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Vericel (VCEL) guidance and outlook

Vericel (VCEL) raised its guidance on Nov 5, 2026: Revenue $344M–$346M for FY2026; EBITDA margin 28% for FY2026; Gross margin 75% for FY2026. Vericel's 10-Q filed Nov 5, 2026 makes 12 forward-looking statements.

Guidance and outlook

Latest guidance

From the earnings release filed Nov 5, 2026 (8-K on EDGAR).

Forward-looking statements, 10-Q filed Nov 5, 2026

• Our target audiences are orthopedic surgeons who self-identify and/or have formal specialty training in sports medicine, and a subpopulation of general orthopedic surgeons who perform a high volume of cartilage repair procedures involving the knee.
• Our MACI commercial team consists of individual sales representatives that regularly engage with our target audience.
• In conjunction with the launch of MACI Arthro, we have expanded our target surgeon base from 5,000 to 7,000 to include orthopedic surgeons that perform high volumes of knee cartilage repair surgeries, predominantly through arthroscopic procedures.
• We estimate that approximately 18,000 of those patients suffer from larger ankle cartilage lesions, resulting in an increase of MACI’s addressable market.
• If approved, we believe MACI’s label expansion allowing its use to repair cartilage defects in the ankle will be a significant long-term growth driver for the product in the coming years.
• We are currently focused on obtaining regulatory and marketing approval for MACI in the United Kingdom through the Medicine and Healthcare products Regulatory Agency (“MHRA”) and, if successful, anticipate commercializing MACI in the United Kingdom in 2027.
• The expansion of our target addressable market supports a broader commercial footprint, and we believe that this may help drive both increased NexoBrid use as well as increased Epicel awareness throughout the burn care space.
• Both our Epicel and NexoBrid products are serviced by our burn care field force, which consists of individual sales and clinical representatives that regularly engage with our target audience.
• We believe that our current cash on hand, cash equivalents, investments, and available borrowing capacity will be sufficient to support our current operations through at least 12 months from the issuance of the condensed consolidated financial statements included in this report.
• We have no immediate plans to borrow under the Revolving Credit Agreement, but we may use the facility for working capital needs and other general corporate purposes.
• This report, including the documents incorporated by reference herein, contains certain statements that describe our management’s beliefs concerning future business conditions, plans and prospects, growth opportunities and the outlook for our business based upon information currently available.
• Many factors mentioned in our discussion in our Annual Report on Form 10-K will be important in determining future results.

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Questions

Did Vericel raise or lower its guidance?

Vericel (VCEL) raised its guidance on Nov 5, 2026: Revenue $344M–$346M for FY2026; EBITDA margin 28% for FY2026; Gross margin 75% for FY2026.

What does Vericel expect?

Our target audiences are orthopedic surgeons who self-identify and/or have formal specialty training in sports medicine, and a subpopulation of general orthopedic surgeons who perform a high volume of cartilage repair procedures involving the knee. Our MACI commercial team consists of individual sales representatives that regularly engage with our target audience. In conjunction with the launch of MACI Arthro, we have expanded our target surgeon base from 5,000 to 7,000 to include orthopedic surgeons that perform high volumes of knee cartilage repair surgeries, predominantly through arthroscop

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.