VCEL - Vericel sees 2022 revenue in line with estimates

• Vericel ( NASDAQ: VCEL ) has reported prelim revenue of $164M-$165M for full-year 2022, in line with consensus estimate of $164.81M.
• MACI net revenue is expected to be ~$132M, at the high end of guidance range, with Q4 revenue growth of ~24% Y/Y. Burn Care net revenue is estimated at $32.5M for full-year 2022.
• The company expects tenth straight quarter with positive adjusted EBITDA and operating cash flow. As of December 31, 2022, it had approximately $140M in cash and investments and no debt.
• Nick Colangelo, President and CEO of Vericel, said: "We made tremendous progress advancing our pipeline and expanding our business in 2022, highlighted by an accelerated regulatory pathway for the MACI arthroscopic delivery program and the recent approval of NexoBrid. We also had very strong MACI performance to close the year and we look forward to building on this momentum in 2023 across both of our franchises, as we expect accelerating total revenue growth this year and further acceleration in 2024 driven by a full year of NexoBrid on the market and the planned launch of arthroscopic MACI."

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