VCEL - Vericel beats Q2 top and bottom line estimates; raises FY23 revenue outlook

2023-08-02 07:58:24 ET

• Vericel press release ( NASDAQ: VCEL ): Q2 GAAP EPS of -$0.11 beats by $0.04 .
• Revenue of $45.9M (+23.9% Y/Y) beats by $3.77M .
• Non-GAAP adjusted EBITDA of $4.4 million.
• Operating cash flow of $10.2 million.
• As of June 30, 2023, the Company had approximately $147 million in cash, restricted cash and investments, and no debt.

• 2023 Financial Guidance : Total net revenue for 2023 now expected to be in the range of $190 to $197 million vs. consensus of $190.29M compared to the previous guidance of $184 to $192 million.

• Maintaining profitability guidance of gross margin in the high-60% range and adjusted EBITDA margin in the mid-teens % range.

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