AVITA Medical Q3 revenue $19.5M (+44% YoY); amends OrbiMed debt, removes $50M tranches

AVITA Medical, Inc.

2024-Q3 EPS reported -$1.95 revenue$45,845,000

Commercial revenue $19.5M, up 44% YoY; gross margin 83.7% vs 84.5%.
Net loss $16.2M ($0.62 loss per share) vs $8.7M loss in prior year quarter.
Amended OrbiMed credit agreement: terminated two $50M tranches, removed Q4 2024 revenue covenant.
Full-year 2024 revenue guidance reaffirmed at $68-70M (37-41% growth); Q4 guidance $22.3-24.3M.
Expects RECELL GO mini FDA approval by Dec 31, 2024; Cohealyx launch Jan 2025.

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