AVH Updates Expected Q4 & FY24 Revenue, FY25 Guidance
| Stock | Avita Medical Inc (AVH.ASX) |
|---|---|
| Release Time | 8 Jan 2025, 9:13 a.m. |
| Price Sensitive | Yes |
AVH Updates Expected Q4 & FY24 Revenue, FY25 Guidance
- Q4 2024 revenue expected at ~$18.4M, down from previous guidance of $22.3M-$24.3M
- FY 2024 revenue expected at ~$64.3M, down from previous guidance of $68M-$70M
- FY 2025 revenue guidance of $100M-$106M, 55%-65% growth over FY 2024
AVITA Medical, Inc. has announced an update to its fourth quarter and full-year 2024 commercial revenue guidance. For Q4 2024, the company now expects commercial revenue to be approximately $18.4 million, reflecting growth of around 30% over the same period in 2023, but down from the previously provided guidance range of $22.3 million to $24.3 million. Based on these quarterly results, AVITA expects full-year 2024 commercial revenue to be approximately $64.3 million, reflecting growth of about 29% over full year 2023, but down from the previously provided full-year 2024 revenue guidance range of $68.0 million to $70.0 million. The revision in Q4 guidance is attributed to slower-than-expected purchasing activity, with several of the company's hospital accounts adjusting their inventory levels at the end of their fiscal year, resulting in reduced purchasing during December. However, the company expects normal purchasing activity to resume in Q1 2025, with deferred purchases from Q4 rolling over. AVITA remains confident in its long-term growth trajectory as it continues to scale its business, including the ongoing integration of an expanded sales force and the launch of new products such as PermeaDerm, RECELL GO, and Cohealyx. For FY 2025, the company expects commercial revenue to be in the range of $100 to $106 million, reflecting growth of approximately 55% to 65% over the projected FY 2024 commercial revenue.
Commercial revenue for the full-year 2025 is expected to be in the range of $100 to $106 million, reflecting growth of approximately 55% to 65% over the projected full-year 2024 commercial revenue.
The company remains confident in its long-term growth trajectory as it continues to scale its business, including the ongoing integration of an expanded sales force and the launch of new products that are expected to drive long-term growth.