Filing Flows › Vericel (VCEL) › How it makes money
How Vericel (VCEL) makes money
Vericel (VCEL) made $85.4M of revenue in the third quarter 2026 (Q3 2026), +26% from a year earlier. Of every dollar of revenue, 73¢ was left as gross profit, 14¢ was left as operating profit, 17¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $85.4M | 100.0% |
| Cost of revenue | $22.8M | 26.7% |
| Gross profit | $62.6M | 73.3% |
| Operating expenses | $50.4M | 59.1% |
| Operating profit | $12.2M | 14.3% |
| Net earnings | $14.2M | 16.6% |
| Operating cash flow | $17.7M | 20.8% |
| Free cash flow | $15.7M | 18.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $85.4M | +26% |
| Q2 2026 | $77.5M | +22% |
| Q1 2026 | $68.4M | +30% |
| Q4 2025 | $92.9M | +23% |
| Q3 2025 | $67.5M | +17% |
| Q2 2025 | $63.2M | +20% |
| Q1 2025 | $52.6M | +3% |
From Vericel's 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does Vericel make money?
Vericel (VCEL) made $85.4M of revenue in the third quarter 2026 (Q3 2026), +26% from a year earlier. Of every dollar of revenue, 73¢ was left as gross profit, 14¢ was left as operating profit, 17¢ was left as net earnings.
What is Vericel's profit margin?
Net earnings were $14.2M, 16.6% of revenue, in the third quarter 2026; the operating margin was 14.3%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.