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Side-by-side financial comparison of INSEEGO CORP. (INSG) 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 $48.4M, roughly 1.9× INSEEGO CORP.). Vericel Corp runs the higher net margin — 25.0% vs 1.0%, a 24.0% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 0.6%). 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 13.6%).
Inseego Corp designs, manufactures and delivers advanced 5G and IoT solutions including mobile hotspots, edge computing devices, and cloud-based device management platforms. It primarily serves telecom operators, enterprise clients, and public sector customers across global markets.
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.
INSG vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $48.4M | $92.9M |
| Net Profit | $469.0K | $23.2M |
| Gross Margin | 42.2% | 78.7% |
| Operating Margin | 2.7% | 24.1% |
| Net Margin | 1.0% | 25.0% |
| Revenue YoY | 0.6% | 23.3% |
| Net Profit YoY | 182.9% | 17.3% |
| EPS (diluted) | $-0.02 | $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 | $48.4M | $92.9M | ||
| Q3 25 | $45.9M | $67.5M | ||
| Q2 25 | $40.2M | $63.2M | ||
| Q1 25 | $31.7M | $52.6M | ||
| Q4 24 | $48.1M | $75.4M | ||
| Q3 24 | $54.0M | $57.9M | ||
| Q2 24 | $51.6M | $52.7M | ||
| Q1 24 | $37.5M | $51.3M |
| Q4 25 | $469.0K | $23.2M | ||
| Q3 25 | $1.4M | $5.1M | ||
| Q2 25 | $507.0K | $-553.0K | ||
| Q1 25 | $-1.6M | $-11.2M | ||
| Q4 24 | $-566.0K | $19.8M | ||
| Q3 24 | $9.0M | $-901.0K | ||
| Q2 24 | $624.0K | $-4.7M | ||
| Q1 24 | $-4.5M | $-3.9M |
| Q4 25 | 42.2% | 78.7% | ||
| Q3 25 | 41.6% | 73.5% | ||
| Q2 25 | 41.1% | 73.7% | ||
| Q1 25 | 47.3% | 69.0% | ||
| Q4 24 | 37.3% | 77.6% | ||
| Q3 24 | 34.8% | 71.9% | ||
| Q2 24 | 36.4% | 69.5% | ||
| Q1 24 | 35.3% | 68.9% |
| Q4 25 | 2.7% | 24.1% | ||
| Q3 25 | 4.7% | 5.1% | ||
| Q2 25 | 3.2% | -3.2% | ||
| Q1 25 | -1.3% | -24.3% | ||
| Q4 24 | 3.7% | 24.5% | ||
| Q3 24 | 1.9% | -4.3% | ||
| Q2 24 | 3.6% | -11.5% | ||
| Q1 24 | -7.9% | -10.7% |
| Q4 25 | 1.0% | 25.0% | ||
| Q3 25 | 3.1% | 7.5% | ||
| Q2 25 | 1.3% | -0.9% | ||
| Q1 25 | -5.0% | -21.4% | ||
| Q4 24 | -1.2% | 26.3% | ||
| Q3 24 | 16.6% | -1.6% | ||
| Q2 24 | 1.2% | -8.9% | ||
| Q1 24 | -11.9% | -7.5% |
| Q4 25 | $-0.02 | $0.46 | ||
| Q3 25 | $0.03 | $0.10 | ||
| Q2 25 | $-0.03 | $-0.01 | ||
| Q1 25 | $-0.16 | $-0.23 | ||
| Q4 24 | $0.62 | $0.40 | ||
| Q3 24 | $-0.06 | $-0.02 | ||
| Q2 24 | $-0.02 | $-0.10 | ||
| Q1 24 | $-0.44 | $-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 | $24.9M | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-4.0M | $354.6M |
| Total Assets | $93.8M | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.9M | $137.5M | ||
| Q3 25 | $14.6M | $135.4M | ||
| Q2 25 | $13.2M | $116.9M | ||
| Q1 25 | $35.1M | $112.9M | ||
| Q4 24 | $39.6M | $116.2M | ||
| Q3 24 | $12.0M | $101.7M | ||
| Q2 24 | $49.0M | $102.5M | ||
| Q1 24 | $12.3M | $110.6M |
| Q4 25 | $-4.0M | $354.6M | ||
| Q3 25 | $-7.7M | $321.9M | ||
| Q2 25 | $-10.5M | $306.8M | ||
| Q1 25 | $-13.0M | $295.5M | ||
| Q4 24 | $-12.9M | $292.0M | ||
| Q3 24 | $-85.1M | $257.5M | ||
| Q2 24 | $-101.8M | $243.0M | ||
| Q1 24 | $-105.6M | $233.9M |
| Q4 25 | $93.8M | $488.0M | ||
| Q3 25 | $85.8M | $453.3M | ||
| Q2 25 | $83.1M | $435.6M | ||
| Q1 25 | $93.0M | $424.6M | ||
| Q4 24 | $100.0M | $432.7M | ||
| Q3 24 | $113.4M | $390.4M | ||
| Q2 24 | $149.6M | $376.8M | ||
| Q1 24 | $122.1M | $356.7M |
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 | $12.0M | $15.0M |
| Free Cash FlowOCF − Capex | $11.6M | $12.8M |
| FCF MarginFCF / Revenue | 24.0% | 13.8% |
| Capex IntensityCapex / Revenue | 0.7% | 2.4% |
| Cash ConversionOCF / Net Profit | 25.50× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $6.5M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.0M | $15.0M | ||
| Q3 25 | $3.2M | $22.1M | ||
| Q2 25 | $-4.5M | $8.2M | ||
| Q1 25 | $-3.5M | $6.6M | ||
| Q4 24 | $-14.2M | $22.2M | ||
| Q3 24 | $14.8M | $10.2M | ||
| Q2 24 | $27.6M | $18.5M | ||
| Q1 24 | $5.2M | $7.2M |
| Q4 25 | $11.6M | $12.8M | ||
| Q3 25 | $3.1M | $19.5M | ||
| Q2 25 | $-4.7M | $81.0K | ||
| Q1 25 | $-3.5M | $-7.6M | ||
| Q4 24 | $-14.3M | $8.5M | ||
| Q3 24 | $14.8M | $-9.2M | ||
| Q2 24 | $27.6M | $1.8M | ||
| Q1 24 | — | $-6.8M |
| Q4 25 | 24.0% | 13.8% | ||
| Q3 25 | 6.7% | 28.8% | ||
| Q2 25 | -11.6% | 0.1% | ||
| Q1 25 | -11.0% | -14.5% | ||
| Q4 24 | -29.7% | 11.2% | ||
| Q3 24 | 27.4% | -15.9% | ||
| Q2 24 | 53.5% | 3.4% | ||
| Q1 24 | — | -13.3% |
| Q4 25 | 0.7% | 2.4% | ||
| Q3 25 | 0.2% | 3.9% | ||
| Q2 25 | 0.5% | 12.9% | ||
| Q1 25 | 0.1% | 27.0% | ||
| Q4 24 | 0.1% | 18.3% | ||
| Q3 24 | 0.0% | 33.5% | ||
| Q2 24 | 0.0% | 31.8% | ||
| Q1 24 | 0.0% | 27.3% |
| Q4 25 | 25.50× | 0.65× | ||
| Q3 25 | 2.22× | 4.35× | ||
| Q2 25 | -8.81× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | 1.65× | — | ||
| Q2 24 | 44.31× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INSG
Segment breakdown not available.
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
