Filing Flows › Vericel (VCEL) › Q2 2026 › vs Q2 2025
Vericel (VCEL) Q2 2026 vs Q2 2025 (year over year)
Vericel's revenue rose $14.2M (+22%) from $63.2M in Q2 2025 to $77.5M in Q2 2026. Gross margin 72.8% against 73.7% (-0.9 pts).
Vericel, Q2 2026: revenue $77.5M (+22% year over year), operating margin 0.6%, net earnings $2.2M, operating cash flow $16.2M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 72.8% | 73.7% | -0.9 pts |
| Operating margin | 0.6% | -3.2% | +3.8 pts |
| Net margin | 2.8% | -0.9% | +3.7 pts |
| Free cash flow margin | 18.4% | 0.1% | +18.3 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $77.5M | $63.2M | $14.2M | +22% |
| Gross profit | $56.4M | $46.6M | $9.8M | +21% |
| Cost of revenue | $21.1M | $16.6M | $4.4M | +27% |
| Other income, net | $1.8M | $1.5M | $296K | +20% |
| Operating profit | $434K | −$2.0M | $2.5M | — |
| Operating expenses | $56.0M | $48.6M | $7.3M | +15% |
| Pre-tax earnings | $2.2M | −$553K | $2.8M | — |
| Research & development | $7.5M | $6.7M | $762K | +11% |
| Net earnings | $2.2M | −$553K | $2.8M | — |
| Depreciation & amortization | $3.6M | $2.8M | $794K | +28% |
| Share-based compensation | $9.1M | $10.1M | −$1.1M | -10% |
| Working capital & other | $1.3M | −$4.2M | $5.5M | — |
| Operating cash flow | $16.2M | $8.2M | $8.0M | +97% |
| Free cash flow (company-reported) | $14.3M | $81K | $14.2M | 176× |
| Capital expenditures | $1.9M | $8.1M | −$6.2M | -76% |
Questions
How much did Vericel's revenue grow year over year in Q2 2026?
Vericel's revenue rose $14.2M (+22%) from $63.2M in Q2 2025 to $77.5M in Q2 2026. Gross margin 72.8% against 73.7% (-0.9 pts).