Vericel Corporation Financial Ratios — VCEL Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	-13.09	-9.07	2.33	-4.9	-9.18	-1.52	4	5.11
Return on Assets (%)	-96.97	-257.22	-128.09	-70.15	-39.91	-47.2	-33.51	-9.39	-7.11	1.6	-3.33	-6.47	-1.02	2.64	3.59
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.76	- -	- -	- -	3.11	4.07
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.37	- -	- -	- -	1.26	2.49
Gross Margin (%)	77.78	71.43	78.95	39.95	48.27	47.95	52.52	64.6	68.12	67.83	67.88	66.8	68.64	72.55	74.42
EBITDA Margin (%)	-157,738.89	-157,671.43	-107,763.16	-79.12	-29.47	-27.07	-20.92	-2.73	-8.07	3.83	-3.13	-7.96	-0.93	4.23	8.18
Operating Margin (%)	-161,333.33	-160,761.9	-110,336.84	-81.73	-32.58	-30.54	-23.44	-4.3	-9.55	1.91	-5.03	-10.38	-3.27	1.9	4
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	215.25	- -	- -	- -	27.66	16.72
Pretax Margin (%)	-109,266.67	-140,352.38	-82,221.05	-69.18	-31.93	-35.98	-27.04	-8.96	-8.2	2.45	-4.85	-9.73	-1.2	4.43	6.29
Profit Margin (%)	-109,266.67	-140,352.38	-82,221.05	-69.18	-31.93	-35.98	-27.04	-8.96	-8.2	2.31	-4.78	-10.17	-1.61	4.37	5.98
Net Income to Common Margin (%)	-109,266.67	-140,352.38	-82,221.05	-69.18	-31.93	-35.98	-27.04	-8.96	-8.2	2.31	-4.78	-10.17	-1.61	4.37	5.98
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	5.91	- -	- -	- -	1.41	4.94
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	-13.09	-9.07	2.33	-4.9	-9.18	-1.52	4	5.11

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	- -	- -	- -	- -	10	17	- -	28	53	50	48	88	99	96
ST Debt	- -	- -	- -	- -	- -	1	- -	- -	6	4	3	4	6	9	14
LT Debt	- -	- -	- -	- -	- -	9	17	- -	22	49	47	43	82	90	82
Total Debt/EBITDA	- -	- -	- -	- -	- -	-0.69	-1.29	- -	-2.93	11.21	-10.26	-3.64	-48.06	9.87	4.27
Net Debt/EBITDA	0.19	0.41	0.39	1.33	0.96	0.87	0.72	7.36	2.83	-7.07	13.98	3.91	37.71	-7.43	-4.43
Total Debt/EBIT	- -	- -	- -	- -	- -	-0.61	-1.15	- -	-2.48	22.47	-6.39	-2.79	-13.62	21.9	8.73
Net Debt/EBIT	0.19	0.4	0.38	1.28	0.87	0.77	0.64	4.68	2.39	-14.17	8.7	2.99	10.69	-16.49	-9.06
EBITDA to Interest Expense	-2,839.3	-2,759.25	-1,861.36	-3,797	-1,675.44	-46.88	-12.08	-1.43	-1,188.38	792.5	-1,222.25	-35.73	-3.05	16.32	35.85
EBITDA-CapEx/Interest Expense	-2,942.4	-2,782	-1,865	-3,935.17	-1,945.11	-51.39	-13.44	-2.98	-1,515.38	354.83	-3,201	-35.73	-15.55	16.32	35.85
EBIT to Interest Expense	-2,904	-2,813.33	-1,905.82	-3,922.33	-1,852.33	-52.89	-13.54	-2.26	-1,406.38	395.33	-1,963.5	-46.61	-10.77	7.36	17.53
Interest Expense	- -	- -	- -	- -	- -	- -	1	2	- -	- -	- -	- -	1	1	1
Common Equity/Total Assets	-167.61	-211.49	-374.34	-5.63	-47.39	-28.54	40.57	86.08	72.48	65.29	70.01	70.79	63.92	67.47	72.62
Long-Term Debt/Equity (%)	- -	0.06	- -	0.31	0.32	37.84	74.92	- -	20.12	36.4	27.68	22.5	36.23	30.69	23.2
Long-Term Debt/Capital (%)	-0.31	0.06	- -	0.3	0.28	26.99	42.88	- -	16.09	26.05	21.37	17.97	26.06	22.92	18.26
Long-Term Debt/Total Assets (%)	0.52	0.04	- -	0.23	0.21	19.24	30.94	- -	14.59	23.77	19.36	15.85	23.15	20.7	16.86
Total Debt/Equity (%)	-0.62	0.42	0.15	0.31	0.32	40.99	76.48	- -	25.07	39.7	29.44	24.74	38.97	33.9	27.17
Total Debt/Capital (%)	-0.62	0.42	0.15	0.3	0.28	29.23	43.77	- -	20.05	28.42	22.73	19.75	28.03	25.32	21.38
Total Debt/Total Assets (%)	1.03	0.26	0.07	0.23	0.21	20.84	31.58	- -	18.18	25.92	20.59	17.42	24.9	22.87	19.75
Net Debt to Equity	42.02	-142.94	-206.81	-84.83	-65.57	-52	-42.7	-17.89	-24.2	-25.04	-40.09	-26.56	-30.58	-25.52	-28.22
Net Debt/Capital (%)	29.59	332.88	193.63	-551.92	-134.73	-110.11	-76.88	-21.8	-24	-21.84	-44.82	-26.91	-28.2	-23.55	-28.55
EBITDA	-28	-33	-20	-23	-15	-15	-13	-2	-10	5	-5	-13	-2	10	23
EBITDA-CapEx	-29	-33	-21	-24	-18	-16	-15	-5	-12	2	-13	-13	-9	10	23
Operating Income (Loss)	-29	-34	-21	-24	-17	-17	-15	-4	-11	2	-8	-17	-6	5	11

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.27	2.41	1.51	2.57	1.2	1.79	2.05	5.61	3.52	3.37	3.97	3.19	2.39	2.31	2.8
Current Ratio	0.3	2.47	1.59	3.51	2.26	3.48	3.86	7.62	5.64	5.5	6.08	4.99	4.49	4.23	5.03
Quick Ratio	0.27	2.41	1.52	3.26	2.11	3.12	3.45	7.19	5.15	4.91	5.41	4.43	3.67	3.53	4.52
CFO/Avg Current Liab	-0.97	-2.24	-3.63	-2.96	-1.12	-1.59	-1.02	-0.03	-0.42	0.83	1.2	0.56	0.85	1.21	1.04
Common Equity/Total Assets	-167.61	-211.49	-374.34	-5.63	-47.39	-28.54	40.57	86.08	72.48	65.29	70.01	70.79	63.92	67.47	72.62
Long-Term Debt/Equity (%)	- -	0.06	- -	0.31	0.32	37.84	74.92	- -	20.12	36.4	27.68	22.5	36.23	30.69	23.2
Long-Term Debt/Capital (%)	-0.31	0.06	- -	0.3	0.28	26.99	42.88	- -	16.09	26.05	21.37	17.97	26.06	22.92	18.26
Long-Term Debt/Total Assets (%)	0.52	0.04	- -	0.23	0.21	19.24	30.94	- -	14.59	23.77	19.36	15.85	23.15	20.7	16.86
Total Debt/Equity (%)	-0.62	0.42	0.15	0.31	0.32	40.99	76.48	- -	25.07	39.7	29.44	24.74	38.97	33.9	27.17
Total Debt/Capital (%)	-0.62	0.42	0.15	0.3	0.28	29.23	43.77	- -	20.05	28.42	22.73	19.75	28.03	25.32	21.38
Total Debt/Total Assets (%)	1.03	0.26	0.07	0.23	0.21	20.84	31.58	- -	18.18	25.92	20.59	17.42	24.9	22.87	19.75
CFO/Total Liabilities	-118.26	-521.54	-374.8	-212.85	-109.58	-83.26	-41.15	-2.5	-17.04	24.63	39.65	21.91	27.65	41.32	38.93
CFO/CapEx	-23.76	-108.22	-498.58	-30.65	-5.5	-14.06	-8.73	-0.15	-2.75	6.69	3.67	- -	4.71	- -	- -
Altman's Z-Score	-56.34	-26.58	-49.72	-8.23	-10.97	-7.38	-4.76	22.82	8.73	10.42	13.95	8.2	7.4	11.19	8.21

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	4	1.14	1.06	7.02	5.36	3.88	3.62	4.36	4.24	3.73	4.34	3.91	3.77	3.96	3.78
Days Sales Outstanding	91.25	321.55	345.79	51.96	68.16	94	100.96	83.81	86.14	97.98	84.06	93.24	96.92	92.11	96.46
Inventory Turnover	- -	- -	- -	18.01	16.05	11.63	8.34	8.75	7.24	4.94	4.41	3.72	4.26	4.28	4.05
Days Inventory Outstanding	- -	- -	- -	20.26	22.75	31.38	43.78	41.72	50.39	73.88	82.73	98.2	85.66	85.37	90.22
Accounts Payable Turnover	- -	- -	- -	4.52	3.87	4.31	5.07	5.04	6.07	6.49	6.87	4.41	3.01	3	3.57
Accounts Payable Turnover Days	102,154.38	154,577.5	251,804.38	80.74	94.4	84.74	71.95	72.37	60.13	56.26	53.12	82.81	121.41	121.47	102.2
Cash Conversion Cycle	-102,063.12	-154,255.95	-251,458.59	-8.51	-3.5	40.64	72.79	53.15	76.39	115.6	113.67	108.63	61.17	56.01	84.48
Inventory to Cash Days	91.25	321.55	345.79	31.7	45.41	62.63	57.18	42.09	35.74	24.11	1.34	-4.96	11.26	6.74	6.23
Inventories	- -	- -	- -	2	1	3	4	4	7	9	13	16	13	17	18
Raw Materials	- -	- -	- -	1	1	3	4	3	6	9	13	15	11	13	13
Work In Process	- -	- -	- -	- -	- -	- -	- -	1	1	1	1	1	1	2	2
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	3	3
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	70	52	10	35	61	69	182	700	769	1,396	1,826	1,241	1,695	2,682	1,813
- Cash & Cash Equivalents	6	14	8	30	15	23	27	18	27	34	68	51	69	75	100
+ Preferred Equity and Hybrid Capital	- -	42	38	38	42	38	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	10	17	- -	28	53	50	48	88	99	96
Enterprise Value	65	80	40	44	88	95	172	617	727	1,374	1,773	1,169	1,673	2,665	1,772
Total Capital	-13	10	4	36	25	35	39	102	139	188	221	241	314	391	451
Total Debt/Capital (%)	-0.62	0.42	0.15	0.3	0.28	29.23	43.77	- -	20.05	28.42	22.73	19.75	28.03	25.32	21.38
Total Debt / EV	- -	- -	- -	- -	- -	0.11	0.1	- -	0.04	0.04	0.03	0.04	0.05	0.04	0.05
EV/Sales	3,602.13	3,806.05	2,109.35	1.51	1.73	1.74	2.69	6.79	6.17	11.06	11.35	7.11	8.47	11.23	6.41
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	288.94	- -	- -	- -	265.89	78.43
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	579.22	- -	- -	- -	589.73	160.41
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	467.64	- -	78.16	61.05	64.72	46.33	45.35	33.74
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	154.4	- -	68	47.98	64.72	38.36	45.35	33.74
Diluted Market Cap	70	52	10	35	61	69	182	700	769	1,460	1,826	1,241	1,695	2,838	1,878
Diluted Enterprise Value	65	80	40	44	88	95	172	682	770	1,480	1,808	1,238	1,714	2,862	1,874
EV per Share	33.58	38.8	13.29	3.74	3.72	4.11	5.16	15.34	16.45	30.38	38.15	24.81	35.16	54.56	35.19
TTM Sales	- -	- -	- -	29	51	54	64	91	118	124	156	164	198	237	276
TTM EBITDA	-28	-33	-20	-23	-15	-15	-13	-2	-10	5	-5	-13	-2	10	23
TTM Operating Income	-29	-34	-21	-24	-17	-17	-15	-4	-11	2	-8	-17	-6	5	11
TTM Cash Flow to Firm	-24	-30	-20	-25	-13	-20	-12	1	-7	18	29	18	36	59	53
TTM Free Cash Flow to Firm	-23	-29	-20	-25	-11	-18	-11	4	-5	20	37	18	44	59	53

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	-3	-1.77	-0.49	-1.44	-5.61	-3.75	-15.57	309.01	-168.32	72.29	49.42	70.19	39.59	48.79	36.18
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	579.22	- -	- -	- -	589.73	160.41
Enterprise Value	65	80	40	44	88	95	172	617	727	1,374	1,773	1,169	1,673	2,665	1,772
Low Price	35.2	22.2	3.14	2.55	1.69	1.76	2.25	5.32	13.4	6.78	30.03	17.3	23.38	32.31	29.24
EV/Sales	3,602.13	3,806.05	2,109.35	1.51	1.73	1.74	2.69	6.79	6.17	11.06	11.35	7.11	8.47	11.23	6.41
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	288.94	- -	- -	- -	265.89	78.43
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	487.58	- -	- -	- -	258.85	109.74
Price/Earnings Average	-4.94	-2.58	-2.3	-2.05	-4.48	-3.11	-6.77	-58.78	-79.79	272.38	-307.76	-82.19	-491.34	223.17	127.48
Price/Earnings High	-6.81	-3.8	-5.68	-4.09	-6.32	-7.9	-12.16	-93.32	-96.02	505.26	-428.83	-124.02	-596.67	289.87	192
Price/Earnings Low	-3.46	-1.55	-0.61	-1.49	-2.46	-2.07	-4.34	-26.34	-61.25	107.05	-186.78	-48.8	-349.75	152.31	89.11
Price/Book Value	-5.42	-1.62	-0.28	-13.22	-3.77	-4.99	8.21	6.85	6.92	10.4	10.7	6.42	7.5	9.19	5.12
Price/Book Value Average	-7.48	-2.37	-1.04	-15.27	-4.5	-4.39	5.28	4.68	6.94	5.81	13.48	7.11	6.92	7.92	5.94
Price/Book Value High	-10.33	-3.49	-2.57	-30.44	-6.35	-11.14	9.49	7.43	8.36	10.78	18.78	10.72	8.4	10.29	8.95
Price/Book Value Low	-5.24	-1.42	-0.27	-11.09	-2.47	-2.93	3.39	2.1	5.33	2.28	8.18	4.22	4.92	5.41	4.15
Price/Tangible Book Value	-5.42	-1.62	-0.28	-5.95	-2.75	-5.06	8.06	6.85	6.92	10.4	10.71	6.72	7.74	9.39	5.19
Price/Tangible Book Value Average	-7.48	-2.37	-1.04	-6.87	-3.28	-4.45	5.19	4.68	6.94	5.81	13.49	7.43	7.14	8.09	6.03
Price/Tangible Book Value High	-10.33	-3.49	-2.57	-13.71	-4.63	-11.29	9.32	7.43	8.35	10.78	18.79	11.22	8.67	10.51	9.09
Price/Tangible Book Value Low	-5.24	-1.42	-0.27	-4.99	-1.8	-2.97	3.33	2.1	5.33	2.28	8.19	4.41	5.08	5.52	4.22
Price/Sales	3,904.91	2,472	512.72	1.23	1.2	1.27	2.84	7.71	6.52	11.25	11.69	7.55	8.58	11.31	6.56
Price/Sales Average	5,393.26	3,627.88	1,890.37	1.42	1.43	1.12	1.83	5.26	6.54	6.28	14.72	8.36	7.92	9.75	7.62
Price/Sales High	7,445.08	5,336.38	4,666.86	2.83	2.02	2.84	3.29	8.36	7.87	11.65	20.51	12.61	9.61	12.66	11.48
Price/Sales Low	3,776.18	2,177.71	498.43	1.03	0.78	0.75	1.17	2.36	5.02	2.47	8.93	4.96	5.63	6.65	5.33
Price/Cash Flow	-2.87	-1.76	-0.49	-1.39	-4.59	-3.48	-13.79	-1,699.54	-107.02	79.47	62.89	70.19	47.99	46.12	34.92
Price/Cash Flow Average	-3.96	-2.58	-1.8	-1.61	-5.49	-3.06	-8.87	-1,160.81	-107.37	44.39	79.18	77.64	44.28	39.76	40.56
Price/Cash Flow High	-5.47	-3.79	-4.45	-3.21	-7.74	-7.77	-15.94	-1,843.12	-129.19	82.35	110.32	117.17	53.77	51.64	61.09
Price/Cash Flow Low	-2.78	-1.55	-0.47	-1.17	-3.01	-2.04	-5.69	-520.12	-82.42	17.45	48.05	46.1	31.52	27.14	28.36
Price/Free Cash Flow Average	-4.14	-2.6	-1.8	-1.66	-6.71	-3.3	-10.02	211.06	-168.87	40.38	62.22	77.64	36.52	42.06	42.02
Price/Free Cash Flow High	-5.71	-3.83	-4.46	-3.32	-9.46	-8.36	-18	335.11	-203.2	74.91	86.69	117.17	44.35	54.64	63.29
Price/Free Cash Flow Low	-2.9	-1.56	-0.48	-1.21	-3.68	-2.2	-6.43	94.57	-129.63	15.87	37.76	46.1	26	28.71	29.38
EV/Sales Average	5,090.48	4,961.92	3,487	1.7	1.96	1.59	1.68	5.06	6.55	6.44	14.61	8.33	8.01	9.85	7.61
EV/Sales High	7,142.3	6,670.43	6,263.49	3.11	2.55	3.31	3.14	8.16	7.88	11.81	20.4	12.59	9.71	12.76	11.47
EV/Sales Low	3,473.4	3,511.76	2,095.07	1.31	1.31	1.22	1.02	2.16	5.03	2.63	8.82	4.94	5.73	6.76	5.31
EV/EBITDA Average	-3.23	-3.15	-3.24	-2.15	-6.65	-5.87	-8.03	-185.25	-81.22	168.2	-466.58	-104.75	-863.75	233.15	93.05
EV/EBITDA High	-4.53	-4.23	-5.81	-3.94	-8.64	-12.23	-14.99	-298.46	-97.71	308.47	-651.59	-158.2	-1,046.7	302.12	140.24
EV/EBITDA Low	-2.2	-2.23	-1.94	-1.66	-4.46	-4.49	-4.89	-78.94	-62.37	68.62	-281.71	-62.08	-617.82	159.9	65
EV/EBIT Average	-3.16	-3.09	-3.16	-2.08	-6.01	-5.21	-7.16	-117.67	-68.63	337.17	-290.44	-80.3	-244.8	517.13	190.32
EV/EBIT High	-4.43	-4.15	-5.68	-3.81	-7.82	-10.84	-13.38	-189.58	-82.57	618.36	-405.61	-121.28	-296.65	670.08	286.83
EV/EBIT Low	-2.15	-2.18	-1.9	-1.61	-4.03	-3.98	-4.37	-50.14	-52.71	137.55	-175.36	-47.59	-175.1	354.66	132.94
Last Price	36.4	25.2	3.23	3.04	2.58	3	5.45	17.4	17.4	30.88	39.3	26.34	35.61	54.91	36.01
High Price	69.4	54.4	29.4	7	4.35	6.69	6.3	18.87	21	32	68.94	43.97	39.9	61.49	63
Enterprise Value Average	92	104	66	49	100	86	107	460	772	800	2,281	1,370	1,582	2,337	2,102
Enterprise Value High	129	140	119	90	130	180	201	741	929	1,467	3,186	2,069	1,918	3,028	3,168
Enterprise Value Low	63	74	40	38	67	66	65	196	593	326	1,377	812	1,132	1,603	1,468

Shares Outstanding	2	2	5	24	24	32	36	44	45	46	47	47	48	50	51
Diluted Weighted Avg Shares	2	2	3	12	24	23	33	40	44	47	46	47	48	52	52
Basic Weighted Avg Shares	2	2	3	12	24	23	33	40	44	45	46	47	48	49	50
Revenue per Share	0.01	0.01	0.01	2.47	2.15	2.35	1.92	2.26	2.67	2.75	3.36	3.49	4.15	4.86	5.49
EBITDA per Share	-14.7	-16.07	-6.79	-1.96	-0.63	-0.64	-0.4	-0.06	-0.22	0.11	-0.11	-0.28	-0.04	0.21	0.45
Operating Income per Share	-15.04	-16.39	-6.95	-2.02	-0.7	-0.72	-0.45	-0.1	-0.25	0.05	-0.17	-0.36	-0.14	0.09	0.22
Basic EPS, GAAP	-10.19	-14.31	-5.18	-1.71	-0.69	-0.85	-0.52	-0.2	-0.22	0.06	-0.16	-0.35	-0.07	0.21	0.33
Basic EPS from Cont Ops	-10.19	-14.31	-5.18	-1.71	-0.69	-0.85	-0.52	-0.2	-0.22	0.06	-0.16	-0.35	-0.07	0.21	0.33
Diluted EPS, GAAP	-10.19	-14.31	-5.18	-1.71	-0.69	-0.85	-0.52	-0.2	-0.22	0.06	-0.16	-0.35	-0.07	0.2	0.32
Diluted EPS from Cont Ops	-10.19	-14.31	-5.18	-1.71	-0.69	-0.85	-0.52	-0.2	-0.22	0.06	-0.16	-0.35	-0.07	0.2	0.32
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-12.68	-14.34	-6.61	-2.18	-0.56	-0.86	-0.4	-0.01	-0.16	0.39	0.62	0.38	0.74	1.19	1.03
Free Cash Flow per Basic Share	-13.22	-14.47	-6.63	-2.25	-0.66	-0.92	-0.44	-0.08	-0.22	0.33	0.45	0.38	0.58	1.19	1.03
Cash & Equivalents per Share	2.86	6.62	2.67	2.61	0.61	1	0.81	2.06	1.58	1.68	2.22	2.54	2.3	2.38	2.73
Book Value per Share	-6.72	-15.58	-11.44	-0.23	-0.68	-0.6	0.66	2.54	2.51	2.97	3.67	4.1	4.75	5.98	7.04
Tangible Book Value per Share	-6.72	-15.58	-11.44	-0.51	-0.94	-0.59	0.68	2.54	2.51	2.97	3.67	3.92	4.6	5.85	6.93

Vericel Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)