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AVITA Medical, Inc. (ASX:AVH)

ALERT: Price-sensitive ASX Announcement for AVH
Current share price for AVH : $1.135 -0.065 (-5.42%)+
Announcement
Release
15 May 2026 8:23AM
Price at Release
$1.200
Full Release
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Summary
AVITA Medical, Inc. reported its financial results for the first quarter of 2026, highlighting a 4% revenue increase to $19.3 million, driven by robust performance from Cohealyx and improved utilization of RECELL. The gross profit margin was slightly down, influenced by the product mix, while operating expenses decreased significantly due to ongoing cost optimization strategies. The net loss improved to $10.6 million from $13.9 million in the previous year. The company entered a BARDA agreement for burn emergency preparedness and announced positive clinical data for Cohealyx I. Regulatory clearance for RECELL GO® in Australia and New Zealand was also achieved, with full-year revenue expected to grow significantly over 2025.
Key Points
  • Total revenue for the first quarter of 2026 was approximately $19.3 million, a 4% increase year-over-year.
  • The company's gross profit margin was 81.7%, down slightly from 84.7% the previous year due to product mix changes.
  • Operating expenses decreased by 11% year-over-year to $24.5 million, reflecting cost optimization measures.
  • Net loss for the quarter was $10.6 million, or $0.35 per share, compared to a net loss of $13.9 million, or $0.53 per share, in the same period in 2025.
  • AVITA Medical secured a 10-year BARDA agreement valued at up to $25.5 million for U.S. burn emergency preparedness.
  • Positive interim data from Cohealyx I showed a significant reduction in time to skin grafting readiness, supporting clinical outcomes.
  • The company received regulatory clearance for RECELL GO® in Australia and New Zealand.
  • Expected full-year 2026 revenue is in the range of $80 to $85 million, reflecting 12% to 19% growth over 2025.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.