AVITA Medical cuts Q1 2024 revenue guidance to $11.0-$11.3M from prior $14.8-$15.6M

AVITA Medical, Inc.

2024-Q1 EPS reported -$0.73 revenue$11,104,000

Expected Q1 commercial revenue $11.0M-$11.3M vs prior guidance $14.8M-$15.6M.
Full-year 2024 revenue guidance reaffirmed at lower end of $78.5M-$84.5M.
Slower new account conversion: 73 accounts added since June 2023 vs expected 135 by March 2024.
Launched PermeaDerm in March; RECELL GO launch upcoming.
Q1 2024 earnings call scheduled for May 13, 2024 after market close.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AVITA Medical, Inc. reported first quarter of 2024 results: revenue US$11.0 million to US$11.3 million. Guidance lowered.

Period: first quarter of 2024
Revenue: US$11.0 million to US$11.3 million
Guidance: lowered
Result: guidance update

Exact text from the filing

previously provided guidance of US$78.5 million to US$84.5 million. For the quarter ended March 31, 2024, AVITA Medical now expects commercial revenue to be in the range of US$11.0 million to US$11.3 million. This range is below the previously provided revenue guidance of US$14.8 million to US$15.6 million. The revision in guidance is attributable to a

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Source: SEC EDGAR

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