RCEL

MKT CAP:$111M

AVITA Medical, Inc.

Market Cap

$111M

Healthcare·Medical - Devices·🇺🇸 United States·NASDAQ

Healthcare·Medical - Devices·🇺🇸·NASDAQ

Stock Price

$4.77+$1.30 (+37.46%)

Apr 21, 2026

Company Details

AVITA Medical Inc. operates as a commercial-stage regenerative tissue company in the United States, Australia, and the United Kingdom. It offers regenerative products to address unmet medical needs in burn injuries, trauma injuries, chronic...

CEO

Cary G. Vance

IPO Date

May 14, 2012

Website

www.avitamedical.com

Key Metrics TTM

Revenue

$72M

+11.5% YoY

Net Income

-$49M

EPS (Diluted)

-$1.75

Free Cash Flow

-$31M

Revenue / Share

$2.36

Gross Margin

82.1%

Operating Margin

-59.4%

Net Margin

-67.8%

FCF Margin

-43.6%

P/S

1.5x

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Feb 12, 2026

$72M+11.5%EPS -$1.74

Q4 2025

Feb 12, 2026

$18M-4.3%EPS -$0.38

Q3 2025

Nov 6, 2025

$17M-12.7%EPS -$0.46

Q2 2025

Aug 7, 2025

$18M+21.2%EPS -$0.38

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$8M	$6M	-$9M
Q2 22	$8M	$7M	-$6M
Q3 22	$9M	$8M	-$6M
Q4 22	$9M	$8M	-$6M
Q1 23	$11M	$9M	-$10M
Q2 23	$12M	$10M	-$11M
Q3 23	$14M	$12M	-$9M
Q4 23	$14M	$12M	-$12M
Q1 24	$11M	$10M	-$17M
Q2 24	$15M	$13M	-$16M
Q3 24	$20M	$16M	-$14M
Q4 24	$18M	$16M	-$10M
Q1 25	$19M	$16M	-$12M
Q2 25	$18M	$15M	-$11M
Q3 25	$17M	$14M	-$9M
Q4 25	$18M	$14M	-$10M

Valuation

Quarter	P/S	P/E
Q1 22	3.5x	—
Q2 22	3.7x	—
Q3 22	3.5x	—
Q4 22	3.2x	—
Q1 23	3.0x	—
Q2 23	2.7x	—
Q3 23	2.4x	—
Q4 23	2.2x	—
Q1 24	2.2x	—
Q2 24	2.0x	—
Q3 24	1.8x	—
Q4 24	1.7x	—
Q1 25	1.5x	—
Q2 25	1.5x	—
Q3 25	1.5x	—
Q4 25	1.5x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$9M	-$9M
Q2 22	-$4M	-$4M
Q3 22	-$3M	-$3M
Q4 22	-$3M	-$4M
Q1 23	-$9M	-$9M
Q2 23	-$9M	-$9M
Q3 23	-$9M	-$9M
Q4 23	-$11M	-$11M
Q1 24	-$21M	-$22M
Q2 24	-$13M	-$15M
Q3 24	-$7M	-$11M
Q4 24	-$8M	-$10M
Q1 25	-$10M	-$11M
Q2 25	-$10M	-$11M
Q3 25	-$5M	-$6M
Q4 25	-$5M	-$4M

Capital Expenditures

Quarter	CapEx
Q1 22	$76.0K
Q2 22	$234.0K
Q3 22	$125.0K
Q4 22	$90.0K
Q1 23	$301.0K
Q2 23	$304.0K
Q3 23	$512.0K
Q4 23	$330.0K
Q1 24	$1M
Q2 24	$3M
Q3 24	$4M
Q4 24	$2M
Q1 25	$234.0K
Q2 25	$524.0K
Q3 25	$955.0K
Q4 25	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-14.0%	+15.4%
Q2 22	-19.1%	-2.1%
Q3 22	+29.5%	+14.4%
Q4 22	+36.3%	-0.3%
Q1 23	+39.9%	+20.2%
Q2 23	+41.0%	+55.9%
Q3 23	+50.1%	+54.7%
Q4 23	+50.1%	+72.3%
Q1 24	+5.3%	+38.4%
Q2 24	+29.3%	+34.5%
Q3 24	+43.2%	+45.3%
Q4 24	+29.7%	+7.2%
Q1 25	+66.7%	+7.2%
Q2 25	+21.2%	-4.1%
Q3 25	-12.7%	-21.4%
Q4 25	-4.3%	-1.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$3M	38.9%
Q2 22	$1M	17.0%
Q3 22	$1M	15.8%
Q4 22	$1M	12.9%
Q1 23	$3M	25.0%
Q2 23	$1M	9.7%
Q3 23	$2M	17.8%
Q4 23	$2M	15.3%
Q1 24	$3M	23.3%
Q2 24	$4M	26.5%
Q3 24	$4M	20.9%
Q4 24	$3M	15.2%
Q1 25	$3M	14.6%
Q2 25	$3M	14.5%
Q3 25	$3M	16.3%
Q4 25	$1M	7.8%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$4M	$8M	$5M
Q2 22	$3M	$5M	$5M
Q3 22	$4M	$5M	$5M
Q4 22	$3M	$5M	$6M
Q1 23	$5M	$8M	$7M
Q2 23	$5M	$6M	$10M
Q3 23	$4M	$6M	$11M
Q4 23	$7M	$8M	$10M
Q1 24	$5M	$9M	$13M
Q2 24	$5M	$8M	$16M
Q3 24	$5M	$10M	$15M
Q4 24	$5M	$7M	$14M
Q1 25	$6M	$6M	$15M
Q2 25	$5M	$7M	$14M
Q3 25	$4M	$7M	$12M
Q4 25	$6M	$7M	$12M

Revenue Segments

Quarter	Recell System	Lease Revenue
Q1 24	$11M	—
Q2 24	$15M	$12.0K
Q3 24	$19M	$152.0K
Q1 25	$18M	$189.0K

Revenue by Geography

Quarter	United States	Australia	Japan	European Union
Q1 22	$7M	—	—	—
Q2 22	$8M	—	—	—
Q3 22	$9M	—	—	—
Q1 23	$9M	$62.0K	$1M	—
Q2 23	$11M	$33.0K	$708.0K	—
Q3 23	$13M	$61.0K	$581.0K	—
Q4 23	$13M	$66.0K	$1M	—
Q1 24	$11M	$17.0K	$461.0K	$51.0K
Q2 24	$15M	$61.0K	$389.0K	$103.0K
Q3 24	$19M	$54.0K	$388.0K	—
Q4 24	$18M	$180.0K	$193.0K	$1.0K
Q1 25	$18M	$40.0K	$634.0K	$49.0K
Q2 25	$18M	$40.0K	$427.0K	$49.0K
Q3 25	$16M	$80.0K	$605.0K	$49.0K
Q4 25	$17M	$40.0K	$422.0K	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$24M	$60M	$83M
Q2 22	$35M	$50M	$84M
Q3 22	$24M	$61M	$84M
Q4 22	$18M	$61M	$79M
Q1 23	$28M	$45M	$73M
Q2 23	$37M	$29M	$66M
Q3 23	$51M	$9M	$60M
Q4 23	$22M	$67M	$89M
Q1 24	$17M	$51M	$68M
Q2 24	$17M	$37M	$54M
Q3 24	$19M	$26M	$44M
Q4 24	$14M	$22M	$36M
Q1 25	$15M	$11M	$26M
Q2 25	$12M	$3M	$16M
Q3 25	$15M	$8M	$23M
Q4 25	$10M	$8M	$18M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	25M	+2.4%	+9.7%
Q2 22	25M	+0.1%	+0.4%
Q3 22	25M	+0.1%	+0.4%
Q4 22	25M	+0.3%	+3.0%
Q1 23	25M	+0.5%	+1.1%
Q2 23	25M	+0.1%	+1.1%
Q3 23	25M	+0.6%	+1.6%
Q4 23	25M	+0.3%	+1.6%
Q1 24	26M	+0.6%	+1.7%
Q2 24	26M	+0.5%	+2.1%
Q3 24	26M	+0.9%	+2.3%
Q4 24	26M	+0.6%	+2.6%
Q1 25	26M	+0.4%	+2.4%
Q2 25	26M	+0.4%	+2.4%
Q3 25	28M	+7.7%	+9.3%
Q4 25	30M	+7.0%	+16.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$69.8K	108
Q2 22	$77.2K	108
Q3 22	$84.2K	108
Q4 22	$75.0K	126
Q1 23	$83.7K	126
Q2 23	$93.3K	126
Q3 23	$108.3K	126
Q4 23	$68.6K	207
Q1 24	$53.6K	207
Q2 24	$73.4K	207
Q3 24	$94.4K	207
Q4 24	$70.8K	260
Q1 25	$71.2K	260
Q2 25	$70.8K	260
Q3 25	$65.6K	260
Q4 25	$440	40K

Revenue / Employee