Vericel Reports Q2 2026 Revenue Up 22% to $77.5M, Raises 2026 Guidance and Authorizes $200M Buyback

Vericel reported second-quarter 2026 total net revenue of $77.5 million, up 22% year-over-year, with MACI revenue of $65.5 million and gross profit of $56.4 million (73% margin). The company posted net income of $2.2 million (diluted EPS $0.04) and adjusted EBITDA of $14.9 million for the quarter, generated $14.3 million of free cash flow, and held approximately $227 million in cash and investments. Vericel raised full-year 2026 revenue guidance to $330–$340 million and its board authorized a $200 million share repurchase program.

Financial Highlights

• Total net revenue: $77.5 million for Q2 2026, a 22% increase from $63.2 million in Q2 2025.
• Gross profit: $56.4 million for Q2 2026, representing a 73% gross margin.
• Operating income (loss) from operations: $0.4 million income for Q2 2026 (listed as $434 thousand).
• Net income: $2.2 million for Q2 2026; diluted EPS $0.04.
• Adjusted EBITDA (Non-GAAP): $14.9 million for Q2 2026 (19% of net revenue) and free cash flow of $14.3 million for the quarter.

Business Highlights

• MACI momentum: MACI net revenue grew 23% year-over-year to $65.5 million; the company reported double-digit MACI biopsy and implant growth and record quarterly MACI biopsies and implants.
• Burn care growth: Burn Care revenue rose 22% to $12.0 million in the quarter, including record quarterly NexoBrid revenue with sequential growth of 36% and year-over-year growth of 33%.
• Epicel performance: Epicel revenue increased 21% in the quarter, supporting broader burn-care traction.
• Regulatory and market expansion: Submission of a MACI marketing authorization application to the U.K. MHRA noted as a key regulatory milestone.
• Capital allocation and balance sheet: Strong balance sheet with approximately $227 million in cash and investments, no debt, and a newly authorized $200 million share repurchase program to return capital to shareholders.

Original SEC Filing:

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