VERICEL CORPORATION Reports Second Quarter Earnings Results for FY2023
August 9, 2023
🌥️Earnings Overview
Vericel Corporation ($NASDAQ:VCEL) reported that their total revenue for the second quarter of FY2023, ending June 30 2023, was USD 45.9 million, an increase of 23.9% over the same period in the previous year. Their reported net income was -5.0 million, a significant improvement from the -9.0 million reported in the same quarter of the previous year. The results were announced on August 2 2023.
Price History
VERICEL CORPORATION, one of the leading biotherapeutics companies, reported its second quarter earnings results for FY2023 on Wednesday. The company opened at $35.0 and closed at $34.6, resulting in a decrease of 1.4% from its previous closing price of $35.1. This marks a slight dip in the stock prices after the company’s strong performance in the first quarter of the fiscal year.
Additionally, product sales and royalty income both increased significantly compared to the corresponding quarter of 2022. Moreover, the company’s management is looking to capitalize on the current positive momentum by continuing to drive innovation and further expanding its product portfolio. Management has also stated that it is focused on maximizing its return on investment and further strengthening its competitive position in the market. Investors will be closely watching to see how the company performs in the upcoming quarters as it strives to build on its existing success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Vericel Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 178.18 | -13.17 | -7.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Vericel Corporation. More…
| Operations | Investing | Financing |
| 29.13 | -22.15 | 1.59 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Vericel Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 310.71 | 111.78 | 4.18 |
Key Ratios Snapshot
Some of the financial key ratios for Vericel Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.2% | – | -6.6% |
| FCF Margin | ROE | ROA |
| 7.6% | -3.8% | -2.4% |
Analysis
GoodWhale has been analyzing the financials of VERICEL CORPORATION. According to the GoodWhale Star Chart, VERICEL CORPORATION is strong in asset, growth, and profitability, but relatively weak in dividend. This type of company would be attractive to investors who are looking for a relatively stable investment with the potential to generate above-average returns. What’s more, VERICEL CORPORATION has an intermediate health score of 6/10 considering its cashflows and debt, indicating that it is likely to safely ride out any crisis without the risk of bankruptcy. Thus, investors who are comfortable with moderate levels of risk may find this a good option. More…
Peers
In the realm of regenerative medicine, there are many companies vying for supremacy. Vericel Corp is one such company that is in competition with Regenerx Biopharmaceuticals Inc, 2seventy bio Inc, and Geron Corp. All of these companies are working to develop cutting-edge treatments for a variety of ailments. While there is intense competition between these firms, it is ultimately patients who stand to benefit from their efforts.
– Regenerx Biopharmaceuticals Inc ($OTCPK:RGRX)
Regenerx Biopharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the development of technologies to regenerate damaged tissues and organs. The company’s lead product, ReNovaRx, is a biodegradable scaffold that is being evaluated in a Phase 2 clinical trial for the treatment of chronic non-healing wounds. The company has a market cap of 25.52M as of 2022 and a Return on Equity of 35.12%.
– 2seventy bio Inc ($NASDAQ:TSVT)
As of 2022, the market cap for 2seventy bio Inc. is 557.88M. The company’s Return on Equity (ROE) is -43.71%. 2seventy bio Inc is a biotechnology company that focuses on the development of treatments for patients with cancer.
– Geron Corp ($NASDAQ:GERN)
Geron Corporation is a clinical stage biopharmaceutical company, which focuses on the development of a telomerase inhibitor, imetelstat, for the treatment of hematologic malignancies. The company was founded by Michael D. West and Thomas C. Okarma in 1990 and is headquartered in Menlo Park, CA.
Geron’s market cap is $831.2 million as of 2022. The company has a return on equity (ROE) of -58.28%. Geron Corporation focuses on the development of a telomerase inhibitor, imetelstat, for the treatment of hematologic malignancies.
Summary
Vericel Corporation reported their second quarter earnings for FY2023 on August 2, 2023, with total revenue of USD 45.9 million, a year-over-year increase of 23.9%. Net income improved from -9.0 million to -5.0 million. From an investment point of view, the company’s consistent organic growth and improving bottom line suggest potential upside in the stock.
The trend of steadily increasing revenue and profitability suggest that Vericel Corporation is on the right track. Investors should look out for further positive developments in coming quarters.
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