Total Maci Implants, Kits, & Instruments was Vericel’s largest revenue line in fiscal 2025, bringing in $239.51M of $279.97M (86%).
| Contract with Customer, Sales Channel | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Maci Implants, Kits, & Instruments | — | — | $197.31M | $239.51M | ||||||
| Maci Implants, Kits, & Instruments | $81.39M | $105.95M | $31.22M | $5.79M | ||||||
| Maci Implants & Kits | — | — | — | — | ||||||
| Implants | — | — | — | — | ||||||
| Epicel | $31.73M | $31.57M | — | $32.07M | ||||||
| Biopsy Kits & Instruments - Direct Bill | $2.09M | $2.09M | $2.10M | $2.61M | ||||||
| Biopsy Kits - Direct Bill | — | — | — | — | ||||||
| Biopsy Kits | — | — | — | — | ||||||
| Other Revenue | — | — | — | — | ||||||
| Total | $115.21M | $139.61M | $230.62M | $279.97M |
Vericel brought in $279.97M from its four revenue lines in fiscal 2025, the year ended December 31, 2025. Vericel regrouped these revenue lines after fiscal 2024, so the total does not compare directly with that year's $230.62M. Total Maci Implants, Kits, & Instruments was the largest at $239.51M (85.5%), ahead of Epicel at $32.07M (11.5%) and Maci Implants, Kits, & Instruments at $5.79M (2.1%). The remaining revenue line, Biopsy Kits & Instruments - Direct Bill, brought in $2.61M.
Compared with fiscal 2024, Total Maci Implants, Kits, & Instruments grew 21.4% to $239.51M, while Maci Implants, Kits, & Instruments fell 81.4% to $5.79M.
Vericel began breaking out Total Maci Implants, Kits, & Instruments in fiscal 2024, when it brought in $197.31M.
Through Intermediary was Vericel’s largest revenue line in fiscal 2023, bringing in $105.95M of $169.93M (62%).
| Contract With Customer Sales Channel | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 |
|---|---|---|---|---|---|---|---|---|
| Through Intermediary | $73.91M | $71.97M | $81.39M | $105.95M | ||||
| Sales Channel, Through Intermediary | — | — | — | — | ||||
| Directly To Consumer | $29.44M | $41.52M | $31.73M | $31.57M | ||||
| Sales Channel, Directly To Consumer | — | — | — | — | ||||
| Provider Or Facility | $15.14M | $18.71M | $24.26M | $27.48M | ||||
| Time-&-Materials Contract | $2.75M | $2.82M | $3.50M | $4.92M | ||||
| Total | $121.26M | $135.03M | $140.88M | $169.93M |
Vericel brought in $169.93M from its four revenue lines in fiscal 2023, the year ended December 31, 2023. That was up 20.6% from $140.88M in fiscal 2022. Through Intermediary was the largest at $105.95M (62.3%), ahead of Directly To Consumer at $31.57M (18.6%) and Provider Or Facility at $27.48M (16.2%). The remaining revenue line, Time-&-Materials Contract, brought in $4.92M.
Compared with fiscal 2022, Time-&-Materials Contract grew fastest, up 40.6% to $4.92M, while Directly To Consumer fell the most, down 0.5% to $31.57M. From fiscal 2020 to 2023, combined revenue from these revenue lines grew from $121.26M to $169.93M, a compound annual growth rate of 11.9%. Through Intermediary's share of the total rose from 61.0% to 62.3%.
Vericel (VCEL) reports its revenue by contract with customer, sales channel and by contract with customer sales channel. In fiscal 2025, Total Maci Implants, Kits, & Instruments was its largest revenue line, bringing in $239.51M (85.5% of the total), followed by Epicel at $32.07M (11.5%).
Total Maci Implants, Kits, & Instruments was Vericel's largest revenue line in fiscal 2025, bringing in $239.51M, or 85.5% of the $279.97M total across its four revenue lines.
Among Vericel's revenue lines that make up at least 2% of revenue, Time-&-Materials Contract grew fastest in fiscal 2023, up 40.6% from $3.50M to $4.92M.
Every figure comes from Vericel's annual financial filings, as reported. Each line keeps the name Vericel gives it, and years follow its fiscal calendar.
Vericel's revenue by contract with customer, sales channel goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.