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Side-by-side financial comparison of Skillsoft Corp. (SKIL) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Skillsoft Corp. is the larger business by last-quarter revenue ($129.0M vs $92.9M, roughly 1.4× Vericel Corp). Vericel Corp runs the higher net margin — 25.0% vs -32.0%, a 57.0% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs -6.0%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $-19.3M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs -3.2%).
Skillsoft is an American educational technology company that produces learning management system software and content.
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.
SKIL vs VCEL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $129.0M | $92.9M |
| Net Profit | $-41.3M | $23.2M |
| Gross Margin | 72.7% | 78.7% |
| Operating Margin | -26.6% | 24.1% |
| Net Margin | -32.0% | 25.0% |
| Revenue YoY | -6.0% | 23.3% |
| Net Profit YoY | -74.9% | 17.3% |
| EPS (diluted) | — | $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 | $129.0M | $92.9M | ||
| Q3 25 | $128.8M | $67.5M | ||
| Q2 25 | $124.2M | $63.2M | ||
| Q1 25 | $133.8M | $52.6M | ||
| Q4 24 | $137.2M | $75.4M | ||
| Q3 24 | $132.2M | $57.9M | ||
| Q2 24 | $127.8M | $52.7M | ||
| Q1 24 | $137.5M | $51.3M |
| Q4 25 | $-41.3M | $23.2M | ||
| Q3 25 | $-23.8M | $5.1M | ||
| Q2 25 | $-38.0M | $-553.0K | ||
| Q1 25 | $-31.1M | $-11.2M | ||
| Q4 24 | $-23.6M | $19.8M | ||
| Q3 24 | $-39.6M | $-901.0K | ||
| Q2 24 | $-27.6M | $-4.7M | ||
| Q1 24 | $-245.3M | $-3.9M |
| Q4 25 | 72.7% | 78.7% | ||
| Q3 25 | 74.5% | 73.5% | ||
| Q2 25 | 74.0% | 73.7% | ||
| Q1 25 | 74.9% | 69.0% | ||
| Q4 24 | 75.0% | 77.6% | ||
| Q3 24 | 75.4% | 71.9% | ||
| Q2 24 | 73.0% | 69.5% | ||
| Q1 24 | 72.0% | 68.9% |
| Q4 25 | -26.6% | 24.1% | ||
| Q3 25 | -9.2% | 5.1% | ||
| Q2 25 | -14.6% | -3.2% | ||
| Q1 25 | -12.9% | -24.3% | ||
| Q4 24 | -6.7% | 24.5% | ||
| Q3 24 | -14.6% | -4.3% | ||
| Q2 24 | -18.6% | -11.5% | ||
| Q1 24 | -165.8% | -10.7% |
| Q4 25 | -32.0% | 25.0% | ||
| Q3 25 | -18.5% | 7.5% | ||
| Q2 25 | -30.6% | -0.9% | ||
| Q1 25 | -23.3% | -21.4% | ||
| Q4 24 | -17.2% | 26.3% | ||
| Q3 24 | -29.9% | -1.6% | ||
| Q2 24 | -21.6% | -8.9% | ||
| Q1 24 | -178.4% | -7.5% |
| Q4 25 | — | $0.46 | ||
| Q3 25 | — | $0.10 | ||
| Q2 25 | — | $-0.01 | ||
| Q1 25 | — | $-0.23 | ||
| Q4 24 | — | $0.40 | ||
| Q3 24 | — | $-0.02 | ||
| Q2 24 | — | $-0.10 | ||
| Q1 24 | — | $-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 | $74.6M | $137.5M |
| Total DebtLower is stronger | $570.2M | — |
| Stockholders' EquityBook value | $4.0M | $354.6M |
| Total Assets | $897.6M | $488.0M |
| Debt / EquityLower = less leverage | 142.97× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.6M | $137.5M | ||
| Q3 25 | $100.5M | $135.4M | ||
| Q2 25 | $127.8M | $116.9M | ||
| Q1 25 | $100.8M | $112.9M | ||
| Q4 24 | $97.9M | $116.2M | ||
| Q3 24 | $122.7M | $101.7M | ||
| Q2 24 | $142.0M | $102.5M | ||
| Q1 24 | $136.3M | $110.6M |
| Q4 25 | $570.2M | — | ||
| Q3 25 | $571.2M | — | ||
| Q2 25 | $572.2M | — | ||
| Q1 25 | $573.3M | — | ||
| Q4 24 | $574.3M | — | ||
| Q3 24 | $575.4M | — | ||
| Q2 24 | $576.4M | — | ||
| Q1 24 | $577.5M | — |
| Q4 25 | $4.0M | $354.6M | ||
| Q3 25 | $42.5M | $321.9M | ||
| Q2 25 | $62.6M | $306.8M | ||
| Q1 25 | $93.8M | $295.5M | ||
| Q4 24 | $120.5M | $292.0M | ||
| Q3 24 | $141.4M | $257.5M | ||
| Q2 24 | $182.1M | $243.0M | ||
| Q1 24 | $205.6M | $233.9M |
| Q4 25 | $897.6M | $488.0M | ||
| Q3 25 | $969.4M | $453.3M | ||
| Q2 25 | $1.0B | $435.6M | ||
| Q1 25 | $1.1B | $424.6M | ||
| Q4 24 | $1.1B | $432.7M | ||
| Q3 24 | $1.1B | $390.4M | ||
| Q2 24 | $1.2B | $376.8M | ||
| Q1 24 | $1.3B | $356.7M |
| Q4 25 | 142.97× | — | ||
| Q3 25 | 13.45× | — | ||
| Q2 25 | 9.13× | — | ||
| Q1 25 | 6.11× | — | ||
| Q4 24 | 4.77× | — | ||
| Q3 24 | 4.07× | — | ||
| Q2 24 | 3.16× | — | ||
| Q1 24 | 2.81× | — |
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 | $-18.9M | $15.0M |
| Free Cash FlowOCF − Capex | $-19.3M | $12.8M |
| FCF MarginFCF / Revenue | -15.0% | 13.8% |
| Capex IntensityCapex / Revenue | 0.4% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $10.0M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-18.9M | $15.0M | ||
| Q3 25 | $-17.8M | $22.1M | ||
| Q2 25 | $31.3M | $8.2M | ||
| Q1 25 | $17.8M | $6.6M | ||
| Q4 24 | $8.7M | $22.2M | ||
| Q3 24 | $-11.4M | $10.2M | ||
| Q2 24 | $14.9M | $18.5M | ||
| Q1 24 | $11.5M | $7.2M |
| Q4 25 | $-19.3M | $12.8M | ||
| Q3 25 | $-18.5M | $19.5M | ||
| Q2 25 | $30.8M | $81.0K | ||
| Q1 25 | $17.0M | $-7.6M | ||
| Q4 24 | $8.3M | $8.5M | ||
| Q3 24 | $-11.7M | $-9.2M | ||
| Q2 24 | $14.8M | $1.8M | ||
| Q1 24 | $11.1M | $-6.8M |
| Q4 25 | -15.0% | 13.8% | ||
| Q3 25 | -14.3% | 28.8% | ||
| Q2 25 | 24.8% | 0.1% | ||
| Q1 25 | 12.7% | -14.5% | ||
| Q4 24 | 6.0% | 11.2% | ||
| Q3 24 | -8.8% | -15.9% | ||
| Q2 24 | 11.6% | 3.4% | ||
| Q1 24 | 8.0% | -13.3% |
| Q4 25 | 0.4% | 2.4% | ||
| Q3 25 | 0.5% | 3.9% | ||
| Q2 25 | 0.4% | 12.9% | ||
| Q1 25 | 0.6% | 27.0% | ||
| Q4 24 | 0.3% | 18.3% | ||
| Q3 24 | 0.2% | 33.5% | ||
| Q2 24 | 0.1% | 31.8% | ||
| Q1 24 | 0.3% | 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
SKIL
| SAAS And Subscription Services | $93.5M | 73% |
| Virtual Ondemand And Classroom And Individualized Coaching | $28.2M | 22% |
| Professional Services | $7.3M | 6% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
