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Side-by-side financial comparison of PAMT CORP (PAMT) and Vericel Corp (VCEL). Click either name above to swap in a different company.
PAMT CORP is the larger business by last-quarter revenue ($141.3M vs $92.9M, roughly 1.5× Vericel Corp). Vericel Corp runs the higher net margin — 25.0% vs -20.7%, a 45.7% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs -15.1%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $-25.0M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs -12.0%).
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.
PAMT vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.3M | $92.9M |
| Net Profit | $-29.3M | $23.2M |
| Gross Margin | — | 78.7% |
| Operating Margin | -27.0% | 24.1% |
| Net Margin | -20.7% | 25.0% |
| Revenue YoY | -15.1% | 23.3% |
| Net Profit YoY | 7.4% | 17.3% |
| EPS (diluted) | $-1.38 | $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 | $141.3M | $92.9M | ||
| Q3 25 | $150.3M | $67.5M | ||
| Q2 25 | $151.1M | $63.2M | ||
| Q1 25 | $155.3M | $52.6M | ||
| Q4 24 | $166.5M | $75.4M | ||
| Q3 24 | $182.6M | $57.9M | ||
| Q2 24 | $182.9M | $52.7M | ||
| Q1 24 | $182.6M | $51.3M |
| Q4 25 | $-29.3M | $23.2M | ||
| Q3 25 | $-5.6M | $5.1M | ||
| Q2 25 | $-9.6M | $-553.0K | ||
| Q1 25 | $-8.1M | $-11.2M | ||
| Q4 24 | $-31.6M | $19.8M | ||
| Q3 24 | $2.4M | $-901.0K | ||
| Q2 24 | $-2.9M | $-4.7M | ||
| Q1 24 | $281.0K | $-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 | -27.0% | 24.1% | ||
| Q3 25 | -3.8% | 5.1% | ||
| Q2 25 | -7.3% | -3.2% | ||
| Q1 25 | -5.9% | -24.3% | ||
| Q4 24 | -22.6% | 24.5% | ||
| Q3 24 | 1.3% | -4.3% | ||
| Q2 24 | -0.4% | -11.5% | ||
| Q1 24 | -0.4% | -10.7% |
| Q4 25 | -20.7% | 25.0% | ||
| Q3 25 | -3.7% | 7.5% | ||
| Q2 25 | -6.4% | -0.9% | ||
| Q1 25 | -5.2% | -21.4% | ||
| Q4 24 | -19.0% | 26.3% | ||
| Q3 24 | 1.3% | -1.6% | ||
| Q2 24 | -1.6% | -8.9% | ||
| Q1 24 | 0.2% | -7.5% |
| Q4 25 | $-1.38 | $0.46 | ||
| Q3 25 | $-0.27 | $0.10 | ||
| Q2 25 | $-0.46 | $-0.01 | ||
| Q1 25 | $-0.37 | $-0.23 | ||
| Q4 24 | $-1.44 | $0.40 | ||
| Q3 24 | $0.11 | $-0.02 | ||
| Q2 24 | $-0.13 | $-0.10 | ||
| Q1 24 | $0.01 | $-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 | $83.7M | $137.5M |
| Total DebtLower is stronger | $333.9M | — |
| Stockholders' EquityBook value | $210.5M | $354.6M |
| Total Assets | $697.9M | $488.0M |
| Debt / EquityLower = less leverage | 1.59× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $83.7M | $137.5M | ||
| Q3 25 | $115.6M | $135.4M | ||
| Q2 25 | $117.3M | $116.9M | ||
| Q1 25 | $102.7M | $112.9M | ||
| Q4 24 | $110.7M | $116.2M | ||
| Q3 24 | $92.3M | $101.7M | ||
| Q2 24 | $114.0M | $102.5M | ||
| Q1 24 | $125.8M | $110.6M |
| Q4 25 | $333.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $325.6M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $210.5M | $354.6M | ||
| Q3 25 | $239.5M | $321.9M | ||
| Q2 25 | $244.9M | $306.8M | ||
| Q1 25 | $269.6M | $295.5M | ||
| Q4 24 | $277.5M | $292.0M | ||
| Q3 24 | $308.9M | $257.5M | ||
| Q2 24 | $306.7M | $243.0M | ||
| Q1 24 | $314.6M | $233.9M |
| Q4 25 | $697.9M | $488.0M | ||
| Q3 25 | $715.2M | $453.3M | ||
| Q2 25 | $707.9M | $435.6M | ||
| Q1 25 | $712.6M | $424.6M | ||
| Q4 24 | $741.7M | $432.7M | ||
| Q3 24 | $756.7M | $390.4M | ||
| Q2 24 | $733.5M | $376.8M | ||
| Q1 24 | $746.4M | $356.7M |
| Q4 25 | 1.59× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.17× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-5.8M | $15.0M |
| Free Cash FlowOCF − Capex | $-25.0M | $12.8M |
| FCF MarginFCF / Revenue | -17.7% | 13.8% |
| Capex IntensityCapex / Revenue | 13.6% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $-23.4M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-5.8M | $15.0M | ||
| Q3 25 | $5.9M | $22.1M | ||
| Q2 25 | $12.2M | $8.2M | ||
| Q1 25 | $5.0M | $6.6M | ||
| Q4 24 | $15.2M | $22.2M | ||
| Q3 24 | $15.5M | $10.2M | ||
| Q2 24 | $18.7M | $18.5M | ||
| Q1 24 | $9.6M | $7.2M |
| Q4 25 | $-25.0M | $12.8M | ||
| Q3 25 | $2.5M | $19.5M | ||
| Q2 25 | $5.9M | $81.0K | ||
| Q1 25 | $-6.8M | $-7.6M | ||
| Q4 24 | $-39.9M | $8.5M | ||
| Q3 24 | $-33.6M | $-9.2M | ||
| Q2 24 | $4.1M | $1.8M | ||
| Q1 24 | $-12.2M | $-6.8M |
| Q4 25 | -17.7% | 13.8% | ||
| Q3 25 | 1.7% | 28.8% | ||
| Q2 25 | 3.9% | 0.1% | ||
| Q1 25 | -4.4% | -14.5% | ||
| Q4 24 | -24.0% | 11.2% | ||
| Q3 24 | -18.4% | -15.9% | ||
| Q2 24 | 2.2% | 3.4% | ||
| Q1 24 | -6.7% | -13.3% |
| Q4 25 | 13.6% | 2.4% | ||
| Q3 25 | 2.3% | 3.9% | ||
| Q2 25 | 4.2% | 12.9% | ||
| Q1 25 | 7.6% | 27.0% | ||
| Q4 24 | 33.1% | 18.3% | ||
| Q3 24 | 26.9% | 33.5% | ||
| Q2 24 | 8.0% | 31.8% | ||
| Q1 24 | 12.0% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | 6.44× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 34.11× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PAMT
| Freight Transportation Service | $123.1M | 87% |
| Fuel Surcharge | $18.2M | 13% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
