AVITA Medical, Inc. (RCEL) Form 10-Q — Aug 6, 2026

$RCELForm 10-QFiled Aug 6, 2026, 4:20 PM ET0001193125-26-338101Original filing

AVITA Medical reported Q2 2026 total revenue of $21.7 million, up 18% year over year, with the net loss narrowing 23% to $7.7 million ($0.25 per share) on growth from Cohealyx, RECELL GO mini, and normalized RECELL utilization. Six-month revenue rose 11% to $41.0 million while total operating expenses fell 8%, and gross margin held at 81.9%. Management disclosed substantial doubt about the company's ability to continue as a going concern over the next twelve months, citing debt repayment obligations, recurring losses, and historical negative cash flows.

Key figures

Revenue: 21702000
Total Debt: 50000000
Debt Amount: $60.0 million facility ($50.0 million drawn at issuance, $10.0 million additional available through March 31, 2027)
Revenue Yoy: 18% (Q2 YoY); 11% (six months YoY)
Total Assets: 47777000
Interest Rate: 11.5% as of June 30, 2026 (greater of SOFR or 4%, plus 7.5%)
Shares Outstanding: 30926847
Gross margin q2: 81.9%
Q2 2025 revenue: 18418000
Six month revenue: 40953000
Perceptive warrant: 650,000 shares at $3.4019 exercise price
Accumulated deficit: $426.7 million
Cohealyx q2 revenue: $1.7 million (vs $0.3 million prior year)
Barda contract value: up to $25.5 million over ten years (approx $4.0 million in access/maintenance fees)
Stockholders deficit: $27.8 million
Minimum cash covenant: $5.0 million
Ttm revenue covenants: $68.5M (Q1 2026), $69.0M (Q2 2026), $73.0M (FY 2026); in compliance as of June 30, 2026
Operating cash burn h1 2026: $13.6 million (vs $20.5 million prior year)
Regenity payment obligation: $3.0 million due on or before January 4, 2027
Stedical global amendment fee: $500,000

Price after filing

1 day: -3.5%7 days: +73.0%30 days: +141.9%

Close on the filing date to close N calendar days later (from $4.63). Historical, not a forecast.

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