Vericel Corp
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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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Item 8. Consolidated Statements of Cash Flows
Table of Contents
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating activities: | |||
| Net income (loss) | $10,362 | $(3,182) | $(16,709) |
| Adjustments to reconcile net income (loss) to net cash flows from operating activities: | |||
| Depreciation and amortization expense | 5,504 | 4,632 | 3,981 |
| Stock-based compensation expense | 36,495 | 32,325 | 37,183 |
| Amortization of premiums and discounts on marketable securities | (657) | (824) | 107 |
| Amortization of debt issuance costs | 215 | 215 | 90 |
| Non-cash lease costs | 6,651 | 6,070 | 4,222 |
| Other | 43 | 39 | 22 |
| Changes in operating assets and liabilities: | |||
| Inventory | (4,286) | 2,899 | (2,605) |
| Accounts receivable | (3,019) | (11,817) | (9,102) |
| Other current assets | (434) | (1,733) | (557) |
| Accounts payable | (287) | 3,049 | 1,437 |
| Accrued expenses | (149) | 1,025 | 2,145 |
| Operating lease liabilities | 7,520 | 2,513 | (2,527) |
| Other non-current assets and liabilities, net | 205 | 100 | — |
| Net cash provided by operating activities | 58,163 | 35,311 | 17,687 |
| Investing activities: | |||
| Purchases of investments | (68,211) | (55,225) | (69,554) |
| Sales and maturities of investments | 53,151 | 79,608 | 40,944 |
| Expenditures for property and equipment | (63,974) | (20,013) | (7,596) |
| Purchases of intangible assets | — | (7,500) | — |
| Net cash used in investing activities | (79,034) | (3,130) | (36,206) |
| Financing activities: | |||
| Net proceeds from common stock issuance | 24,516 | 6,000 | 3,652 |
| Debt issuance costs | — | — | (1,076) |
| Payments on employee's behalf for taxes related to vesting of restricted stock unit awards | (5,462) | (2,341) | (1,492) |
| Other | — | (41) | (39) |
| Net cash provided by financing activities | 19,054 | 3,618 | 1,045 |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (1,817) | 35,799 | (17,474) |
| Cash, cash equivalents, and restricted cash at beginning of period | 86,866 | 51,067 | 68,541 |
| Cash, cash equivalents, and restricted cash at end of period | $85,049 | $86,866 | $51,067 |
Table of Contents
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Supplemental disclosure of cash flow information: | |||
| Non-cash information: | |||
| Right-of-use assets and operating lease liabilities recognized | $3,287 | $37,960 | $137 |
| Property and equipment obtained in exchange for financing lease liabilities | 686 | — | — |
| Additions to property and equipment and intangible assets included in accounts payable | 11,898 | 10,152 | 7,824 |
| Cash information: | |||
| Interest paid | $399 | $383 | $109 |
| Taxes paid | $628 | $1,166 | $— |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Reconciliation of amounts within the consolidated balance sheets: | |||
| Cash and cash equivalents | $74,520 | $69,088 | $51,067 |
| Restricted cash | 10,529 | 17,778 | — |
| Total cash, cash equivalents, and restricted cash at end of period | $85,049 | $86,866 | $51,067 |
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