Filing Flows › Vericel (VCEL) › Q3 2026
Vericel (VCEL) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Vericel (VCEL) reported revenue of $85.4M for the third quarter 2026 (Q3 2026), +26% from a year earlier and +10% from the quarter before. Operating margin was 14.3%, net earnings $14.2M (16.6% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $85.4M | +10% | +26% |
| Gross profit | $62.6M | +11% | +26% |
| Operating profit | $12.2M | 28× | +253% |
| Net earnings | $14.2M | +542% | +179% |
| Operating cash flow | $17.7M | +9% | -20% |
| Free cash flow | $15.7M | — | -19% |
What changed
Revenue was $85.4M in Q3 2026, up 26% year over year and up 10% from the previous quarter.
Gross margin was 73.3%, down 0.1 points from Q3 2025. Operating profit was $12.2M, a 14.3% margin (up 9.2 points year over year). Of the extra revenue versus Q3 2025, 49% reached operating profit, above the 5% margin then. Operating expenses grew 9% against revenue growth of 26%. Net earnings were $14.2M, up 179% year over year. The effective tax rate was 0.0%.
Operating cash flow was $17.7M (down 20% year over year), 125% of net earnings. Non-cash charges added back $3.6M of depreciation and amortization and $7.8M of share-based compensation. Working capital and other items used $7.9M. After capital expenditures ($2.0M), free cash flow as the company reports it was $15.7M.
Questions
What was Vericel's revenue in the third quarter 2026?
Vericel (VCEL) reported revenue of $85.4M for the third quarter 2026 (Q3 2026), +26% from a year earlier and +10% from the quarter before.
Was Vericel profitable in the third quarter 2026?
Operating profit was $12.2M (14.3% of revenue) and net earnings $14.2M.
Source: Vericel 10-Q on SEC EDGAR.