Earnings Releases·Nov 5, 2026, 4:10 PM ET

AVITA Medical — Third Quarter 2026 Earnings Summary

Revenue surged 53% year-over-year to $26.1 million and rose 20% sequentially, while gross margin expanded 270 basis points to 84.0% and net loss narrowed to $6.2 million ($0.20/share) from $13.2 million in the prior year.
Full-year 2026 revenue guidance was raised to $92 million–$94 million (from $86 million–$89 million), with implied Q4 guidance of $24.9 million–$26.9 million and a reaffirmed expectation to achieve cash flow breakeven in Q4 2026.
The company satisfied the $85 million trailing twelve-month revenue milestone to draw the remaining $10 million tranche of its credit facility, bringing total borrowings to $60 million and enabling the removal of the "going concern" qualification from its Form 10-Q.
RECELL and Cohealyx drove sequential growth with 20% and 21% increases respectively, while Medicare finalized national payment values for RECELL procedures effective January 1, 2027.