2022 Q3 Form 10-Q Financial Statement

#000162828022020355 Filed on August 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $38.55M $37.05M $36.07M
YoY Change 11.72% -6.26% 4.36%
Cost Of Revenue $13.32M $14.19M $12.62M
YoY Change 7.33% 12.55% 8.97%
Gross Profit $25.23M $22.85M $23.45M
YoY Change 14.19% -15.07% 2.03%
Gross Profit Margin 65.45% 61.69% 65.01%
Selling, General & Admin $26.98M $27.14M $25.87M
YoY Change 18.44% 3.64% 14.14%
% of Gross Profit 106.9% 118.77% 110.29%
Research & Development $5.046M $4.792M $4.860M
YoY Change 17.79% 7.71% 33.88%
% of Gross Profit 20.0% 20.97% 20.72%
Depreciation & Amortization $1.000M $1.100M $900.0K
YoY Change 42.86% 57.14% 12.5%
% of Gross Profit 3.96% 4.81% 3.84%
Operating Expenses $32.02M $31.94M $30.73M
YoY Change 18.34% 4.23% 16.87%
Operating Profit -$6.788M -$9.082M -$7.273M
YoY Change 36.83% 143.55% 120.06%
Interest Expense $105.0K $20.00K $18.00K
YoY Change 10400.0% 1900.0% 1700.0%
% of Operating Profit
Other Income/Expense, Net $232.0K $119.0K $182.0K
YoY Change 673.33% 693.33% 14.47%
Pretax Income -$6.556M -$8.963M -$7.091M
YoY Change 32.95% 141.33% 125.4%
Income Tax $21.00K $0.00 $0.00
% Of Pretax Income
Net Earnings -$6.577M -$8.963M -$7.091M
YoY Change 33.38% 136.74% 115.6%
Net Earnings / Revenue -17.06% -24.19% -19.66%
Basic Earnings Per Share -$0.14 -$0.19 -$0.15
Diluted Earnings Per Share -$0.14 -$0.19 -$0.15
COMMON SHARES
Basic Shares Outstanding 47.18M shares 47.12M shares 46.99M shares
Diluted Shares Outstanding 47.18M shares 47.12M shares 46.99M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $110.9M $100.7M $100.5M
YoY Change 12.87% 10.68% 20.27%
Cash & Equivalents $65.22M $56.10M $55.70M
Short-Term Investments $45.72M $44.64M $44.89M
Other Short-Term Assets $4.410M $4.809M $5.093M
YoY Change -5.89% 68.5% 20.89%
Inventory $16.73M $15.93M $14.39M
Prepaid Expenses
Receivables $34.30M $33.66M $31.86M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $166.4M $155.1M $151.9M
YoY Change 14.78% 11.97% 19.39%
LONG-TERM ASSETS
Property, Plant & Equipment $58.55M $59.50M $59.10M
YoY Change 0.02% 1.91% 1.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $21.74M $23.72M $22.80M
YoY Change 7.43% -4.46% -12.3%
Other Assets $1.357M $317.0K $317.0K
YoY Change 519.63% 50.24% 58.5%
Total Long-Term Assets $81.64M $89.72M $88.41M
YoY Change 3.09% 7.55% 4.93%
TOTAL ASSETS
Total Short-Term Assets $166.4M $155.1M $151.9M
Total Long-Term Assets $81.64M $89.72M $88.41M
Total Assets $248.0M $244.8M $240.3M
YoY Change 10.65% 10.3% 13.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.113M $9.684M $7.750M
YoY Change 45.52% 19.06% -12.19%
Accrued Expenses $13.95M $12.13M $10.79M
YoY Change 27.59% 9.53% 8.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $41.00K $41.00K
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $27.00M $25.01M $21.73M
YoY Change 43.42% 4.82% -6.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $21.00K $19.00K
YoY Change -100.0% -66.13% -81.0%
Other Long-Term Liabilities $0.00 $21.00K $19.00K
YoY Change -100.0% -66.13% -66.67%
Total Long-Term Liabilities $0.00 $21.00K $19.00K
YoY Change -100.0% -66.13% -66.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.00M $25.01M $21.73M
Total Long-Term Liabilities $0.00 $21.00K $19.00K
Total Liabilities $70.18M $70.00M $67.80M
YoY Change 4.18% -1.21% -4.84%
SHAREHOLDERS EQUITY
Retained Earnings -$405.9M -$399.3M -$390.4M
YoY Change 4.67% 4.28% 2.97%
Common Stock $584.9M $575.0M $563.5M
YoY Change 7.4% 7.68% 8.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $177.8M $174.8M $172.5M
YoY Change
Total Liabilities & Shareholders Equity $248.0M $244.8M $240.3M
YoY Change 10.65% 10.3% 13.63%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$6.577M -$8.963M -$7.091M
YoY Change 33.38% 136.74% 115.6%
Depreciation, Depletion And Amortization $1.000M $1.100M $900.0K
YoY Change 42.86% 57.14% 12.5%
Cash From Operating Activities $4.101M $3.143M $3.468M
YoY Change 12.85% -34.04% -65.62%
INVESTING ACTIVITIES
Capital Expenditures -$1.409M -$1.981M $3.081M
YoY Change -42.79% -6.6% 31.5%
Acquisitions
YoY Change
Other Investing Activities $598.0K -$1.016M -$7.588M
YoY Change -460.24% -92.08% -152.22%
Cash From Investing Activities -$811.0K -$2.997M -$10.67M
YoY Change -69.15% -79.95% -187.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -312.0K 249.0K $503.0K
YoY Change -117.46% -93.42% -77.76%
NET CHANGE
Cash From Operating Activities 4.101M 3.143M $3.468M
Cash From Investing Activities -811.0K -2.997M -$10.67M
Cash From Financing Activities -312.0K 249.0K $503.0K
Net Change In Cash 2.978M 395.0K -$6.698M
YoY Change 6.66% -106.17% -127.3%
FREE CASH FLOW
Cash From Operating Activities $4.101M $3.143M $3.468M
Capital Expenditures -$1.409M -$1.981M $3.081M
Free Cash Flow $5.510M $5.124M $387.0K
YoY Change -9.63% -25.59% -95.0%

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Organization<div style="text-align:justify;text-indent:13.5pt"><span style="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, or Vericel), 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 therapies for the sports medicine and severe burn care markets. Vericel currently markets two cell therapy products in the U.S., MACI</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">® </span><span style="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) and Epicel</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">® </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(cultured epidermal autografts).</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">MACI 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. Epicel is a permanent skin replacement 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 also holds an exclusive license from MediWound Ltd. (“MediWound”) for North American rights to NexoBrid</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, a registration-stage biological orphan product designed for the debridement of severe thermal burns. The Company operates its business primarily in the U.S. in one reportable segment — the research, product development, manufacture and distribution of cellular therapies for use in the treatment of specific diseases. </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="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="padding-right:72pt;text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The ongoing pandemic caused by the spread of a novel strain of coronavirus (“COVID-19”) has created significant disruptions to the U.S. and global economy and has contributed to significant volatility in financial markets. The global impact of the outbreak has fluctuated since early 2020. At times, many state, local and national governments – including those in Massachusetts and Michigan, where the Company’s operations are located – have responded by issuing, extending and supplementing orders requiring quarantines, restrictions on travel, and the mandatory closure of certain non-essential businesses, among other actions. Because Vericel is deemed an essential business, the Company has been exempted from government orders requiring the closure of workplaces and the cessation of business operations. The vast majority of these restrictions have since been rescinded throughout most of the U.S. </span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="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 at times have been adversely impacted by the ongoing effects of the COVID-19 pandemic. For example, as a result of periodic restrictions placed on the performance of elective surgical procedures, Vericel experienced a significant increase in cancellations of scheduled MACI procedures as well as a slowdown in new MACI orders during March and April of 2020. The widespread suspension of surgical procedures impacted the Company’s business and operations during the first and second quarters of 2020. The level and degree of restriction on elective surgeries, on the ability of patients to seek treatment and on U.S. business operations generally fluctuated throughout 2020 as COVID-19 infection rates rose and fell during the summer months and into the autumn. By the first quarter of 2021, the pandemic’s effects on the Company’s MACI business had largely dissipated. During the summer of 2021, however, the pandemic’s direct and ancillary effects again began to cause some disruption to the Company’s MACI business. Following the cessation of COVID-19-related travel restrictions in many parts of the U.S. and the availability of vaccinations in May and June 2021, some MACI patients postponed or delayed treatment. Further, surges of new COVID-19 cases during the second half of 2021 caused by the spread of the “Delta” and “Omicron” variants again caused disruptions to health care networks including restrictions on the performance of elective procedures, the availability of physicians and/or their treatment prioritizations, the level of healthcare facility staffing and, in some instances, the willingness or ability of patients to seek treatment. Consequently, and notwithstanding the widespread distribution of vaccines, these factors contributed to a slowdown of MACI procedures during the third and fourth quarters of 2021 and during the first and second quarters of 2022. Although hospitals are now better prepared for subsequent surges in COVID-19 patients, the risk remains that regional or local restrictions could again be placed on the performance of elective surgical procedures if the number of COVID-19 infections in the U.S. were to rise, or if new or existing COVID-19 variants render current vaccine treatments ineffective. </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Because Epicel is used almost exclusively in an emergent setting by burn centers and surgeons throughout the country, Epicel revenue and procedure volumes have been less affected by the pandemic. Nevertheless, the number of large burns and burn admissions can be affected by restrictions on human activity resulting from more severe government lockdown orders.</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the outset of the pandemic, the Company put in place a comprehensive workplace protection plan, which instituted protective measures in response to COVID-19. Vericel’s workplace protection plan has closely followed guidance issued by the Centers for Disease Control and Prevention (“CDC”) and has complied with applicable federal and state law. To date, Vericel has been successful in sustaining its operations and providing MACI and Epicel to patients in need. The Company continues to </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">review its policies and procedures regularly, including its workplace protection plan, as the pandemic evolves and the Company may take additional actions to the extent required.</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company continues to manufacture MACI and Epicel and is maintaining a significant safety stock of all key raw materials. Vericel does not expect that current supply chain interruptions will impact its ongoing manufacturing operations. With respect to customer delivery, MACI final product has an established shelf life of six (6) days and an established shipping shelf life of three (3) days. Currently, MACI is picked up by courier and shipped by commercial air or ground transportation to customer surgical sites. Epicel final product has an established shelf life of 48 hours and is hand carried to customer hospitals by courier. Transportation is primarily by commercial or charter airline. Although the Company has not experienced material shipping delays, significant disruption of air travel could result in the inability to deliver MACI or Epicel final products to customer sites within appropriate timeframes, which could further adversely impact the Company’s business. At this time, the Company is not aware of COVID-19 related impacts on its distributors, operations or third-party service providers’ ability to manage patient cases. The Company believes it is possible that it could experience variable business impacts, should a new resurgence of COVID-19 infections occur in the future.</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">The Conflict in Ukraine</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The current conflict between Russia and Ukraine and the related sanctions and other penalties imposed by countries across the globe against Russia are creating substantial uncertainty in the global economy and resulting in heightened inflation and supply chain disruptions. While the Company does not have operations in Russia or Ukraine and does not have exposure to distributors, or third-party service providers in Russia or Ukraine, it is unable to predict the impact that these actions will have on the global economy or on its financial condition, results of operations, and cash flows as of the date of these unaudited condensed consolidated financial statements.</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="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 </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">June 30, 2022, the Company had an accumulated deficit of </span><span style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$399.3 million</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and had a </span><span style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">net loss of $16.1 million during the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">six months ended</span><span style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> June 30, 2022. The Company had cash and cash equivalents of $56.1 million and investments of $68.4 million as of June 30, 2022. The Company expects that cash from the sales of its products and existing cash, cash equivalents and investments will be sufficient to support the Company’s current operations through at least 12 months from the issuance of these condensed consolidated financial statements. The effects of the COVID-19 pandemic continue to evolve, however. To the extent the U.S. experiences a worsening in COVID-19 infections or the emergence of additional virus variants that result in more serious disease or limit the effectiveness of existing vaccines, subsequent healthcare measures – to include the postponement or cessation of elective and other surgical procedures – may cause the Company to experience a reduction in business and resulting revenue. This, consequently, may result in irrecoverable losses of customers and significantly impact the Company’s long-term liquidity, potentially requiring the Company to engage in layoffs, furloughs and/or reductions in salaries. The Company also may need to access 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 Company’s shareholders.</span></div>
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Basis of Presentation<div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying c</span><span style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ondensed consolidated financial statements</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of Vericel 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 </span><span style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">condensed consolidated financial statements</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates, judgments, and assumptions that may affect the reported amounts of assets, liabilities, equity, revenue 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. </span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Company bases its estimates on historical experience and on various other assumptions that it believes 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 revenue and expenses. The full extent to which the COVID-19 pandemic will continue to directly or indirectly impact the Company’s 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 </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">developments that are highly uncertain, including as a result of new information that may emerge concerning the COVID-19 pandemic and the actions taken to continue to contain or treat COVID-19, as well as the economic impact on its customers. The Company has made estimates of the impact of the COVID-19 pandemic within these financial statements and there may be changes to those estimates in future periods. Actual results may differ from these estimates. As of June 30, 2022, the Company has not recorded impairments to investments, inventory, other current assets or long-lived assets as a result of the COVID-19 pandemic.</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The condensed consolidated balance sheet as of December 31, 2021 has been derived from the audited consolidated financial statements at that date, but does not include all the information and notes required by U.S. GAAP for complete financial statements. These c</span><span style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ondensed consolidated financial statements</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 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, 2021, as filed with the SEC on February 24, 2022 (“Annual Report”).</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recent Accounting Pronouncements</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">No new accounting standards were adopted during the quarter ended June 30, 2022.</span></div>
CY2022Q2 vcel Number Of Contracted Specialty Pharmacies
NumberOfContractedSpecialtyPharmacies
2 pharmacy
CY2022Q2 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
6700000 usd
CY2021Q4 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
7000000 usd
vcel Revenue Revenue Recognized Changein Uncollectible Analysis Percentage
RevenueRevenueRecognizedChangeinUncollectibleAnalysisPercentage
0.0050
vcel Revenue Revenue Recognized Effect Of0.5 Change In The Estimated Uncollectible Percentage Amount
RevenueRevenueRecognizedEffectOf0.5ChangeInTheEstimatedUncollectiblePercentageAmount
300000 usd
CY2022Q2 us-gaap Revenues
Revenues
37046000 usd
CY2021Q2 us-gaap Revenues
Revenues
39519000 usd
us-gaap Revenues
Revenues
73120000 usd
us-gaap Revenues
Revenues
74087000 usd
CY2022Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
15175000 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
12676000 usd
CY2022Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
683000 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
644000 usd
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
71000 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
61000 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
15929000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
13381000 usd
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
55000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
74000 usd
CY2022Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
32169000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
27630000 usd
CY2022Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
16250000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
14322000 usd
CY2022Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
15919000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
13308000 usd
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1100000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1900000 usd
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
700000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1500000 usd
CY2022Q2 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
3942000 usd
CY2021Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
6305000 usd
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3555000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3616000 usd
CY2022Q2 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
4585000 usd
CY2021Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
3973000 usd
CY2022Q2 vcel Accrued Expenses Other Current
AccruedExpensesOtherCurrent
51000 usd
CY2021Q4 vcel Accrued Expenses Other Current
AccruedExpensesOtherCurrent
151000 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
12133000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
14045000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 usd
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 usd
CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 usd
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
1700000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
3500000 usd
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
1800000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
3700000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 usd
CY2021Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 usd
CY2022Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
43583000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
45720000 usd
CY2022Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
55000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
73000 usd
CY2022Q2 vcel Right Of Use Asset
RightOfUseAsset
43638000 usd
CY2021Q4 vcel Right Of Use Asset
RightOfUseAsset
45793000 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3156000 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2950000 usd
CY2022Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
41000 usd
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
41000 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
44964000 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
47147000 usd
CY2022Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
21000 usd
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
44000 usd
CY2022Q2 vcel Lease Liability Noncurrent
LeaseLiabilityNoncurrent
48182000 usd
CY2021Q4 vcel Lease Liability Noncurrent
LeaseLiabilityNoncurrent
50182000 usd
CY2022Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
69212000 usd
CY2022Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2022Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
856000 usd
CY2022Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
68356000 usd
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
68356000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
60909000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
154000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
60755000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
60755000 usd
vcel Debt Securities Available For Sale Contractual Maturity Period
DebtSecuritiesAvailableForSaleContractualMaturityPeriod
P3Y
CY2021 vcel Debt Securities Available For Sale Contractual Maturity Period
DebtSecuritiesAvailableForSaleContractualMaturityPeriod
P3Y
CY2022Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2021Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-8963000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-3786000 usd
us-gaap Net Income Loss
NetIncomeLoss
-16054000 usd
us-gaap Net Income Loss
NetIncomeLoss
-7075000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47117000 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46403000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47052000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46195000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47117000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46403000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47052000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46195000 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.15
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.15

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