) has announced robust financial results for the second quarter of 2024, achieving a record revenue of nearly $53 million. This performance was driven by significant growth in their MACI product and solid demand for NexoBrid. The company has seen an expansion in gross margin and a substantial increase in adjusted EBITDA. With these results, Vericel not only reaffirmed its revenue guidance but also raised its profitability outlook for the year.
Vericel will actively promote NexoBrid to about 20 pediatric burn centers, in addition to 90 Tier 1 and Tier 2 centers.Vericel Corporation's second quarter results have clearly set a positive tone for the company's outlook in 2024. With the expected launch of new products and the expansion of their customer base, Vericel is well-positioned to maintain its trajectory of revenue and profit growth.
From the InvestingPro Tips, it's worth noting that analysts predict Vericel will be profitable this year, aligning with the company's own raised profitability outlook. Moreover, the stock has experienced significant volatility recently, with a notable drop over the last week, which may present an opportunity for investors looking to capitalize on the company's long-term growth prospects.
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