AVITA Medical Lifts 2026 Revenue Guidance to US$92–94 Million as Q3 Revenue Jumps 53% and Cash Use Falls to US$0.6 Million

Highlights:

• Third quarter 2026 revenue reached US$26.1 million, up 53% on a year earlier and 20% on the prior quarter.

• Full-year 2026 revenue guidance rises to US$92–94 million, the second consecutive increase.

• Quarterly net loss narrowed 53% to US$6.2 million, and cash flow breakeven is targeted for Q4 2026.

AVITA Medical (ASX: AVH) used its Third Quarter 2026 Briefing, presented in November 2026 by CEO Cary Vance and CFO David O’Toole, to report accelerating sales and sharply lower cash burn. On the ASX, the stock last traded at AU$5.120, up AU$0.169 or 3.434%.

Revenue and earnings improve

Quarterly revenue climbed to US$26.1 million from US$17.1 million a year earlier. Gross profit margin widened to 84%, up 270 basis points year on year, while operating expenses of US$24.6 million were flat on the second quarter. The net loss shrank to US$6.2 million from US$13.2 million. Cash use fell to US$0.6 million, against US$3.2 million in Q2 and US$6.2 million in Q3 2025.

Cash stood at US$10.5 million at quarter end. After the period closed, the company reached US$85 million in trailing 12-month revenue and drew the remaining US$10 million under its credit agreement with Perceptive Advisors LLC.

RECELL volumes lead the growth

US RECELL revenue rose to US$22.4 million from US$18.5 million in the second quarter, while Cohealyx grew to US$2.1 million from US$1.7 million. PermeaDerm held at US$0.6 million and international sales at US$0.9 million. Total US RECELL volume reached 3,196 units, a 20.9% increase.

Raised outlook and Medicare tailwind

Management now expects 2026 revenue of US$92–94 million, up from the earlier US$86–89 million range and implying roughly 30% growth on 2025’s US$71.6 million. A cash flow breakeven is expected in the fourth quarter.

Looking ahead, the Centers for Medicare & Medicaid Services has finalised national physician payment and simplified coding for RECELL procedures from 1 January 2027, bundling harvest, preparation and application into one code family.

Clinical evidence

In a randomised study of 40 patients across 11 US burn centres, PermeaDerm matched allograft outcomes while cutting product cost per percent of body surface treated by 70% and preparation time by 95.7%. Other data showed RECELL shortening hospital stays by 36% against split-thickness grafts, and Cohealyx reducing time to grafting to 13.6 days from 33.2. Initial RECELL GO cases have also expanded to children’s hospitals in Victoria and Queensland.

The presentation contains forward-looking statements, and this article is general information only, not financial advice.

Note: All data presented is based on information available at the time of writing.

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