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AVITA Medical (RCEL) investor relations material

AVITA Medical Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary6 Nov, 2025

Executive summary

  • Q3 2025 revenue was $17.1 million, down 13% year-over-year, mainly due to reimbursement headwinds, but partially offset by new product launches and expanded adoption.

  • Net loss improved to $13.2 million ($0.46 per share) from $16.2 million ($0.62 per share) in Q3 2024, reflecting disciplined cost management and lower operating expenses.

  • Operating expenses decreased 24% year-over-year to $23 million, driven by cost reduction initiatives.

  • Cash, cash equivalents, and marketable securities totaled $23.3 million at quarter-end, with improved cash efficiency and a net use of $6.2 million in Q3 versus $10.1 million in Q2.

  • Commercial strategy targets 200 key U.S. burn and trauma centers, representing a $1.3 billion addressable market, with current penetration at 5%.

Financial highlights

  • Gross margin for Q3 was 81.3%, down from 83.7% in Q3 2024, reflecting product mix and inventory adjustments.

  • Operating loss improved to $9.2 million from $13.8 million year-over-year.

  • Net loss per share for Q3 2025 was $0.46, compared to $0.62 in Q3 2024.

  • Cash and marketable securities as of September 30, 2025, were $23.3 million.

  • Private placement in August 2025 raised $13.8 million, strengthening the balance sheet.

Outlook and guidance

  • Full-year 2025 revenue guidance revised to $70–$74 million, down from $76–$81 million.

  • Company expects to provide 2026 revenue and financial guidance in early Q1 2026.

  • Focus remains on US market, with limited resource allocation to select European geographies.

  • Company aims for cash flow break-even as revenue grows in 2026.

  • Management expects gross margin for RECELL products to remain in the 83–85% range in future quarters.

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Frequently asked questions

AVITA Medical Inc is a regenerative medicine company that develops and markets therapeutic solutions for skin restoration. Its primary product is a spray-on skin system used for treating burns, wounds, and dermatological conditions. The company operates in North America and internationally through partnerships and direct sales. AVITA Medical Inc is headquartered in Valencia, California, and its shares are listed on the NASDAQ.

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