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Side-by-side financial comparison of TSS, Inc. (TSSI) 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 $60.9M, roughly 1.5× TSS, Inc.). Vericel Corp runs the higher net margin — 25.0% vs 20.0%, a 5.0% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 21.8%). TSS, Inc. produced more free cash flow last quarter ($15.8M vs $12.8M). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% CAGR vs 34.6%).
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.
TSSI vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $60.9M | $92.9M |
| Net Profit | $12.2M | $23.2M |
| Gross Margin | 17.6% | 78.7% |
| Operating Margin | 1.5% | 24.1% |
| Net Margin | 20.0% | 25.0% |
| Revenue YoY | 21.8% | 23.3% |
| Net Profit YoY | 535.7% | 17.3% |
| EPS (diluted) | $0.44 | $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 | $60.9M | $92.9M | ||
| Q3 25 | $41.9M | $67.5M | ||
| Q2 25 | $44.0M | $63.2M | ||
| Q1 25 | $99.0M | $52.6M | ||
| Q4 24 | $50.0M | $75.4M | ||
| Q3 24 | $70.1M | $57.9M | ||
| Q2 24 | $12.2M | $52.7M | ||
| Q1 24 | $15.9M | $51.3M |
| Q4 25 | $12.2M | $23.2M | ||
| Q3 25 | $-1.5M | $5.1M | ||
| Q2 25 | $1.5M | $-553.0K | ||
| Q1 25 | $3.0M | $-11.2M | ||
| Q4 24 | $1.9M | $19.8M | ||
| Q3 24 | $2.6M | $-901.0K | ||
| Q2 24 | $1.4M | $-4.7M | ||
| Q1 24 | $15.0K | $-3.9M |
| Q4 25 | 17.6% | 78.7% | ||
| Q3 25 | 11.1% | 73.5% | ||
| Q2 25 | 17.8% | 73.7% | ||
| Q1 25 | 9.3% | 69.0% | ||
| Q4 24 | 14.4% | 77.6% | ||
| Q3 24 | 11.3% | 71.9% | ||
| Q2 24 | 37.3% | 69.5% | ||
| Q1 24 | 17.1% | 68.9% |
| Q4 25 | 1.5% | 24.1% | ||
| Q3 25 | -2.2% | 5.1% | ||
| Q2 25 | 5.1% | -3.2% | ||
| Q1 25 | 4.2% | -24.3% | ||
| Q4 24 | 0.0% | 24.5% | ||
| Q3 24 | 5.4% | -4.3% | ||
| Q2 24 | 14.0% | -11.5% | ||
| Q1 24 | 1.6% | -10.7% |
| Q4 25 | 20.0% | 25.0% | ||
| Q3 25 | -3.6% | 7.5% | ||
| Q2 25 | 3.4% | -0.9% | ||
| Q1 25 | 3.0% | -21.4% | ||
| Q4 24 | 3.8% | 26.3% | ||
| Q3 24 | 3.8% | -1.6% | ||
| Q2 24 | 11.5% | -8.9% | ||
| Q1 24 | 0.1% | -7.5% |
| Q4 25 | $0.44 | $0.46 | ||
| Q3 25 | $-0.06 | $0.10 | ||
| Q2 25 | $0.06 | $-0.01 | ||
| Q1 25 | $0.12 | $-0.23 | ||
| Q4 24 | $0.08 | $0.40 | ||
| Q3 24 | $0.10 | $-0.02 | ||
| Q2 24 | $0.06 | $-0.10 | ||
| Q1 24 | $0.00 | $-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 | $85.5M | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $76.6M | $354.6M |
| Total Assets | $184.9M | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $85.5M | $137.5M | ||
| Q3 25 | $70.7M | $135.4M | ||
| Q2 25 | — | $116.9M | ||
| Q1 25 | — | $112.9M | ||
| Q4 24 | $23.2M | $116.2M | ||
| Q3 24 | $46.4M | $101.7M | ||
| Q2 24 | $8.3M | $102.5M | ||
| Q1 24 | $14.4M | $110.6M |
| Q4 25 | $76.6M | $354.6M | ||
| Q3 25 | $63.4M | $321.9M | ||
| Q2 25 | $9.5M | $306.8M | ||
| Q1 25 | $9.4M | $295.5M | ||
| Q4 24 | $7.1M | $292.0M | ||
| Q3 24 | $7.7M | $257.5M | ||
| Q2 24 | $5.2M | $243.0M | ||
| Q1 24 | $3.7M | $233.9M |
| Q4 25 | $184.9M | $488.0M | ||
| Q3 25 | $165.4M | $453.3M | ||
| Q2 25 | $139.5M | $435.6M | ||
| Q1 25 | $113.5M | $424.6M | ||
| Q4 24 | $96.6M | $432.7M | ||
| Q3 24 | $67.3M | $390.4M | ||
| Q2 24 | $28.9M | $376.8M | ||
| Q1 24 | $26.8M | $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 | $16.3M | $15.0M |
| Free Cash FlowOCF − Capex | $15.8M | $12.8M |
| FCF MarginFCF / Revenue | 25.9% | 13.8% |
| Capex IntensityCapex / Revenue | 0.9% | 2.4% |
| Cash ConversionOCF / Net Profit | 1.34× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $2.1M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.3M | $15.0M | ||
| Q3 25 | $-18.4M | $22.1M | ||
| Q2 25 | $16.3M | $8.2M | ||
| Q1 25 | $20.6M | $6.6M | ||
| Q4 24 | $-21.6M | $22.2M | ||
| Q3 24 | $38.6M | $10.2M | ||
| Q2 24 | $-4.3M | $18.5M | ||
| Q1 24 | $2.6M | $7.2M |
| Q4 25 | $15.8M | $12.8M | ||
| Q3 25 | $-24.9M | $19.5M | ||
| Q2 25 | $5.4M | $81.0K | ||
| Q1 25 | $5.8M | $-7.6M | ||
| Q4 24 | $-28.4M | $8.5M | ||
| Q3 24 | $38.6M | $-9.2M | ||
| Q2 24 | $-6.0M | $1.8M | ||
| Q1 24 | $2.6M | $-6.8M |
| Q4 25 | 25.9% | 13.8% | ||
| Q3 25 | -59.3% | 28.8% | ||
| Q2 25 | 12.3% | 0.1% | ||
| Q1 25 | 5.8% | -14.5% | ||
| Q4 24 | -56.7% | 11.2% | ||
| Q3 24 | 55.1% | -15.9% | ||
| Q2 24 | -49.4% | 3.4% | ||
| Q1 24 | 16.4% | -13.3% |
| Q4 25 | 0.9% | 2.4% | ||
| Q3 25 | 15.3% | 3.9% | ||
| Q2 25 | 24.8% | 12.9% | ||
| Q1 25 | 15.0% | 27.0% | ||
| Q4 24 | 13.4% | 18.3% | ||
| Q3 24 | 0.1% | 33.5% | ||
| Q2 24 | 13.8% | 31.8% | ||
| Q1 24 | 0.2% | 27.3% |
| Q4 25 | 1.34× | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | 11.02× | — | ||
| Q1 25 | 6.93× | — | ||
| Q4 24 | -11.32× | 1.12× | ||
| Q3 24 | 14.60× | — | ||
| Q2 24 | -3.09× | — | ||
| Q1 24 | 176.40× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
