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AVITA Medical Inc

avitamedical.com

What Do They Do?

Sells RECELL skin-cell harvesting devices and wound-care products to hospitals, other treatment centers, and distributors.

How Do They Make Money?

Hospitals, treatment centers and distributors buy RECELL products, PermeaDerm and Cohealyx; product-sale revenue is counted when the goods are sold. AVITA also earns lease revenue for the reusable RECELL GO device.

FY2025 revenue

Who Are Their Customers?

Hospitals and other treatment centers buy AVITA’s wound-care products, while international sales go through third-party distributors.

Do Revenues Turn Into Profits?

No. It lost $48.6M in FY2025.

Operating income, FY2025
−59% of revenue
▼ −25% (Loss) vs FY2024 (−$56.6M, −88%)
Net income, FY2025
−68% of revenue
▼ −21% (Loss) vs FY2024 (−$61.8M, −96%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▲ +18%
vs $18.4M in Q2 FY2025
Net income
▼ −23% (Loss)
vs −$9.9M in Q2 FY2025
  • Aug 11, 2026 AVITA amended its PermeaDerm agreements with Stedical The amendment changes revenue shares, gives AVITA a right of first offer and refusal on certain international territories, and allows Stedical to sell in some U.S. markets.
  • Aug 6, 2026 AVITA raised its 2026 revenue guidance The 2026 revenue range rose to $86 million to $89 million from $80 million to $85 million; AVITA also expects cash flow breakeven in the fourth quarter of 2026.
  • May 1, 2026 AVITA appointed Cary Vance as CEO Jan Stern Reed was also appointed Chair of the Board.

Growing. Revenue grew 2.4x in 4 years, from $29.2M in FY2020 to $71.6M in FY2025, about 25% a year.

A broader wound-care portfolio The older report centered on RECELL and planned expansion into additional indications. The latest report describes a multi-product acute wound-care platform that also includes Cohealyx and PermeaDerm.

Vitiligo commercialization The older report planned commercializing RECELL for vitiligo after approvals and reimbursement; the latest report says AVITA has paused further commercial investment because reimbursement remains limited and uncertain.

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