Vericel Corp Ord (VCEL)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	-2,368	-9,830	-12,440	-16,383	-15,979	-18,401	-16,776	-11,527	-7,582	609	9,158	4,603	3,044	145	-3	-11,526	-9,665	-13,924	-18,463	-3,322
Revenue (ttm)	US$ in thousands	197,516	185,214	178,184	169,308	164,365	159,262	155,217	157,690	156,184	153,822	151,574	132,069	124,179	118,340	116,581	122,718	117,850	109,795	101,780	94,640
Pretax margin		-1.20%	-5.31%	-6.98%	-9.68%	-9.72%	-11.55%	-10.81%	-7.31%	-4.85%	0.40%	6.04%	3.49%	2.45%	0.12%	-0.00%	-9.39%	-8.20%	-12.68%	-18.14%	-3.51%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-2,368K ÷ $197,516K
= -1.20%

Vericel Corp's pretax margin has shown fluctuations over the past eight quarters, ranging from -1.20% to -11.55%. The pretax margin improved from -9.73% in Q4 2022 to -1.20% in Q4 2023, indicating a positive trend in the company's profitability before tax expenses. However, the pretax margin was negative in all quarters, showing that Vericel Corp has been facing challenges in generating profits before accounting for tax liabilities. It is important for the company to continue monitoring and improving its pretax margin to ensure sustained profitability and financial stability.