AVITA Medical Q1 revenue $11.1M (+5.8%), net loss $18.7M; lowers 2024 revenue guidance to lower end

AVITA Medical, Inc.

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

Commercial revenue $11.1M, up 5.8% YoY; gross margin 86.4%.
Net loss $18.7M ($0.73/share) vs $9.2M loss ($0.37) in Q1 2023; operating expenses $26.8M.
Full-year 2024 commercial revenue expected at lower end of $78.5-84.5M range, implying ~57% growth.
Launched PermeaDerm biosynthetic wound matrix in US on March 23, 2024.
RECELL GO FDA decision by May 30, 2024; cashflow breakeven targeted no later than Q3 2025.

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. updated its first quarter ended March 31, 2024 guidance (lowered).

Period: first quarter ended March 31, 2024
Guidance: lowered
Result: reported results

Exact text from the filing

On May 13, 2024, AVITA Medical, Inc. issued a press release announcing its financial results for the first quarter ended March 31, 2024.

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Source: SEC EDGAR

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