VCEL - Vericel GAAP reports Q3 earnings miss; narrows FY22 guidance range below estimates

November, 09 2022 07:58 AM Vericel Corporation

Vericel press release ( NASDAQ: VCEL ): Q3 GAAP EPS of -$0.14 misses by $0.04 .
Revenue of $38.6M (+11.9% Y/Y) misses by $1.3M .
MACI ^® net revenue of $31.0 million, Epicel ^® net revenue of $7.3 million, and NexoBrid ^® revenue of $0.2 million.
Gross margin of 65%.
Non-GAAP adjusted EBITDA of $3.3M.
Operating cash flow of $4.1M.
As of September 30, 2022, approximately $133 million in cash and investments, and no debt.
Full-Year 2022 Financial Guidance Update : Total net revenue expected to be in the range of $164 to $166 million vs. consensus of $178.34M; MACI revenue expected to be approximately $130 to $132 million; Total burn care revenue, including Epicel and NexoBrid, expected to be approximately $34 million; Gross margin expected to be in the mid-60% range and Adjusted EBITDA margin in the mid-teens % range.

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