Vericel reported its third‑quarter 2025 financial results on November 6, 2025, showing total revenue of $67.5 million, up 16% year‑over‑year. The company’s flagship MACI product generated $55.7 million, a 25% increase from the same quarter last year, underscoring continued demand for its cartilage‑repair therapy.
The quarter also marked a turnaround to $5.1 million in net income and a 25% adjusted EBITDA margin, compared with a loss in the same period in 2024. Operating cash flow reached $22.1 million, and Vericel trained more than 800 MACI Arthro surgeons, indicating rapid adoption of the new arthroscopic delivery platform.
Vericel’s cash position stood at $185 million with no debt, providing a solid liquidity base to fund ongoing product development, manufacturing expansion, and potential future acquisitions.
These results demonstrate improved profitability, stronger cash generation, and growing market penetration for Vericel’s core therapies, positioning the company for continued growth in the regenerative‑medicine space.
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