Filing Flows › Vericel (VCEL) › Q3 2026 › vs Q3 2025
Vericel (VCEL) Q3 2026 vs Q3 2025 (year over year)
Vericel's revenue rose $17.9M (+26%) from $67.5M in Q3 2025 to $85.4M in Q3 2026. Gross margin 73.3% against 73.5% (-0.1 pts).
Vericel, Q3 2026: revenue $85.4M (+26% year over year), operating margin 14.3%, net earnings $14.2M, operating cash flow $17.7M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 73.3% | 73.5% | -0.1 pts |
| Operating margin | 14.3% | 5.1% | +9.2 pts |
| Net margin | 16.6% | 7.5% | +9.1 pts |
| Free cash flow margin | 18.4% | 28.8% | -10.4 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $85.4M | $67.5M | $17.9M | +26% |
| Gross profit | $62.6M | $49.6M | $13.0M | +26% |
| Cost of revenue | $22.8M | $17.9M | $4.8M | +27% |
| Other income, net | $2.0M | $1.6M | $351K | +22% |
| Operating profit | $12.2M | $3.5M | $8.7M | +253% |
| Operating expenses | $50.4M | $46.1M | $4.3M | +9% |
| Pre-tax earnings | $14.2M | $5.1M | $9.1M | +179% |
| Research & development | $6.9M | $6.3M | $567K | +9% |
| Net earnings | $14.2M | $5.1M | $9.1M | +179% |
| Depreciation & amortization | $3.6M | $2.9M | $683K | +23% |
| Share-based compensation | $7.8M | $8.7M | −$876K | -10% |
| Working capital & other | $7.9M | −$5.4M | $13.3M | — |
| Operating cash flow | $17.7M | $22.1M | −$4.4M | -20% |
| Free cash flow (company-reported) | $15.7M | $19.5M | −$3.8M | -19% |
| Capital expenditures | $2.0M | $2.6M | −$588K | -22% |
Questions
How much did Vericel's revenue grow year over year in Q3 2026?
Vericel's revenue rose $17.9M (+26%) from $67.5M in Q3 2025 to $85.4M in Q3 2026. Gross margin 73.3% against 73.5% (-0.1 pts).