Vericel (VCEL) Gross Margin (2011 - 2026)

Vericel (VCEL) posted Gross Margin of 72.82% for Q2 2026, up 1.13% sequentially from 72.0% in Q1 2026, and down 89.0% YoY from 661.97% in Q2 2025.

Analysis

Vericel (VCEL) Gross Margin (2011 - 2026) Analysis & Trends

Vericel has reported Gross Margin for 16 years, with the latest figure at 72.82% in Q2 2026.

Quarterly Gross Margin fell 89.0% year-over-year to 72.82% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 74.56% (up 109.0% YoY) and the FY2025 annual result came in at 74.42%, up 187.0% from the prior year.
Gross Margin climbed to 72.82% in Q2 2026 per VCEL's latest filing, from 72.0% in the prior quarter.
Over five years, Gross Margin peaked at 78.7% in Q4 2025 and troughed at 61.69% in Q2 2022.
A 5-year average of 70.22% and a median of 70.72% in 2024 frame the typical range for Gross Margin.
The sharpest annual moves came in 2022 and 2024: Gross Margin sank 640 bps in 2022, then surged 478 bps in 2024.
Over 5 years, Gross Margin stood at 72.59% in 2022, then advanced by 3 bps to 74.63% in 2023, then advanced by 4 bps to 77.61% in 2024, then grew by 1 bps to 78.7% in 2025, then fell by 7 bps to 72.82% in 2026.
According to Business Quant data, Gross Margin over the past three periods registered 72.82%, 72.0%, and 78.7% for Q2 2026, Q1 2026, and Q4 2025 respectively.

Peer Set

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Gross Margin (Qtr)
1	Vertex Pharmaceuticals	138.47 Bn	130.62 Bn	2.84 Bn	85.33%
2	Regeneron Pharmaceuticals	85.18 Bn	77.19 Bn	3.93 Bn	91.59%
3	Argenx Se	63.38 Bn	58.19 Bn	1.37 Bn	90.43%
4	Moderna	58.09 Bn	52.95 Bn	52.00 Mn	35.86%
5	Revolution Medicines	44.33 Bn	44.33 Bn	-	-
6	BeOne Medicines	40.02 Bn	34.92 Bn	1.53 Bn	89.76%
7	Alnylam Pharmaceuticals	35.57 Bn	32.27 Bn	992.69 Mn	76.90%
8	Royalty Pharma	28.45 Bn	27.61 Bn	-	-
9	Insmed	27.48 Bn	26.32 Bn	358.27 Mn	84.20%
10	Vericel	2.05 Bn	1.89 Bn	56.40 Mn	72.82%

Historic Data

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