Filing Flows › Vericel (VCEL) › Q1 2025
Vericel (VCEL) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Vericel (VCEL) reported revenue of $52.6M for the first quarter 2025 (Q1 2025), +3% from a year earlier and -30% from the quarter before. Operating margin was -24.3%, net loss $11.2M (21.4% of revenue).
Vericel, Q1 2025: revenue $52.6M (+3% year over year), operating margin -24.3%, net loss $11.2M, operating cash flow $6.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $52.6M | -30% | +3% |
| Operating profit | −$12.8M | — | — |
| Net earnings | −$11.2M | — | — |
| Operating cash flow | $6.6M | -70% | -8% |
What changed
Revenue was $52.6M in Q1 2025, up 3% year over year and down 30% from the previous quarter.
Gross margin was 69.0%, unchanged from a year earlier. Operating costs exceeded revenue by $12.8M, an operating margin of -24.3%. Operating expenses grew 20% against revenue growth of 3%. The fastest-growing cost line was General & admin (+27%). The quarter ended with a net loss of $11.2M, after a profit of $19.8M the previous quarter.
Operating cash flow was $6.6M (down 8% year over year). Non-cash charges added back $2.7M of depreciation and amortization and $11.5M of share-based compensation. Working capital and other items added $3.7M. Capital expenditures of $14.2M exceeded it, leaving free cash flow of −$7.6M.
Questions
What was Vericel's revenue in the first quarter 2025?
Vericel (VCEL) reported revenue of $52.6M for the first quarter 2025 (Q1 2025), +3% from a year earlier and -30% from the quarter before.
Was Vericel profitable in the first quarter 2025?
Operating loss was $12.8M (-24.3% of revenue) and net loss $11.2M.
Source: Vericel 10-Q on SEC EDGAR.