AVITA Medical, Inc.
- Open
- 10.10
- Day high
- 10.87
- Day low
- 10.06
- Prev close
- 10.07
- Volume
- 542K
- Mkt cap
- $333M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -12.0
- P/S
- 4.4
- Yield
- —
- Per share
- —
- ▲Insiders net buying $70K over the last 3 months (4 open-market buys, 0 sales)
- 🏛Institutions reducing (13F)
AVITA Medical, Inc. (RCEL) is a Healthcare company listed on NASDAQ. The stock is up 152% over the past year. Over the trailing 3 months, insiders filed 4 open-market buys and 0 sales (SEC Form 4).
AVITA Medical, Inc. (RCEL) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
RCEL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $-0.29 | $-0.25 | +14.6% | $21M | +7.0% |
| May 14, 2026 | $-0.35 | $-0.35 | +0.0% | $19M | +5.2% |
| Feb 12, 2026 | $-0.48 | $-0.04 | +91.4% | $18M | -31.4% |
| Nov 6, 2025 | $-0.43 | $-0.46 | -7.0% | $17M | -36.5% |
| Aug 7, 2025 | $-0.26 | $-0.38 | -46.2% | $12M | -70.1% |
| May 8, 2025 | $-0.39 | $-0.53 | -35.9% | $12M | -68.9% |
| Feb 13, 2025 | $-0.30 | $-0.44 | -46.7% | $11M | -63.9% |
| Nov 7, 2024 | $-0.42 | $-0.62 | -47.6% | $14M | -61.8% |
| Aug 8, 2024 | $-0.59 | $-0.60 | -1.7% | $10M | -31.2% |
| Feb 22, 2024 | $-0.34 | $-0.28 | +17.6% | $10M | -31.8% |
| Nov 9, 2023 | $-0.53 | $-0.34 | +35.8% | $14M | +1.6% |
| Aug 10, 2023 | $-0.34 | $-0.41 | -20.6% | $12M | +3.5% |
RCEL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 24, 2026 | O'Toole David Dofficer: CFO | Buy | 2,000 | $3.97 |
| Jun 12, 2026 | O'Toole David Dofficer: CFO | Grant | 2,000 | $3.97 |
| Jun 10, 2026 | Woody Joseph Fralindirector | Buy | 5,200 | $4.00 |
| Jun 9, 2026 | Woody Joseph Fralindirector | Buy | 5,000 | $4.20 |
| Jun 5, 2026 | Woody Joseph Fralindirector | Buy | 5,000 | $4.10 |
| Jun 4, 2026 | Woody Joseph Fralindirector | Grant | 29,446 | $3.47 |
| Jun 4, 2026 | Woody Joseph Fralindirector | Grant | 16,133 | $3.77 |
| Jun 4, 2026 | Tarnoff Michael Edirector | Grant | 26,250 | — |
| Jun 4, 2026 | Tarnoff Michael Edirector | Grant | 22,214 | — |
| Jun 4, 2026 | Tarnoff Michael Edirector | Grant | 19,063 | $5.36 |
| Jun 4, 2026 | Tarnoff Michael Edirector | Grant | 16,133 | $3.77 |
| Jun 4, 2026 | COOK JEREMY CURNOCKdirector | Grant | 22,214 | — |
| Jun 4, 2026 | COOK JEREMY CURNOCKdirector | Grant | 16,133 | $3.77 |
| Jun 4, 2026 | Crowe Suzannedirector | Grant | 22,214 | — |
| Jun 4, 2026 | Crowe Suzannedirector | Grant | 16,133 | $3.77 |
Source: RCEL SEC Form 4 filings, latest Aug 24, 2026. For informational purposes only — not investment advice.
See the full RCEL insider & 13F page →AVITA Medical, Inc. company profile
Overview
AVITA Medical, Inc. (NASDAQ:RCEL) is a commercial-stage regenerative medicine company founded in 2000 and based in Valencia, California. The company specializes in developing and commercializing innovative tissue regeneration products that harness the healing properties of a patient's own skin. Originally incorporated as AVITA Therapeutics, Inc., the company rebranded to AVITA Medical Inc. in December 2020 and went public in 2012. AVITA has evolved from a single-product company focused on burn treatment to a multi-product acute wound care company serving hospitals and medical centers across the United States, with expanding international operations in Europe, Australia, and Japan.
Business
AVITA Medical operates in the regenerative medicine sector, specifically focusing on autologous skin cell therapy - a treatment approach that uses a patient's own skin cells to heal wounds. The company's proprietary technology platform enables healthcare professionals to create a suspension of living skin cells from a small sample of the patient's healthy skin, which can then be applied to damaged areas to accelerate healing. The company's flagship product is the RECELL System, a medical device that processes a small skin biopsy (about the size of a postage stamp) to produce a spray-on skin cell suspension. This suspension contains the patient's own keratinocytes, melanocytes, and fibroblasts - the key cell types responsible for skin regeneration, pigmentation, and structural support. The RECELL technology is particularly valuable because it can treat wounds up to 80 times larger than the original skin sample, making it highly efficient for treating extensive injuries. AVITA's product portfolio has expanded significantly and now includes: 1. **RECELL System and RECELL GO** (approximately 98% of revenue): The core autologous cell therapy platform for treating acute thermal burns and full-thickness skin defects. RECELL GO, launched in 2024, offers an improved user experience with enhanced processing capabilities. 2. **RECELL GO Mini**: A smaller version designed for treating wounds less than 320 square centimeters, expected to launch in early 2025. 3. **PermeaDerm** (less than 2% of revenue): A wound care dressing product that complements the RECELL system by providing wound bed preparation. 4. **Cohealyx**: A collagen-based dermal matrix recently approved by the FDA and launching commercially in 2025, designed to provide structural support for wound healing. The company primarily serves burn centers, trauma centers, and plastic surgery departments in hospitals. AVITA estimates its total addressable market has expanded from $500 million to $3.5 billion as it has broadened from burns-only to comprehensive acute wound care, including traumatic injuries, surgical wounds, and chronic wounds.
Revenue model
AVITA Medical generates revenue primarily through direct product sales of its medical devices and consumables to hospitals and medical centers. The company employs a direct sales model in the United States, utilizing a field sales organization of approximately 108 sales representatives who target burn centers, trauma centers, and plastic surgery departments. The business model centers on selling single-use RECELL kits, which hospitals purchase and use for individual patients. Each kit is priced to generate gross margins of approximately 85-87% for RECELL products. The company also generates revenue from complementary products like PermeaDerm wound dressings (with lower margins around 50%) and the newly launched Cohealyx dermal matrix. For international markets, AVITA uses a distributor model, partnering with third-party distributors in Europe, Australia, and Japan. The company's paying customers are primarily hospitals with specialized wound care capabilities. These institutions must go through Value Analysis Committee (VAC) approval processes before adopting AVITA's products, which can take several months but typically results in ongoing usage once approved. The sales process involves clinical education, training healthcare professionals on the technology, and demonstrating cost-effectiveness compared to traditional skin grafting procedures. Several factors influence AVITA's profit margins and growth trajectory. Positive margin drivers include the high-margin nature of the RECELL technology, economies of scale in manufacturing as volumes increase, and the expansion into higher-volume markets like trauma and chronic wounds. The company's manufacturing facility upgrade ("Project Phoenix") has created 10x capacity expansion, allowing for more efficient production. Additionally, the direct-pay nature of many procedures and the potential for reduced hospital stays can improve the value proposition. Margin pressures come from the introduction of lower-margin complementary products like PermeaDerm and competitive pricing pressures in the wound care market. The company also faces reimbursement challenges, particularly for newer indications like vitiligo treatment, and must invest heavily in sales force expansion and clinical studies to support market penetration. International expansion through distributors also typically yields lower margins than direct sales.
Competitive moat
AVITA Medical's competitive moat is moderately strong but faces several vulnerability points. The company's primary moat stems from its proprietary autologous cell therapy technology protected by patents, FDA regulatory approvals that create barriers to entry, and the clinical evidence supporting superior patient outcomes compared to traditional skin grafting methods. The RECELL technology platform represents a significant technological moat, as it is the only FDA-approved device that can produce a spray-on suspension of the patient's own skin cells. This technology offers distinct advantages over traditional skin grafting, including reduced donor site morbidity, faster healing times, and the ability to treat large wound areas with minimal healthy skin harvest. The company has built clinical evidence through multiple studies demonstrating these benefits, creating switching costs for hospitals that have invested in training and protocols. However, AVITA's moat has notable limitations. The company operates in the highly competitive wound care market where large medical device companies like Johnson & Johnson, Smith & Nephew, and Integra LifeSciences have significantly greater resources and established relationships with hospitals. These competitors could potentially develop competing autologous cell therapy technologies or acquire smaller innovators in the space. The regulatory moat, while currently protective, could erode as the FDA potentially approves competing technologies. Additionally, AVITA's dependence on hospital VAC approval processes creates vulnerability to competitive products that might offer better pricing or easier adoption pathways. The company's expansion beyond its core burn treatment market into trauma and chronic wounds puts it in direct competition with well-established wound care companies that have deeper market penetration and broader product portfolios. Emerging threats include advances in regenerative medicine technologies such as 3D bioprinting, stem cell therapies, and other tissue engineering approaches that could potentially offer superior outcomes or cost-effectiveness. The company's relatively small size compared to major medical device manufacturers also limits its ability to invest in R&D at the scale of larger competitors.
Risks & safety
AVITA Medical presents a moderate to high-risk investment with limited margin of safety due to its cash burn rate and current unprofitability, though the company has outlined a path to profitability. **Cash and Liquidity Position:** - Cash and short-term investments: $14.1 million as of Q4 2024 - Free cash flow: -$58.3 million for fiscal 2024 - Operating cash flow: -$48.9 million for fiscal 2024 - Current ratio: 2.83, indicating adequate short-term liquidity - The company expects to achieve free cash flow positive in H2 2025 **Debt and Solvency:** - High debt-to-equity ratio of 10.22, though this includes significant lease obligations and deferred revenue - Total liabilities of $75.2 million against total assets of $79.7 million - Limited traditional debt burden, with most obligations being operational in nature **Valuation Metrics:** - Price-to-book ratio: 74.4 (extremely high) - Negative earnings make P/E ratio not meaningful - EV/EBITDA: -9.3 (negative due to losses) - Graham Net-Net: -1.02 (trading above net current asset value) **Other Considerations:** - Revenue growth trajectory of 29% in 2024 provides some comfort - Management guidance for GAAP profitability in Q4 2025 - Expanding total addressable market from $500M to $3.5B - Strong gross margins of 85-87% on core products indicate pricing power
Recent development
Over the past few years, AVITA Medical has undergone a significant strategic transformation from a single-product burn treatment company to a comprehensive acute wound care company. The most notable development has been the successful launch of RECELL GO in 2024, an improved version of their flagship product that received FDA approval in May 2024 and has driven approximately 75% of the revenue base to transition to this new platform. The company has aggressively expanded its product portfolio through both internal development and partnerships. In 2024, AVITA launched PermeaDerm, a wound care dressing product developed through a partnership with Stedical Medical, and received FDA approval for Cohealyx, a collagen-based dermal matrix that will launch commercially in 2025. The company is also developing RECELL GO Mini for smaller wounds, with FDA submission completed in 2024. AVITA has significantly expanded its addressable market by securing FDA approval for full-thickness skin defects beyond just burns, effectively expanding from burn centers to trauma centers and opening up treatment of traumatic injuries, surgical wounds, and chronic wounds. This regulatory expansion has increased their total addressable market from approximately $500 million to $3.5 billion in the United States alone. The company has also pursued international expansion, establishing distribution partnerships in Europe, Australia, and Japan. They are expecting CE mark approval for RECELL GO in mid-2025, which will enable broader European market access. Additionally, AVITA has been developing the vitiligo indication through clinical studies, with reimbursement discussions targeted for the future. From an operational standpoint, the company completed a major manufacturing facility upgrade called "Project Phoenix" that created 10x capacity expansion and improved engineering capabilities. They have also significantly expanded their sales organization and brought in new commercial leadership, including hiring Robin Vandenberg as Senior VP of U.S. Commercial Sales in 2024.
RCEL company profile · for informational purposes only — not investment advice.
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