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Sep 30, 2022
AVITA Medical Q3 2022 Earnings Report
AVITA Medical's Q3 2022 financial results were reported, showing revenue growth and progress in clinical trials and regulatory submissions.
Key Takeaways
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.
Commercial revenue increased by 30% to $9.0 million, excluding BARDA revenue.
Total revenue, including BARDA revenue, also increased by 30% to $9.1 million.
Gross profit margin stood at 83%.
The company plans FDA submissions for soft tissue repair and vitiligo indications in December 2022.
AVITA Medical
AVITA Medical
Forward Guidance
Full year 2022 commercial revenue (excluding BARDA revenues) is expected to be $33.0-34.0 million, an increase from our prior guidance of $30 million, and an approximate 33% increase year-over-year. We continue to project BARDA revenues of approximately $0.3 million in calendar year 2022.