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Side-by-side financial comparison of Clarus Corp (CLAR) 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 $65.4M, roughly 1.4× Clarus Corp). Vericel Corp runs the higher net margin — 25.0% vs -47.8%, a 72.8% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs -8.4%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $11.6M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs -2.9%).
Clarus Corp is a global designer, manufacturer, and distributor of high-performance outdoor recreation, climbing, camping, and lifestyle products. It manages a portfolio of leading consumer brands, serving outdoor enthusiasts, professional athletes, and retail partners across North America, Europe, and the Asia-Pacific region, with a focus on innovative, durable gear for active lifestyles.
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.
CLAR vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $65.4M | $92.9M |
| Net Profit | $-31.3M | $23.2M |
| Gross Margin | 27.7% | 78.7% |
| Operating Margin | -59.6% | 24.1% |
| Net Margin | -47.8% | 25.0% |
| Revenue YoY | -8.4% | 23.3% |
| Net Profit YoY | 52.3% | 17.3% |
| EPS (diluted) | $-0.81 | $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 | $65.4M | $92.9M | ||
| Q3 25 | $69.3M | $67.5M | ||
| Q2 25 | $55.2M | $63.2M | ||
| Q1 25 | $60.4M | $52.6M | ||
| Q4 24 | $71.4M | $75.4M | ||
| Q3 24 | $67.1M | $57.9M | ||
| Q2 24 | $56.5M | $52.7M | ||
| Q1 24 | $69.3M | $51.3M |
| Q4 25 | $-31.3M | $23.2M | ||
| Q3 25 | $-1.6M | $5.1M | ||
| Q2 25 | $-8.4M | $-553.0K | ||
| Q1 25 | $-5.2M | $-11.2M | ||
| Q4 24 | $-65.5M | $19.8M | ||
| Q3 24 | $-3.2M | $-901.0K | ||
| Q2 24 | $-5.5M | $-4.7M | ||
| Q1 24 | $21.9M | $-3.9M |
| Q4 25 | 27.7% | 78.7% | ||
| Q3 25 | 35.1% | 73.5% | ||
| Q2 25 | 35.6% | 73.7% | ||
| Q1 25 | 34.4% | 69.0% | ||
| Q4 24 | 33.4% | 77.6% | ||
| Q3 24 | 35.0% | 71.9% | ||
| Q2 24 | 36.1% | 69.5% | ||
| Q1 24 | 35.9% | 68.9% |
| Q4 25 | -59.6% | 24.1% | ||
| Q3 25 | -4.4% | 5.1% | ||
| Q2 25 | -19.7% | -3.2% | ||
| Q1 25 | -11.2% | -24.3% | ||
| Q4 24 | -70.2% | 24.5% | ||
| Q3 24 | -8.0% | -4.3% | ||
| Q2 24 | -14.4% | -11.5% | ||
| Q1 24 | -9.8% | -10.7% |
| Q4 25 | -47.8% | 25.0% | ||
| Q3 25 | -2.3% | 7.5% | ||
| Q2 25 | -15.3% | -0.9% | ||
| Q1 25 | -8.7% | -21.4% | ||
| Q4 24 | -91.8% | 26.3% | ||
| Q3 24 | -4.7% | -1.6% | ||
| Q2 24 | -9.7% | -8.9% | ||
| Q1 24 | 31.6% | -7.5% |
| Q4 25 | $-0.81 | $0.46 | ||
| Q3 25 | $-0.04 | $0.10 | ||
| Q2 25 | $-0.22 | $-0.01 | ||
| Q1 25 | $-0.14 | $-0.23 | ||
| Q4 24 | $-1.72 | $0.40 | ||
| Q3 24 | $-0.08 | $-0.02 | ||
| Q2 24 | $-0.14 | $-0.10 | ||
| Q1 24 | $0.57 | $-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 | $36.7M | $137.5M |
| Total DebtLower is stronger | $0 | — |
| Stockholders' EquityBook value | $196.4M | $354.6M |
| Total Assets | $249.0M | $488.0M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.7M | $137.5M | ||
| Q3 25 | $29.5M | $135.4M | ||
| Q2 25 | $28.5M | $116.9M | ||
| Q1 25 | $41.3M | $112.9M | ||
| Q4 24 | $45.4M | $116.2M | ||
| Q3 24 | $36.4M | $101.7M | ||
| Q2 24 | $46.2M | $102.5M | ||
| Q1 24 | $47.5M | $110.6M |
| Q4 25 | $0 | — | ||
| Q3 25 | $2.0M | — | ||
| Q2 25 | $1.9M | — | ||
| Q1 25 | $1.9M | — | ||
| Q4 24 | $1.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $37.0K | — |
| Q4 25 | $196.4M | $354.6M | ||
| Q3 25 | $225.8M | $321.9M | ||
| Q2 25 | $225.1M | $306.8M | ||
| Q1 25 | $229.3M | $295.5M | ||
| Q4 24 | $233.1M | $292.0M | ||
| Q3 24 | $308.5M | $257.5M | ||
| Q2 24 | $307.3M | $243.0M | ||
| Q1 24 | $310.4M | $233.9M |
| Q4 25 | $249.0M | $488.0M | ||
| Q3 25 | $283.1M | $453.3M | ||
| Q2 25 | $286.5M | $435.6M | ||
| Q1 25 | $292.8M | $424.6M | ||
| Q4 24 | $294.1M | $432.7M | ||
| Q3 24 | $375.3M | $390.4M | ||
| Q2 24 | $369.4M | $376.8M | ||
| Q1 24 | $377.0M | $356.7M |
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.01× | — | ||
| Q2 25 | 0.01× | — | ||
| Q1 25 | 0.01× | — | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.00× | — |
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 | $12.5M | $15.0M |
| Free Cash FlowOCF − Capex | $11.6M | $12.8M |
| FCF MarginFCF / Revenue | 17.7% | 13.8% |
| Capex IntensityCapex / Revenue | 1.4% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $-9.9M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.5M | $15.0M | ||
| Q3 25 | $-5.7M | $22.1M | ||
| Q2 25 | $-9.4M | $8.2M | ||
| Q1 25 | $-2.1M | $6.6M | ||
| Q4 24 | $16.6M | $22.2M | ||
| Q3 24 | $-8.3M | $10.2M | ||
| Q2 24 | $834.0K | $18.5M | ||
| Q1 24 | $-16.4M | $7.2M |
| Q4 25 | $11.6M | $12.8M | ||
| Q3 25 | $-7.0M | $19.5M | ||
| Q2 25 | $-11.3M | $81.0K | ||
| Q1 25 | $-3.3M | $-7.6M | ||
| Q4 24 | $14.4M | $8.5M | ||
| Q3 24 | $-9.4M | $-9.2M | ||
| Q2 24 | $-744.0K | $1.8M | ||
| Q1 24 | $-18.3M | $-6.8M |
| Q4 25 | 17.7% | 13.8% | ||
| Q3 25 | -10.0% | 28.8% | ||
| Q2 25 | -20.4% | 0.1% | ||
| Q1 25 | -5.4% | -14.5% | ||
| Q4 24 | 20.1% | 11.2% | ||
| Q3 24 | -14.0% | -15.9% | ||
| Q2 24 | -1.3% | 3.4% | ||
| Q1 24 | -26.3% | -13.3% |
| Q4 25 | 1.4% | 2.4% | ||
| Q3 25 | 1.8% | 3.9% | ||
| Q2 25 | 3.4% | 12.9% | ||
| Q1 25 | 2.0% | 27.0% | ||
| Q4 24 | 3.1% | 18.3% | ||
| Q3 24 | 1.6% | 33.5% | ||
| Q2 24 | 2.8% | 31.8% | ||
| Q1 24 | 2.7% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.75× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLAR
| Other | $37.1M | 57% |
| Outdoor Segment | $25.3M | 39% |
| Adventure Segment | $3.0M | 5% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
