$VCEL
Vericel Corp

2020 Q2 Form 10-Q Financial Statement

#000162828020011753 Filed on August 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $20.01M $26.15M
YoY Change -23.47% 37.56%
Cost Of Revenue $8.660M $9.022M
YoY Change -4.01% 16.71%
Gross Profit $11.35M $17.13M
YoY Change -33.71% 51.8%
Gross Profit Margin 56.73% 65.5%
Selling, General & Admin $16.49M $16.26M
YoY Change 1.4% 37.89%
% of Gross Profit 145.2% 94.92%
Research & Development $3.226M $21.07M
YoY Change -84.69% 463.52%
% of Gross Profit 28.41% 123.01%
Depreciation & Amortization $500.0K $400.0K
YoY Change 25.0% 5.26%
% of Gross Profit 4.4% 2.34%
Operating Expenses $19.71M $37.33M
YoY Change -47.19% 140.37%
Operating Profit -$8.358M -$20.20M
YoY Change -58.62% 375.74%
Interest Expense $1.000K $2.000K
YoY Change -50.0% -99.55%
% of Operating Profit
Other Income/Expense, Net $89.00K $408.0K
YoY Change -78.19% -200.74%
Pretax Income -$8.269M -$19.79M
YoY Change -58.22% 325.59%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$8.269M -$19.79M
YoY Change -58.22% 325.54%
Net Earnings / Revenue -41.32% -75.68%
Basic Earnings Per Share -$0.18 -$0.45
Diluted Earnings Per Share -$0.18 -$0.45
COMMON SHARES
Basic Shares Outstanding 45.14M shares 43.91M shares
Diluted Shares Outstanding 45.14M shares

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $80.80M $66.00M
YoY Change 22.42% -30.53%
Cash & Equivalents $55.70M $14.00M
Short-Term Investments $25.10M $52.00M
Other Short-Term Assets $2.900M $2.167M
YoY Change 33.83% 63.3%
Inventory $8.417M $4.788M
Prepaid Expenses
Receivables $23.66M $21.08M
Other Receivables $0.00 $0.00
Total Short-Term Assets $115.8M $94.05M
YoY Change 23.09% -19.97%
LONG-TERM ASSETS
Property, Plant & Equipment $30.80M $6.963M
YoY Change 342.34% 49.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $100.0K
YoY Change
Total Long-Term Assets $30.93M $31.78M
YoY Change -2.67% 580.03%
TOTAL ASSETS
Total Short-Term Assets $115.8M $94.05M
Total Long-Term Assets $30.93M $31.78M
Total Assets $146.7M $125.8M
YoY Change 16.58% 2.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.535M $5.250M
YoY Change -13.62% 4.77%
Accrued Expenses $7.975M $7.300M
YoY Change 9.25% 43.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $18.12M $12.54M
YoY Change 44.47% -17.59%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $100.0K
YoY Change 0.0% -99.31%
Other Long-Term Liabilities $93.00K $24.60M
YoY Change -99.62% 1130.0%
Total Long-Term Liabilities $93.00K $24.70M
YoY Change -99.62% 71.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.12M $12.54M
Total Long-Term Liabilities $93.00K $24.70M
Total Liabilities $39.10M $37.28M
YoY Change 4.86% 18.01%
SHAREHOLDERS EQUITY
Retained Earnings -$391.7M -$391.7M
YoY Change 0.0% 4.96%
Common Stock $499.1M $480.1M
YoY Change 3.97% 3.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $107.6M $88.54M
YoY Change
Total Liabilities & Shareholders Equity $146.7M $125.8M
YoY Change 16.58% 2.97%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$8.269M -$19.79M
YoY Change -58.22% 325.54%
Depreciation, Depletion And Amortization $500.0K $400.0K
YoY Change 25.0% 5.26%
Cash From Operating Activities -$3.020M -$18.38M
YoY Change -83.57% 237.25%
INVESTING ACTIVITIES
Capital Expenditures -$470.0K -$990.0K
YoY Change -52.53% 23.75%
Acquisitions
YoY Change
Other Investing Activities $12.68M -$2.810M
YoY Change -551.25%
Cash From Investing Activities $12.21M -$3.810M
YoY Change -420.47% 376.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 890.0K 1.070M
YoY Change -16.82% -98.5%
NET CHANGE
Cash From Operating Activities -3.020M -18.38M
Cash From Investing Activities 12.21M -3.810M
Cash From Financing Activities 890.0K 1.070M
Net Change In Cash 10.08M -21.12M
YoY Change -147.73% -132.4%
FREE CASH FLOW
Cash From Operating Activities -$3.020M -$18.38M
Capital Expenditures -$470.0K -$990.0K
Free Cash Flow -$2.550M -$17.39M
YoY Change -85.34% 273.98%

Facts In Submission

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vcel Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
1603000 USD
vcel Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
1139000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1601000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1230000 USD
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-8513000 USD
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-2370000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-53000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-680000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1692000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2238000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
27000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2229000 USD
vcel Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-1537000 USD
vcel Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-1007000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
0 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-187000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1665000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-18225000 USD
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
5657000 USD
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
32402000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
32797000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
45477000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1186000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1224000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
25954000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
11851000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1373000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2059000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
163000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-14000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-9000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1196000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2050000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
28815000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4324000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26978000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18286000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
55793000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13962000 USD
us-gaap Nature Of Operations
NatureOfOperations
Organization<div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div style="text-indent:13.5pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Vericel Corporation, a Michigan corporation (together with its consolidated subsidiaries referred to herein as the Company, Vericel, we, us or our), was incorporated in March 1989 and began employee-based operations in 1991. The Company is a fully-integrated, commercial-stage biopharmaceutical company and is a leader in advanced cell therapies for the sports medicine and severe burn care markets. Vericel currently markets two cell therapy products, MACI</span><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">®</sup><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> and Epicel</span><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">®</sup><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">, in the United States. Vericel obtained both products in May 2014, as part of the acquisition of certain assets and the assumption of certain liabilities from Sanofi, a French </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;">société anonyme</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> (Sanofi). </span></div><div style="text-indent:13.5pt;text-align:justify;"><span><br/></span></div><div style="text-indent:13.5pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">MACI</span><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">®</sup><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> (autologous cultured chondrocytes on porcine collagen membrane) is an autologous cellularized scaffold product indicated for the repair of symptomatic, single or multiple full-thickness cartilage defects of the knee with or without bone involvement in adults. The Company also markets Epicel</span><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">®</sup><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> (cultured epidermal autografts), a permanent skin replacement Humanitarian Use Device (HUD) for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns comprising greater than or equal to 30 percent of total body surface area (TBSA). The Company operates its business primarily in the U.S. in one reportable segment — the research, product development, manufacture and distribution of biopharmaceuticals for use in the treatment of specific diseases. </span></div><div style="text-indent:13.5pt;text-align:justify;"><span><br/></span></div><div style="text-indent:13.5pt;padding-right:72pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;">COVID-19</span></div><div style="text-indent:13.5pt;padding-right:72pt;text-align:justify;"><span><br/></span></div><div style="text-indent:13.5pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The novel coronavirus (COVID-19) outbreak was first reported by China in late December 2019 and rapidly spread globally. The World Health Organization (WHO) declared the outbreak a pandemic on March 11, 2020 and the President of the United States declared a national health emergency two days later. Subsequently most states' governments, including those in Massachusetts and Michigan where the Company's operations are located, issued orders requiring businesses that do not conduct essential services to temporarily close their physical workplaces to employees and customers. The status of such orders varies on a state-by-state basis and is likely to continue to vary. Because Vericel is deemed an essential business, the Company is exempt from these state orders in their current form.</span></div><div style="text-indent:13.5pt;text-align:justify;"><span><br/></span></div><div style="text-indent:13.5pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Notwithstanding being an essential business, the Company’s business and operations have been, and are expected to continue to be, adversely impacted by the effects of COVID-19 as a result of various factors including, without limitation, patients’ potential reluctance to undergo elective surgical procedures, healthcare facility restrictions regarding elective surgical procedures, the recent economic downturn due to the pandemic, the imposition of related public health measures and travel and business restrictions and disruptions to the ability of the Company’s employees to perform their jobs.</span></div><div style="text-indent:13.5pt;text-align:justify;"><span><br/></span></div><div style="text-indent:13.5pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;">The implantation of MACI is an elective surgical procedure. On March 13, 2020 and March 14, 2020, the American College of Surgeons and United States Surgeon General, respectively, recommended that each hospital, health system, and surgeon minimize, postpone, or cancel electively scheduled surgeries, which has resulted in a reduction in MACI sales. The stated purpose for these recommendations was that every elective surgery could spread COVID-19 within a facility, use up personal protective equipment (PPE) which may be needed by healthcare workers treating COVID-19 patients, and burden hospital workforce who may be needed to respond to COVID-19. These recommendations were followed by numerous state level executive orders either banning or partially banning elective surgeries. As a result of these restrictions, beginning in mid-March 2020, the Company started to experience a significant increase in cancellations of scheduled MACI procedures as well as a slowdown in new MACI orders. By early April 2020, 45 states, representing over 95% of total U.S. surgical capacity had issued either mandates or recommendations and guidelines suspending elective surgical procedures. These restrictions began to ease in May and, by the end of June 2020, states representing an estimated 90% total U.S. surgical capacity had lifted restrictions suspending elective procedures. It is likely that restrictions will continue to be both lifted and re-imposed as regional COVID 19 cases rates fall and rise. The Company’s MACI business will continue to be negatively impacted so long as multiple state orders and/or facilities restrict elective surgical procedures.</span></div><div style="text-indent:13.5pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:103%;">Going Concern</span></div><div style="text-indent:13.5pt;text-align:justify;"><span><br/></span></div><div style="text-indent:13.5pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The accompanying condensed 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 the satisfaction of liabilities and commitments in the normal course of business.  As of June 30, 2020, the Company had an accumulated deficit of $391.7 million and incurred a net loss of $8.3 million and $13.0 million for the three and six months ended June 30, 2020, respectively.  The Company had cash and cash equivalents of $55.8 million and investments of $25.1 million as of June 30, 2020. The Company expects that existing cash, cash equivalents and investments will be sufficient to support the </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Company’s</span><span style="background-color:rgb(255,255,255, 0.0);color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">current operations through at least 12 months from the issuance of these financial statements.</span><span style="background-color:rgb(255,255,255, 0.0);color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">However, the continuing effects of the COVID-19 pandemic may require the Company to engage in layoffs, furloughs and/or reductions in salary, all of which may result in irrecoverable losses of customers and significantly impact long-term liquidity.</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span><span style="background-color:#ffffff;color:#263238;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">If</span><span style="background-color:rgb(255,255,255, 0.0);color:#263238;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> elective surgery restrictions are reinstated on a widespread basis, significantly impacting </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">the Company's business, the Company may need to a</span><span style="background-color:rgb(255,255,255, 0.0);color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">ccess additional capital; however, the Company may not be able to obtain financing on acceptable terms or at all, particularly in light of the impact of COVID-19 on the global economy and financial markets. The terms of any financing may adversely affect the holdings or the rights of the </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Company’s</span><span style="background-color:rgb(255,255,255, 0.0);color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> shareholders.</span></div>
CY2020Q2 vcel Numberof Products
NumberofProducts
2 product
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-391700000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-8300000 USD
us-gaap Net Income Loss
NetIncomeLoss
-13000000.0 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
55800000 USD
CY2020Q2 us-gaap Investments
Investments
25100000 USD
us-gaap Basis Of Accounting
BasisOfAccounting
Basis of Presentation<div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;"> </span></div><div style="text-indent:13.5pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The accompanying condensed consolidated financial statements as of June 30, 2020 and for the </span><span style="background-color:rgb(255,255,255, 0.0);color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">three and six months ended</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> June 30, 2020 are unaudited and 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 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. We base our estimates on historical experience and on various other assumptions that we believe are reasonable, the results of which form the basis for making judgments about the carrying values of assets, liabilities and equity and the amount of revenues and expenses. The full extent to which the COVID-19 pandemic will continue to directly or indirectly impact our business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, clinical trials, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to continue to contain it or treat COVID-19, as well as the economic impact on our customers. We have made estimates of the impact of COVID-19 within our financial statements and there may be changes to those estimates in future periods. Actual results may differ from these estimates. As of June 30, 2020, the Company has not recorded impairments to investments, inventory, other current assets or long-lived assets as a result of the COVID-19 pandemic and does not expect material impairments in the future. The Company has assessed the impact of COVID-19 on accounts receivables (see note 4).</span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div style="text-indent:13.5pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">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 December 31, 2019 as filed with the SEC on February 25, 2020 (Annual Report).</span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;">Consolidated Statement of Cash Flows</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-indent:18pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The following table presents certain supplementary cash flows information for the six months ended June 30, 2020 and 2019:</span></div><div style="margin-top:5pt;margin-bottom:5pt;"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%;"><tr><td style="width:1.0%;"/><td style="width:72.415%;"/><td style="width:1.0%;"/><td style="width:1.0%;"/><td style="width:10.426%;"/><td style="width:1.0%;"/><td style="width:0.1%;"/><td style="width:0.530%;"/><td style="width:0.1%;"/><td style="width:1.0%;"/><td style="width:10.429%;"/><td style="width:1.0%;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="9" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Six Months Ended June 30,</span></td><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:9pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">(In thousands)</span></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">2020</span></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"/><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><span style="font-size:8pt;font-weight:700;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">2019</span></td><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:700;font-style:italic;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Supplementary Cash Flows information:</span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"/><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Non-cash information:</span></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:6.75pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Right-of-use asset and lease liability recognized</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">$</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:top;padding-right:0%;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">429 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:top;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">$</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:top;padding-right:0%;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">560 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:top;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:6.75pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Additions to property, plant and equipment included in accounts payable</span></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:top;padding-left:1pt;padding-right:0%;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">55 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:top;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:top;padding-left:1pt;padding-right:0%;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">365 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:top;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Cash information:</span></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:6.75pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">Interest paid (net of interest capitalized)</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">$</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:top;padding-right:0%;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">3 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:top;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">$</span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:top;padding-right:0%;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);">4 </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:top;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman',sans-serif;color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr></table></div><div style="text-indent:13.5pt;"><span><br/></span></div><div style="text-indent:13.5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Total cash, cash equivalents, and restricted cash of $55.8 million as of June 30, 2020, shown in the statement of cash flows is comprised of cash and cash equivalents of $55.7 million and restricted cash of $0.1 million which is included in other long term assets on the consolidated balance sheet. As of June 30, 2019, cash and cash equivalents were $14.0 million and the Company did not have any restricted cash.</span></div>
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
429000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
560000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
55000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
365000 USD
us-gaap Interest Paid Net
InterestPaidNet
3000 USD
us-gaap Interest Paid Net
InterestPaidNet
4000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
55800000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
55700000 USD
CY2020Q2 us-gaap Restricted Cash
RestrictedCash
100000 USD
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14000000.0 USD
CY2019Q2 us-gaap Restricted Cash
RestrictedCash
0 USD
CY2020Q2 vcel Number Of Contracted Specialty Pharmacies
NumberOfContractedSpecialtyPharmacies
2 pharmacy
CY2020Q2 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
4400000 USD
CY2019Q4 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
3900000 USD
vcel Revenue Revenue Recognized Changein Uncollectible Analysis Percentage
RevenueRevenueRecognizedChangeinUncollectibleAnalysisPercentage
0.005
vcel Revenue Revenue Recognized Effect Of0.5 Change In The Estimated Uncollectible Percentage Amount
RevenueRevenueRecognizedEffectOf0.5ChangeInTheEstimatedUncollectiblePercentageAmount
-100000 USD
CY2020Q2 us-gaap Revenues
Revenues
20014000 USD
CY2019Q2 us-gaap Revenues
Revenues
26151000 USD
us-gaap Revenues
Revenues
46692000 USD
us-gaap Revenues
Revenues
47961000 USD
CY2020Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
7853000 USD
CY2019Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
6085000 USD
CY2020Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
513000 USD
CY2019Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
541000 USD
CY2020Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
51000 USD
CY2019Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
190000 USD
CY2020Q2 us-gaap Inventory Net
InventoryNet
8417000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
6816000 USD
CY2020Q2 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
129000 USD
CY2019Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
148000 USD
CY2020Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
17178000 USD
CY2019Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
16364000 USD
CY2020Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
10138000 USD
CY2019Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
9220000 USD
CY2020Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
7040000 USD
CY2019Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
7144000 USD
CY2020Q2 us-gaap Depreciation
Depreciation
500000 USD
us-gaap Depreciation
Depreciation
1100000 USD
CY2019Q2 us-gaap Depreciation
Depreciation
400000 USD
us-gaap Depreciation
Depreciation
700000 USD
CY2020Q2 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
2872000 USD
CY2019Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
5116000 USD
CY2020Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2578000 USD
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1785000 USD
CY2020Q2 vcel Accrued Expenses Other Current
AccruedExpensesOtherCurrent
2525000 USD
CY2019Q4 vcel Accrued Expenses Other Current
AccruedExpensesOtherCurrent
1047000 USD
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7975000 USD
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7948000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 USD
CY2020Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 USD
CY2019Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 USD
CY2020Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
1400000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
2900000 USD
CY2019Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
1300000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
2600000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 USD
CY2019Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 USD
CY2020Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 USD
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
23800000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
25103000 USD
CY2020Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
129000 USD
CY2019Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
148000 USD
CY2020Q2 vcel Right Of Use Asset
RightOfUseAsset
23929000 USD
CY2019Q4 vcel Right Of Use Asset
RightOfUseAsset
25251000 USD
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5570000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5461000 USD
CY2020Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
41000 USD
CY2019Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
41000 USD
CY2020Q2 vcel Lease Liability Current
LeaseLiabilityCurrent
5611000 USD
CY2019Q4 vcel Lease Liability Current
LeaseLiabilityCurrent
5502000 USD
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
20881000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
22242000 USD
CY2020Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
93000 USD
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
110000 USD
CY2020Q2 vcel Lease Liability Noncurrent
LeaseLiabilityNoncurrent
20974000 USD
CY2019Q4 vcel Lease Liability Noncurrent
LeaseLiabilityNoncurrent
22352000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-8269000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
69926000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
145000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
70071000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
70071000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
57436000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
21000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
57457000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
57457000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-19792000 USD
us-gaap Net Income Loss
NetIncomeLoss
-12974000 USD
us-gaap Net Income Loss
NetIncomeLoss
-22636000 USD
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
45137000 shares
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
43956000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
45031000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
43841000 shares
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.18
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.45
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.29
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.52

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