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Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
Vericel
Vericel (VCEL) investor relations material
Vericel 44th Annual J.P. Morgan Healthcare Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.44th Annual J.P. Morgan Healthcare Conference summary14 Jan, 2026
Key business highlights
Achieved strong revenue and profit growth, with MACI as the leading cartilage repair product and only FDA-approved in its class, and MACI Arthro launched in 2024.
Expanded MACI's FDA approval to include arthroscopic administration, enhancing its market position.
NexoBrid and Epicel address both eschar removal and permanent skin replacement for severe burns, with no direct competitors and strengthened U.S. launch.
All products have significant regulatory and market exclusivity, creating high barriers to entry.
Maintains a strong balance sheet with $200 million in cash and no debt as of 2025, supporting ongoing investment.
Financial performance and outlook
Sustained positive Adjusted EBITDA and operating cash flow for over five years, including through COVID.
Revenue doubled from 2020 to 2025, with expectations to double again by 2029, targeting $500 million.
Gross margins expected to reach high 70% range and Adjusted EBITDA margin to reach high 30% range by 2029.
Operating cash flow projected to exceed $100 million annually by 2029, trending toward $200 million.
2025 revenue expected at $276 million, at the high end of guidance, with MACI contributing close to $240 million.
Growth strategies and market expansion
MACI sales force expanded by 30% to 100 territories, with further 30% expansion planned for 2026.
MACI achieved a 24% CAGR since launch, with 20%+ growth in each of the last three years.
Initiated clinical studies for MACI in ankle cartilage defects (MASCOT) and MACI Arthro, targeting $1 billion+ new markets.
Plans to resume OUS expansion for MACI with new manufacturing facility.
Burn care business expected to grow with increased NexoBrid uptake, Epicel utilization, and cross-selling efforts.
What drives the projected 2029 EBITDA margin growth?
MACI Arthro: What is its market penetration strategy?
New facility: What is its role in OUS MACI expansion?
Partial view of Summaries dataset, powered by Quartr API
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Next Vericel earnings date
Q4 202527 Feb, 2026
Vericel
Next Vericel earnings date
Q4 202527 Feb, 2026
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Frequently asked questions
Vericel Corporation is a biopharmaceutical company focused on developing and manufacturing advanced cell therapies for patients with severe diseases and injuries. The company’s products include autologous cell therapies used in the treatment of cartilage defects, burns, and other medical conditions. The company is headquartered in Cambridge, Massachusetts, and its shares are listed on the NASDAQ.
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