VERICEL CORPORATION
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $276.3M | $237.2M | $197.5M | $164.4M | $156.2M | $124.2M | $117.9M |
| Cost of Revenue | — | $70.7M | $65.1M | $61.9M | $54.6M | $50.2M | $40.0M | $37.6M |
| Gross Profit | — | $205.6M | $172.1M | $135.6M | $109.8M | $106.0M | $84.2M | $80.3M |
| Gross Margin | — | 74.4% | 72.6% | 68.6% | 66.8% | 67.9% | 67.8% | 68.1% |
| Operating Expenses | ||||||||
| Research & Development | — | $27.6M | $24.8M | $21.0M | $19.9M | $16.3M | $13.0M | $30.4M |
| SG&A Expense | — | $167.0M | $142.8M | $121.0M | $106.9M | $97.6M | $68.8M | $61.1M |
| Operating Income | — | $11.0M | $4.5M | $-6.5M | $-17.1M | $-7.9M | $2.4M | $-11.3M |
| Operating Margin | — | 4.0% | 1.9% | -3.3% | -10.4% | -5.0% | 1.9% | -9.5% |
| Interest Expense | — | — | — | $600.0K | $366.0K | $4.0K | $6.0K | $8.0K |
| Pretax Income | — | $17.4M | $10.5M | $-2.4M | $-16.0M | $-7.6M | $3.0M | $-9.7M |
| Income Tax Expense | — | $859.0K | $148.0K | $814.0K | $721.0K | $-111.0K | $180.0K | $0 |
| Net Income | — | $16.5M | $10.4M | $-3.2M | $-16.7M | $-7.5M | $2.9M | $-9.7M |
| Net Margin | — | 6.0% | 4.4% | -1.6% | -10.2% | -4.8% | 2.3% | -8.2% |
| EPS (Basic) | — | $0.33 | $0.21 | $-0.07 | $-0.35 | $-0.16 | $0.06 | $-0.22 |
| EPS (Diluted) | — | $0.32 | $0.20 | $-0.07 | $-0.35 | $-0.16 | $0.06 | $-0.22 |
| Shares Outstanding (Basic) | 50.8M | 50.3M | 48.8M | 47.6M | 47.1M | 46.5M | 45.2M | 44.2M |
| Shares Outstanding (Diluted) | 50.8M | 52.2M | 51.7M | 47.6M | 47.1M | 46.5M | 47.3M | 44.2M |
| Dividends Per Share | — | — | — | — | — | — | — | — |