AVITA Medical, Q3 2026 Earnings Call Transcript

AVITA Medical reported third-quarter revenue of $26.1 million, up 53% year over year, led by higher RECELL sales and continued Cohealyx growth. Management raised its 2026 revenue guidance to $92–94 million and reaffirmed its target of cash flow breakeven in Q4. Cash use fell sharply as gross margin improved to 84% and operating expenses remained flat sequentially; the company also received the final $10 million draw under its credit facility. RECELL adoption is expanding, while Cohealyx and PermeaDerm build commercial traction supported by clinical evidence. Management expects growth to continue, citing broader product use, new Medicare reimbursement rules effective January 2027, and continued cost discipline; it cautioned that Q3 revenue may have included about $1 million from seasonal factors.