Vericel Corp (VCEL) stock price on Wednesday remains upward. The VCEL stock gained 2.99% in the normal trading session and gained 11.09% more in the after-hours session.
Let us see what’s the latest news about Vericel Corp.
VCEL Set to Join S&P SmallCap 600
VCEL is going to replace QEP Resources Inc. (NYSE: QEP)in the S&P SmallCap 600 from Monday, March 22, 2021. QEP Resources has been acquired by Diamondback Energy Inc. in a transaction that closed on March 17.
Participation in Oppenheimer 31st Annual Healthcare Conference
VCEL participated virtually in Oppenheimer 31st Annual Healthcare Conference on March 17, 2021. VCEL Stock was represented by President and CEONick Colangelo.
Participation in H.C. Wainwright Virtual Global Life Sciences Conference
VCEL was virtually present in H.C. Wainwright Virtual Global Life Sciences Conference which held on March 9 2021. Vericel overview was presented by Joe Mara, Chief Financial Officer.
VECL announced the Q4 and full-year 2020 ended December 31, 2020result on February 24, 2021.
Q4 Financial Highlights
- Total net revenue for the quarter was $45.2 million, compared to $39.4 million in the fourth quarter of 2019.
VCEL gross profit for Q4 was $33.6 millioncompared to $28.8 million in Q4 2019.
- Total operating expenseswere $21.4 millioncompared to $19.6 million for the same period in 2019.
- VCEL Net income was $12.2 million, or $0.25 per share, compared to $9.5 million, or $0.20 per share, for Q4 in 2019.
- Non-GAAP adjusted EBITDA was $16.0 million for Q4 2020.
- Full-Year 2020 Highlights
- VCEL total net revenue was $124.2 million for the year 2020, compared to $117.9 million in 2019.
- Gross profit for the full year was $84.2 millioncompared to $80.3 million in the prior year.
- VCEL spent $81.9 million inoperating expenses for the full year 2020, compared to $91.5 million for the previous year.
- Net income for the year ended December 31, 2020, was $2.9 million, or $0.06 per share, compared to a net loss of $9.7 million, or $0.22 per share, in 2019.
- Non-GAAP adjusted EBITDA was $18.6 million, compared to $21.2 million in the prior year.
- Vericel had no debt and has $100 million in cash and investments as of December 31, 2020, compared to $79 million as of December 31, 2019.
Financial Outlook for 2021
- VCEL is expecting net revenue of $161 million to $164 million for 2021
- Vericel is expecting gross margin to be around 71% and Adjusted EBITDA to be 21-23%