Avita Medical, Inc.
3.6900+0.03 (+0.82%)
Oct 29, 4:00:00 PM EDT · NasdaqCM · RCEL · USD
Key Stats
Market Cap
99.70MP/E (TTM)
-Basic EPS (TTM)
-1.97Dividend Yield
0%Recent Filings
8-K
CEO transition and Q3 revenue
AVITA Medical's CEO James Corbett stepped down on October 16, 2025, without disagreements, paving the way for Board Chairman Cary Vance to step in as interim CEO with his 30 years of healthcare leadership. The company anticipates Q3 2025 revenue of about $17 million and has secured a covenant waiver from lender OrbiMed while negotiating future terms. Vance's deep industry expertise positions AVITA to stabilize operations. Leadership transitions carry inherent uncertainties.
8-K
AVITA Medical's $15M placement
AVITA Medical raised approximately US$15 million through a private placement of 17,201,886 CDIs at AU$1.32 each to Australian institutional investors, netting about US$14.2 million after US$0.8 million in fees. The deal, exempt under Regulation S, closes around August 19, 2025. Funds will bolster operations. Placement strengthens balance sheet amid growth needs.
8-K
AVITA completes $15M equity raise
AVITA Medical completed a private placement in Australia on August 12, 2025, issuing 17.2 million new CDIs at A$1.32 each to raise US$15 million. Funds will bolster working capital and fuel growth in its acute wound care portfolio. This cash infusion secures operations through 2026's anticipated free cash flow. Yet dilution from the 11% discount to ASX closing price looms.
10-Q
Q2 FY2025 results
AVITA Medical posted solid Q2 revenue growth, with total revenues climbing 21% year-over-year to $18.4M, driven by deeper U.S. penetration in burn and trauma accounts plus new launches like Cohealyx; sales revenue rose 20% y/y to $18.2M while lease revenue from RECELL GO jumped from negligible to $0.2M. Gross margins dipped to 81.2% from 86.1% y/y due to product mix and volume discounts, yet operating loss narrowed 29% to $11.1M as sales and marketing expenses fell 12% on headcount cuts. For the half-year, revenues surged 40% y/y to $36.9M, trimming net loss to $23.8M or $0.90 per diluted share on 26.4M shares, matching the filing's computation. Cash burned $20.5M in operations, leaving $12.2M in cash equivalents and $3.5M in marketable securities against $42.2M debt under a strained credit facility with recent covenant waivers; free cash flow not disclosed in the 10-Q. RECELL remains the core driver at 92% of commercial sales. Reimbursement headwinds persist.
8-K
AVITA eases debt covenants
AVITA Medical amended its credit agreement with OrbiMed on August 7, 2025, easing trailing 12-month revenue covenants to $73 million for Q3 2025, rising to $103 million by Q2 2026, while keeping $115 million thereafter; in exchange, it issued 400,000 common shares instead of cash. This follows Q2 revenue of $18.4 million, up 21% year-over-year, but hit by Medicare payment delays that cut demand 20%. Lenders waived a going-concern qualification for Q2. Full-year guidance now targets $76-81 million revenue, with cash break-even in Q2 2026.
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