Financial Statements — VCEL
Balance Sheet
(in millions USD)| Metric | Q2
2026 | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q2
2023 | Q1
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Cash & Equivalents | 125.36 | 109.30 | 100.40 | 80.53 | 73.49 | 53.68 | 50.29 | 62.94 | 60.47 | 43.02 | 61.83 | 65.22 | 56.05 | 55.66 | 54.55 | 51.76 | 58.15 |
| Short-term Investments | 37.10 | 36.05 | 34.98 | 36.35 | 39.41 | 48.05 | 52.22 | 47.71 | 44.87 | 54.81 | 57.44 | 45.72 | 44.64 | 44.89 | 43.74 | 39.21 | 25.40 |
| Accounts Receivable | 75.71 | 72.38 | 60.43 | 64.29 | 52.90 | 48.48 | 48.00 | 49.93 | 39.73 | 38.32 | 38.36 | 34.30 | 33.66 | 31.86 | 28.91 | 31.73 | 29.12 |
| Inventory | 18.38 | 18.35 | 18.16 | 16.83 | 17.11 | 15.76 | 14.89 | 13.56 | 12.62 | 13.88 | 15.37 | 16.73 | 15.93 | 14.39 | 13.06 | 12.96 | 10.32 |
| Total Current Assets | 264.73 | 244.06 | 221.97 | 204.58 | 197.64 | 190.52 | 197.39 | 189.72 | 186.21 | 182.87 | 177.55 | 166.38 | 155.09 | 151.88 | 144.95 | 138.52 | 127.21 |
| Property, Plant & Equipment | 105.60 | 107.11 | 109.38 | 109.85 | 108.29 | 88.41 | 73.09 | 56.39 | 30.22 | 23.41 | 18.20 | 15.92 | 15.92 | 14.45 | 11.82 | 10.59 | 9.08 |
| Intangible Assets | 5.31 | 5.47 | 5.78 | 5.94 | 6.09 | 6.41 | 6.56 | 6.72 | 7.03 | 7.19 | 7.34 | -- | -- | -- | -- | -- | -- |
| Total Non-current Assets* | 238.14 | 241.56 | 231.31 | 231.03 | 226.95 | 199.89 | 179.45 | 166.94 | 131.91 | 127.84 | 87.55 | 81.64 | 89.72 | 88.41 | 79.20 | 83.43 | 84.25 |
| Total Assets | 502.87 | 485.63 | 453.27 | 435.61 | 424.59 | 390.41 | 376.84 | 356.66 | 318.13 | 310.71 | 265.10 | 248.02 | 244.82 | 240.29 | 224.14 | 221.95 | 211.46 |
| Accounts Payable | 20.61 | 19.01 | 15.34 | 12.86 | 16.75 | 20.88 | 25.22 | 19.43 | 15.05 | 14.40 | 11.13 | 8.11 | 9.68 | 7.75 | 5.58 | 8.13 | 8.83 |
| Total Current Liabilities | 52.53 | 47.16 | 45.58 | 41.13 | 39.45 | 41.35 | 43.86 | 36.47 | 35.95 | 35.61 | 28.75 | 27.00 | 25.01 | 21.73 | 18.83 | 23.86 | 23.23 |
| Total Non-current Liabilities* | 80.29 | 82.24 | 85.83 | 87.67 | 89.65 | 91.59 | 90.00 | 86.30 | 77.80 | 76.17 | 42.37 | 43.18 | 44.99 | 46.07 | 48.54 | 46.99 | 48.03 |
| Total Liabilities | 132.82 | 129.40 | 131.42 | 128.80 | 129.10 | 132.93 | 133.86 | 122.77 | 113.75 | 111.78 | 71.12 | 70.18 | 70.00 | 67.80 | 67.36 | 70.85 | 71.26 |
| Retained Earnings | (380.39) | (382.60) | (399.54) | (404.61) | (404.06) | (412.62) | (411.72) | (407.04) | (416.17) | (412.51) | (407.49) | (405.92) | (399.34) | (390.38) | (387.82) | (382.89) | (379.10) |
| Total Stockholder Equity | 370.04 | 356.23 | 321.86 | 306.81 | 295.49 | 257.47 | 242.98 | 233.90 | 204.38 | 198.93 | 193.98 | 177.84 | 174.82 | 172.49 | 156.78 | 151.09 | 140.21 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q2
2026 | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 |
|---|
| Total Revenue | 77.46 | 68.43 | 92.92 | 67.50 | 63.24 | 52.60 | 75.38 | 57.91 | 52.66 | 51.28 | 65.00 | 45.58 | 45.92 | 41.02 | 52.69 | 38.33 | 36.83 | 35.85 | 47.05 | 33.72 |
| Cost of Revenue | 21.06 | 19.16 | 19.79 | 17.92 | 16.63 | 16.33 | 16.88 | 16.25 | 16.06 | 15.93 | 16.49 | 14.97 | 15.98 | 14.50 | 14.45 | 13.32 | 14.19 | 12.62 | 13.56 | 12.41 |
| Gross Profit | 56.40 | 49.27 | 73.13 | 49.59 | 46.61 | 36.27 | 58.50 | 41.65 | 36.60 | 35.35 | 48.51 | 30.61 | 29.94 | 26.52 | 38.25 | 25.23 | 22.85 | 23.45 | 34.03 | 22.10 |
| Research & Development | 7.49 | 8.10 | 7.25 | 6.32 | 6.73 | 7.26 | 4.92 | 6.09 | 7.36 | 6.42 | 4.90 | 5.68 | 5.25 | 5.21 | 5.25 | 5.05 | 4.79 | 4.86 | 3.92 | 4.28 |
| Selling, General & Admin | 48.48 | 22.68 | 19.56 | 18.62 | 19.61 | 19.00 | 14.03 | 38.03 | 35.27 | 34.40 | 30.88 | 29.99 | 30.65 | 29.49 | 26.92 | 26.98 | 27.14 | 25.87 | 25.97 | 22.78 |
| Total Operating Expenses | 55.97 | 57.33 | 50.71 | 46.14 | 48.64 | 49.07 | 40.02 | 44.12 | 42.63 | 40.82 | 35.78 | 35.67 | 35.90 | 34.70 | 32.16 | 32.02 | 31.94 | 30.73 | 29.89 | 27.06 |
| Operating Income | 0.43 | (8.06) | 22.42 | 3.45 | (2.03) | (12.79) | 18.48 | (2.46) | (6.03) | (5.46) | 12.73 | (5.06) | (5.96) | (8.18) | 6.09 | (6.79) | (9.08) | (7.27) | 4.14 | (4.96) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.15 | 0.16 | 0.15 | 0.15 | 0.14 | 0.22 | 0.11 | 0.02 | 0.02 | 0.00 | 0.00 |
| Pretax Income | -- | -- | -- | -- | -- | -- | 19.95 | (0.90) | -- | -- | 14.09 | (3.95) | -- | -- | 6.62 | (6.56) | (8.96) | (7.09) | 4.21 | (4.93) |
| Tax Provision | -- | -- | -- | -- | -- | -- | 0.15 | 0.00 | -- | -- | 1.10 | (0.29) | -- | -- | 0.70 | 0.02 | 0.00 | 0.00 | (0.33) | 0.00 |
| Net Income | 2.21 | (6.30) | 23.24 | 5.07 | (0.55) | (11.25) | 19.81 | (0.90) | (4.68) | (3.86) | 12.99 | (3.66) | (5.02) | (7.49) | 5.92 | (6.58) | (8.96) | (7.09) | 4.54 | (4.93) |
| Basic EPS | 0.04 | (0.12) | 0.47 | 0.10 | (0.01) | (0.23) | 0.41 | (0.02) | (0.10) | (0.08) | 0.28 | (0.08) | (0.11) | (0.16) | 0.13 | (0.14) | (0.19) | (0.15) | 0.10 | (0.11) |
| Diluted EPS | 0.04 | (0.12) | 0.46 | 0.10 | (0.01) | (0.23) | 0.40 | (0.02) | (0.10) | (0.08) | 0.28 | (0.08) | (0.11) | (0.16) | 0.13 | (0.14) | (0.19) | (0.15) | 0.10 | (0.11) |
Cash Flow Statement
(in millions USD)| Metric | Q2
2026 | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 |
|---|
| Operating Cash Flow | 16.19 | 16.38 | 15.01 | 22.08 | 8.21 | 6.60 | 22.24 | 10.18 | 18.54 | 7.20 | 10.09 | 7.17 | 10.20 | 7.86 | 6.98 | 4.10 | 3.14 | 3.47 | 10.55 | 3.63 |
| Capital Expenditures | 1.93 | 1.26 | 2.19 | 2.63 | 8.13 | 14.21 | 13.79 | 19.41 | 16.76 | 14.02 | 7.84 | 6.57 | 4.20 | 1.41 | 1.13 | 1.41 | 1.98 | 3.08 | 0.99 | 2.46 |
| Free Cash Flow* | 14.26 | 15.13 | 12.83 | 19.45 | 0.08 | (7.61) | 8.46 | (9.22) | 1.77 | (6.81) | 2.25 | 0.60 | 6.00 | 6.45 | 5.85 | 2.69 | 1.16 | 0.39 | 9.56 | 1.17 |
| Investing Cash Flow | (2.82) | (4.20) | (16.39) | (3.38) | (9.03) | (15.14) | (14.65) | (21.21) | (17.72) | (25.45) | (8.09) | 4.57 | (2.41) | 2.80 | (21.73) | (0.81) | (3.00) | (10.67) | 1.89 | (2.63) |
| Financing Cash Flow | 2.69 | (2.98) | 1.07 | 1.17 | 1.64 | 3.20 | 7.11 | 5.52 | 4.30 | 2.13 | 1.31 | 1.01 | 1.20 | 0.11 | 0.61 | (0.31) | 0.25 | 0.50 | 1.34 | 1.79 |
* Derived from reported values
