AVITA Medical Q2 commercial revenue record $15.1M (+29%); FY24 guide $68-70M

AVITA Medical, Inc.

2024-Q2 EPS reported -$1.32 revenue$26,299,000

Commercial revenue $15.1M (+29% YoY); gross margin 86.2% (up 500 bps).
Net loss $15.4M ($0.60 loss per share) vs $10.4M loss ($0.41) in Q2 2023.
RECELL GO PMA approved May 29; RECELL GO mini submitted June 28, FDA decision by Dec 27.
Exclusive distribution deal with Regenity for dermal matrix; 510(k) clearance expected Q4 2024.
Q3 2024 revenue guidance $19-20M (40-48% YoY growth); FY24 guide revised to $68-70M (37-41% growth).

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