Vericel Corp Ord (VCEL)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	135,576	109,788	106,025	84,228	80,279
Revenue	US$ in thousands	197,516	164,365	156,184	124,179	117,850
Gross profit margin		68.64%	66.80%	67.88%	67.83%	68.12%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $135,576K ÷ $197,516K
= 68.64%

Vericel Corp's gross profit margin has shown relatively consistent performance over the past five years, ranging from 66.80% in 2019 to 68.64% in 2023. This suggests that the company has been able to maintain a high percentage of sales revenue after accounting for the cost of goods sold, indicating efficient management of production costs and strong pricing strategies. The slight fluctuations in the gross profit margin over the years may be attributed to changes in input costs, pricing dynamics, or sales mix. Overall, Vericel Corp's consistently high gross profit margin is a positive indicator of the company's operational efficiency and ability to generate profits from its core business activities.