MannKind Corporation (MNKD) Q3 2024 Earnings Conference Call November 7, 2024 8:30 AM ET

Company Participants

Eric Burns - Vice President of Finance & Investor Relations
Nick Colangelo - Chief Executive Officer
Joe Mara - Chief Financial Officer

Conference Call Participants

Ryan Zimmerman - BTIG
Richard Newitter - Truist Securities
Mike Kratky - Leerink Partners
Josh Jennings - TD Cowen
Caitlin Cronin - Canaccord
Jeffrey Cohen - Ladenburg Thalmann & Co.

Operator

Ladies and gentlemen, thank you for standing by. Welcome to Vericel's Third Quarter 2024 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.

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. Joining me on today's call are Vericel's President and Chief Executive Officer, Nick Colangelo; and our Chief Finance Officer, Joe Mara.

Before we begin, let me remind you that on today's call, we will be making forward-looking statements covering the Private Security Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results that are prematurely some expectations and are described more fully in our findings of the SEC.

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 and a short presentation with highlights from today's call are available in the Investor Relations section of our website.

I will now turn the call over to Nick.

Nick Colangelo

Thanks, Eric, and good morning, everyone. The company had another outstanding quarter as we generated total revenue growth of 27% and record third-quarter revenue of approximately $58 million, which exceeded our guidance for the quarter. This strong performance was highlighted by record third-quarter MACI revenue and the highest Epicel revenue in any quarter-to-date.

We also delivered another quarter of significant margin expansion and operating cash flow as the company's profit growth continues to outpace our high revenue growth.

Finally, the company achieved two very important regulatory milestones with the FDA approval of MACI Arthro and the next-of-kin pediatric indication, which positioned the company for sustained high revenue and profit growth in the years ahead. MACI had another solid quarter and was well-positioned for a strong close to the year as the momentum in underlying growth drivers continued through the third quarter.