Vericel Corp

The Company expects that cash from the sales of its products and existing cash, cash equivalents, investments, and available borrowing capacity will be sufficient to support the Company s current operations through at least 12 months from the issuance of these condensed consolidated financial statements.

SEC original ↗Vericel Corp — 10-Q Quarterly report10-QJul 30, 2026

Investments Marketable debt securities held by the Company are classified as available-for-sale pursuant to ASC 320, Investments Debt and Equity Securities , and carried at fair value in the accompanying condensed consolidated balance sheets on a settlement date basis.

SEC original ↗Vericel Corp — 10-Q Quarterly report10-QJul 30, 2026

The Company incurred and capitalized approximately $ 1.1 million of debt issuance costs related to the Revolving Credit Agreement.

SEC original ↗Vericel Corp — 10-Q Quarterly report10-QJul 30, 2026

Outstanding borrowings under the Revolving Credit Agreement bear interest, with pricing based from time to time at the Company s election at (i) the Secured Overnight Financing Rate ( SOFR ) plus 0.10 % plus a spread ranging from 1.25 % to 2.50 % as determined by the Company s Total Net Leverage Ratio (as defined in the Revolving Credit Agreement) or (ii) the alternative base rate (as defined in the Revolving Credit Agreement) plus a spread ranging from 0.25 % to 1.50 % as determined by the Company s Total Net Leverage Ratio.

SEC original ↗Vericel Corp — 10-Q Quarterly report10-QJul 30, 2026

The Company is permitted to voluntarily prepay borrowings under the Revolving Credit Agreement, in whole or in part, without premium or penalty.

SEC original ↗Vericel Corp — 10-Q Quarterly report10-QJul 30, 2026

As of June 30, 2026, there are no outstanding borrowings under the Revolving Credit Agreement.

SEC original ↗Vericel Corp — 10-Q Quarterly report10-QJul 30, 2026

With a record first quarter performance across both of our commercial franchises, we believe that the Company is well-positioned for another year of high revenue and profit growth, an inflection in cash generation, and continued progress on our long-term growth initiatives.

SEC original ↗Vericel Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

The increase in operating expenses was primarily due to increased headcount and related employee expenses, including the MACI sales force expansion, and additional costs related to the Company s new Burlington facility.

SEC original ↗Vericel Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

The Company is subject to risks common to companies in the life sciences industry including, but not limited to, development by the Company or its competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, commercialization of existing and new products, and compliance with FDA regulations and approval requirements, as well as the ability to grow the Company s business through appropriate commercial strategies.

SEC original ↗Vericel Corp — 10-Q Quarterly report10-QJul 30, 2026

In August 2024, the FDA authorized the expansion of the product s indication to include pediatric patients.

SEC original ↗Vericel Corp — 10-Q Quarterly report10-QJul 30, 2026

Obligations under the Revolving Credit Agreement are secured by first priority liens over substantially all of the assets of Vericel Corporation, excluding certain subsidiaries (subject to customary exclusions set forth in the Revolving Credit Agreement and the other transaction documents).

SEC original ↗Vericel Corp — 10-Q Quarterly report10-QJul 30, 2026

Although we believe that we have a reasonable basis for the forward-looking statements contained herein, they are based on current expectations about future events affecting us and are subject to risks, assumptions, uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control.

SEC original ↗Vericel Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Legal Proceedings 31 Item 1A.

SEC original ↗Vericel Corp — 10-Q Quarterly report10-QJul 30, 2026

The terms of any additional financing may adversely affect the holdings or the rights of the Company s shareholders.

SEC original ↗Vericel Corp — 10-Q Quarterly report10-QJul 30, 2026

Commitments and Contingencies From time to time, the Company could be a party to various legal proceedings arising in the ordinary course of business.

SEC original ↗Vericel Corp — 10-Q Quarterly report10-QJul 30, 2026

The costs and outcome of litigation, regulatory, investigatory or other proceedings cannot be predicted with certainty, and some lawsuits, claims, actions or proceedings may be disposed of unfavorably to the Company and could have a material adverse effect on the Company s results of operations or financial condition.

SEC original ↗Vericel Corp — 10-Q Quarterly report10-QJul 30, 2026

In addition, intellectual property disputes often have a risk of injunctive relief which, if imposed against the Company, could materially and adversely affect its financial condition or results of operations.

SEC original ↗Vericel Corp — 10-Q Quarterly report10-QJul 30, 2026