2022 Q4 Form 10-Q Financial Statement

#000162828022029082 Filed on November 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $52.69M $38.55M
YoY Change 10.72% 11.72%
Cost Of Revenue $14.45M $13.32M
YoY Change 6.53% 7.33%
Gross Profit $38.25M $25.23M
YoY Change 12.39% 14.19%
Gross Profit Margin 72.59% 65.45%
Selling, General & Admin $26.92M $26.98M
YoY Change 3.67% 18.44%
% of Gross Profit 70.38% 106.9%
Research & Development $5.245M $5.046M
YoY Change 33.66% 17.79%
% of Gross Profit 13.71% 20.0%
Depreciation & Amortization $1.039M $1.000M
YoY Change 33.21% 42.86%
% of Gross Profit 2.72% 3.96%
Operating Expenses $32.16M $32.02M
YoY Change 7.6% 18.34%
Operating Profit $6.085M -$6.788M
YoY Change 46.95% 36.83%
Interest Expense $540.0K $105.0K
YoY Change 800.0% 10400.0%
% of Operating Profit 8.87%
Other Income/Expense, Net -$3.000K $232.0K
YoY Change -142.86% 673.33%
Pretax Income $6.622M -$6.556M
YoY Change 57.37% 32.95%
Income Tax $700.0K $21.00K
% Of Pretax Income 10.57%
Net Earnings $5.922M -$6.577M
YoY Change 30.61% 33.38%
Net Earnings / Revenue 11.24% -17.06%
Basic Earnings Per Share -$0.14
Diluted Earnings Per Share $0.13 -$0.14
COMMON SHARES
Basic Shares Outstanding 47.22M shares 47.18M shares
Diluted Shares Outstanding 47.18M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $119.5M $110.9M
YoY Change 15.61% 12.87%
Cash & Equivalents $51.07M $65.22M
Short-Term Investments $68.47M $45.72M
Other Short-Term Assets $4.803M $4.410M
YoY Change 13.12% -5.89%
Inventory $15.99M $16.73M
Prepaid Expenses
Receivables $46.54M $34.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $186.9M $166.4M
YoY Change 17.92% 14.78%
LONG-TERM ASSETS
Property, Plant & Equipment $57.37M $58.55M
YoY Change -2.81% 0.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $19.96M $21.74M
YoY Change -22.29% 7.43%
Other Assets $1.303M $1.357M
YoY Change 311.04% 519.63%
Total Long-Term Assets $86.14M $81.64M
YoY Change 1.05% 3.09%
TOTAL ASSETS
Total Short-Term Assets $186.9M $166.4M
Total Long-Term Assets $86.14M $81.64M
Total Assets $273.0M $248.0M
YoY Change 12.02% 10.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.93M $8.113M
YoY Change 87.78% 45.52%
Accrued Expenses $16.19M $13.95M
YoY Change 15.27% 27.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $41.00K $41.00K
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $37.46M $27.00M
YoY Change 43.8% 43.42%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.46M $27.00M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $80.73M $70.18M
YoY Change 10.22% 4.18%
SHAREHOLDERS EQUITY
Retained Earnings -$400.0M -$405.9M
YoY Change 4.36% 4.67%
Common Stock $593.2M $584.9M
YoY Change 7.1% 7.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $192.3M $177.8M
YoY Change
Total Liabilities & Shareholders Equity $273.0M $248.0M
YoY Change 12.02% 10.65%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $5.922M -$6.577M
YoY Change 30.61% 33.38%
Depreciation, Depletion And Amortization $1.039M $1.000M
YoY Change 33.21% 42.86%
Cash From Operating Activities $6.975M $4.101M
YoY Change -33.89% 12.85%
INVESTING ACTIVITIES
Capital Expenditures $1.125M -$1.409M
YoY Change -213.52% -42.79%
Acquisitions
YoY Change
Other Investing Activities -$20.60M $598.0K
YoY Change -816.41% -460.24%
Cash From Investing Activities -$21.73M -$811.0K
YoY Change -1252.73% -69.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 605.0K -312.0K
YoY Change -54.88% -117.46%
NET CHANGE
Cash From Operating Activities 6.975M 4.101M
Cash From Investing Activities -21.73M -811.0K
Cash From Financing Activities 605.0K -312.0K
Net Change In Cash -14.15M 2.978M
YoY Change -202.7% 6.66%
FREE CASH FLOW
Cash From Operating Activities $6.975M $4.101M
Capital Expenditures $1.125M -$1.409M
Free Cash Flow $5.850M $5.510M
YoY Change -49.32% -9.63%

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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-weight:400;line-height:120%">The Company is subject to risks common to companies in the life sciences industry including, but not limited to, development by the Company or its competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, commercialization of existing and new products, and compliance with U.S. Food and Drug Administration (“FDA”) regulations and approval requirements, as well as the ability to grow the Company’s business through appropriate commercial strategies.</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%">In March 2020, the World Health Organization declared the spread of a novel strain of coronavirus (“COVID-19”) to be a pandemic. This pandemic has contributed to an economic downturn on a global scale, as well as significant volatility in the financial markets. Since the pandemic’s inception, there has been significant volatility in our results of operations on a quarterly basis due to the widespread and periodic cancellation or delay of elective MACI surgical procedures throughout the U.S., staffing shortages and our ability to access customers.</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 the spread of the COVID-19 virus. 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 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 global supply chain interruptions will impact its ongoing manufacturing operations. Additionally, 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 adversely impact the Company’s business. Currently, the Company is not aware of COVID-19 related impacts on its distributors, operations or third-party service providers’ ability to manage patient cases. </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 believes that a resurgence of COVID-19 because of emerging variants or other factors could result in additional disruptions that could impact our business and operations in the future, including intermittent restrictions on the ability of the Company’s personnel to travel and access customers for selling, marketing, training and case support and product development feedback, delays in approvals by regulatory bodies, delays in product development efforts, and additional government requirements or other incremental mitigation efforts that may further impact the Company’s capacity to manufacture, sell and support the use of our products.</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 War 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 ongoing war between Russia and Ukraine and the related sanctions and other penalties imposed by countries across the globe against Russia are continuing to create substantial uncertainty in the global economy and have contributed to heightened inflation and supply chain disruptions. While the Company does not have operations in Russia or Ukraine and does not have </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%">exposure to distributors, or third-party service providers in Russia or Ukraine, it is unable to predict the ultimate 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%">September 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%">$405.9 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 $22.6 million during the nine</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> months ended</span><span style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> September 30, 2022. The Company had cash and cash equivalents of $65.2 million and investments of $67.5 million as of September 30, 2022. The Company expects that cash from the sales of its products and existing cash, cash equivalents, investments, and available borrowing capacity 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 additional virus variants emerge 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 additional 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 additional 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 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 September 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 the Company’s 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 nine months ended September 30, 2022. The Company considers the applicability and impact of any recent Accounting Standards Update (“ASU”) issued by the Financial Accounting Standards Board (“FASB”). Based on the assessment, the ASU’s were determined to be either not applicable or are expected to have minimal impact on the Company's condensed consolidated financial statements.</span></div>
CY2022Q3 us-gaap Revenues
Revenues
38551000 usd
CY2021Q3 us-gaap Revenues
Revenues
34506000 usd
us-gaap Revenues
Revenues
111671000 usd
us-gaap Revenues
Revenues
108593000 usd
CY2022Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
15797000 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
12676000 usd
CY2022Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
883000 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
644000 usd
CY2022Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
49000 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
61000 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
16729000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
13381000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
46000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
74000 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
33182000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
27630000 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
17264000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
14322000 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
15918000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
13308000 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1000000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2900000 usd
CY2021Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
700000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2200000 usd
CY2022Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
5472000 usd
CY2021Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
6305000 usd
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2897000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3616000 usd
CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 usd
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 usd
CY2022Q3 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
5417000 usd
CY2021Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
3973000 usd
CY2022Q3 vcel Accrued Expenses Other Current
AccruedExpensesOtherCurrent
162000 usd
CY2021Q4 vcel Accrued Expenses Other Current
AccruedExpensesOtherCurrent
151000 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13948000 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
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000 usd
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
1700000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
5200000 usd
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
1800000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
5500000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 usd
CY2021Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
42628000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
45720000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
46000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
73000 usd
CY2022Q3 vcel Right Of Use Asset
RightOfUseAsset
42674000 usd
CY2021Q4 vcel Right Of Use Asset
RightOfUseAsset
45793000 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4902000 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2950000 usd
CY2022Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
41000 usd
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
41000 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
43176000 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
47147000 usd
CY2022Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
0 usd
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
44000 usd
CY2022Q3 vcel Lease Liability Noncurrent
LeaseLiabilityNoncurrent
48119000 usd
CY2021Q4 vcel Lease Liability Noncurrent
LeaseLiabilityNoncurrent
50182000 usd
CY2022Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
68608000 usd
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1146000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
67463000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
67463000 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
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2021Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2022Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-6577000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-4931000 usd
us-gaap Net Income Loss
NetIncomeLoss
-22631000 usd
us-gaap Net Income Loss
NetIncomeLoss
-12006000 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47182000 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46669000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47096000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46355000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47182000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46669000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47096000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46355000 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.48
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.26
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.48
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26

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