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Side-by-side financial comparison of Lulu's Fashion Lounge Holdings, Inc. (LVLU) 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 $66.1M, roughly 1.4× Lulu's Fashion Lounge Holdings, Inc.). Vericel Corp runs the higher net margin — 25.0% vs -48.2%, a 73.2% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs -11.8%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $-2.6M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs -14.7%).
Lulu's Fashion Lounge Holdings, Inc. is a direct-to-consumer women's fashion retailer offering affordable, trendy apparel, footwear, and accessories. It primarily serves Gen Z and millennial consumers across North America, operating mainly via its e-commerce platform, with limited pop-up physical locations to boost customer engagement.
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.
LVLU vs VCEL — Head-to-Head
Income Statement — Q4 FY2024 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.1M | $92.9M |
| Net Profit | $-31.9M | $23.2M |
| Gross Margin | 37.9% | 78.7% |
| Operating Margin | -52.8% | 24.1% |
| Net Margin | -48.2% | 25.0% |
| Revenue YoY | -11.8% | 23.3% |
| Net Profit YoY | -340.9% | 17.3% |
| EPS (diluted) | $-13.46 | $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 | — | $92.9M | ||
| Q3 25 | — | $67.5M | ||
| Q2 25 | — | $63.2M | ||
| Q1 25 | — | $52.6M | ||
| Q4 24 | $66.1M | $75.4M | ||
| Q3 24 | $80.5M | $57.9M | ||
| Q2 24 | $92.0M | $52.7M | ||
| Q1 24 | $77.3M | $51.3M |
| Q4 25 | — | $23.2M | ||
| Q3 25 | — | $5.1M | ||
| Q2 25 | — | $-553.0K | ||
| Q1 25 | — | $-11.2M | ||
| Q4 24 | $-31.9M | $19.8M | ||
| Q3 24 | $-6.9M | $-901.0K | ||
| Q2 24 | $-10.8M | $-4.7M | ||
| Q1 24 | $-5.7M | $-3.9M |
| Q4 25 | — | 78.7% | ||
| Q3 25 | — | 73.5% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 69.0% | ||
| Q4 24 | 37.9% | 77.6% | ||
| Q3 24 | 38.1% | 71.9% | ||
| Q2 24 | 45.5% | 69.5% | ||
| Q1 24 | 42.3% | 68.9% |
| Q4 25 | — | 24.1% | ||
| Q3 25 | — | 5.1% | ||
| Q2 25 | — | -3.2% | ||
| Q1 25 | — | -24.3% | ||
| Q4 24 | -52.8% | 24.5% | ||
| Q3 24 | -8.5% | -4.3% | ||
| Q2 24 | -4.9% | -11.5% | ||
| Q1 24 | -8.0% | -10.7% |
| Q4 25 | — | 25.0% | ||
| Q3 25 | — | 7.5% | ||
| Q2 25 | — | -0.9% | ||
| Q1 25 | — | -21.4% | ||
| Q4 24 | -48.2% | 26.3% | ||
| Q3 24 | -8.5% | -1.6% | ||
| Q2 24 | -11.7% | -8.9% | ||
| Q1 24 | -7.4% | -7.5% |
| Q4 25 | — | $0.46 | ||
| Q3 25 | — | $0.10 | ||
| Q2 25 | — | $-0.01 | ||
| Q1 25 | — | $-0.23 | ||
| Q4 24 | $-13.46 | $0.40 | ||
| Q3 24 | $-2.47 | $-0.02 | ||
| Q2 24 | $-3.92 | $-0.10 | ||
| Q1 24 | $-0.15 | $-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 | $4.5M | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $13.4M | $354.6M |
| Total Assets | $108.2M | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $137.5M | ||
| Q3 25 | — | $135.4M | ||
| Q2 25 | — | $116.9M | ||
| Q1 25 | — | $112.9M | ||
| Q4 24 | $4.5M | $116.2M | ||
| Q3 24 | $6.3M | $101.7M | ||
| Q2 24 | $1.8M | $102.5M | ||
| Q1 24 | $5.5M | $110.6M |
| Q4 25 | — | $354.6M | ||
| Q3 25 | — | $321.9M | ||
| Q2 25 | — | $306.8M | ||
| Q1 25 | — | $295.5M | ||
| Q4 24 | $13.4M | $292.0M | ||
| Q3 24 | $43.8M | $257.5M | ||
| Q2 24 | $48.7M | $243.0M | ||
| Q1 24 | $57.7M | $233.9M |
| Q4 25 | — | $488.0M | ||
| Q3 25 | — | $453.3M | ||
| Q2 25 | — | $435.6M | ||
| Q1 25 | — | $424.6M | ||
| Q4 24 | $108.2M | $432.7M | ||
| Q3 24 | $153.5M | $390.4M | ||
| Q2 24 | $145.3M | $376.8M | ||
| Q1 24 | $160.6M | $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 | $-2.5M | $15.0M |
| Free Cash FlowOCF − Capex | $-2.6M | $12.8M |
| FCF MarginFCF / Revenue | -3.9% | 13.8% |
| Capex IntensityCapex / Revenue | 0.0% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $1.3M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $15.0M | ||
| Q3 25 | — | $22.1M | ||
| Q2 25 | — | $8.2M | ||
| Q1 25 | — | $6.6M | ||
| Q4 24 | $-2.5M | $22.2M | ||
| Q3 24 | $-5.5M | $10.2M | ||
| Q2 24 | $3.7M | $18.5M | ||
| Q1 24 | $6.9M | $7.2M |
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $19.5M | ||
| Q2 25 | — | $81.0K | ||
| Q1 25 | — | $-7.6M | ||
| Q4 24 | $-2.6M | $8.5M | ||
| Q3 24 | $-5.9M | $-9.2M | ||
| Q2 24 | $3.4M | $1.8M | ||
| Q1 24 | $6.4M | $-6.8M |
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | -14.5% | ||
| Q4 24 | -3.9% | 11.2% | ||
| Q3 24 | -7.3% | -15.9% | ||
| Q2 24 | 3.7% | 3.4% | ||
| Q1 24 | 8.3% | -13.3% |
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 27.0% | ||
| Q4 24 | 0.0% | 18.3% | ||
| Q3 24 | 0.5% | 33.5% | ||
| Q2 24 | 0.4% | 31.8% | ||
| Q1 24 | 0.7% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LVLU
| Single Reportable Segment | $63.0M | 95% |
| Other | $2.4M | 4% |
| Stored Value Cards | $750.0K | 1% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
