AVITA Medical (RCEL) Status Update summary

Product and portfolio updates

• RECELL GO, an automated skin cell processing device, launched in June and now accounts for 75% of revenue base, with full conversion expected by year-end.

• RECELL GO Mini, designed for smaller wounds, is pending FDA approval by year-end.

• Adjacent products PermeaDerm (biosynthetic wound matrix) and CoHelix (collagen dermal scaffold) are being promoted, with CoHelix regulatory approval expected by year-end.

• PermeaDerm and CoHelix target the largest adjacent wound care segments, expanding the addressable market.

• Project Phoenix facility renovation is complete, increasing production capacity tenfold to 80,000 kits per shift.

Market expansion and strategy

• Addressable market for burn care expanded from $400 million to $1.5 billion with new products; full-thickness skin defect market opportunity exceeds $2 billion.

• International expansion underway with new Australian distributor and established partners in EU and Japan; focus on market education in 2025.

• Over 150 trauma centers now use the products, with further expansion planned.

• RECELL GO enables higher utilization and is expected to drive market penetration to 40-50% in the burn segment within 1-2 years.

Financial performance and guidance

• Q3 revenue reached $19.5 million, up 29% sequentially and 44% year-over-year.

• Full-year revenue guidance reaffirmed at $68–$70 million, with Q4 guidance of $22.3–$24.3 million, implying 19% sequential and 65% year-over-year growth.

• Gross margin expected to remain at 85–86% for the rest of the year.

• Cash and equivalents at $44.4 million; sufficient to reach profitability by Q3 2025.

• Operating expenses to remain flat, with minimal headcount increases planned.