• Record quarterly revenue of $21.7 million
• Gross margin at 81.9%, up 70 basis points
• Cash flow breakeven expected in Q4 2026

Avita Medical Inc. reported its Q2 2026 financial results, showing a significant increase in revenue to $21.7 million, a 13% rise from Q1 2026 and a 18% increase from Q2 2025. The company's gross margin improved to 81.9%, up from 81.7% in Q1 2026 and 81.2% in Q2 2025. Operating expenses also increased by 5.8% compared to the previous year. The company expects to achieve cash flow breakeven in Q4 2026, with updated full-year revenue guidance ranging from $86 million to $89 million. RECELL utilization continues to strengthen with higher physician adoption, and the new 2027 SCSA CPT Code family is expected to streamline RECELL procedure reporting and support a national physician valuation framework.

Updated full-year 2026 revenue guidance: $86M to $89M, Q4 2026 cash flow breakeven

Avita Medical expects to achieve cash flow breakeven in Q4 2026, supported by revenue growth, high gross margins, and disciplined operating expenses.