AVITA Medical(US:RCEL)2025-05-08 20:05Revenue and Growth - Commercial revenue for Q1 2025 was $18.5 million, representing a 67% increase from $11.1 million in Q1 2024[9] - The company expects full-year 2025 commercial revenue to be between $100 million and $106 million, reflecting a growth of approximately 55% to 65% compared to 2024[7] - Total revenues increased to $18,514 million for the three months ended March 31, 2025, compared to $11,104 million for the same period in 2024, representing a 66% growth[25] Profitability and Loss - Net loss for Q1 2025 was $13.9 million, or a loss of $0.53 per share, an improvement from a net loss of $18.7 million, or a loss of $0.73 per share, in Q1 2024[13] - Operating loss decreased to $11,827 million from $17,206 million, showing an improvement of 31%[25] - Net loss narrowed to $13,859 million, compared to a net loss of $18,658 million in the prior year, reflecting a 26% reduction[25] - Net loss per common share improved to $(0.53) from $(0.73) year-over-year[25] Expenses - Total operating expenses for Q1 2025 were $27.5 million, an increase from $26.8 million in Q1 2024, driven by higher sales and marketing expenses[11] - Total operating expenses increased to $27,508 million from $26,797 million, a rise of 2.6%[25] - Research and development expenses rose to $6,284 million, compared to $5,194 million, marking a 21% increase[25] - Sales and marketing expenses increased to $14,834 million from $12,640 million, reflecting a 17% increase[25] - Interest expense decreased to $1,233 million from $1,356 million, a reduction of 9%[25] Cash and Financial Position - As of March 31, 2025, the company had approximately $25.8 million in cash, cash equivalents, and marketable securities[14] - The company anticipates generating free cash flow in the second half of 2025 and achieving GAAP profitability in Q4 2025[7] Product Development and Launches - The company launched RECELL GO mini in February 2025 and initiated the nationwide launch of Cohealyx on April 1, 2025, expanding its product portfolio significantly[4] - The company expects to receive the CE mark for RECELL GO in the EU by mid-2025, preparing to meet supply demands upon approval[7] Gross Profit and Margin - Gross profit margin for Q1 2025 was 84.7%, down from 86.4% in the same period last year, primarily due to volume discounts and product mix[10] - Gross profit rose to $15,681 million, up from $9,591 million year-over-year, indicating a 64% increase[25] - The average sales price for Cohealyx is 50% and for PermeaDerm is 60%, which impacts the overall gross margin percentage[10] Shareholder Information - Weighted-average common shares increased to 26,253,565 from 25,637,783, indicating a 2.4% rise[25]