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Vericel Corporation

VCELHealthcareNASDAQ

Biotechnology

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Financials · Annual
Revenue
$276.3M
+16.5% YoY
Net Income
$16.5M
+59.4% YoY
EBITDA
$29.6M
+77.7% YoY
Free Cash Flow
$42.4M

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About Vericel Corporation

Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies and specialty biologic products for sports. Valued at $1.75B, VCEL is a small-cap name in its sector. The company markets autologous cell therapy products comprising MACI, an autologous cultured chondrocytes on porcine collagen membrane for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns; and NexoBrid, a biological orphan product for eschar removal in adults and pediatric patients with deep partial-thickness and/or full-thickness thermal burns.

Key stats
Market Cap$1.75B
P/E (TTM)79.63
Fwd P/E40.19
EPS$0.43
Beta1.16
52W Change-17.1%
ROE6.6%
Analysis

The balance sheet looks solid with $145.3M in cash comfortably exceeding the $95.0M debt load. A net cash position generally provides financial flexibility during uncertain economic periods. The company generates $42.4M in free cash flow annually, which funds everything from R&D to shareholder returns without needing external financing. ROE of 6.6% points to modest capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. ROA of 2.2% is on the lower side, which is common in asset-heavy industries. Revenue has grown from $164.4M (2022) to $276.3M (2025), reflecting a 68% increase over the period.

At over 50x earnings, VCEL carries valuation risk — any slowdown in growth expectations could lead to meaningful price adjustments. These risk factors are not exhaustive — macroeconomic shifts, regulatory changes, and competitive dynamics can all influence Vericel Corporation's trajectory.

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