• Commercial revenue of $18.5 million, up 67% vs Q1 2024
• Gross profit margin of 84.7%
• Launched RECELL GO mini and Cohealyx, expanding addressable market to over $3.5 billion
• Transformed commercial organization to enable scalable growth

AVITA Medical, Inc. reported financial results for the first quarter ended March 31, 2025. Commercial revenue was $18.5 million, an increase of 67% compared to the same period in 2024, driven by deeper customer account penetration, new accounts for full-thickness skin defects, and new product launches. Gross profit margin was 84.7%, with the RECELL product line maintaining a 86.4% margin. The company completed the transformation of its commercial organization, shifting from a service-oriented, case-based support structure to a focused, selling-oriented model that enables scalable execution through its multi-product platform. In February, AVITA launched the RECELL GO mini, designed to treat smaller wounds and targeted at U.S. trauma centers. On April 1, the company initiated the nationwide launch of Cohealyx, an AVITA-branded collagen-based dermal matrix. These new products have expanded AVITA's addressable U.S. market opportunity from $455 million to over $3.5 billion. The company is reaffirming its full-year 2025 guidance of $100-$106 million in commercial revenue, reflecting growth of 55-65% compared to 2024, and expects to generate free cash flow in the second half of 2025 and achieve GAAP profitability in Q4 2025.

Commercial revenue is expected to be in the range of $100 to $106 million, reflecting growth of approximately 55% to 65% compared to the full-year 2024. AVITA expects to generate free cash flow in the second half of 2025 and achieve GAAP profitability in the fourth quarter.