Vericel Corporation (NASDAQ:VCEL) Q2 2023 Earnings Conference Call August 2, 2023 8:30 AM ET
Company Participants
Eric Burns - VP, Finance and IR
Nick Colangelo - President and CEO
Joe Mara - CFO
Conference Call Participants
Ryan Zimmerman - BTIG
Sam Brodovsky - Truist Securities
Jeffrey Cohen - Ladenburg
Swayampakula Ramakanth - HCW
George Sellers - Stephens Incorporated
Operator
Ladies and gentlemen, thank you for standing by, welcome to Vericel's Second Quarter 2023 Conference Call. At this time, all participants are in a listen-only mode. I would also like remind you that this call is being recorded for replay.
I will now turn the conference call over to Eric Burns, Vericel's Vice President of Finance and Investor Relations. Please go ahead.
Eric Burns
Thank you, operator and good morning everyone. Welcome to Vericel's second quarter 2023 conference call to discuss our financial results and business highlights. Before we begin, let me remind you on today’s call, we will be making forward-looking statements covered under the Private Securities Litigation Reform Act of 1995. These statements may evolve risks and uncertainties that could cause actual - results to differ materially from expectations and are described more fully in our filings with the SEC, which are available on our website.
In addition, all forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. Please note that a copy of our financial results press release is available in the Investor Relations section of our website. We also have a short presentation with highlights from today’s call that can be viewed directly on the webcast or accessed on our website.
I am joined on this call by Vericel’s President and Chief Executive Officer, Nick Colangelo; and our Chief Financial Officer, Joe Mara.
I will now turn the call over to Nick.
Nick Colangelo
Thank you, Eric, and good morning everyone. I'll begin today's call by discussing our financial and business highlights for the second quarter as well as our expectations for the rest of the year. Joe will then provide a more detailed review of our second quarter financial performance and our updated financial guidance for 2023 before opening the call to Q&A.
The company had an outstanding quarter as we delivered significant revenue growth and record second quarter revenue continued profitability and operating cash flow and strong underlying business results for MACI and Epicel. From a financial perspective, total revenue for the second quarter increased 24% to approximately $46 million with both MACI and Epicel exceeding our second quarter financial guidance.