 M $+32.6%

Dividends Paid——

Peer Comparison· Biotechnology

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
VCEL	21.1%	19.8%	11.1%	287.5%
TLX	-2.2%	-6.3%	4.1%	243.1%
MSB	-87.7%	-90.0%	2.3%	76.1%
CSL	24.0%	20.3%	3.7%	261.5%
Industry median	-88.0%	-90.9%	1.9%	81.5%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
VCEL	21.1%	19.8%	11.1%	287.5%
KOD	—	—	—	63.7%
BHVN	—	—	—	91.7%
SRPT	8.0%	4.9%	3.2%	269.4%
MLYS	—	—	—	89.9%
CLDX	-27,092.8%	-27,556.2%	463.4%	78.3%
Industry median	-88.0%	-90.9%	1.9%	81.5%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

Go deeper on VCEL

Run a DCF valuation

Full DCF model with editable assumptions

Start a head-to-head duel

Compare two stocks metric by metric

Filter in the stock screener

Build your own universe with 400+ metrics

Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.