2023 Q1 Form 10-K Financial Statement

#000162828023004714 Filed on February 23, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $41.02M $52.69M $164.4M
YoY Change 13.7% 10.72% 5.24%
Cost Of Revenue $14.50M $14.45M $54.58M
YoY Change 14.86% 6.53% 8.81%
Gross Profit $26.52M $38.25M $109.8M
YoY Change 13.08% 12.39% 3.55%
Gross Profit Margin 64.66% 72.59% 66.8%
Selling, General & Admin $29.49M $26.92M $106.9M
YoY Change 14.0% 3.67% 9.54%
% of Gross Profit 111.18% 70.38% 97.37%
Research & Development $5.212M $5.245M $19.94M
YoY Change 7.24% 33.66% 22.45%
% of Gross Profit 19.65% 13.71% 18.17%
Depreciation & Amortization $1.158M $1.039M $4.000M
YoY Change 28.67% 33.21% 33.33%
% of Gross Profit 4.37% 2.72% 3.64%
Operating Expenses $34.70M $32.16M $126.8M
YoY Change 12.93% 7.6% 11.39%
Operating Profit -$8.177M $6.085M -$17.06M
YoY Change 12.43% 46.95% 117.19%
Interest Expense $145.0K $540.0K $366.0K
YoY Change 705.56% 800.0% 9050.0%
% of Operating Profit 8.87%
Other Income/Expense, Net $682.0K -$3.000K $1.070M
YoY Change 274.73% -142.86% 293.38%
Pretax Income -$7.495M $6.622M -$15.99M
YoY Change 5.7% 57.37% 110.87%
Income Tax $700.0K $721.0K
% Of Pretax Income 10.57%
Net Earnings -$7.495M $5.922M -$16.71M
YoY Change 5.7% 30.61% 123.65%
Net Earnings / Revenue -18.27% 11.24% -10.17%
Basic Earnings Per Share -$0.16 -$0.35
Diluted Earnings Per Share -$0.16 $0.13 -$0.35
COMMON SHARES
Basic Shares Outstanding 47.36M shares 47.22M shares 47.13M shares
Diluted Shares Outstanding 47.39M shares 47.13M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $119.3M $119.5M $119.5M
YoY Change 18.63% 15.61% 15.61%
Cash & Equivalents $61.80M $51.07M $51.07M
Short-Term Investments $57.44M $68.47M $68.47M
Other Short-Term Assets $4.540M $4.803M $4.803M
YoY Change -10.86% 13.12% 13.12%
Inventory $15.37M $15.99M $15.99M
Prepaid Expenses
Receivables $38.36M $46.54M $46.54M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $177.5M $186.9M $186.9M
YoY Change 16.9% 17.92% 17.92%
LONG-TERM ASSETS
Property, Plant & Equipment $59.05M $57.37M $57.37M
YoY Change -0.09% -2.81% -2.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $19.91M $19.96M $19.96M
YoY Change -12.69% -22.29% -22.29%
Other Assets $1.249M $1.303M $1.303M
YoY Change 294.01% 311.04% 146.78%
Total Long-Term Assets $87.55M $86.14M $86.14M
YoY Change -0.97% 1.05% 1.05%
TOTAL ASSETS
Total Short-Term Assets $177.5M $186.9M $186.9M
Total Long-Term Assets $87.55M $86.14M $86.14M
Total Assets $265.1M $273.0M $273.0M
YoY Change 10.32% 12.02% 12.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.13M $16.93M $16.93M
YoY Change 43.55% 87.78% 87.78%
Accrued Expenses $13.11M $16.19M $20.49M
YoY Change 21.48% 15.27% 20.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $20.00K $41.00K $41.00K
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $28.75M $37.46M $37.46M
YoY Change 32.31% 43.8% 43.8%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Long-Term Liabilities $42.37M $0.00 $43.27M
YoY Change 222873.68% -100.0% -8.23%
Total Long-Term Liabilities $42.37M $0.00 $43.27M
YoY Change 222873.68% -100.0% -8.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.75M $37.46M $37.46M
Total Long-Term Liabilities $42.37M $0.00 $43.27M
Total Liabilities $71.12M $80.73M $80.73M
YoY Change 4.89% 10.22% 10.22%
SHAREHOLDERS EQUITY
Retained Earnings -$407.5M -$400.0M
YoY Change 4.39% 4.36%
Common Stock $602.1M $593.2M
YoY Change 6.86% 7.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $194.0M $192.3M $192.3M
YoY Change
Total Liabilities & Shareholders Equity $265.1M $273.0M $273.0M
YoY Change 10.32% 12.02% 12.02%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$7.495M $5.922M -$16.71M
YoY Change 5.7% 30.61% 123.65%
Depreciation, Depletion And Amortization $1.158M $1.039M $4.000M
YoY Change 28.67% 33.21% 33.33%
Cash From Operating Activities $7.860M $6.975M $17.69M
YoY Change 126.64% -33.89% -39.09%
INVESTING ACTIVITIES
Capital Expenditures $1.413M $1.125M $7.596M
YoY Change -54.14% -213.52% -4.03%
Acquisitions
YoY Change
Other Investing Activities $11.71M -$20.60M -$28.61M
YoY Change -254.36% -816.41% -748.16%
Cash From Investing Activities $2.800M -$21.73M -$36.21M
YoY Change -126.24% -1252.73% 934.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $107.0K 605.0K $1.045M
YoY Change -78.73% -54.88% -88.61%
NET CHANGE
Cash From Operating Activities $7.860M 6.975M $17.69M
Cash From Investing Activities $2.800M -21.73M -$36.21M
Cash From Financing Activities $107.0K 605.0K $1.045M
Net Change In Cash $10.77M -14.15M -$17.47M
YoY Change -260.75% -202.7% -150.34%
FREE CASH FLOW
Cash From Operating Activities $7.860M $6.975M $17.69M
Capital Expenditures $1.413M $1.125M $7.596M
Free Cash Flow $6.447M $5.850M $10.09M
YoY Change 1565.89% -49.32% -52.23%

Facts In Submission

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CY2022 us-gaap Nature Of Operations
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Organization<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </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%">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 three commercial-stage 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%">, 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%"> and 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%">.</span></div><div style="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 (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. Epicel (cultured epidermal autografts) 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”) to commercialize NexoBrid (anacaulase-bcdb) in North America. On December 28, 2022, the U.S. Food and Drug Administration (“FDA”) approved a Biologics License Application (“BLA”) for NexoBrid, granting a license for commercial use in the U.S. NexoBrid is a topically-administered biological product containing proteolytic enzymes and is indicated for the removal of eschar in adults with deep partial-thickness and/or full thickness 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 and specialty biologics 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 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><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, and at times, there has been significant volatility in the Company’s 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 the Company’s ability to access customers.</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 Company continues to manufacture MACI and Epicel and has begun efforts to commercialize NexoBrid in North America following the FDA’s approval of the submitted BLA on December 28, 2022. The Company maintains a significant safety stock of all key raw materials, and it does not expect that current global supply chain interruptions will impact the Company’s ongoing manufacturing operations of MACI and Epicel. 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 its 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. With the recent FDA approval of NexoBrid, MediWound has begun preparations to manufacture and supply sufficient quantities of NexoBrid to meet customer demand. To date, MediWound has not indicated that it expects pandemic-related disruptions to affect its ability to manufacture and supply NexoBrid.</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 Company believes that a resurgence of COVID-19 because of emerging variants or other factors could result in additional disruptions that could impact its business and operations in the future, including intermittent restrictions on the ability of its personnel to travel and access customers for selling, marketing, training, 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 its capacity to manufacture, sell and support the use of its products.</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-style:italic;font-weight:700;line-height:107%">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 consolidated financial statements.</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-style:italic;font-weight:700;line-height:107%">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 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 December 31, 2022, the Company had an accumulated deficit of $400.0 million and had a net loss of $16.7 million for the year ended December 31, 2022. The Company had cash and cash equivalents of $51.1 million and investments of $88.4 million as of December 31, 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</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to support the Company’s current operations through at least 12 months from the issuance of these consolidated financial statements. 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, however 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 various negative impacts on the global economy and financial markets, which are currently being experienced. The terms of any additional financing may adversely affect the holdings or the rights of the Company’s shareholders.</span></div>
CY2022Q4 vcel Number Of Products
NumberOfProducts
3 product
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</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%"> </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 preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. The more significant estimates reflected in the Company’s consolidated financial statements include, but are not limited to, certain judgments regarding revenue recognition, inventory valuation, stock option valuation, deferred tax assets and liabilities and accrued expenses. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments reflected in these consolidated financial statements or a revision of the carrying value of its assets or liabilities as of the issuance of these consolidated financial statements. These estimates may change as new events occur and additional information is obtained. Actual results could materially differ from those estimates.</span></div>
CY2022Q4 vcel Number Of Contracted Specialty Pharmacies
NumberOfContractedSpecialtyPharmacies
2 pharmacy
CY2022Q4 us-gaap Allowance For Doubtful Other Receivables Current
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6100000 usd
CY2021Q4 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
7000000 usd
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0.0050
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400000 usd
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CY2021 us-gaap Revenues
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CY2020 us-gaap Revenues
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CY2022Q4 us-gaap Inventory Work In Process
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832000 usd
CY2021Q4 us-gaap Inventory Work In Process
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644000 usd
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53000 usd
CY2021Q4 us-gaap Inventory Finished Goods
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61000 usd
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CY2021Q4 us-gaap Inventory Net
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18302000 usd
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14322000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
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15837000 usd
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CY2022 us-gaap Depreciation Depletion And Amortization
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CY2021 us-gaap Depreciation Depletion And Amortization
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CY2021Q4 vcel Accrued Expenses Other Current
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151000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
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CY2021Q4 us-gaap Accrued Liabilities Current
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CY2021 us-gaap Short Term Lease Cost
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CY2022 us-gaap Short Term Lease Cost
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CY2021Q4 us-gaap Operating Lease Right Of Use Asset
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45720000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
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CY2021Q4 us-gaap Finance Lease Right Of Use Asset
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CY2022Q4 vcel Right Of Use Asset
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CY2021Q4 vcel Right Of Use Asset
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CY2022Q4 us-gaap Operating Lease Liability Current
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CY2021Q4 us-gaap Operating Lease Liability Current
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CY2021Q4 us-gaap Finance Lease Liability Current
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CY2022Q4 us-gaap Operating Lease Liability Noncurrent
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47147000 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
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CY2021Q4 us-gaap Finance Lease Liability Noncurrent
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CY2022Q4 vcel Lease Liability
LeaseLiability
47611000 usd
CY2021Q4 vcel Lease Liability
LeaseLiability
50182000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4302000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
41000 usd
CY2022Q4 vcel Lease Liability Payments Due Year One
LeaseLiabilityPaymentsDueYearOne
4343000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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6946000 usd
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CY2022Q4 vcel Lease Liability Payments Due Year Two
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6946000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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6348000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Three
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CY2022Q4 vcel Lease Liability Payments Due Year Three
LeaseLiabilityPaymentsDueYearThree
6348000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
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CY2022Q4 vcel Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
6530000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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6726000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 usd
CY2022Q4 vcel Lease Liability Payments Due Year Five
LeaseLiabilityPaymentsDueYearFive
6726000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
30251000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
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CY2022Q4 vcel Lease Liability To Be Paid After Year Five
LeaseLiabilityToBePaidAfterYearFive
30251000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
61103000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
41000 usd
CY2022Q4 vcel Lease Liability Payments Due
LeaseLiabilityPaymentsDue
61144000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
13533000 usd
CY2022Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
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0 usd
CY2022Q4 vcel Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
13533000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
47570000 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
41000 usd
CY2022Q4 vcel Lease Liability
LeaseLiability
47611000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P8Y10M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y9M18D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y6M
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P1Y6M
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.054
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.054
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0.050
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
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0.050
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
978000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
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CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
88433000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
88433000 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
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CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
6600000 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
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CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
60755000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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60755000 usd
CY2021 us-gaap Asset Impairment Charges
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CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3818536 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
113985000 usd
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33.37
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143224 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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31.42
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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56708000 usd
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CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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5400000 usd
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39500000 usd
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10500000 usd
CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Net Income Loss
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CY2020 us-gaap Net Income Loss
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2864000 usd
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47130000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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46472000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2061000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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47130000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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46472000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 us-gaap Earnings Per Share Basic
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-0.35
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
CY2022 us-gaap Earnings Per Share Diluted
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CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
CY2020 us-gaap Earnings Per Share Diluted
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0.06
CY2021Q3 vcel Sale Of Stock Agreement Expiration Period
SaleOfStockAgreementExpirationPeriod
P3Y
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
2767000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
97000 usd
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CY2021 vcel Income Loss From Continuing Operations Before Income Taxes Noncontrolling Interest State Taxes
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-7471000 usd
CY2020 vcel Income Loss From Continuing Operations Before Income Taxes Noncontrolling Interest State Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxesNoncontrollingInterestStateTaxes
2864000 usd
CY2022 vcel Income Loss From Continuing Operations Before Income Taxes Noncontrolling Interest State Taxes
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