$VCEL
Vericel Corp Stock $vcel

$vcel Overview Financials Valuation SEC Filings Company Website

2017 Q2 Form 10-Q Financial Statement

#000162828017005367 Filed on May 10, 2017

Income Statement

Concept	2017 Q2	2017 Q1	2016 Q1
Revenue	$16.95M	$9.361M	$14.11M
YoY Change	32.21%	-33.65%	30.04%
Cost Of Revenue	$7.670M	$7.109M	$6.560M
YoY Change	5.07%	8.37%	17.82%
Gross Profit	$9.283M	$2.252M	$7.548M
YoY Change	68.08%	-70.16%	42.93%
Gross Profit Margin	54.76%	24.06%	53.5%
Selling, General & Admin	$8.833M	$8.408M	$6.004M
YoY Change	36.97%	40.04%	9.64%
% of Gross Profit	95.15%	373.36%	79.54%
Research & Development	$2.971M	$3.467M	$3.536M
YoY Change	-26.79%	-1.95%	-19.21%
% of Gross Profit	32.0%	153.95%	46.85%
Depreciation & Amortization	$370.0K	$409.0K	$445.0K
YoY Change	-21.28%	-8.09%	35.67%
% of Gross Profit	3.99%	18.16%	5.9%
Operating Expenses	$11.80M	$11.88M	$9.540M
YoY Change	12.34%	24.48%	-3.18%
Operating Profit	-$2.521M	-$9.623M	-$1.992M
YoY Change	-49.42%	383.08%	-56.43%
Interest Expense	$299.0K	$262.0K	$3.000K
YoY Change	9866.67%	8633.33%	50.0%
% of Operating Profit
Other Income/Expense, Net	$133.0K	-$155.0K	-$1.658M
YoY Change	-93.14%	-90.65%	471.72%
Pretax Income	-$2.390M	-$9.780M	-$3.650M
YoY Change	-21.38%	167.95%	-24.9%
Income Tax
% Of Pretax Income
Net Earnings	-$2.388M	-$9.778M	-$3.650M
YoY Change	-21.55%	167.89%	-24.93%
Net Earnings / Revenue	-14.09%	-104.45%	-25.87%
Basic Earnings Per Share
Diluted Earnings Per Share	-$72.93K	-$306.6K	-$161.5K
COMMON SHARES
Basic Shares Outstanding	32.77M shares	32.72M shares	23.85M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2017 Q2	2017 Q1	2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$14.00M	$19.80M	$13.50M
YoY Change	42.86%	46.67%	-47.88%
Cash & Equivalents	$14.00M	$19.80M	$13.50M
Short-Term Investments
Other Short-Term Assets	$1.116M	$1.018M	$662.0K
YoY Change	6.69%	53.78%	-21.66%
Inventory	$3.155M	$3.958M	$1.942M
Prepaid Expenses
Receivables	$14.73M	$12.13M	$9.669M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$33.04M	$36.95M	$25.82M
YoY Change	48.13%	43.12%	-31.92%
LONG-TERM ASSETS
Property, Plant & Equipment	$3.493M	$3.638M	$4.393M
YoY Change	-19.72%	-17.19%	27.48%
Goodwill
YoY Change
Intangibles			$2.847M
YoY Change			-8.95%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$3.493M	$3.638M	$7.240M
YoY Change	-51.0%	-49.75%	10.15%
TOTAL ASSETS
Total Short-Term Assets	$33.04M	$36.95M	$25.82M
Total Long-Term Assets	$3.493M	$3.638M	$7.240M
Total Assets	$36.53M	$40.59M	$33.06M
YoY Change	24.12%	22.78%	-25.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$6.272M	$6.335M	$6.293M
YoY Change	18.23%	0.67%	-6.44%
Accrued Expenses	$589.0K	$605.0K	$16.00K
YoY Change	618.29%	3681.25%	-89.61%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$2.100M	$1.400M
YoY Change
Total Short-Term Liabilities	$12.94M	$14.75M	$13.77M
YoY Change	12.99%	7.14%	9.07%
LONG-TERM LIABILITIES
Long-Term Debt	$8.040M	$8.679M	$62.00K
YoY Change	15361.54%	13898.39%	-38.0%
Other Long-Term Liabilities	$11.00K	$21.00K
YoY Change	-98.63%
Total Long-Term Liabilities	$8.051M	$8.700M	$62.00K
YoY Change	15382.69%	13932.26%	-62.65%
TOTAL LIABILITIES
Total Short-Term Liabilities	$12.94M	$14.75M	$13.77M
Total Long-Term Liabilities	$8.051M	$8.700M	$62.00K
Total Liabilities	$22.56M	$25.08M	$13.83M
YoY Change	83.02%	81.36%	8.14%
SHAREHOLDERS EQUITY
Retained Earnings	-$355.8M	-$353.4M	-$327.7M
YoY Change	7.57%	7.84%
Common Stock	$369.5M	$368.7M	$308.5M
YoY Change	19.42%	19.5%	0.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)			$3.150M
YoY Change
Treasury Stock Shares
Shareholders Equity	$13.97M	$15.50M	$19.23M
YoY Change
Total Liabilities & Shareholders Equity	$36.53M	$40.59M	$33.06M
YoY Change	24.12%	22.78%	-25.7%

Cashflow Statement

Concept	2017 Q2	2017 Q1	2016 Q1
OPERATING ACTIVITIES
Net Income	-$2.388M	-$9.778M	-$3.650M
YoY Change	-21.55%	167.89%	-24.93%
Depreciation, Depletion And Amortization	$370.0K	$409.0K	$445.0K
YoY Change	-21.28%	-8.09%	35.67%
Cash From Operating Activities	-$5.660M	-$3.122M	-$1.270M
YoY Change	10.33%	145.83%	-69.1%
INVESTING ACTIVITIES
Capital Expenditures	-$200.0K	-$70.00K	-$10.00K
YoY Change	-81.13%	600.0%	-97.14%
Acquisitions		$70.00K	$13.00K
YoY Change		438.46%	-96.32%
Other Investing Activities	$0.00	$0.00	-$93.00K
YoY Change		-100.0%	165.71%
Cash From Investing Activities	-$200.0K	-$70.00K	$80.00K
YoY Change	-81.13%	-187.5%	-125.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	50.00K	$61.00K	150.0K
YoY Change	-97.99%	-59.33%	-1600.0%
NET CHANGE
Cash From Operating Activities	-5.660M	-$3.122M	-1.270M
Cash From Investing Activities	-200.0K	-$70.00K	80.00K
Cash From Financing Activities	50.00K	$61.00K	150.0K
Net Change In Cash	-5.810M	-$3.131M	-1.040M
YoY Change	57.03%	201.06%	-76.58%
FREE CASH FLOW
Cash From Operating Activities	-$5.660M	-$3.122M	-$1.270M
Capital Expenditures	-$200.0K	-$70.00K	-$10.00K
Free Cash Flow	-$5.460M	-$3.052M	-$1.260M
YoY Change	34.15%	142.22%	-66.49%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2016Q1	astm	Depreciation Depletionand Amortization Excluding Intangible Assets DepreciationDepletionandAmortizationExcludingIntangibleAssets	400000	USD
CY2017Q1	astm	Depreciation Depletionand Amortization Excluding Intangible Assets DepreciationDepletionandAmortizationExcludingIntangibleAssets	400000	USD
CY2016Q4	astm	Lineof Creditand Term Loan Credit Agreement Current Netof Deferred Costs LineofCreditandTermLoanCreditAgreementCurrentNetofDeferredCosts	779000	USD
CY2017Q1	astm	Lineof Creditand Term Loan Credit Agreement Current Netof Deferred Costs LineofCreditandTermLoanCreditAgreementCurrentNetofDeferredCosts	1446000	USD
CY2017Q1	astm	Operatingand Capital Leasesand Purchase Commitments Future Minimum Payments Due OperatingandCapitalLeasesandPurchaseCommitmentsFutureMinimumPaymentsDue	30000000	USD
CY2017Q1	astm	Operatingand Capital Leasesand Purchase Commitments Future Minimum Payments Due Current OperatingandCapitalLeasesandPurchaseCommitmentsFutureMinimumPaymentsDueCurrent	5679000	USD
CY2017Q1	astm	Operatingand Capital Leasesand Purchase Commitments Future Minimum Payments Due In Four Years OperatingandCapitalLeasesandPurchaseCommitmentsFutureMinimumPaymentsDueInFourYears	5023000	USD
CY2017Q1	astm	Operatingand Capital Leasesand Purchase Commitments Future Minimum Payments Due In Three Years OperatingandCapitalLeasesandPurchaseCommitmentsFutureMinimumPaymentsDueInThreeYears	5791000	USD
CY2017Q1	astm	Operatingand Capital Leasesand Purchase Commitments Future Minimum Payments Due In Two Years OperatingandCapitalLeasesandPurchaseCommitmentsFutureMinimumPaymentsDueInTwoYears	7000000	USD
CY2017Q1	astm	Operatingand Capital Leasesand Purchase Commitments Future Minimum Payments Due Thereafter OperatingandCapitalLeasesandPurchaseCommitmentsFutureMinimumPaymentsDueThereafter	1361000	USD
CY2017Q1	dei	Amendment Flag AmendmentFlag	false
CY2017Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2017Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2017Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2017
CY2017Q1	dei	Document Period End Date DocumentPeriodEndDate	2017-03-31
CY2017Q1	dei	Document Type DocumentType	10-Q
CY2017Q1	dei	Entity Central Index Key EntityCentralIndexKey	0000887359
CY2017Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	32766787	shares
CY2017Q1	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
CY2017Q1	dei	Entity Registrant Name EntityRegistrantName	Vericel Corp
CY2016Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	4523000	USD
CY2017Q1	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	6030000	USD
CY2016Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	6535000	USD
CY2017Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	6335000	USD
CY2016Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	17093000	USD
CY2017Q1	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	12127000	USD
CY2016Q4	us-gaap	Accrued Bonuses Current And Noncurrent AccruedBonusesCurrentAndNoncurrent	2433000	USD
CY2017Q1	us-gaap	Accrued Bonuses Current And Noncurrent AccruedBonusesCurrentAndNoncurrent	3061000	USD
CY2016Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	422000	USD
CY2017Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	605000	USD
CY2016Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	7093000	USD
CY2017Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	7502000	USD
CY2016Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	225000	USD
CY2017Q1	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	249000	USD
CY2016Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	6200000	shares
CY2017Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	5000000	shares
CY2016Q4	us-gaap	Assets Assets	48598000	USD
CY2017Q1	us-gaap	Assets Assets	40588000	USD
CY2016Q4	us-gaap	Assets Current AssetsCurrent	44723000	USD
CY2017Q1	us-gaap	Assets Current AssetsCurrent	36950000	USD
CY2017Q1	us-gaap	Capital Lease Obligations CapitalLeaseObligations	64000	USD
CY2017Q1	us-gaap	Capital Leases Future Minimum Payments Due Current CapitalLeasesFutureMinimumPaymentsDueCurrent	32000	USD
CY2017Q1	us-gaap	Capital Leases Future Minimum Payments Due In Five Years CapitalLeasesFutureMinimumPaymentsDueInFiveYears	0	USD
CY2017Q1	us-gaap	Capital Leases Future Minimum Payments Due In Four Years CapitalLeasesFutureMinimumPaymentsDueInFourYears	0	USD
CY2017Q1	us-gaap	Capital Leases Future Minimum Payments Due In Three Years CapitalLeasesFutureMinimumPaymentsDueInThreeYears	0	USD
CY2017Q1	us-gaap	Capital Leases Future Minimum Payments Due In Two And Three Years CapitalLeasesFutureMinimumPaymentsDueInTwoAndThreeYears	32000	USD
CY2017Q1	us-gaap	Capital Leases Future Minimum Payments Due Thereafter CapitalLeasesFutureMinimumPaymentsDueThereafter	0	USD
CY2015Q4	us-gaap	Cash Cash	14581000	USD
CY2016Q1	us-gaap	Cash Cash	13544000	USD
CY2016Q4	us-gaap	Cash Cash	22978000	USD
CY2017Q1	us-gaap	Cash Cash	19847000	USD
CY2016Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2017Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2016Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	75000000	shares
CY2017Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	75000000	shares
CY2016Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	31595000	shares
CY2017Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	32724000	shares
CY2016Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	31595000	shares
CY2017Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	32724000	shares
CY2016Q4	us-gaap	Common Stock Value CommonStockValue	329720000	USD
CY2017Q1	us-gaap	Common Stock Value CommonStockValue	368683000	USD
CY2017Q1	us-gaap	Conversion Of Stock Shares Issued1 ConversionOfStockSharesIssued1	0	shares
CY2016Q1	us-gaap	Cost Of Goods Sold CostOfGoodsSold	6560000	USD
CY2017Q1	us-gaap	Cost Of Goods Sold CostOfGoodsSold	7109000	USD
CY2016Q4	us-gaap	Deferred Finance Costs Current Net DeferredFinanceCostsCurrentNet	110000	USD
CY2017Q1	us-gaap	Deferred Finance Costs Current Net DeferredFinanceCostsCurrentNet	110000	USD
CY2016Q4	us-gaap	Deferred Finance Costs Noncurrent Net DeferredFinanceCostsNoncurrentNet	293000	USD
CY2017Q1	us-gaap	Deferred Finance Costs Noncurrent Net DeferredFinanceCostsNoncurrentNet	265000	USD
CY2017Q1	us-gaap	Deferred Rent Credit DeferredRentCredit	900000	USD
CY2016Q4	us-gaap	Deferred Rent Credit Noncurrent DeferredRentCreditNoncurrent	1687000	USD
CY2017Q1	us-gaap	Deferred Rent Credit Noncurrent DeferredRentCreditNoncurrent	1632000	USD
CY2016Q4	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	0	USD
CY2017Q1	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	397000	USD
CY2016Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	445000	USD
CY2017Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	409000	USD
CY2016Q4	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	757000	USD
CY2017Q1	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	650000	USD
CY2016Q1	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.24
CY2017Q1	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.31
CY2016Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	1668000	USD
CY2017Q1	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	1967000	USD
CY2016Q1	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	1640000	USD
CY2017Q1	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-107000	USD
CY2016Q1	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-10000	USD
CY2017Q1	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-1000	USD
CY2016Q1	us-gaap	Foreign Currency Transaction Gain Loss Realized ForeignCurrencyTransactionGainLossRealized	-10000	USD
CY2017Q1	us-gaap	Foreign Currency Transaction Gain Loss Realized ForeignCurrencyTransactionGainLossRealized	-1000	USD
CY2016Q1	us-gaap	Gross Profit GrossProfit	7548000	USD
CY2017Q1	us-gaap	Gross Profit GrossProfit	2252000	USD
CY2017Q1	us-gaap	Incentive From Lessor IncentiveFromLessor	2000000	USD
CY2016Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-1976000	USD
CY2017Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-300000	USD
CY2016Q1	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	1340000	USD
CY2017Q1	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	1507000	USD
CY2016Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	580000	USD
CY2017Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	563000	USD
CY2016Q1	us-gaap	Increase Decrease In Other Current Assets IncreaseDecreaseInOtherCurrentAssets	229000	USD
CY2017Q1	us-gaap	Increase Decrease In Other Current Assets IncreaseDecreaseInOtherCurrentAssets	-146000	USD
CY2016Q1	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	24000	USD
CY2017Q1	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	100000	USD
CY2016Q1	us-gaap	Increase Decrease In Receivables IncreaseDecreaseInReceivables	-1250000	USD
CY2017Q1	us-gaap	Increase Decrease In Receivables IncreaseDecreaseInReceivables	-4966000	USD
CY2016Q1	us-gaap	Interest Expense InterestExpense	3000	USD
CY2017Q1	us-gaap	Interest Expense InterestExpense	262000	USD
CY2016Q1	us-gaap	Interest Paid InterestPaid	3000	USD
CY2017Q1	us-gaap	Interest Paid InterestPaid	221000	USD
CY2016Q4	us-gaap	Inventory Finished Goods InventoryFinishedGoods	17000	USD
CY2017Q1	us-gaap	Inventory Finished Goods InventoryFinishedGoods	22000	USD
CY2016Q4	us-gaap	Inventory Net InventoryNet	3488000	USD
CY2017Q1	us-gaap	Inventory Net InventoryNet	3958000	USD
CY2016Q4	us-gaap	Inventory Raw Materials InventoryRawMaterials	3214000	USD
CY2017Q1	us-gaap	Inventory Raw Materials InventoryRawMaterials	3711000	USD
CY2016Q4	us-gaap	Inventory Work In Process InventoryWorkInProcess	257000	USD
CY2017Q1	us-gaap	Inventory Work In Process InventoryWorkInProcess	225000	USD
CY2016Q1	us-gaap	Inventory Write Down InventoryWriteDown	17000	USD
CY2017Q1	us-gaap	Inventory Write Down InventoryWriteDown	93000	USD
CY2016Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	5000	USD
CY2017Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	1000	USD
CY2016Q4	us-gaap	Liabilities Liabilities	23890000	USD
CY2017Q1	us-gaap	Liabilities Liabilities	25084000	USD
CY2016Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	48598000	USD
CY2017Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	40588000	USD
CY2016Q4	us-gaap	Liabilities Current LiabilitiesCurrent	12853000	USD
CY2017Q1	us-gaap	Liabilities Current LiabilitiesCurrent	14752000	USD
CY2016Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	9318000	USD
CY2017Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	8679000	USD
CY2017Q1	us-gaap	Minimum Lease Payments Sale Leaseback Transactions Due In Rolling After Year Five MinimumLeasePaymentsSaleLeasebackTransactionsDueInRollingAfterYearFive	5146000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Continuing Operations NetCashProvidedByUsedInContinuingOperations	-1037000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Continuing Operations NetCashProvidedByUsedInContinuingOperations	-3131000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	152000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	61000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	80000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-70000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	-1269000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	-3122000	USD
CY2016Q1	us-gaap	Net Income Loss NetIncomeLoss	-3650000	USD
CY2017Q1	us-gaap	Net Income Loss NetIncomeLoss	-9778000	USD
CY2016Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-5454000	USD
CY2017Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-9778000	USD
CY2016Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-1658000	USD
CY2017Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-155000	USD
CY2017Q1	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	1	segment
CY2016Q1	us-gaap	Operating Expenses OperatingExpenses	9540000	USD
CY2017Q1	us-gaap	Operating Expenses OperatingExpenses	11875000	USD
CY2016Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-1992000	USD
CY2017Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-9623000	USD
CY2017Q1	us-gaap	Operating Leases Future Minimum Payments Due OperatingLeasesFutureMinimumPaymentsDue	22766000	USD
CY2017Q1	us-gaap	Operating Leases Future Minimum Payments Due In Five Years OperatingLeasesFutureMinimumPaymentsDueInFiveYears	4546000	USD
CY2017Q1	us-gaap	Operating Leases Future Minimum Payments Due In Four Years OperatingLeasesFutureMinimumPaymentsDueInFourYears	4423000	USD
CY2017Q1	us-gaap	Operating Leases Future Minimum Payments Due In Three Years OperatingLeasesFutureMinimumPaymentsDueInThreeYears	4357000	USD
CY2017Q1	us-gaap	Operating Leases Future Minimum Payments Due In Two Years OperatingLeasesFutureMinimumPaymentsDueInTwoYears	4700000	USD
CY2017Q1	us-gaap	Operating Leases Future Minimum Payments Due Thereafter OperatingLeasesFutureMinimumPaymentsDueThereafter	761000	USD
CY2017Q1	us-gaap	Operating Leases Future Minimum Payments Remainder Of Fiscal Year OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear	3979000	USD
CY2016Q1	us-gaap	Operating Leases Rent Expense Net OperatingLeasesRentExpenseNet	1200000	USD
CY2017Q1	us-gaap	Operating Leases Rent Expense Net OperatingLeasesRentExpenseNet	1300000	USD
CY2016Q4	us-gaap	Other Assets Current OtherAssetsCurrent	1164000	USD
CY2017Q1	us-gaap	Other Assets Current OtherAssetsCurrent	1018000	USD
CY2016Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	259000	USD
CY2017Q1	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	291000	USD
CY2016Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	32000	USD
CY2017Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	21000	USD
CY2016Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-10000	USD
CY2017Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	0	USD
CY2016Q1	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	-93000	USD
CY2017Q1	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	0	USD
CY2016Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	97000	USD
CY2017Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	0	USD
CY2016Q1	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	13000	USD
CY2017Q1	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	70000	USD
CY2016Q1	us-gaap	Preferred Stock Accretion Of Redemption Discount PreferredStockAccretionOfRedemptionDiscount	706000	USD
CY2017Q1	us-gaap	Preferred Stock Accretion Of Redemption Discount PreferredStockAccretionOfRedemptionDiscount	102000	USD
CY2016Q1	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	1804000	USD
CY2017Q1	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	0	USD
CY2016Q1	us-gaap	Proceeds From Issuance Of Preferred Stock And Preference Stock ProceedsFromIssuanceOfPreferredStockAndPreferenceStock	258000	USD
CY2017Q1	us-gaap	Proceeds From Issuance Of Preferred Stock And Preference Stock ProceedsFromIssuanceOfPreferredStockAndPreferenceStock	71000	USD
CY2016Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	10968000	USD
CY2017Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	11140000	USD
CY2016Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	3875000	USD
CY2017Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	3638000	USD
CY2017Q1	us-gaap	Purchase Obligation PurchaseObligation	7170000	USD
CY2017Q1	us-gaap	Purchase Obligation Due After Fifth Year PurchaseObligationDueAfterFifthYear	600000	USD
CY2017Q1	us-gaap	Purchase Obligation Due In Fifth Year PurchaseObligationDueInFifthYear	600000	USD
CY2017Q1	us-gaap	Purchase Obligation Due In Fourth Year PurchaseObligationDueInFourthYear	600000	USD
CY2017Q1	us-gaap	Purchase Obligation Due In Next Twelve Months PurchaseObligationDueInNextTwelveMonths	1668000	USD
CY2017Q1	us-gaap	Purchase Obligation Due In Second Year PurchaseObligationDueInSecondYear	2268000	USD
CY2017Q1	us-gaap	Purchase Obligation Due In Third Year PurchaseObligationDueInThirdYear	1434000	USD
CY2016Q1	us-gaap	Repayments Of Debt RepaymentsOfDebt	9000	USD
CY2017Q1	us-gaap	Repayments Of Debt RepaymentsOfDebt	10000	USD
CY2016Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	3536000	USD
CY2017Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	3467000	USD
CY2016Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-343591000	USD
CY2017Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-353369000	USD
CY2016Q1	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	14108000	USD
CY2017Q1	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	9361000	USD
CY2016Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	6004000	USD
CY2017Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	8408000	USD
CY2016Q1	us-gaap	Share Based Compensation ShareBasedCompensation	488000	USD
CY2017Q1	us-gaap	Share Based Compensation ShareBasedCompensation	502000	USD
CY2016Q1	us-gaap	Stock Issued1 StockIssued1	0	USD
CY2017Q1	us-gaap	Stock Issued1 StockIssued1	38389000	USD
CY2016Q4	us-gaap	Stockholders Equity StockholdersEquity	24708000	USD
CY2017Q1	us-gaap	Stockholders Equity StockholdersEquity	15504000	USD
CY2016Q1	us-gaap	Straight Line Rent StraightLineRent	0	USD
CY2017Q1	us-gaap	Straight Line Rent StraightLineRent	-102000	USD
CY2016Q4	us-gaap	Warrants And Rights Outstanding WarrantsAndRightsOutstanding	190000	USD
CY2017Q1	us-gaap	Warrants And Rights Outstanding WarrantsAndRightsOutstanding	190000	USD
CY2016Q1	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	22604000	shares
CY2017Q1	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	31896000	shares
CY2017Q1	us-gaap	Basis Of Accounting BasisOfAccounting	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Basis of Presentation</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The condensed consolidated financial statements included herein have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (SEC).  The preparation of condensed consolidated financial statements in conformity with generally accepted accounting principles in the United States of America (U.S. GAAP) requires management to make estimates, judgments, and assumptions that may affect the reported amounts of assets, liabilities, equity, revenues and expenses. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. The financial statements reflect, in the opinion of management, all adjustments (consisting only of normal, recurring adjustments) necessary to state fairly the financial position and results of operations as of and for the periods indicated.  The results of operations for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March 31, 2017</font><font style="font-family:inherit;font-size:10pt;">, are not necessarily indicative of the results to be expected for the full year or for any other period. The </font><font style="font-family:inherit;font-size:10pt;">March 31, 2017</font><font style="font-family:inherit;font-size:10pt;"> condensed consolidated balance sheet data was derived from the Company’s audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;">, as filed with the SEC on March 13, 2017 (Annual Report).</font></div></div>
CY2017Q1	us-gaap	Nature Of Operations NatureOfOperations	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Vericel Corporation, a Michigan corporation (the Company, Vericel, we, us or our), was incorporated in March 1989 and began employee-based operations in 1991. On May 30, 2014, Vericel completed the acquisition of certain assets and assumed certain liabilities of Sanofi, a French société anonyme (Sanofi), including all of the outstanding equity interests of Genzyme Biosurgery ApS (Genzyme Denmark or the Danish subsidiary) (now known as Vericel Denmark ApS), a wholly-owned subsidiary of Sanofi, and over </font><font style="font-family:inherit;font-size:10pt;">250</font><font style="font-family:inherit;font-size:10pt;"> patent applications of Sanofi and certain of its subsidiaries for purposes of acquiring the portion of the cell therapy and regenerative medicine business (the CTRM Business), which researches, develops, manufactures, markets and sells the Carticel</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></font><font style="font-family:inherit;font-size:10pt;">, MACI</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></font><font style="font-family:inherit;font-size:10pt;">, and Epicel</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></font><font style="font-family:inherit;font-size:10pt;"> products. The Company is a fully integrated, commercial-stage biopharmaceutical company dedicated to the identification, development and commercialization of innovative therapies that enable the body to repair and regenerate damaged tissues and organs to restore normal structure and function. Vericel has marketed products and developmental stage product candidates, and the Company’s goal is to become the leader in cell therapy and regenerative medicine by developing, manufacturing and marketing best-in-class therapies for patients with significant unmet medical needs. </font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company operates its business primarily in the U.S. in </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> reportable segment — the research, product development, manufacture and distribution of patient-specific, expanded cellular therapies for use in the treatment of specific diseases.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#222222;">The accompanying consolidated financial statements have been prepared on a basis which assumes that the Company will continue as a going concern and contemplates the realization of assets and satisfaction of liabilities and commitments in the normal course of business.  As of </font><font style="font-family:inherit;font-size:10pt;color:#222222;">March 31, 2017</font><font style="font-family:inherit;font-size:10pt;color:#222222;">, the Company has an accumulated deficit of </font><font style="font-family:inherit;font-size:10pt;color:#222222;">$353.4 million</font><font style="font-family:inherit;font-size:10pt;color:#222222;"> and had a net loss of </font><font style="font-family:inherit;font-size:10pt;color:#222222;">$9.8 million</font><font style="font-family:inherit;font-size:10pt;color:#222222;"> during the quarter ended </font><font style="font-family:inherit;font-size:10pt;color:#222222;">March 31, 2017</font><font style="font-family:inherit;font-size:10pt;color:#222222;">.  The Company had cash of </font><font style="font-family:inherit;font-size:10pt;color:#222222;">$19.8 million</font><font style="font-family:inherit;font-size:10pt;color:#222222;"> as of </font><font style="font-family:inherit;font-size:10pt;color:#222222;">March 31, 2017</font><font style="font-family:inherit;font-size:10pt;color:#222222;">.  The Company expects that existing cash together with its </font><font style="font-family:inherit;font-size:10pt;">term loan and revolving line of credit agreement with Silicon Valley Bank (SVB) and MidCap Financial Services (MidCap) (the</font><font style="font-family:inherit;font-size:10pt;color:#222222;"> SVB-MidCap facility), will be sufficient to support the Company's current operations through at least May 2018.  In connection with the SVB-MidCap facility, </font><font style="font-family:inherit;font-size:10pt;">the Company must remain in compliance with minimum monthly net revenue covenants (determined in accordance with GAAP), measured on a trailing twelve month basis. </font><font style="font-family:inherit;font-size:10pt;color:#222222;">SVB and MidCap also have the ability to call debt based on material adverse change clauses which are subjectively determinable and result in a </font><font style="font-family:inherit;font-size:10pt;">subjective acceleration clause. </font><font style="font-family:inherit;font-size:10pt;color:#222222;">If the Company's cash requirements exceed its current expectations, or if it is not in compliance with the monthly net revenue covenants or the subjective acceleration clauses are triggered under the SVB-MidCap facility, then SVB may call the debt resulting in the Company immediately needing additional funds.  As of March 31, 2017, the Company was not in compliance with the minimum revenue covenant. On May 9, 2017, the Company entered into an amendment to the SVB-MidCap Facility to enable compliance with the net revenue covenants. See additional discussion in note7 regarding the amendment and change in covenants. The Company may seek additional funding through debt or equity financings including the at-the-market sales agreement in place with Cowen.  However, the Company may not be able to obtain financing on acceptable terms or at all. The terms of any financing may adversely affect the holdings or the rights of the Company's shareholders.  If the Company needs additional funds and is unable to obtain funding on a timely basis, the Company may need to significantly curtail its operations including its research and development programs in an effort to provide sufficient funds to continue its operations, which could adversely affect its business prospects.</font></div></div>

Files In Submission

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$VCEL
Vericel Corp Stock $vcel

2017 Q2 Form 10-Q Financial Statement

#000162828017005367 Filed on May 10, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VCEL Vericel Corp Stock $vcel

2017 Q2 Form 10-Q Financial Statement

#000162828017005367 Filed on May 10, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VCEL
Vericel Corp Stock $vcel