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Side-by-side financial comparison of BrightSpire Capital, Inc. (BRSP) 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 $83.2M, roughly 1.1× BrightSpire Capital, Inc.). Vericel Corp runs the higher net margin — 25.0% vs -17.3%, a 42.3% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs -0.4%). BrightSpire Capital, Inc. produced more free cash flow last quarter ($55.1M vs $12.8M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs -6.8%).
Oakley Capital Investments, is a large British investment trust focused on investments in mid-market companies in the business services, consumer, education and technology sectors. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
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.
BRSP vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $83.2M | $92.9M |
| Net Profit | $-14.4M | $23.2M |
| Gross Margin | — | 78.7% |
| Operating Margin | — | 24.1% |
| Net Margin | -17.3% | 25.0% |
| Revenue YoY | -0.4% | 23.3% |
| Net Profit YoY | 27.3% | 17.3% |
| EPS (diluted) | $-0.11 | $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.
| Q4 25 | $83.2M | $92.9M | ||
| Q3 25 | $83.9M | $67.5M | ||
| Q2 25 | $85.9M | $63.2M | ||
| Q1 25 | $77.6M | $52.6M | ||
| Q4 24 | $83.5M | $75.4M | ||
| Q3 24 | $88.2M | $57.9M | ||
| Q2 24 | $91.4M | $52.7M | ||
| Q1 24 | $95.8M | $51.3M |
| Q4 25 | $-14.4M | $23.2M | ||
| Q3 25 | $984.0K | $5.1M | ||
| Q2 25 | $-23.1M | $-553.0K | ||
| Q1 25 | $5.3M | $-11.2M | ||
| Q4 24 | $-19.7M | $19.8M | ||
| Q3 24 | $12.7M | $-901.0K | ||
| Q2 24 | $-67.9M | $-4.7M | ||
| Q1 24 | $-57.1M | $-3.9M |
| 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 24 | — | 68.9% |
| Q4 25 | — | 24.1% | ||
| Q3 25 | -1.7% | 5.1% | ||
| Q2 25 | -54.5% | -3.2% | ||
| Q1 25 | 5.1% | -24.3% | ||
| Q4 24 | -24.9% | 24.5% | ||
| Q3 24 | 13.2% | -4.3% | ||
| Q2 24 | -74.9% | -11.5% | ||
| Q1 24 | -59.4% | -10.7% |
| Q4 25 | -17.3% | 25.0% | ||
| Q3 25 | 1.2% | 7.5% | ||
| Q2 25 | -26.9% | -0.9% | ||
| Q1 25 | 6.9% | -21.4% | ||
| Q4 24 | -23.7% | 26.3% | ||
| Q3 24 | 14.4% | -1.6% | ||
| Q2 24 | -74.2% | -8.9% | ||
| Q1 24 | -59.6% | -7.5% |
| Q4 25 | $-0.11 | $0.46 | ||
| Q3 25 | $0.00 | $0.10 | ||
| Q2 25 | $-0.19 | $-0.01 | ||
| Q1 25 | $0.04 | $-0.23 | ||
| Q4 24 | $-0.16 | $0.40 | ||
| Q3 24 | $0.09 | $-0.02 | ||
| Q2 24 | $-0.53 | $-0.10 | ||
| Q1 24 | $-0.45 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $66.8M | $137.5M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $938.4M | $354.6M |
| Total Assets | $3.6B | $488.0M |
| Debt / EquityLower = less leverage | 2.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.8M | $137.5M | ||
| Q3 25 | $113.4M | $135.4M | ||
| Q2 25 | $154.3M | $116.9M | ||
| Q1 25 | $200.9M | $112.9M | ||
| Q4 24 | $302.2M | $116.2M | ||
| Q3 24 | $263.8M | $101.7M | ||
| Q2 24 | $203.3M | $102.5M | ||
| Q1 24 | $221.5M | $110.6M |
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.5B | — | ||
| Q3 24 | $2.6B | — | ||
| Q2 24 | $2.5B | — | ||
| Q1 24 | $2.6B | — |
| Q4 25 | $938.4M | $354.6M | ||
| Q3 25 | $976.4M | $321.9M | ||
| Q2 25 | $994.4M | $306.8M | ||
| Q1 25 | $1.0B | $295.5M | ||
| Q4 24 | $1.0B | $292.0M | ||
| Q3 24 | $1.1B | $257.5M | ||
| Q2 24 | $1.1B | $243.0M | ||
| Q1 24 | $1.2B | $233.9M |
| Q4 25 | $3.6B | $488.0M | ||
| Q3 25 | $3.3B | $453.3M | ||
| Q2 25 | $3.4B | $435.6M | ||
| Q1 25 | $3.6B | $424.6M | ||
| Q4 24 | $3.7B | $432.7M | ||
| Q3 24 | $3.8B | $390.4M | ||
| Q2 24 | $3.8B | $376.8M | ||
| Q1 24 | $3.9B | $356.7M |
| Q4 25 | 2.63× | — | ||
| Q3 25 | 2.22× | — | ||
| Q2 25 | 2.27× | — | ||
| Q1 25 | 2.27× | — | ||
| Q4 24 | 2.38× | — | ||
| Q3 24 | 2.36× | — | ||
| Q2 24 | 2.28× | — | ||
| Q1 24 | 2.17× | — |
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 | $73.0M | $15.0M |
| Free Cash FlowOCF − Capex | $55.1M | $12.8M |
| FCF MarginFCF / Revenue | 66.2% | 13.8% |
| Capex IntensityCapex / Revenue | 21.6% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $102.0M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $73.0M | $15.0M | ||
| Q3 25 | $29.9M | $22.1M | ||
| Q2 25 | $17.4M | $8.2M | ||
| Q1 25 | $10.5M | $6.6M | ||
| Q4 24 | $103.4M | $22.2M | ||
| Q3 24 | $31.3M | $10.2M | ||
| Q2 24 | $22.9M | $18.5M | ||
| Q1 24 | $24.6M | $7.2M |
| Q4 25 | $55.1M | $12.8M | ||
| Q3 25 | $27.4M | $19.5M | ||
| Q2 25 | $11.6M | $81.0K | ||
| Q1 25 | $8.0M | $-7.6M | ||
| Q4 24 | $97.3M | $8.5M | ||
| Q3 24 | $28.3M | $-9.2M | ||
| Q2 24 | $22.7M | $1.8M | ||
| Q1 24 | $22.2M | $-6.8M |
| Q4 25 | 66.2% | 13.8% | ||
| Q3 25 | 32.7% | 28.8% | ||
| Q2 25 | 13.4% | 0.1% | ||
| Q1 25 | 10.3% | -14.5% | ||
| Q4 24 | 116.6% | 11.2% | ||
| Q3 24 | 32.1% | -15.9% | ||
| Q2 24 | 24.9% | 3.4% | ||
| Q1 24 | 23.2% | -13.3% |
| Q4 25 | 21.6% | 2.4% | ||
| Q3 25 | 2.9% | 3.9% | ||
| Q2 25 | 6.8% | 12.9% | ||
| Q1 25 | 3.2% | 27.0% | ||
| Q4 24 | 7.3% | 18.3% | ||
| Q3 24 | 3.4% | 33.5% | ||
| Q2 24 | 0.1% | 31.8% | ||
| Q1 24 | 2.5% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | 30.36× | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | 2.46× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BRSP
Segment breakdown not available.
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
