NASDAQ$RCEL
AVITA Medical Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported financial results for the first quarter of 2023 and affirmed full year guidance.
AVITA Medical reported a 40% increase in total revenue to $10.6 million for the first quarter of 2023, with a gross profit margin of 84%. The company is on track for FDA submissions and approvals, and commercial revenue is expected to be in the range of $10.7 to $11.7 million for the second quarter of 2023.
- Commercial revenue increased by 40% to $10.5 million compared to $7.4 million for the same period in 2022.
- Total revenue increased by 40% to $10.6 million compared to $7.5 million for the same period in 2022.
- Gross profit margin was 84% compared to 76% in the same period in 2022.
- Expanded field sales organization from 30 to 69, working towards a goal of 70.
Headline financials
Revenue & EPS history
AVITA Medical · Revenue · Quarterly
$10.6M
Revenue by segment
AVITA Medical · $19.3M total across 2 segments · Q1 2026
- Sales Revenue$19.1M—99.0%
- Lease Revenue$187K—1.0%
Forward guidance
Commercial revenue, excluding BARDA revenue, for the second quarter 2023 is expected to be in the range of $10.7 to $11.7 million. Commercial revenue, excluding BARDA revenue, for the full year 2023, remains unchanged, and is expected to be in the range of $49 to $51 million.
Tailwinds
- Expect FDA approval for soft tissue repair indication in June 2023 followed by the commercial launch on July 1, 2023
- Anticipate FDA submission of RECELL GO by June 30, 2023
- Expect FDA approval for vitiligo indication in June 2023
- Pursuing site of service reimbursement for the use of RECELL in the physician office setting, which is expected by 2025
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+3.8%
Avg return
Earnings day
+4.7%
Avg return
5 days after
+1.8%
Avg return
30 days after
57%
17 / 30 earnings
Positive
+36.7%
Q4 2022
Best reaction
-25.1%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.4% | -0.5% | -10.1% | |
| Q4 2025 | +11.8% | +15.9% | +18.3% | |
| Q3 2025 | +10.6% | +11.2% | +2.9% | |
| Q2 2025 | -21.2% | +7.1% | -20.8% | |
| Q1 2025 | -25.1% | -28.3% | -34.5% | |
| Q4 2024 | +20.4% | +16.4% | -2.6% | |
| Q3 2024 | -2.0% | +3.9% | +7.3% | |
| Q2 2024 | +19.6% | +20.1% | +10.5% | |
| Q1 2024 | +5.6% | +0.1% | +7.1% | |
| Q4 2023 | -1.7% | +5.2% | -9.8% | |
| Q3 2023 | +9.2% | +29.9% | +32.0% | |
| Q2 2023 | +2.5% | -2.1% | -12.0% | |
| Q1 2023 | -24.5% | -24.2% | +6.8% | |
| Q4 2022 | +36.7% | +48.2% | +41.9% | |
| Q3 2022 | +28.9% | +39.0% | +22.1% | |
| Q2 2022 | -7.1% | -8.7% | -17.8% | |
| Q1 2022 | +9.4% | +10.1% | +8.6% | |
| Q4 2021 | +17.1% | +8.2% | -5.2% | |
| Q3 2021 | +3.5% | -10.7% | -4.6% | |
| Q3 2020 | +3.5% | -10.7% | -4.6% | |
| Q2 2021 | -4.1% | -5.3% | -15.0% | |
| Q1 2021 | -5.4% | -6.4% | -9.6% | |
| Q1 2020 | -5.4% | -6.4% | -9.6% | |
| Q2 2020 | +10.2% | +5.8% | -0.8% | |
| Q3 2019 | +10.2% | +9.5% | +6.2% | |
| Q4 2020 | +10.2% | +9.5% | +6.2% | |
| Q1 2019 | +10.2% | +9.5% | +6.2% | |
| Q4 2019 | -2.5% | -1.9% | +11.4% | |
| Q4 2018 | -2.5% | -1.9% | +11.4% | |
| Q2 2019 | -2.5% | -1.9% | +11.4% |
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