VCEL - Vericel EPS misses by $0.03 beats on revenue

Vericel (VCEL): Q1 GAAP EPS of -$0.07 misses by $0.03.Revenue of $34.57M (+29.6% Y/Y) beats by $2.53M.Gross margin of 66%, compared to 63% in the first quarter of 2020.Non-GAAP adjusted EBITDA of $4.6 million, or 13% of net revenue, compared to adjusted EBITDA loss of $0.7 million in the first quarter of 2020Operating cash flow of $10.1 millionAs of March 31, 2021, the Company had $110 million in cash and investments, compared to $100 million as of December 31, 2020, and no debt.2021 Guidance: Total net revenue now expected to be in the range of $165-$168 million, compared to previous guidance of approximately $161-$164 million;Adjusted EBITDA margin now expected to be in the range of 21.5% to 23.5%, compared to previous guidance of 21 to 23%; Gross margin guidance of 70% to 71% and estimated operating expenses of approximately $115 million maintained.Press Release

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Vericel EPS misses by $0.03, beats on revenue