Record First Quarter Revenue
Vericel achieved record first quarter revenue, with MACI revenue surpassing $46 million, driven by strong underlying fundamentals and expansion of the MACI surgeon customer base.
Strong MACI Arthro Launch
The MACI Arthro launch shows significant strength, with trained surgeons driving over 30% biopsy growth. Approximately 400 MACI Arthro surgeons have been trained, surpassing the pace of the 2017 MACI launch.
NexoBrid Revenue Growth
NexoBrid revenue increased over 200% compared to the previous year and over 30% sequentially, with a higher proportion of business from consistent ordering centers.
Positive Financial Guidance
Vericel reaffirms full-year revenue guidance of 20% to 23% growth and raises profitability guidance, expecting a strong second quarter with total company revenue growth of 22% to 25%.
Strong Cash Position
The company generated $6.6 million in operating cash flow and ended the quarter with $162 million in cash, restricted cash, and investments, with no debt.