Quarterly ResultAug 6, 2026, 04:22 PM
AVITA Medical Q2 Revenue $21.7M, Raises 2026 Guidance
AI Summary
AVITA Medical reported strong financial results for the second quarter ended June 30, 2026, with net revenue reaching a record $21.7 million, an 18% increase year-over-year. The company also raised its full-year 2026 net revenue guidance to a range of $86 million to $89 million, reflecting confidence in continued commercial execution. Additionally, AVITA Medical anticipates achieving cash flow breakeven in the fourth quarter of 2026, driven by disciplined operating expenses and sustained high gross margins. The Centers for Medicare & Medicaid Services (CMS) also proposed favorable 2027 Medicare payment updates for RECELL.
Key Highlights
- Q2 net revenue grew 18% year-over-year and 13% sequentially to a record $21.7 million.
- Gross profit margin increased to 81.9%, up 70 basis points year-over-year.
- Operating expenses decreased 6% year-over-year to $24.6 million.
- Net cash use improved to approximately $3.2 million from $9.9 million in Q1 2026.
- Raised full-year 2026 net revenue guidance to $86 million to $89 million, from $80 million to $85 million.
- Company expects to reach cash flow breakeven in Q4 2026.
- Net loss improved to $7.7 million, or $0.25 per basic and diluted share, from $9.9 million YoY.
- CMS proposed 2027 Medicare payment updates for RECELL, transitioning to national physician payment.
Price Impact
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