Vericel Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	13.08	10.36	-3.18	-16.71	-7.47	2.86
Depreciation & Amortization	15.53	12.2	10.73	3.98	2.97	2.38
Other Amortization	0.22	0.22	0.22	0.09	-	-
Loss (Gain) From Sale of Investments	-0.36	-0.66	-0.82	0.11	0.95	0.32
Stock-Based Compensation	38.26	36.5	32.33	37.18	34.32	13.84
Other Operating Activities	-0.06	-0.01	0.01	4.24	4.43	4.54
Change in Accounts Receivable	-11.95	-3.02	-11.82	-9.1	-2.93	-2.34
Change in Inventory	-2.4	-4.29	2.9	-2.61	-4.03	-2.54
Change in Accounts Payable	3.61	-0.29	3.05	1.44	1.49	0.03
Change in Other Net Operating Assets	3.2	7.14	1.91	-0.94	-0.69	-1.53
Operating Cash Flow	59.14	58.16	35.31	17.69	29.04	17.57
Operating Cash Flow Growth	28.54%	64.72%	99.64%	-39.09%	65.26%	-
Capital Expenditures	-38.76	-63.97	-20.01	-7.6	-7.92	-2.63
Sale (Purchase) of Intangibles	-	-	-7.5	-	-	-
Investment in Securities	-3.44	-15.06	24.38	-28.61	4.41	-14.53
Investing Cash Flow	-42.2	-79.03	-3.13	-36.21	-3.5	-17.16
Issuance of Common Stock	19.94	24.52	6	3.65	11.18	6.63
Repurchase of Common Stock	-6.8	-5.46	-2.34	-1.49	-1.67	-0.16
Other Financing Activities	-0.03	-	-0.04	-1.12	-0.35	-0.03
Financing Cash Flow	13.11	19.05	3.62	1.05	9.17	6.44
Net Cash Flow	30.05	-1.82	35.8	-17.47	34.71	6.85
Free Cash Flow	20.38	-5.81	15.3	10.09	21.13	14.95
Free Cash Flow Growth	-	-	51.60%	-52.23%	41.34%	-
Free Cash Flow Margin	7.88%	-2.45%	7.75%	6.14%	13.53%	12.04%
Free Cash Flow Per Share	0.39	-0.11	0.32	0.21	0.46	0.32
Cash Interest Paid	0.4	0.4	0.38	0.11	0	0.01
Cash Income Tax Paid	0.63	0.63	1.17	-	0.38	0.15
Levered Free Cash Flow	17.89	-11.76	-10.96	20.56	22.16	13.02
Unlevered Free Cash Flow	18.07	-11.59	-10.8	20.7	22.17	13.02
Change in Working Capital	-7.53	-0.45	-3.96	-11.21	-6.15	-6.37

Source: S&P Global Market Intelligence. Standard template. Financial Sources.