vs
Side-by-side financial comparison of Vericel Corp (VCEL) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $51.6M, roughly 1.8× Velocity Financial, Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs 25.0%, a 42.3% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs 23.3%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $12.8M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 32.3%).
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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
VCEL vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $92.9M | $51.6M |
| Net Profit | $23.2M | $34.8M |
| Gross Margin | 78.7% | — |
| Operating Margin | 24.1% | 97.0% |
| Net Margin | 25.0% | 67.3% |
| Revenue YoY | 23.3% | 32.8% |
| Net Profit YoY | 17.3% | 67.0% |
| EPS (diluted) | $0.46 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $67.5M | $49.1M | ||
| Q2 25 | $63.2M | $47.6M | ||
| Q1 25 | $52.6M | $37.5M | ||
| Q4 24 | $75.4M | $38.9M | ||
| Q3 24 | $57.9M | $35.1M | ||
| Q2 24 | $52.7M | $32.4M | ||
| Q1 24 | $51.3M | $29.5M |
| Q4 25 | $23.2M | $34.8M | ||
| Q3 25 | $5.1M | $25.4M | ||
| Q2 25 | $-553.0K | $26.0M | ||
| Q1 25 | $-11.2M | $18.9M | ||
| Q4 24 | $19.8M | $20.8M | ||
| Q3 24 | $-901.0K | $15.8M | ||
| Q2 24 | $-4.7M | $14.8M | ||
| Q1 24 | $-3.9M | $17.3M |
| 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 | 24.1% | 97.0% | ||
| Q3 25 | 5.1% | 72.1% | ||
| Q2 25 | -3.2% | 71.3% | ||
| Q1 25 | -24.3% | 71.7% | ||
| Q4 24 | 24.5% | 82.5% | ||
| Q3 24 | -4.3% | 60.6% | ||
| Q2 24 | -11.5% | 61.3% | ||
| Q1 24 | -10.7% | 78.8% |
| Q4 25 | 25.0% | 67.3% | ||
| Q3 25 | 7.5% | 51.7% | ||
| Q2 25 | -0.9% | 54.6% | ||
| Q1 25 | -21.4% | 50.4% | ||
| Q4 24 | 26.3% | 53.5% | ||
| Q3 24 | -1.6% | 45.1% | ||
| Q2 24 | -8.9% | 45.6% | ||
| Q1 24 | -7.5% | 58.5% |
| Q4 25 | $0.46 | $0.90 | ||
| Q3 25 | $0.10 | $0.65 | ||
| Q2 25 | $-0.01 | $0.69 | ||
| Q1 25 | $-0.23 | $0.51 | ||
| Q4 24 | $0.40 | $0.56 | ||
| Q3 24 | $-0.02 | $0.44 | ||
| Q2 24 | $-0.10 | $0.42 | ||
| Q1 24 | $-0.08 | $0.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $137.5M | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $354.6M | $672.5M |
| Total Assets | $488.0M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $137.5M | $92.1M | ||
| Q3 25 | $135.4M | $99.0M | ||
| Q2 25 | $116.9M | $79.6M | ||
| Q1 25 | $112.9M | $51.7M | ||
| Q4 24 | $116.2M | $49.9M | ||
| Q3 24 | $101.7M | $44.1M | ||
| Q2 24 | $102.5M | $47.4M | ||
| Q1 24 | $110.6M | $34.8M |
| Q4 25 | $354.6M | $672.5M | ||
| Q3 25 | $321.9M | $634.3M | ||
| Q2 25 | $306.8M | $597.9M | ||
| Q1 25 | $295.5M | $563.2M | ||
| Q4 24 | $292.0M | $516.9M | ||
| Q3 24 | $257.5M | $484.6M | ||
| Q2 24 | $243.0M | $471.3M | ||
| Q1 24 | $233.9M | $452.9M |
| Q4 25 | $488.0M | $7.4B | ||
| Q3 25 | $453.3M | $7.0B | ||
| Q2 25 | $435.6M | $6.5B | ||
| Q1 25 | $424.6M | $6.0B | ||
| Q4 24 | $432.7M | $5.5B | ||
| Q3 24 | $390.4M | $5.2B | ||
| Q2 24 | $376.8M | $4.9B | ||
| Q1 24 | $356.7M | $4.6B |
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 | $15.0M | $18.2M |
| Free Cash FlowOCF − Capex | $12.8M | $17.9M |
| FCF MarginFCF / Revenue | 13.8% | 34.6% |
| Capex IntensityCapex / Revenue | 2.4% | 0.5% |
| Cash ConversionOCF / Net Profit | 0.65× | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $24.7M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.0M | $18.2M | ||
| Q3 25 | $22.1M | $11.5M | ||
| Q2 25 | $8.2M | $7.7M | ||
| Q1 25 | $6.6M | $3.5M | ||
| Q4 24 | $22.2M | $37.8M | ||
| Q3 24 | $10.2M | $-17.6M | ||
| Q2 24 | $18.5M | $11.5M | ||
| Q1 24 | $7.2M | $10.6M |
| Q4 25 | $12.8M | $17.9M | ||
| Q3 25 | $19.5M | $11.4M | ||
| Q2 25 | $81.0K | $7.6M | ||
| Q1 25 | $-7.6M | $3.5M | ||
| Q4 24 | $8.5M | $37.5M | ||
| Q3 24 | $-9.2M | $-17.6M | ||
| Q2 24 | $1.8M | $11.4M | ||
| Q1 24 | $-6.8M | $10.5M |
| Q4 25 | 13.8% | 34.6% | ||
| Q3 25 | 28.8% | 23.2% | ||
| Q2 25 | 0.1% | 15.9% | ||
| Q1 25 | -14.5% | 9.2% | ||
| Q4 24 | 11.2% | 96.4% | ||
| Q3 24 | -15.9% | -50.3% | ||
| Q2 24 | 3.4% | 35.1% | ||
| Q1 24 | -13.3% | 35.8% |
| Q4 25 | 2.4% | 0.5% | ||
| Q3 25 | 3.9% | 0.1% | ||
| Q2 25 | 12.9% | 0.2% | ||
| Q1 25 | 27.0% | 0.2% | ||
| Q4 24 | 18.3% | 0.7% | ||
| Q3 24 | 33.5% | 0.2% | ||
| Q2 24 | 31.8% | 0.3% | ||
| Q1 24 | 27.3% | 0.1% |
| Q4 25 | 0.65× | 0.52× | ||
| Q3 25 | 4.35× | 0.45× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | 1.12× | 1.81× | ||
| Q3 24 | — | -1.11× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
