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Side-by-side financial comparison of AMERISAFE INC (AMSF) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $80.1M, roughly 1.2× AMERISAFE INC). Vericel Corp runs the higher net margin — 25.0% vs 10.2%, a 14.8% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 10.3%). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 2.8%).
AMERISAFE Inc. is a specialty insurance provider that focuses exclusively on workers' compensation coverage for small and mid-sized businesses in high-hazard industries including construction, logging, trucking, and manufacturing. It operates across 49 U.S. states, offering tailored insurance policies paired with targeted risk management support for clients.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
AMSF vs VCEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $80.1M | $92.9M |
| Net Profit | $8.1M | $23.2M |
| Gross Margin | — | 78.7% |
| Operating Margin | — | 24.1% |
| Net Margin | 10.2% | 25.0% |
| Revenue YoY | 10.3% | 23.3% |
| Net Profit YoY | -9.0% | 17.3% |
| EPS (diluted) | $0.43 | $0.46 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $80.1M | — | ||
| Q4 25 | $81.6M | $92.9M | ||
| Q3 25 | $82.0M | $67.5M | ||
| Q2 25 | $81.1M | $63.2M | ||
| Q1 25 | $72.6M | $52.6M | ||
| Q4 24 | $74.0M | $75.4M | ||
| Q3 24 | $78.7M | $57.9M | ||
| Q2 24 | $75.8M | $52.7M |
| Q1 26 | $8.1M | — | ||
| Q4 25 | $10.4M | $23.2M | ||
| Q3 25 | $13.8M | $5.1M | ||
| Q2 25 | $14.0M | $-553.0K | ||
| Q1 25 | $8.9M | $-11.2M | ||
| Q4 24 | $13.2M | $19.8M | ||
| Q3 24 | $14.3M | $-901.0K | ||
| Q2 24 | $11.0M | $-4.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 78.7% | ||
| Q3 25 | — | 73.5% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 69.0% | ||
| Q4 24 | — | 77.6% | ||
| Q3 24 | — | 71.9% | ||
| Q2 24 | — | 69.5% |
| Q1 26 | — | — | ||
| Q4 25 | 15.6% | 24.1% | ||
| Q3 25 | 21.3% | 5.1% | ||
| Q2 25 | 21.5% | -3.2% | ||
| Q1 25 | 15.5% | -24.3% | ||
| Q4 24 | 22.7% | 24.5% | ||
| Q3 24 | 22.6% | -4.3% | ||
| Q2 24 | 18.1% | -11.5% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | 12.8% | 25.0% | ||
| Q3 25 | 16.9% | 7.5% | ||
| Q2 25 | 17.2% | -0.9% | ||
| Q1 25 | 12.3% | -21.4% | ||
| Q4 24 | 17.8% | 26.3% | ||
| Q3 24 | 18.2% | -1.6% | ||
| Q2 24 | 14.5% | -8.9% |
| Q1 26 | $0.43 | — | ||
| Q4 25 | $0.55 | $0.46 | ||
| Q3 25 | $0.72 | $0.10 | ||
| Q2 25 | $0.73 | $-0.01 | ||
| Q1 25 | $0.47 | $-0.23 | ||
| Q4 24 | $0.69 | $0.40 | ||
| Q3 24 | $0.75 | $-0.02 | ||
| Q2 24 | $0.57 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $34.2M | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $246.6M | $354.6M |
| Total Assets | — | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.2M | — | ||
| Q4 25 | $61.9M | $137.5M | ||
| Q3 25 | $54.7M | $135.4M | ||
| Q2 25 | $48.5M | $116.9M | ||
| Q1 25 | $44.8M | $112.9M | ||
| Q4 24 | $44.1M | $116.2M | ||
| Q3 24 | $63.7M | $101.7M | ||
| Q2 24 | $30.6M | $102.5M |
| Q1 26 | $246.6M | — | ||
| Q4 25 | $251.6M | $354.6M | ||
| Q3 25 | $274.8M | $321.9M | ||
| Q2 25 | $265.6M | $306.8M | ||
| Q1 25 | $260.8M | $295.5M | ||
| Q4 24 | $257.3M | $292.0M | ||
| Q3 24 | $314.4M | $257.5M | ||
| Q2 24 | $301.0M | $243.0M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $488.0M | ||
| Q3 25 | $1.2B | $453.3M | ||
| Q2 25 | $1.2B | $435.6M | ||
| Q1 25 | $1.2B | $424.6M | ||
| Q4 24 | $1.2B | $432.7M | ||
| Q3 24 | $1.3B | $390.4M | ||
| Q2 24 | $1.2B | $376.8M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $15.0M |
| Free Cash FlowOCF − Capex | — | $12.8M |
| FCF MarginFCF / Revenue | — | 13.8% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $11.1M | $15.0M | ||
| Q3 25 | $10.7M | $22.1M | ||
| Q2 25 | $-8.4M | $8.2M | ||
| Q1 25 | $-1.8M | $6.6M | ||
| Q4 24 | $24.2M | $22.2M | ||
| Q3 24 | $8.4M | $10.2M | ||
| Q2 24 | $-2.6M | $18.5M |
| Q1 26 | — | — | ||
| Q4 25 | $8.9M | $12.8M | ||
| Q3 25 | $9.8M | $19.5M | ||
| Q2 25 | $-9.5M | $81.0K | ||
| Q1 25 | $-1.8M | $-7.6M | ||
| Q4 24 | $23.4M | $8.5M | ||
| Q3 24 | $8.4M | $-9.2M | ||
| Q2 24 | $-2.6M | $1.8M |
| Q1 26 | — | — | ||
| Q4 25 | 10.9% | 13.8% | ||
| Q3 25 | 11.9% | 28.8% | ||
| Q2 25 | -11.7% | 0.1% | ||
| Q1 25 | -2.5% | -14.5% | ||
| Q4 24 | 31.5% | 11.2% | ||
| Q3 24 | 10.7% | -15.9% | ||
| Q2 24 | -3.5% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 2.4% | ||
| Q3 25 | 1.1% | 3.9% | ||
| Q2 25 | 1.3% | 12.9% | ||
| Q1 25 | 0.0% | 27.0% | ||
| Q4 24 | 1.1% | 18.3% | ||
| Q3 24 | 0.0% | 33.5% | ||
| Q2 24 | 0.1% | 31.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.06× | 0.65× | ||
| Q3 25 | 0.77× | 4.35× | ||
| Q2 25 | -0.61× | — | ||
| Q1 25 | -0.20× | — | ||
| Q4 24 | 1.83× | 1.12× | ||
| Q3 24 | 0.59× | — | ||
| Q2 24 | -0.24× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMSF
Segment breakdown not available.
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
