AVITA Medical Earnings Reports

AVITA Medical achieved significant growth in the fourth quarter of 2024, with commercial revenue increasing by approximately 30% year-over-year, driven by the transition to RECELL GO and deeper market penetration. The company also secured key FDA approvals for Cohealyx and RECELL GO mini, positioning itself for long-term growth in therapeutic acute wound care.

AVITA Medical reported a 44% increase in commercial revenue to $19.5 million for Q3 2024, driven by the adoption of RECELL GO. The company also entered a distribution agreement for Cohealyx and amended its credit agreement with OrbiMed. They anticipate FDA approval of RECELL GO mini by the end of the year and expect to launch Cohealyx in January 2025.

AVITA Medical reported a 29% increase in commercial revenue, reaching $15.1 million for the second quarter of 2024. The company also achieved FDA approval for RECELL GO and submitted a PMA supplement for RECELL GO mini. A new agreement with Regenity Biosciences was entered into to commercialize a collagen-based dermal matrix.

AVITA Medical reported a 5.8% increase in commercial revenue to $11.1 million for the first quarter of 2024. The company launched PermeaDerm and is awaiting FDA review for RECELL GO. They are also expecting full year revenue to be at the lower end of their guidance.

AVITA Medical reported a 50% increase in commercial revenue to $14.1 million for the fourth quarter of 2023, with a gross profit margin of 87.3%. The company's net loss was $7.1 million, or a loss of $0.28 per share. Looking ahead, the company is focused on expanding its sales organization, launching new products, and expanding its facilities.

AVITA Medical reported a 51% increase in commercial revenue, reaching $13.5 million, compared to the same period in 2022. The company's gross margin for the quarter was 84.5%. They secured a debt financing facility for up to $90.0 million and had $60.1 million in cash on hand as of September 30, 2023.

AVITA Medical reported a strong second quarter with a 42% increase in commercial revenue to $11.7 million. The company received two FDA approvals and submitted a PMA supplement for RECELL GO™.

AVITA Medical reported a 40% increase in total revenue to $10.6 million for the first quarter of 2023, with a gross profit margin of 84%. The company is on track for FDA submissions and approvals, and commercial revenue is expected to be in the range of $10.7 to $11.7 million for the second quarter of 2023.

AVITA Medical reported a 30% increase in both commercial and total revenue for Q3 2022 compared to the previous year. The company also achieved positive topline results from pivotal clinical trials for soft tissue repair and vitiligo, and anticipates FDA submissions in December 2022.

AVITA Medical reported a 23% increase in commercial revenue, reaching $8.2 million, while total revenue was $8.3 million. The gross profit margin improved by 3% to 83%.

AVITA Medical reported a strong first quarter in 2022, with a 61% increase in commercial revenue to $7.4 million. The company also saw FDA and PMDA approvals for its RECELL system and had $95 million in cash and cash equivalents.

AVITA Medical reported a 35% increase in revenue for the fourth quarter of 2021, reaching $6.9 million compared to $5.1 million in the corresponding period of the prior year. The increase was driven by broader utilization among the customer base and deeper penetration within individual customer accounts. The company's net loss increased by 52% to $8.5 million due to higher operating expenses, partially offset by higher revenue.