Investing
Vericel (VCEL) Stock Up 20% on Q3 Results, Higher Guidance
Vericel stock was up 20.5% in trading on November 5, 2026 after Q3 revenue grew 26% to $85.4 million and the company raised full-year guidance.
Vericel stock was up 20.5% in regular trading on November 5, 2026, after the company reported third-quarter 2026 results and raised its full-year outlook. Total net revenue grew 26% to $85.4 million for the quarter ended September 30.
What Vericel reported
| Metric | This period | A year earlier | Change |
|---|---|---|---|
| Total net revenue | $85.4M | $67.5M | +26% |
| MACI net revenue | $67.4M | $55.7M | +21% |
| Burn Care net revenue | $18.0M | $11.9M | +52% |
| Net income | $14.2M ($0.27/share) | $5.1M ($0.10/share) | +179% |
| Adjusted EBITDA | $25.2M | $17.0M | +48% |
Adjusted EBITDA is earnings before interest, taxes, depreciation and amortization, with some items such as stock-based pay stripped out. It reached 30% of revenue, up from 25%. Guidance, the company's own forecast, rose to $344 to $346 million in 2026 revenue from $330 to $340 million, and the adjusted EBITDA margin target rose to 28% from 27%. MACI guidance moved to $290 to $292 million from $284 to $290 million, and Burn Care to $54 million from $46 to $50 million.
Burn Care included $3.0 million of NexoBrid procurement revenue from BARDA, a U.S. government health agency, so commercial NexoBrid sales were $2.3 million. Operating expenses rose to $50.4 million from $46.1 million, mainly from MACI sales force expansion and more marketing.
Why the stock rose 20.5%
The move was close to ten times the size of a typical day's swing for the stock. The new revenue range starts above the top of the old one, so the raise was more than a small adjustment. MACI, the company's knee cartilage repair product, grew 20% or more for a sixth straight quarter. CEO Nick Colangelo also pointed to "the strong start to the fourth quarter for both commercial businesses, and particularly for MACI."
What to watch next
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Whether fourth-quarter sales deliver the $344 to $346 million full-year revenue range.
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Progress on the potential MACI launch in the U.K., targeted for 2027.
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Use of the $191.2 million share buyback authorization still remaining.
FAQ
What products does Vericel sell?
Vericel markets three products in the U.S.: MACI for knee cartilage defects, Epicel, a permanent skin replacement for severe burns, and NexoBrid, which removes dead burned tissue and is licensed from MediWound.
Does Vericel have debt?
No. It held $235.6 million in cash and investments with no debt at September 30, 2026, and bought back 220,744 shares for $8.8 million during the quarter.
Sources
This article is for information only and is not investment advice.