$RCEL
AVITA Medical, Inc.

2020 Q4 Form 10-Q Financial Statement

#000119312521044929 Filed on February 16, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2019 Q3
Revenue $5.103M $3.259M $3.250M
YoY Change 56.58% 213.37% 1108.18%
Cost Of Revenue $821.0K $846.0K $619.0K
YoY Change -2.96% 249.59% 166.81%
Gross Profit $4.282M $2.413M $2.631M
YoY Change 77.46% 202.38% 7010.81%
Gross Profit Margin 83.91% 74.04% 80.95%
Selling, General & Admin $7.001M $11.08M $6.521M
YoY Change -36.81% 77.58% 36.77%
% of Gross Profit 163.5% 459.14% 247.85%
Research & Development $3.361M $2.312M $1.819M
YoY Change 45.37% 14.51% -7.76%
% of Gross Profit 78.49% 95.81% 69.14%
Depreciation & Amortization $135.0K $88.00K $66.00K
YoY Change 53.41%
% of Gross Profit 3.15% 3.65% 2.51%
Operating Expenses $10.36M $13.39M $8.340M
YoY Change -22.62% 51.29% 19.88%
Operating Profit -$5.631M -$10.59M -$3.658M
YoY Change -46.84% 68.13% -27.68%
Interest Expense $3.000K $9.000K $11.00K
YoY Change -66.67% 80.0% 83.33%
% of Operating Profit
Other Income/Expense, Net $4.000K $99.00K $103.0K
YoY Change -95.96% 153.85% 178.38%
Pretax Income -$5.630M -$10.50M -$3.566M
YoY Change -46.39% 67.6% -29.06%
Income Tax $11.00K $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.641M -$10.50M -$3.566M
YoY Change -46.29% 67.6% -29.16%
Net Earnings / Revenue -110.54% -322.25% -109.72%
Basic Earnings Per Share -$0.26 -$0.53 -$0.19
Diluted Earnings Per Share -$0.26 -$0.53 -$0.19
COMMON SHARES
Basic Shares Outstanding 21.62M 19.88M 18.72M
Diluted Shares Outstanding 21.62M 19.88M 18.72M

Balance Sheet

Concept 2020 Q4 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.77M
YoY Change
Cash & Equivalents $59.77M $87.46M $15.30M
Short-Term Investments
Other Short-Term Assets $50.00K
YoY Change
Inventory $2.289M
Prepaid Expenses $637.0K
Receivables $1.941M
Other Receivables $440.0K
Total Short-Term Assets $65.45M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $1.488M
YoY Change
Goodwill
YoY Change
Intangibles $420.0K
YoY Change
Long-Term Investments
YoY Change
Other Assets $152.0K
YoY Change
Total Long-Term Assets $3.855M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $65.45M
Total Long-Term Assets $3.855M
Total Assets $69.31M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.790M
YoY Change
Accrued Expenses $4.970M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $7.873M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $1.840M
YoY Change
Total Long-Term Liabilities $1.840M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $7.873M
Total Long-Term Liabilities $1.840M
Total Liabilities $9.708M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$210.8M
YoY Change
Common Stock $3.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $59.60M $87.31M $17.96M
YoY Change
Total Liabilities & Shareholders Equity $69.31M
YoY Change

Cashflow Statement

Concept 2020 Q4 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income -$5.641M -$10.50M -$3.566M
YoY Change -46.29% 67.6% -29.16%
Depreciation, Depletion And Amortization $135.0K $88.00K $66.00K
YoY Change 53.41%
Cash From Operating Activities -$5.680M -$4.881M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$340.0K $86.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$340.0K -$152.0K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.00K -17.00K
YoY Change
NET CHANGE
Cash From Operating Activities -5.680M -4.881M
Cash From Investing Activities -340.0K -152.0K
Cash From Financing Activities -10.00K -17.00K
Net Change In Cash -6.030M -5.072M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$5.680M -$4.881M
Capital Expenditures -$340.0K $86.00K
Free Cash Flow -$5.340M -$4.967M
YoY Change

Facts In Submission

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CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y10M27D
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0662
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0750
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
383000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
784000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
428000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
413000
CY2020Q4 rcel Operating Lease Liabilities Payments Due Year Five And Thereafter
OperatingLeaseLiabilitiesPaymentsDueYearFiveAndThereafter
105000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2113000
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
207000
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1139000
CY2020Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
947000
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
497000
CY2020Q4 us-gaap Other Assets Current
OtherAssetsCurrent
50000
CY2020Q4 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
145000
CY2020Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
178000
CY2020Q4 rcel Inventory Impairments
InventoryImpairments
12000
rcel Inventory Impairments
InventoryImpairments
55000
CY2019Q4 rcel Inventory Impairments
InventoryImpairments
134000
rcel Inventory Impairments
InventoryImpairments
187000
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
9600000
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1260524
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1154270
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
5309
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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3567
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
97378
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
683153
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
339359
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
147520
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
151837
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
45002
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
-5641000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
-10502000
us-gaap Net Income Loss
NetIncomeLoss
-15868000
us-gaap Net Income Loss
NetIncomeLoss
-14068000
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.53
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.74
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.73
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.53
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.74
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.73
us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06
CY2019Q4 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
138000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
310000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
293000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1205000
CY2020Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
881000
CY2020Q4 us-gaap Depreciation
Depreciation
135000
CY2019Q4 us-gaap Depreciation
Depreciation
88000
us-gaap Depreciation
Depreciation
324000
us-gaap Depreciation
Depreciation
154000
CY2020Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
637000
CY2020Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
792000
CY2020Q2 us-gaap Other Assets Current
OtherAssetsCurrent
75000
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
653000
CY2020Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
483000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
168000
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
119000
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
588000
CY2020Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
26000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
49000
CY2019Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
10000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
55000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
79000
CY2020Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
22000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
22000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
22000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
183000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
383000
CY2020Q4 rcel Lease Deposits Current
LeaseDepositsCurrent
2000
CY2020Q2 rcel Lease Deposits Current
LeaseDepositsCurrent
123000
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2020-12-31
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
dei Entity Central Index Key
EntityCentralIndexKey
0001762303
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Security12b Title
Security12bTitle
Common Stock, par value $0.0001 per share
dei Trading Symbol
TradingSymbol
RCEL
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2021Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
21628633
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
CY2020Q4 us-gaap Common Stock Value
CommonStockValue
3000
CY2020Q2 us-gaap Common Stock Value
CommonStockValue
3000
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
21625058
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
21625058
CY2020Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
21467912
CY2020Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
21467912
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
rcel Description Of Stock Exchange Ratio
DescriptionOfStockExchangeRatio
This exchange was conducted on the basis of one share of common stock of AVITA Medical, Inc. for every 100 ordinary shares of AVITA Medical, effecting an ‘implicit consolidation’ or ‘reverse split’. The holders of ordinary shares of AVITA Medical received one CDI for every 20 ordinary shares held in AVITA Medical, and the holders of AVITA Medical ADSs (each of which previously represented 20 ordinary shares in AVITA Medical) received one share of common stock in AVITA Medical, Inc. for every five ADSs held.
CY2020Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1000
CY2020Q4 rcel Decrease In Operating Lease Rou Assets And Operating Lease Liabilities
DecreaseInOperatingLeaseRouAssetsAndOperatingLeaseLiabilities
563000
CY2020Q4 rcel Increase In Operating Lease Rou Assets And Operating Lease Liabilities
IncreaseInOperatingLeaseRouAssetsAndOperatingLeaseLiabilities
236000
CY2019Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
81702000
CY2019Q4 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
5077000
CY2019Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
248000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1000
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
2033898
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Use of Estimates </div></div></div></div> <div style="text-indent: 9%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts including doubtful accounts, carrying value of long-lived asset, the useful lives of long-lived assets, inventory, accounting for income taxes and share-based compensation and related disclosures. Estimates have been prepared on the basis of the current and available information. However, actual results could differ from estimated amounts. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Concentrations </div></div></div></div> <div style="text-indent: 9%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, and trade and other receivables. As of December&#160;31, 2020, and June&#160;30, 2020, substantially all of the Company&#8217;s cash was deposited in accounts at financial institutions, and amounts exceed federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial strength of the depository institutions in which its cash is held. </div></div> <div style="text-indent: 9%; font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">As of December&#160;31, 2020 and June&#160;30, 2020, no single customer accounted for more than <div style="letter-spacing: 0px; top: 0px;;display:inline;">10</div>% of net accounts receivable. For the three months and six months ended December&#160;31, 2020, no single customer accounted for more than 10% of total revenues. For the three months ended December&#160;31, 2019, no single customer accounted for more than 10% of total revenues. For the six months ended December&#160;31, 2019, one customer accounted for approximately 11% of total revenues. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2020Q4 us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
0
us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
0
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
81702000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
248000
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
5077000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
248000
us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
15853
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
107000
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
-6000
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
10000
us-gaap Inventory Write Down
InventoryWriteDown
-82000
us-gaap Inventory Write Down
InventoryWriteDown
19000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
161000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
81701000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
5077000
dei Entity Registrant Name
EntityRegistrantName
AVITA MEDICAL, INC.
dei Document Quarterly Report
DocumentQuarterlyReport
true
us-gaap Income Taxes Paid
IncomeTaxesPaid
42000
us-gaap Income Taxes Paid
IncomeTaxesPaid
0
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
60000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
51000
CY2020Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
125000
CY2020Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
0
dei Document Transition Report
DocumentTransitionReport
false
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">10. Contingencies </div></div></div><div style="text-indent: 9%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company is subject to certain contingencies arising in the ordinary course of business. The Company records accruals for these contingencies to the extent that a loss is both probable and reasonably estimable. If some amount within a range of loss appears to be a better estimate than any other amount within the range, that amount is accrued. Alternatively, when no amount within a range of loss appears to be a better estimate than any other amount, the lowest amount in the range is accrued. The Company expenses legal costs associated with loss contingencies as incurred. As of December&#160;31, 2020 and June&#160;30, 2020, the Company did not have any outstanding or threatened litigation that would have a material impact to the financial statements. </div><br/></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
125000
CY2020Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
5000
CY2019Q4 us-gaap Share Based Compensation
ShareBasedCompensation
2900000
CY2020Q4 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
0
CY2019Q4 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
0
us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
0
us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
0
CY2019Q4 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
false
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2020Q4 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0
CY2020Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
-346000
rcel Non Cash Lease Expense
NonCashLeaseExpense
247000
rcel Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-230000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Reclassification </div></div></div></div></div> <div style="text-indent: 9%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">Certain amounts in the prior period Consolidated Statement of Operations&#160;have been reclassified to conform to the presentation of the current period financial statements. These reclassifications had no effect on the previously reported operating expense, loss before taxes, net loss and earnings per share.</div> </div></div><br/></div> <div style="text-indent: 9%; font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">After the issuance of the consolidated financial statements for the year ended June 30, 2020, and the quarter ended September 30, 2020, the Company concluded that the presentation of share-based compensation should be reclassified to the functional expense line items consistent with cash compensation in accordance with SAB Topic 14. The Company has determined that such change in presentation of prior period amounts in the Statement of Operations is not material to the consolidated financial statements. </div></div></div> <div style="text-indent: 9%; font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company reclassified share-based compensation expense of $2.9 million for the three months ended December 31, 2019 to sales and marketing expense of $234,000, general and administrative expense of $2.5 million and research and development expenses of $120,000. For the six months ended December 31, 20<div style="display:inline;">19</div>, the Company reclassified share-based compensation of $3.6 million to sales and marketing expense of $370,000, general and administrative expense of $2.9 million and research and development expenses of $305,000. </div></div></div> <div style="background: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;;display:inline;"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="font-family: &quot;times new roman&quot;; font-size: 10pt; border-collapse: collapse; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:100%;"><tr style="font-size: 0px;"><td style="width:58%;"></td><td style="vertical-align:bottom;;width:2%;"></td><td></td><td></td><td></td><td style="vertical-align:bottom;;width:2%;"></td><td></td><td></td><td></td><td style="vertical-align:bottom;;width:2%;"></td><td></td><td></td><td></td><td style="vertical-align:bottom;;width:2%;"></td><td></td><td></td><td></td><td style="vertical-align:bottom;;width:2%;"></td><td></td><td></td><td></td><td style="vertical-align:bottom;;width:2%;"></td><td></td><td></td><td></td></tr></table> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2020Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
-346000
CY2019Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2903000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2920000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3575000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
151000
CY2020Q4 us-gaap Share Based Compensation
ShareBasedCompensation
346000

Files In Submission

Name View Source Status
0001193125-21-044929-index-headers.html Edgar Link pending
0001193125-21-044929-index.html Edgar Link pending
0001193125-21-044929.txt Edgar Link pending
0001193125-21-044929-xbrl.zip Edgar Link pending
d91453d10q.htm Edgar Link pending
d91453dex311.htm Edgar Link pending
d91453dex312.htm Edgar Link pending
d91453dex32.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
g91453g11i11.jpg Edgar Link pending
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rcel-20201231.xml Edgar Link completed
rcel-20201231.xsd Edgar Link pending
rcel-20201231_cal.xml Edgar Link unprocessable
rcel-20201231_def.xml Edgar Link unprocessable
rcel-20201231_lab.xml Edgar Link unprocessable
rcel-20201231_pre.xml Edgar Link unprocessable
report.css Edgar Link pending
Show.js Edgar Link pending