AVITA Medical (RCEL) TD Cowen 46th Annual Health Care Conference summary

Company strategy and market focus

• Focused on acute wound care in hospital-based settings, targeting 120 burn centers and 50-60 level one trauma centers in the U.S.

• Sales team of about 80, with 50+ reps dedicated to these accounts, aiming for deeper penetration and broader physician adoption.

• Three main products: RECELL (flagship), Cohealyx (collagen dermal matrix), and PermeaDerm (biosynthetic matrix), designed for use individually or in combination.

• Less than 5% overall portfolio penetration, with RECELL at about 15% in core accounts, indicating significant growth runway.

• Early international expansion in Australia, Japan, and select European countries, with recent events increasing awareness.

Product innovation and clinical benefits

• RECELL evolved from a manual to an automated device (RECELL GO and GO mini), enabling treatment of smaller wounds and improved healing.

• Cohealyx accelerates wound bed preparation for grafting, reducing time to graft compared to competitors.

• PermeaDerm provides temporary wound coverage and is also used on donor sites, offering economic and clinical advantages.

• Clinical studies for Cohealyx and PermeaDerm are ongoing, with results expected by year-end and interim data used for market education.

• Case studies demonstrate successful outcomes, including rapid healing in elderly patients and economic benefits for hospitals.

Financial performance and growth outlook

• Achieved 11% revenue growth last year despite headwinds from salesforce reconfiguration and reimbursement challenges.

• Predictable business performance established, with sequential quarterly growth expected throughout the year.

• Guidance for $80M-$85M in revenue, with growth dependent on speed of adoption and VAC approvals.

• Cost discipline maintained, with strategic reductions and steady-state expenses supporting margin stability.

• Margins expected to remain in the low 80% range, with profitability anticipated as revenue grows.