• Revenue grew 4% year-over-year to $19.3 million
• Gross margin remained strong at 82%
• Operating expenses decreased 11% driven by cost optimization efforts
• Net loss narrowed to $10.6 million, an improvement of 23% from prior year

Avita Medical Inc. (ASX: AVH) today reported its financial results for the quarter ending March 31, 2026. The company generated total revenues of $19.3 million, representing a 4% increase compared to the same period in 2025. Gross profit remained strong at $15.7 million, or 82% of total revenues. Operating expenses decreased 11% year-over-year to $24.5 million, driven by the company's ongoing cost optimization initiatives. As a result, the net loss for the quarter narrowed to $10.6 million, an improvement of 23% from the prior year period. The company ended the quarter with a cash and cash equivalents balance of $8.3 million and total assets of $51.5 million. Avita Medical continues to focus on driving revenue growth, maintaining operational efficiency, and advancing its product pipeline to deliver value for shareholders.

The company expects full-year 2026 revenue to be in the range of $85 million to $90 million, with gross margins between 80% and 82%. This guidance reflects the company's confidence in its ability to continue growing its business and improving profitability.

Avita Medical remains optimistic about its long-term growth prospects, driven by the increasing adoption of its regenerative medicine products, expanded commercial reach, and ongoing investments in research and development. The company is well-positioned to capitalize on the growing demand for innovative wound care solutions and continue delivering value to its customers and shareholders.