Vericel Corp

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

VCEL$59.03+1.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 8. Consolidated Statements of Cash Flows

Table of Contents

	Year Ended December 31,
	2023	2022	2021
Operating activities:
Net loss	$(3,182)	$(16,709)	$(7,471)
Adjustments to reconcile net loss to net cash flows from operating activities:
Depreciation and amortization expense	4,632	3,981	2,965
Stock-based compensation expense	32,325	37,183	34,322
Amortization of premiums and discounts on marketable securities	(824)	107	949
Amortization of debt issuance costs	215	90	—
Non-cash lease costs	6,070	4,222	4,422
Other	39	22	7
Changes in operating assets and liabilities:
Inventory	2,899	(2,605)	(4,025)
Accounts receivable	(11,817)	(9,102)	(2,933)
Other current assets	(1,733)	(557)	(353)
Accounts payable	3,049	1,437	1,491
Accrued expenses	1,025	2,145	2,752
Operating lease liabilities	2,513	(2,527)	(3,086)
Other non-current assets and liabilities, net	100	—	—
Net cash provided by operating activities	35,311	17,687	29,040
Investing activities:
Purchases of investments	(55,225)	(69,554)	(60,021)
Sales and maturities of investments	79,608	40,944	64,435
Expenditures for property and equipment	(20,013)	(7,596)	(7,915)
Purchases of intangible assets	(7,500)	—	—
Net cash used in investing activities	(3,130)	(36,206)	(3,501)
Financing activities:
Net proceeds from common stock issuance	6,000	3,652	11,184
Debt issuance costs	—	(1,076)	—
Payments on employee's behalf for taxes related to vesting of restricted stock unit awards	(2,341)	(1,492)	(1,665)
Other	(41)	(39)	(348)
Net cash provided by financing activities	3,618	1,045	9,171
Net increase (decrease) in cash, cash equivalents, and restricted cash	35,799	(17,474)	34,710
Cash, cash equivalents, and restricted cash at beginning of period	51,067	68,541	33,831
Cash, cash equivalents, and restricted cash at end of period	$86,866	$51,067	$68,541

Table of Contents

	Year Ended December 31,
	2023	2022	2021
Supplemental disclosure of cash flow information:
Non-cash information:
Right-of-use asset and lease liability recognized	$37,960	$137	$192
Additions to property and equipment and intangible assets included in accounts payable	10,152	7,824	1,373
Restricted stock held for employee tax remittance included in accounts payable	—	—	46
Cash information:
Interest paid	$383	$109	$4
Taxes paid	$1,166	$—	$379

	Year Ended December 31,
	2023	2022	2021
Reconciliation of amounts within the consolidated balance sheets:
Cash and cash equivalents	$69,088	$51,067	$68,330
Restricted cash	17,778	—	211
Total cash, cash equivalents, and restricted cash at end of period	$86,866	$51,067	$68,541

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.