Vericel Corporation (NASDAQ:VCEL) Q4 2022 Earnings Conference Call February 23, 2023 8:30 AM ET
Company Participants
Eric Burns – Head-Financial Planning and Analysis and Investor Relations.
Nick Colangelo – President and Chief Executive Officer
Joe Mara – Chief Financial Officer
Conference Call Participants
Ryan Zimmerman – BTIG
Sam Brodovsky – Truist Securities
Jeffrey Cohen – Ladenburg
Sean Lee – HC Wainwright
Operator
Ladies and gentlemen, thank you for standing by. Welcome to the Vericel's Fourth Quarter 2022 Conference Call. At this time, all participants are in a listen-only mode. I would also like to remind you that this call is being recorded for replay. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instruction]
I will now turn the conference call over to Eric Burns, Vericel's Head of Financial Planning and Analysis and Investor Relations.
Eric Burns
Thank you, operator, and good morning everyone. Welcome to Vericel's fourth quarter 2022 conference call to discuss our financial results and business highlights. Before we begin, I'm going to 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 involve risks and uncertainties that could cause actual results to differ materially from expectations and are described more fully in our filings with the SEC, also 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 on 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 access on our website.
I’m joined on this call by Vericel's President and Chief Executive Officer, Nick Colangelo, and our Chief Financial Officer, Joe Mara.
I'll now turn the call over to Nick.
Nick Colangelo
Thank you, Eric, and good morning everyone. I'll begin today's call by discussing financial and business highlights for the fourth quarter and full year 2022, current trends for MACI, which have been very positive to start the year. Our NexoBrid commercial launch activities and our overall outlook for 2023, a year in which we expect total revenue growth to accelerate in continued strong profitability for the company.
Joe will then provide a more detailed update on our financial performance in 2022 and financial guidance for 2023 before opening the call to Q&A. The company delivered strong financial and business results to close the year as we generated record quarterly revenue, delivered our 10th straight quarter of profitability and positive operating cash flow and achieved significant development milestones including an accelerated regulatory pathway for the arthroscopic MACI program, an FDA approval of NexoBrid, which we believe will enable the company to build a second high growth commercial franchise.