AVITA Medical®, Inc | Cary Vance, Interim CEO J.P. Morgan Healthcare Conference (ASX: AVH, NASDAQ: RCEL) Forward-Looking Statements & Legal Disclaimers This presentation and the accompanying oral commentary may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are predictions and subject to significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Forward-looking stat ...

Financial Data and Key Metrics Changes - For Q1 2025, the company's commercial revenue was $18.5 million, representing a 67% increase compared to the same period in 2024 [24] - The gross profit margin for Q1 was 84.7%, down from 86.4% in the same period of 2024, primarily due to volume discounts and product mix [25] - The net loss for Q1 was $13.9 million, improving from a net loss of $18.7 million in the same period in 2024 [28] Business Line Data and Key Metrics Changes - The launch of ReCell Go Mini and Co Helix is expected to significantly contribute to revenue growth throughout 2025 [24][30] - The company has expanded its product portfolio to include ReCell Go, ReCell Go Mini, Co Helix, and Permuderm, targeting both burn and trauma centers [13][21] Market Data and Key Metrics Changes - The US addressable market for the company has expanded from approximately $500 million to over $3.5 billion annually, marking a seven-fold increase [5] - The trauma market is estimated to have approximately 270,000 cases annually in the US, which the new ReCell Go Mini product aims to address [8] Company Strategy and Development Direction - The company is focusing on acute wound care, stepping back from further commercial investment in the vitiligo indication due to uncertainty in reimbursement [20][52] - A significant shift in the commercial model has been implemented, moving from a service-oriented approach to a more focused selling-oriented approach [15][46] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, expecting to generate free cash flow in the second half of the year and achieve GAAP profitability in Q4 2025 [29][30] - The company is actively engaged in the public comment process for a proposed new technology add-on payment for ReCell, which could take effect on October 1 [20] Other Important Information - The company expects to save approximately $2.5 million per quarter in operating expenses due to recent transformations and operational efficiencies [27][29] - The annual meeting of stockholders is scheduled for June 4, encouraging participation [30] Q&A Session Summary Question: Response and performance of Co Helix during limited commercial launch - Management noted that early feedback from the limited market release of Co Helix was positive, with a notable case demonstrating faster graft readiness compared to other dermal matrices [33][34] Question: Revenue contributions from ReCell Go Mini - Management indicated that ReCell Go Mini is expected to be a material contributor to revenue, with plans to break out non-resale sales by Q3 [41][42] Question: Sales force adequacy to meet revenue targets - Management expressed confidence in the current sales force structure, which has been reconfigured to enhance selling capabilities across the product portfolio [43][46] Question: Revenue cadence expectations for the rest of the year - Management expects steady sequential growth throughout the year, with some weighting towards the back end as new product approvals are anticipated [48][49] Question: Status of the vitiligo initiative and reimbursement discussions - Management clarified that spending on the vitiligo initiative has been paused due to uncertainty in achieving reimbursement, focusing resources on acute wound care instead [52][53]