NASDAQ$RCEL
AVITA Medical Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported financial results for the fourth quarter and full-year ended December 31, 2023.
AVITA Medical reported a 50% increase in commercial revenue to $14.1 million for the fourth quarter of 2023, with a gross profit margin of 87.3%. The company's net loss was $7.1 million, or a loss of $0.28 per share. Looking ahead, the company is focused on expanding its sales organization, launching new products, and expanding its facilities.
- Commercial revenue increased approximately 50% to $14.1 million compared to the same period in 2022
- Gross profit margin was 87.3%
- Total operating expenses for the quarter were $24.7 million
- Net loss was $7.1 million, or a loss of $0.28 per basic and diluted share
Headline financials
Revenue & EPS history
AVITA Medical · Revenue · Quarterly
$14.2M
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 for the first quarter 2024 is expected to be in the range of $14.8 to $15.6 million, reflecting growth of approximately 42% to approximately 50% over the same period in the prior year. Commercial revenue for the full-year 2024 is expected to be in the range of $78.5 to $84.5 million, reflecting growth of approximately 57% to approximately 69% over the full-year 2023. Expect to achieve cashflow break even and GAAP profitability no later than the third quarter of 2025
Tailwinds
- Expansion of the field sales organization from 70 to 108 professionals in the first quarter of 2024 to maximize our ability to capitalize on the expanded label of full-thickness skin defects
- Integrating PermeaDerm® Biosynthetic Wound Matrix into our selling portfolio; plan to launch PermeaDerm in March 2024
- Expect U.S. Food and Drug Administration Food (FDA) approval for RECELL GO with plans to commence commercial launch on May 31, 2024
- Renovating and expanding our Ventura warehouse facility; expansion will increase capacity 10-fold, ensuring efficient operations for the next five years at this location; expect final phase to be completed during the third quarter of 2024
- Expect non-U.S. sales following the launch in January 2024 of RECELL within Germany, Austria, and Switzerland
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 Q4 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% |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro