AVITA Medical Q3 commercial revenue up 51% to $13.5M; net loss $8.7M

AVITA Medical, Inc.

2023-Q3 EPS reported $1.12 revenue$35,948,000

Commercial revenue $13.5M (+51% YoY); total revenue $13.6M; gross margin 84.5%.
Net loss $8.7M ($0.34 loss per share) vs $5.6M loss a year ago; operating expenses $21.0M.
Q4 2023 revenue guidance $15.3M-$16.3M (64%-73% YoY growth); full-year $51M-$53M.
Secured up to $90M debt facility; $40M drawn at closing; cash $60.1M as of Sept 30.
Expect FDA approval of RECELL GO by May 30, 2024; targeting profitability in 2025.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.92

AVITA Medical, Inc. reported the third quarter ended September 30, 2023 results: revenue $13.6 million, net income $8.7 million, EPS $0.34 per basic and diluted share. Guidance reaffirmed.

Period: the third quarter ended September 30, 2023
Revenue: $13.6 million
Net income: $8.7 million
EPS: $0.34 per basic and diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

$13.5 million in the three-months ended September 30, 2023, compared to $9.0 million in the same period in 2022. Total revenue, which includes BARDA revenue, increased by 50% to $13.6 million compared to $9.1 million in the same period in 2022. Gross profit margin increased by 1.3% to 84.5% compared to 83.2% for the third quarter of 2022. The increase was largely

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Source: SEC EDGAR

accession 0000950170-23-062036

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