Vericel (NASDAQ: VCEL) reported Q4 EPS of $0.18, $0.02 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $39.4 million versus the consensus estimate of $38.99 million.

Fourth Quarter 2019 Financial Highlights

• Total net product revenues increased 26% to $39.4 million, compared to $31.3 million in the fourth quarter of 2018, marking the eleventh consecutive quarter with record revenues for the reported quarter;
• MACI® net revenue of $33.6 million and Epicel® net revenue of $5.8 million;
• Gross margin of 73%, compared to gross margin of 72% in the fourth quarter of 2018;
• Net income of $9.5 million, or $0.20 per share, compared to $5.2 million, or $0.11 per share, in the fourth quarter of 2018; and
• Non-GAAP adjusted EBITDA of $12.8 million, compared to $7.7 million in the fourth quarter of 2018.

“Our fourth-quarter and full-year results reflect a landmark year for the company in which we not only continued to deliver significant revenue growth, but also achieved strong profit growth and added an exciting new product to our portfolio,” said Nick Colangelo, President and CEO of Vericel. “With expected sustained strong double-digit growth ahead for MACI, together with continued growth for Epicel and the anticipated launch of NexoBrid, we believe that Vericel is well-positioned to deliver substantial revenue, profit, and cash flow growth in the years ahead.”

GUIDANCE:

Vericel sees FY2020 revenue of $141-146 million, versus the consensus of $147.05 million.

• The company expects total net revenues for 2020 to be in the range of $141 million to $146 million, including full-year revenue of approximately $3.0 million from BARDA’s emergency stockpile purchases of NexoBrid.

For earnings history and earnings-related data on Vericel (VCEL) click here.