VCEL
$40.13-2.17%
Vericel CorporationStock · HealthcareRussell 2000 0.07%Nasdaq Composite 0.006%Russell 3000 0.003%US Stock Market 0.003%
VCEL financial statements
The full income statement, balance sheet, and cash-flow statement for Vericel Corporation (VCEL), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 49.0M2024-09 49.4M2024-12 50.0M2025-03 50.3M2025-06 50.5M2025-09 50.6M2025-12 50.8M2026-03 51.1M2026-06 51.2M+4.4% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 276M+16.5% | 237M+20.1% | 198M+20.7% | 164M+4.8% | 156M+28.1% | |
| 206M+19.5% | 172M+26.9% | 136M+23.5% | 110M+3.5% | 106M+25.9% | ||
| Cost of revenue | 70.7M+8.5% | 65.1M+5.1% | 61.9M+13.5% | 54.6M+8.8% | 50.2M+25.6% | |
| 195M+16.1% | 168M+18.0% | 142M+12.0% | 127M+11.4% | 114M+39.1% | ||
| Research & development | 27.6M+11.2% | 24.8M+17.8% | 21.0M+5.5% | 19.9M+22.4% | 16.3M+25.1% | |
| Selling, general & administrative | 167M+16.9% | 143M+18.0% | 121M+13.2% | 107M+9.5% | 97.6M+41.8% | |
| General & administrative | 76.8M+26.6% | 60.6M+16.7% | 52.0M+13.1% | 46.0M | — | |
| Selling & marketing | 90.2M+9.8% | 82.1M+19.0% | 69.0M+13.3% | 60.9M | — | |
| Operating income | 11.0M+144.4% | 4.52M+169.9% | -6.46M+62.1% | -17.1M-117.2% | -7.85M-431.1% | |
| Interest expense | 630K+2.6% | 614K+2.3% | 600K+63.9% | 366K+9050.0% | 4.00K-33.3% | |
| Interest & investment income | 7.01M+9.3% | 6.41M+38.4% | 4.63M+245.4% | 1.34M+498.7% | 224K-67.6% | |
| Other non-operating income | -44.0K-122.6% | 195K+204.7% | 64.0K-32.6% | 95.0K+82.7% | 52.0K+500.0% | |
| Pre-tax income | 17.4M+65.3% | 10.5M+543.8% | -2.37M+85.2% | -16.0M-110.9% | -7.58M-349.1% | |
| Income tax | 859K+480.4% | 148K-81.8% | 814K+12.9% | 721K+749.5% | -111K-161.7% | |
| Net income | 16.5M+59.4% | 10.4M+425.6% | -3.18M+81.0% | -16.7M-123.7% | -7.47M-360.9% | |
| $0.32+60.0% | $0.20+385.7% | -$0.07+80.0% | -$0.35-118.7% | -$0.16-366.7% | ||
| EPS (basic) | $0.33+57.1% | $0.21+400.0% | -$0.07+80.0% | -$0.35-118.7% | -$0.16-366.7% | |
| Weighted-avg shares (basic) | 50.3M+3.1% | 48.8M+2.6% | 47.6M+1.0% | 47.1M+1.4% | 46.5M+2.8% | |
| Weighted-avg shares (diluted) | 52.2M+0.9% | 51.7M+8.6% | 47.6M+1.0% | 47.1M+1.4% | 46.5M-1.7% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 247M+16.3% | 213M+3.5% | 206M+10.0% | 187M+17.9% | 158M+28.2% | ||
| Cash & equivalents | 100M+34.3% | 74.5M+7.9% | 69.1M+35.3% | 51.1M-25.3% | 68.3M+103.2% | |
| Short-term investments | 37.4M-10.3% | 41.7M+3.0% | 40.5M-40.9% | 68.5M+95.3% | 35.1M-16.9% | |
| Accounts receivable | 84.6M+37.9% | 61.4M+5.2% | 58.4M+25.4% | 46.5M+24.3% | 37.4M+8.5% | |
| Inventory | 17.6M+1.1% | 17.4M+32.8% | 13.1M-18.1% | 16.0M+19.5% | 13.4M+43.0% | |
| Other current assets | 7.74M+6.3% | 7.29M+6.3% | 6.85M+42.7% | 4.80M+13.1% | 4.25M+9.1% | |
| 488M+12.8% | 433M+22.4% | 354M+29.5% | 273M+12.0% | 244M+18.5% | ||
| Operating lease right-of-use | 64.8M-7.6% | 70.1M-4.6% | 73.5M+76.9% | 41.5M-9.2% | 45.7M-8.8% | |
| Intangible assets | 5.63M-10.0% | 6.25M-9.1% | 6.88M-8.3% | 7.50M | 0.00 | |
| Other non-current assets | 341K-38.7% | 556K-27.9% | 771K-40.8% | 1.30M+311.0% | 317K | |
| 49.1M-2.3% | 50.3M+9.9% | 45.7M+22.1% | 37.5M+43.8% | 26.1M+15.9% | ||
| Accounts payable | 15.8M-33.6% | 23.8M+6.7% | 22.3M+32.0% | 16.9M+87.8% | 9.02M+33.5% | |
| Accrued liabilities | 19.2M+12.7% | 17.1M-0.9% | 17.2M+6.3% | 16.2M+15.3% | 14.0M+24.4% | |
| Current lease liability | 14.0M+50.9% | 9.26M+49.6% | 6.19M+43.8% | 4.30M+45.8% | 2.95M-32.9% | |
| Other current liabilities | 116K+0.0% | 116K | 0.00-100.0% | 41.0K+0.0% | 41.0K+0.0% | |
| Finance lease liability (current) | 116K+0.0% | 116K | 0.00-100.0% | 41.0K+0.0% | 41.0K+0.0% | |
| 133M-5.3% | 141M+10.2% | 128M+58.2% | 80.7M+10.2% | 73.2M+2.7% | ||
| Non-current lease liability | 82.3M-8.2% | 89.6M+9.5% | 81.9M+89.2% | 43.3M-8.2% | 47.1M-3.4% | |
| Operating lease liability (total) | 96.3M-2.6% | 98.8M | — | 47.6M-5.0% | 50.1M-5.8% | |
| Finance lease liability (total) | 638K-7.0% | 686K | — | 41.0K-51.8% | 85.0K-26.7% | |
| Finance lease liability | 522K-8.4% | 570K | 0.00 | 0.00-100.0% | 44.0K-42.1% | |
| Other non-current liabilities | 1.90M+116.4% | 876K+776.0% | 100K | 0.00-100.0% | 44.0K-42.1% | |
| 355M+21.5% | 292M+29.2% | 226M+17.5% | 192M+12.8% | 170M+27.0% | ||
| Common stock | 731M+6.7% | 685M+8.8% | 629M+6.1% | 593M+7.1% | 554M+8.6% | |
| Retained earnings | -376M+4.2% | -393M+2.6% | -403M-0.8% | -400M-4.4% | -383M-2.0% | |
| Accumulated other comprehensive income | 275K+6775.0% | 4.00K+104.0% | -100K+89.8% | -978K-535.1% | -154K-1200.0% | |
| Total liabilities & equity | 488M+12.8% | 433M+22.4% | 354M+29.5% | 273M+12.0% | 244M+18.5% | |
| Common shares issued | 50.6M+2.0% | 49.6M+3.8% | 47.8M+1.2% | 47.3M+0.8% | 46.9M+2.3% | |
| Common shares outstanding | 50.6M+2.0% | 49.6M+3.8% | 47.8M+1.2% | 47.3M+0.8% | 46.9M+2.3% | |
| Shares outstanding (cover) | 50.8M+1.6% | 50.0M+3.5% | 48.3M+2.0% | 47.4M+0.8% | 47.0M+2.2% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 51.9M-10.8% | 58.2M+64.7% | 35.3M+99.6% | 17.7M-39.1% | 29.0M+65.3% | ||
| Depreciation & amortization | 11.5M+109.7% | 5.50M+18.8% | 4.63M+16.4% | 3.98M+34.3% | 2.96M+24.4% | |
| Share-based compensation | 38.8M+6.2% | 36.5M+12.9% | 32.3M-13.1% | 37.2M+8.3% | 34.3M+147.9% | |
| Change in inventory | 1.23M-71.3% | 4.29M+247.8% | -2.90M-211.3% | 2.60M-35.3% | 4.03M+58.5% | |
| Change in payables | 2.97M+1136.2% | -287K-109.4% | 3.05M+112.2% | 1.44M-3.6% | 1.49M+4418.2% | |
| -43.9M+44.4% | -79.0M-2425.0% | -3.13M+91.4% | -36.2M-934.2% | -3.50M+79.6% | ||
| Capital expenditure | 27.2M-57.5% | 64.0M+219.7% | 20.0M+163.5% | 7.60M-4.0% | 7.92M+201.4% | |
| Free cash flow | 24.7M+525.9% | -5.81M-138.0% | 15.3M+51.6% | 10.1M-52.2% | 21.1M+41.3% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Sales/maturities of investments | 55.6M+4.6% | 53.2M-33.2% | 79.6M+94.4% | 40.9M-36.5% | 64.4M+32.8% | |
| 7.07M-62.9% | 19.1M+426.6% | 3.62M+246.2% | 1.04M-88.6% | 9.17M+42.4% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 13.9M-43.2% | 24.5M+308.6% | 6.00M | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other financing activities | -47.0K | 0.00+100.0% | -41.0K-5.1% | -39.0K+88.8% | -348K-1142.9% | |
| Net change in cash | 15.0M+927.9% | -1.82M-105.1% | 35.8M+304.9% | -17.5M-150.3% | 34.7M+406.5% | |
| Interest paid | 489K+22.6% | 399K+4.2% | 383K+251.4% | 109K+2625.0% | 4.00K-33.3% | |
| Income taxes paid | 580K-7.6% | 628K-46.1% | 1.17M | 0.00-100.0% | 379K+157.8% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 1.83B-33.4% | 2.74B+61.5% | 1.70B+36.6% | 1.24B-32.6% | 1.85B+30.1% | |
| P/E | 110.7×-58.2% | 264.8× | — | — | — | |
| P/S | 6.6×-42.8% | 11.6×+26.1% | 9.2×+15.2% | 8.0×-32.6% | 11.8×+1.6% | |
| P/B | 5.2×-45.2% | 9.4×+13.0% | 8.3×+18.9% | 7.0×-35.4% | 10.8×+2.4% | |
| P/FCF | 73.9× | — | 89.9×-0.2% | 90.1×+3.1% | 87.4×-8.0% | |
| Earnings yield | 0.90%+139.3% | 0.38% | — | — | — | |
| FCF yield | 1.4% | — | 1.1%+0.2% | 1.1%-3.1% | 1.1%+8.7% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: VCEL’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all VCEL filings on SEC EDGAR → Not investment advice.