The following is a summary of the Vericel Corporation (VCEL) Q3 2024 Earnings Conference Call Transcript:

Financial Performance:

• Vericel reported a robust Q3 with a 27% increase in total net revenue, reaching $57.9 million.

• MACI revenue grew by 19% to $44.7 million and continues to show growth potential.

• Burn Care revenue saw a 66% increase to $13.2 million, with Epicel revenue achieving a quarterly record at $12.2 million.

• Gross profit margin reached 72% of net revenue, marking a record outside of their highest fourth quarter, growing 480 basis points over the previous year.

• Adjusted EBITDA for the quarter increased 84% to $10 million, indicating strong profitability improvements.

Business Progress:

• Regulatory milestones achieved with FDA approval of MACI Arthro and next-of-kin pediatric indication for NexoBrid, setting the stage for continued growth.

• Significant advances in surgeon engagement and training programs, particularly surrounding MACI Arthro.

• Continued expansion of the burn care portfolio, significantly driven by Epicel and NexoBrid.

Opportunities:

• MACI Arthro launch represents an opportunity to penetrate a greater share of the surgeon market, potentially increasing MACI utilization.

• Expansion of manufacturing facilities to support sustained growth and allow for potential global expansion.

Risks:

• The recent increase in interest rates and potential economic fluctuations could impact the broader market, affecting discretionary medical procedures and investments.

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