VCEL - Vericel EPS in-line beats on revenue; raises guidance
Vericel (NASDAQ:VCEL): Q2 GAAP EPS of -$0.08 in-line. Revenue of $39.52M (+97.5% Y/Y) beats by $2.74M. Gross margin of 68%, compared to 57% in Q2 2020. Non-GAAP adjusted EBITDA of $7.8M, or 20% of net revenue, compared to adjusted EBITDA loss of $3.5M in Q2 2020. Operating cash flow of $4.8M. As of June 30, 2021, the company had $116M in cash and investments, compared to $100M as of Dec. 31, 2020, and no debt. 2021 Guidance: Total net revenue now expected to be in the range of $168M-$171M, compared to previous guidance range of $165M-$168M. Consensus revenue estimate is $166.91M. Adjusted EBITDA margin now expected to be in the range of 23% to 25%, compared to previous guidance of 21.5% to 23.5%. Maintaining gross margin guidance of 70% to 71% and estimated operating expenses of about $115M. Press Release
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Vericel EPS in-line, beats on revenue; raises guidance