$RCEL

AVITA Medical, Inc.

CIK:0001762303|SEC Filings

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
Consolidated Statements of Operations - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Sales revenue	$ 21,489,000	$ 18,226,000	$ 40,553,000	$ 36,551,000
Lease revenue	213,000	192,000	400,000	381,000
Total revenues	21,702,000	18,418,000	40,953,000	36,932,000
Cost of sales	(3,935,000)	(3,469,000)	(7,458,000)	(6,303,000)
Gross profit	17,767,000	14,949,000	33,495,000	30,629,000
Operating expenses:
Sales and marketing	(13,573,000)	(14,314,000)	(26,414,000)	(29,147,000)
General and administrative	(5,971,000)	(6,666,000)	(12,032,000)	(13,057,000)
Research and development	(5,078,000)	(5,117,000)	(10,707,000)	(11,400,000)
Total operating expenses	(24,622,000)	(26,097,000)	(49,153,000)	(53,604,000)
Operating loss	(6,855,000)	(11,148,000)	(15,658,000)	(22,975,000)
Interest expense	(1,463,000)	(1,252,000)	(2,887,000)	(2,485,000)
Other income, net	688,000	2,484,000	293,000	1,693,000
Loss before income taxes	(7,630,000)	(9,916,000)	(18,252,000)	(23,767,000)
Income tax expense	(33,000)	(4,000)	(22,000)	(12,000)
Net loss	$ (7,663,000)	$ (9,920,000)	$ (18,274,000)	$ (23,779,000)
Net loss per common share:
Basic	$ (0.25)	$ (0.38)	$ (0.6)	$ (0.9)
Diluted	$ (0.25)	$ (0.38)	$ (0.6)	$ (0.9)
Weighted-average common shares:
Basic	30,749,894	26,367,548	30,645,960	26,400,366
Diluted	30,749,894	26,367,548	30,645,960	26,400,366

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025	Dec. 31, 2024
Cash flow from operating activities:
Net loss	$ (7,663,000)	$ (9,920,000)	$ (18,274,000)	$ (23,779,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Debt issuance costs			319,000
Change in fair value of loan facility			(409,000)	(155,000)
Change in fair value of warrant liabilities			601,000	(1,532,000)
Depreciation and amortization			1,232,000	1,073,000
Stock-based compensation			3,089,000	5,369,000
Non-cash lease expense			473,000	438,000
Loss on fixed asset disposal			241,000	343,000
Loss on patent disposal			2,000	6,000
Remeasurement and foreign currency transaction loss			19,000
Excess and obsolete inventory related charges	65,000	230,000	122,000	543,000
Provision for credit losses			14,000	(6,000)
Amortization of premium of marketable securities			(120,000)	(193,000)
Non-cash changes in the fair value of NQDC plan			154,000	(1,097,000)
Changes in operating assets and liabilities:
Trade and other receivables			(794,000)	1,373,000
Prepaids and other current assets			(811,000)	375,000
Inventory			1,517,000	(810,000)
Corporate-owned life insurance ("COLI") asset			187,000	406,000
Other long-term assets			17,000	(294,000)
Accounts payable and accrued expenses			(2,548,000)	901,000
Accrued wages and fringe benefits			1,008,000	(2,510,000)
Current non-qualified deferred compensation liability			496,000	(1,709,000)
Other current liabilities			430,000	(403,000)
Operating lease liability			(313,000)	(467,000)
Non-qualified deferred compensation plan liability			(203,000)	1,607,000
Contract liabilities			(17,000)	(17,000)
Net cash used in operating activities			(13,568,000)	(20,538,000)	$ (31,200,000)	$ (48,900,000)
Cash flow from investing activities:
Purchase of marketable securities			(3,937,000)	(3,460,000)
Maturities of marketable securities			10,000,000	22,000,000
Purchase of plant and equipment			(127,000)	(745,000)
Patent filing fees			(6,000)	(13,000)
Net cash provided by investing activities			5,930,000	17,782,000
Cash flow from financing activities:
Proceeds from loan facility, net of issuance costs			49,081,000
Repayment of Previous Credit Agreement			(42,984,000)
Proceeds from exercise of stock options			0	374,000
Employee stock purchase plan ("ESPP") purchases			437,000	548,000
Net cash provided by financing activities			6,534,000	922,000
Net decrease in cash and cash equivalents			(1,104,000)	(1,834,000)
Cash and cash equivalents beginning of the period			10,243,000	14,050,000	14,050,000
Cash and cash equivalents end of the period	9,139,000	$ 12,216,000	9,139,000	12,216,000	$ 10,243,000	$ 14,050,000
Supplemental Disclosure of Cash Flow Information:
Income taxes paid during the period			44,000
Interest paid during the period			2,875,000	2,479,000
Non-cash investing activities:
Capital expenditures not yet paid			11	$ 169
Non-cash financing activities:
Exercise of penny warrants			718,000
Warrant liability recognized upon issuance of loan facility			1,043,000
Reclassification of warrant liability to equity due to issuance	$ 1,290,000		$ 1,290,000

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 9,139	$ 10,243
Marketable securities	1,996	7,942
Accounts receivable, net	9,867	9,086
Prepaids and other current assets	2,105	1,293
Inventory	5,287	6,926
Total current assets	28,394	35,490
Plant and equipment, net	7,678	8,630
Operating lease right-of-use assets	2,655	2,899
Corporate-owned life insurance ("COLI") asset	3,208	3,116
Intangible assets, net	5,249	5,645
Other long-term assets	593	612
Total assets	47,777	56,392
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Accounts payable and accrued liabilities	6,423	8,959
Accrued wages and fringe benefits	8,821	7,813
Loan facility	46,659	42,984
Current non-qualified deferred compensation ("NQDC") liability	506	276
Contingent liability	3,000	0
Other current liabilities	3,305	2,645
Total current liabilities	68,714	62,677
Non-qualified deferred compensation liability	3,927	3,697
Contract liabilities	273	290
Operating lease liabilities, long term	1,822	2,135
Contingent liability, long-term	0	3,000
Warrant liabilities	879	1,243
Total liabilities	75,615	73,042
Commitments and contingencies (Note 11)
Stockholders' equity (deficit):
Common stock, $0.0001 par value per share, 200,000,000 shares authorized, 30,926,847 and 30,571,662, shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	3	3
Preferred stock, $0.0001 par value per share, 10,000,000 shares authorized, no shares issued or outstanding at June 30, 2026 and December 31, 2025	0	0
Company common stock held by the non-qualified deferred compensation plan	(625)	(1,293)
Additional paid-in capital	399,541	394,408
Accumulated other comprehensive loss	(82)	(1,367)
Accumulated deficit	(426,675)	(408,401)
Total stockholders' equity (deficit)	(27,838)	(16,650)
Total liabilities and stockholders' equity (deficit)	$ 47,777	$ 56,392