Vericel sees 2023 revenue $197.5M, consensus $195.04M

MACI net revenue expected to be approximately $164.8 million, representing 25% growth; Burn Care net revenue expected to be approximately $32.7 million, consisting of approximately $31.6 million of Epicel revenue and $1.1 million of NexoBrid revenue; Gross margin expected to be in the high-60% range; Adjusted EBITDA margin expected to be in the mid-teens percentage range, with full-year adjusted EBITDA growth expected to be approximately 30%; As of December 31, 2023, the Company had approximately $152 million in cash, restricted cash and investments and no debt. “The Company had a very strong close to the year with outstanding fourth quarter financial results driven by high revenue growth in both of our franchises and strong business fundamentals across our portfolio,” said Nick Colangelo, President and CEO of Vericel. “We enter 2024 with a great deal of momentum and expect another year of high revenue growth and increasing profitability driven by continued strong execution with our core products, a full year of NexoBrid on the U.S. market and the anticipated launch of arthroscopic MACI later this year.”