Vericel Corp (VCEL) · Nov 5, 2026 · Earnings

Vericel earnings beat as MACI growth drives guidance raise

Beat — Revenue $85.4M vs ~$78.0M consensus; diluted EPS $0.27 vs ~$0.06

Vericel earnings beat published Q3 expectations, with MACI growth lifting revenue, margins and the company’s full-year guidance.

Vericel is a commercial-stage regenerative-medicine company whose growth story is centered on expanding MACI in knee cartilage repair, while building a second burn-care franchise around Epicel and NexoBrid. The company is also scaling manufacturing capacity and preparing for a potential U.K. MACI launch in 2027.

The quarter was materially ahead of the published bar. Revenue reached $85.4 million versus roughly $78.0 million expected, while diluted GAAP EPS was $0.27 versus a published consensus near $0.06. That is a meaningful operating beat, not just a favorable comparison with last year. The filing reports that total net revenue increased 26% to $85.4 million, while MACI revenue rose to $67.4 million from $55.7 million.

Metric	Q3 2026	Q3 2025	Consensus
Total revenue (Financial Statements)	$85.4M (+26%)	$67.5M	~$78.0M
Diluted EPS (Income Statement)	$0.27	$0.10	~$0.06
Adjusted EBITDA (Non-GAAP reconciliation)	$25.2M (+48%)	$17.0M
Adjusted EBITDA margin (Non-GAAP reconciliation)	30%	25%

MACI remains the main engine, but the burn-care portfolio added breadth. MACI contributed most of the incremental revenue, rising about 21% year over year, while Epicel increased to $12.7 million and NexoBrid generated $5.3 million including $3.0 million of BARDA procurement revenue. That mix supports the existing thesis that Vericel is not relying solely on one product, although MACI is still doing most of the heavy lifting.

The important incremental signal is the guidance raise. Vericel had already raised its 2026 revenue outlook to $330 million-$340 million in July, so another increase was directionally expected to be harder to earn. The supplied filing confirms that full-year guidance was raised again, but it does not provide the revised range, so the size of the upgrade cannot be quantified from the filing text provided. Even so, the combination of a clear quarterly beat and a higher outlook says the stronger MACI demand is carrying into the fourth quarter rather than being isolated to one period.

Profit conversion improved alongside growth. Adjusted EBITDA margin expanded to 30% from 25% despite higher operating expenses from the expanded MACI sales force and marketing investment. The filing specifically attributes the expense increase to added headcount, the MACI sales-force expansion and higher marketing programs, while adjusted EBITDA rose to $25.2 million.

Bottom line: This was a genuine beat-and-raise quarter that strengthens Vericel’s existing MACI-led growth story. The guidance increase is clearly positive, but its precise magnitude remains unclear because the revised full-year range is not included in the supplied release text.

What to watch next

Q4 results and 2027 outlook

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

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Vericel earnings beat as MACI growth drives guidance raise

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