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Side-by-side financial comparison of BRAND HOUSE COLLECTIVE, INC. (TBHC) and Vericel Corp (VCEL). Click either name above to swap in a different company.
BRAND HOUSE COLLECTIVE, INC. is the larger business by last-quarter revenue ($103.5M vs $92.9M, roughly 1.1× Vericel Corp). Vericel Corp runs the higher net margin — 25.0% vs -3.6%, a 28.6% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs -9.6%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $-26.8M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs -21.0%).
Soho House is an international private members’ club with a focus on the media, arts and fashion industries.
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.
TBHC vs VCEL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $103.5M | $92.9M |
| Net Profit | $-3.7M | $23.2M |
| Gross Margin | 20.4% | 78.7% |
| Operating Margin | -1.9% | 24.1% |
| Net Margin | -3.6% | 25.0% |
| Revenue YoY | -9.6% | 23.3% |
| Net Profit YoY | 51.8% | 17.3% |
| EPS (diluted) | $-0.16 | $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 | $103.5M | $92.9M | ||
| Q3 25 | $75.8M | $67.5M | ||
| Q2 25 | $81.5M | $63.2M | ||
| Q1 25 | $148.9M | $52.6M | ||
| Q4 24 | $114.4M | $75.4M | ||
| Q3 24 | $86.3M | $57.9M | ||
| Q2 24 | $91.8M | $52.7M | ||
| Q1 24 | $165.9M | $51.3M |
| Q4 25 | $-3.7M | $23.2M | ||
| Q3 25 | $-20.2M | $5.1M | ||
| Q2 25 | $-11.8M | $-553.0K | ||
| Q1 25 | $7.9M | $-11.2M | ||
| Q4 24 | $-7.7M | $19.8M | ||
| Q3 24 | $-14.5M | $-901.0K | ||
| Q2 24 | $-8.8M | $-4.7M | ||
| Q1 24 | $10.1M | $-3.9M |
| Q4 25 | 20.4% | 78.7% | ||
| Q3 25 | 16.3% | 73.5% | ||
| Q2 25 | 24.9% | 73.7% | ||
| Q1 25 | 30.3% | 69.0% | ||
| Q4 24 | 28.1% | 77.6% | ||
| Q3 24 | 20.5% | 71.9% | ||
| Q2 24 | 29.5% | 69.5% | ||
| Q1 24 | 32.0% | 68.9% |
| Q4 25 | -1.9% | 24.1% | ||
| Q3 25 | -24.7% | 5.1% | ||
| Q2 25 | -12.9% | -3.2% | ||
| Q1 25 | 6.2% | -24.3% | ||
| Q4 24 | -2.1% | 24.5% | ||
| Q3 24 | -15.4% | -4.3% | ||
| Q2 24 | -8.2% | -11.5% | ||
| Q1 24 | 6.4% | -10.7% |
| Q4 25 | -3.6% | 25.0% | ||
| Q3 25 | -26.6% | 7.5% | ||
| Q2 25 | -14.5% | -0.9% | ||
| Q1 25 | 5.3% | -21.4% | ||
| Q4 24 | -6.7% | 26.3% | ||
| Q3 24 | -16.8% | -1.6% | ||
| Q2 24 | -9.6% | -8.9% | ||
| Q1 24 | 6.1% | -7.5% |
| Q4 25 | $-0.16 | $0.46 | ||
| Q3 25 | $-0.90 | $0.10 | ||
| Q2 25 | $-0.54 | $-0.01 | ||
| Q1 25 | $0.61 | $-0.23 | ||
| Q4 24 | $-0.59 | $0.40 | ||
| Q3 24 | $-1.11 | $-0.02 | ||
| Q2 24 | $-0.68 | $-0.10 | ||
| Q1 24 | $0.80 | $-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 | $6.5M | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-44.0M | $354.6M |
| Total Assets | $229.2M | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $6.5M | $137.5M | ||
| Q3 25 | $3.6M | $135.4M | ||
| Q2 25 | $3.5M | $116.9M | ||
| Q1 25 | $3.8M | $112.9M | ||
| Q4 24 | $6.8M | $116.2M | ||
| Q3 24 | $4.5M | $101.7M | ||
| Q2 24 | $3.8M | $102.5M | ||
| Q1 24 | $3.8M | $110.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $64.0M | — | ||
| Q4 24 | $85.8M | — | ||
| Q3 24 | $61.4M | — | ||
| Q2 24 | $47.5M | — | ||
| Q1 24 | $34.0M | — |
| Q4 25 | $-44.0M | $354.6M | ||
| Q3 25 | $-35.2M | $321.9M | ||
| Q2 25 | $-16.2M | $306.8M | ||
| Q1 25 | $-19.0M | $295.5M | ||
| Q4 24 | $-27.1M | $292.0M | ||
| Q3 24 | $-19.7M | $257.5M | ||
| Q2 24 | $-5.5M | $243.0M | ||
| Q1 24 | $3.1M | $233.9M |
| Q4 25 | $229.2M | $488.0M | ||
| Q3 25 | $221.9M | $453.3M | ||
| Q2 25 | $225.4M | $435.6M | ||
| Q1 25 | $242.2M | $424.6M | ||
| Q4 24 | $279.8M | $432.7M | ||
| Q3 24 | $266.2M | $390.4M | ||
| Q2 24 | $242.6M | $376.8M | ||
| Q1 24 | $250.6M | $356.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 10.88× | — |
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 | $-25.9M | $15.0M |
| Free Cash FlowOCF − Capex | $-26.8M | $12.8M |
| FCF MarginFCF / Revenue | -25.9% | 13.8% |
| Capex IntensityCapex / Revenue | 0.9% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $-18.9M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-25.9M | $15.0M | ||
| Q3 25 | $-7.0M | $22.1M | ||
| Q2 25 | $-3.1M | $8.2M | ||
| Q1 25 | $19.8M | $6.6M | ||
| Q4 24 | $-12.6M | $22.2M | ||
| Q3 24 | $-12.7M | $10.2M | ||
| Q2 24 | $-13.7M | $18.5M | ||
| Q1 24 | $28.2M | $7.2M |
| Q4 25 | $-26.8M | $12.8M | ||
| Q3 25 | $-7.4M | $19.5M | ||
| Q2 25 | $-3.6M | $81.0K | ||
| Q1 25 | $19.0M | $-7.6M | ||
| Q4 24 | $-13.1M | $8.5M | ||
| Q3 24 | $-13.2M | $-9.2M | ||
| Q2 24 | $-14.4M | $1.8M | ||
| Q1 24 | $26.7M | $-6.8M |
| Q4 25 | -25.9% | 13.8% | ||
| Q3 25 | -9.8% | 28.8% | ||
| Q2 25 | -4.5% | 0.1% | ||
| Q1 25 | 12.8% | -14.5% | ||
| Q4 24 | -11.5% | 11.2% | ||
| Q3 24 | -15.2% | -15.9% | ||
| Q2 24 | -15.7% | 3.4% | ||
| Q1 24 | 16.1% | -13.3% |
| Q4 25 | 0.9% | 2.4% | ||
| Q3 25 | 0.6% | 3.9% | ||
| Q2 25 | 0.7% | 12.9% | ||
| Q1 25 | 0.5% | 27.0% | ||
| Q4 24 | 0.4% | 18.3% | ||
| Q3 24 | 0.5% | 33.5% | ||
| Q2 24 | 0.8% | 31.8% | ||
| Q1 24 | 0.9% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.51× | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.79× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TBHC
Segment breakdown not available.
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
