• Delivered stable revenue performance in Q4 2025 with improved visibility
• Exited 2025 with reimbursement clarity and early signs of utilization normalizing
• Advanced post-market clinical programs for Cohealyx and PermeaDerm

AVITA Medical presented its Q4 and full-year 2025 financial and business update, showcasing the company's progress in stabilizing its revenue performance and positioning itself for growth in 2026. The key highlights include:- The business has been stabilized, and the execution phase is underway, with year-end growth sustained and a greater than 80% gross margin.- Reimbursement clarity has enabled a recovery in RECELL utilization, and the commercial model has been oriented towards organic core-account growth.- The multi-product platform is expanding revenue per patient, and improved debt terms have been aligned to the revenue outlook.- The company delivered a more stable revenue performance in Q4 2025, with improved visibility across account utilization, and exited 2025 with reimbursement clarity and early signs of utilization normalizing across core burn and trauma centers.- AVITA has advanced its post-market clinical programs for Cohealyx and PermeaDerm, with data expected in 2026.- The company has entered 2026 with an improved commercial model and capital structure to support consistent execution.

AVITA Medical provided 2026 net revenue guidance of US$80 to 85 million, representing 12% to 19% growth compared to 2025.

AVITA Medical is positioned for growth in 2026 with a stabilized business, an enhanced commercial model, and an improved capital structure to support consistent execution.