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AVITA Medical
AVITA Medical (RCEL) investor relations material
AVITA Medical Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary12 Feb, 2026
Executive summary
Achieved 11% year-over-year revenue growth in 2025, reaching $71.6 million, with Q4 revenue of $17.6 million, reflecting stabilization and improved account utilization despite reimbursement headwinds.
Refined commercial focus on core burn and trauma centers, improved cash visibility, and removed reimbursement and balance sheet constraints.
Advanced multi-product platform strategy, with RECELL as the foundation and growing integration of Cohealyx and PermeaDerm; clinical programs for both are progressing with data expected in 2026.
Entered 2026 with a stronger capital structure, supported by debt refinancing and a new $60 million credit facility.
Financial highlights
Full-year 2025 revenue was $71.6 million, up 11% from 2024; Q4 revenue was $17.6 million, down from $18.4 million in Q4 2024.
Full-year gross margin was 82.1%, with Q4 gross margin at 81.2%, both impacted by product mix and inventory reserves.
Net loss for 2025 improved to $48.6 million from $61.8 million in 2024; Q4 net loss was $11.6 million.
Q4 operating expenses were $24.7 million, down 5% year-over-year; full-year operating expenses totaled $101.4 million, down 9%.
Cash and marketable securities at year-end were $18.2 million, with net cash use improving for the third consecutive quarter.
Outlook and guidance
2026 revenue guidance is $80–$85 million, representing 12–19% growth over 2025, driven by normalization of RECELL utilization and expanded use of Cohealyx and PermeaDerm.
Expect gradual acceleration in revenue throughout 2026, with growth primarily from increased utilization within existing accounts.
Financial priorities for 2026 include disciplined cost control, scalable cost structure, and continued cash efficiency.
Company expects improved operating profit as product mix shifts and operating expenses remain stable.
Status of 7th MAC payment rate publication?
Expected Cohealyx/PermeaDerm contribution to 2026?
Path to cash flow breakeven in 2026?
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Next AVITA Medical earnings date
Status update18 Feb, 2026
AVITA Medical
Next AVITA Medical earnings date
Status update18 Feb, 2026
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Frequently asked questions
AVITA Medical Inc is a regenerative medicine company that develops and markets therapeutic solutions for skin restoration. Its primary product is a spray-on skin system used for treating burns, wounds, and dermatological conditions. The company operates in North America and internationally through partnerships and direct sales. AVITA Medical Inc is headquartered in Valencia, California, and its shares are listed on the NASDAQ.
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