Avita Medical announced it will release its third quarter 2026 financial results after the close of U.S. markets on Thursday, November 5, 2026. The therapeutic acute wound care company will host a conference call and webcast later that day to discuss financial performance and recent business highlights.

The earnings call is scheduled for 1:30 pm Pacific Time, which corresponds to 8:30 am Australian Eastern Daylight Time on Friday, November 6, 2026. Investors can participate in the live broadcast or access a replay via the company's investor relations website.

About Avita Medical

Avita Medical is a leading therapeutic acute wound care company focused on delivering transformative solutions. Its core technology, RECELL, is approved by the FDA for treating thermal burn and trauma wounds. RECELL utilizes a patient’s own skin to create Spray-On Skin, an innovative point-of-care solution designed to accelerate healing and improve clinical outcomes.

In the United States, the company holds exclusive rights to market Cohealyx, a collagen-based dermal matrix, and PermeaDerm, a biosynthetic wound matrix. Internationally, RECELL and RECELL GO are CE-marked in Europe, TGA-certified in Australia, listed with Medsafe in New Zealand, and PMDA-approved in Japan.

Key Dates and Logistics

Investors unable to join the live call may register for dial-in details or listen to the webcast through provided links. A replay will be available on the Events page of the investor relations site for those who miss the live session.

AVITA Medical reported second-quarter fiscal year 2026 revenue of $21.7 million, an 18% year-over-year increase and a 13% sequential rise. The company raised its full-year revenue guidance to $86 million to $89 million, reflecting 20-24% growth over 2025.

Gross margin expanded to 81.9% from 81.2% in the prior-year quarter. Operating expenses remained stable at $24.6 million, approximately 6% lower than the same period last year. This disciplined cost control, combined with revenue scaling, narrowed the operating loss to $6.9 million from $11.1 million in Q2FY25.

Financial Performance Overview

The quarter marked the first time AVITA Medical crossed $20 million in quarterly revenue. The company ended the period with approximately $11.1 million in cash, cash equivalents, and marketable securities. Net cash use improved significantly to approximately $3.2 million, driven by normalized seasonal payments and improved collections.

Product Portfolio Growth

RECELL, the company's flagship acute wound care product, generated $18.5 million in U.S. revenue, growing 13% sequentially. International RECELL revenue increased approximately 26% sequentially. Total U.S. RECELL volume exceeded 2,600 units, rising more than 10% sequentially.

Cohelix contributed $1.7 million in revenue, representing 16% sequential growth. Permioderm generated $600,000 as commercial adoption remains in early stages. Currently, 25 hospitals utilize all three AVITA products.

Path to Cash Flow Breakeven

Management introduced new guidance to achieve cash flow breakeven and begin generating cash during the fourth quarter of 2026. This outlook is supported by three key trends: sustained sequential revenue growth (9.7% and 13% in recent quarters), maintained gross margins above 81%, and controlled operating expenses.

The Perceptive debt facility provides access to an additional $10 million tranche once trailing 12-month revenue reaches $85 million, offering financial flexibility during this transition.

Reimbursement and Regulatory Updates

AVITA Medical is preparing for a transition to new Category 1 CPT codes for Skin Cell Suspension Autograft (SCSA), effective January 1, 2027. The new four-code family will replace the current eight-code structure, simplifying reimbursement by moving from regional Medicare Administrative Contractor pricing to nationally published relative value units. This change is expected to reduce coding complexity and accelerate clinical adoption.

What the Numbers Show

The divergence between revenue growth and operating expense stability highlights significant operating leverage. While revenue grew 18% YoY, operating expenses fell 6% YoY. This combination drove a substantial improvement in losses, with net loss narrowing from $9.9 million to $7.7 million. Additionally, the receipt of a proposed CMS payment update for SCSA codes suggests a potential reduction in administrative friction for providers, which may support future volume growth beyond current physician utilization trends.