Vericel raises 2026 revenue guidance after third-quarter growth of 26%

Vericel Corporation reported financial results for the third quarter ended September 30, 2026, on November 5, 2026. Total net revenue for the quarter increased 26% to $85.4 million, compared to $67.5 million in the third quarter of 2025.¹

MACI net revenue grew 21% to $67.4 million, and Burn Care net revenue grew 52% to $18.0 million, with Epicel revenue of $12.7 million and NexoBrid revenue of $5.3 million.¹ The company said this marked record third quarter total revenue and MACI revenue, and the highest quarterly Burn Care revenue to date, with MACI revenue growth of 20% or more for the sixth consecutive quarter.¹ It also reported the highest Epicel quarterly revenue since launch, up 23% versus the prior year, and the highest NexoBrid quarterly commercial revenue since launch, up 54% versus the prior year and 46% versus the prior quarter.¹ Vericel recognized $3.0 million of BARDA procurement revenue during the quarter.¹

On pipeline timing, the company said it remains on track for a potential MACI launch in the United Kingdom in 2027.¹

Vericel raised its full-year 2026 guidance. It now expects total revenue of $344 to $346 million, up from $330 to $340 million previously, MACI revenue of $290 to $292 million, up from $284 to $290 million, and Burn Care revenue of $54 million, up from $46 to $50 million. Adjusted EBITDA margin guidance was raised to 28% from 27%, while full-year gross margin guidance was reaffirmed at approximately 75%.¹

On cash position, Vericel reported $235.6 million in cash and investments and no debt¹ as of September 30, 2026. Net income for the quarter was $14.2 million, or $0.27 per diluted share, compared to $5.1 million, or $0.10 per diluted share, in the third quarter of 2025.¹