Vericel Corporation (NASDAQ:VCEL) Q3 2023 Earnings Conference Call November 8, 2023 8:30 AM ET
Company Participants
Eric Burns - Vice President, Finance and Investor Relations
Nick Colangelo - President and Chief Executive Officer
Joe Mara - Chief Financial Officer
Conference Call Participants
Ryan Zimmerman - BTIG
Mike Kratky - Leerink Partners
Jeffrey Cohen - Ladenburg Thalmann
Samuel Brodovsky - Truist Securities
George Sellers - Stephens Inc
Arthur He - HCW
Operator
Ladies and gentlemen, thank you for standing by. Welcome to Vericel's Third 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.
Eric Burns
Thank you, operator and good morning everyone. Welcome to Vericel's third 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 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, 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 third quarter 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 third quarter as well as our expectations for the rest of the year. Joe will then provide a more detailed review of our third quarter financial performance and our updated 2023 financial guidance before opening the call to Q&A.
The company had another excellent quarter as we delivered strong revenue growth and record third quarter revenue, continued profitability and positive operating cash flow, and achieved significant milestones in the quarter, including securing commercial availability of NexoBrid in the United States, which significantly expands the total addressable market for our burn care franchise, and completing the human factors validation study for the MACI arthroscopic delivery program, which remains on track for commercial launch in the first half of 2024.