Second Quarter 2025 Financial and Business Update August 7, 2025 Forward-Looking Statements & Legal Disclaimers Jim Corbett Chief Executive Officer 3 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 statem ...

Core Insights - AVITA Medical's RECELL technology has been awarded "Best New Technology Solution – Surgical" at the 2025 MedTech Breakthrough Awards, highlighting its innovative approach in acute wound care [1][4] - RECELL has treated over 30,000 patients globally and is FDA-approved for thermal burn wounds and full-thickness skin defects, demonstrating significant clinical benefits such as reduced donor skin requirements and faster recovery times [2][6] - The introduction of RECELL GO enhances procedural consistency and surgical team coordination, making it suitable for high-volume burn and trauma centers [3] Company Overview - AVITA Medical specializes in therapeutic acute wound care, focusing on technologies that optimize wound healing and accelerate patient recovery [6] - The RECELL System utilizes a patient's own skin to create Spray-On Skin Cells, providing an innovative solution for improved clinical outcomes [6][7] - In addition to RECELL, AVITA holds exclusive rights to manufacture and distribute PermeaDerm and Cohealyx in the U.S., expanding its product portfolio in wound care [6] Awards and Recognition - Dr. Katie Bush, Senior Vice President of Scientific & Medical Affairs at AVITA Medical, received the 2025 Emerald Pinnacle Healthcare Award, recognizing exceptional innovation and leadership in the medical device sector [5]

Core Insights - AVITA Medical, Inc. has been recognized for its RECELLⓇ technology, winning the "Best New Technology Solution – Surgical" at the 2025 MedTech Breakthrough Awards, highlighting its innovative approach in acute wound care [1][4] Company Overview - AVITA Medical is a leading therapeutic acute wound care company focused on delivering transformative solutions, with its flagship product being the RECELL System, which is FDA-approved for treating thermal burn wounds and full-thickness skin defects [6][7] - The RECELL System utilizes a patient's own skin to create Spray-On Skin™ Cells, optimizing wound healing and accelerating recovery times [6] Product Benefits - RECELL has treated over 30,000 patients globally and requires significantly less donor skin compared to traditional grafting methods, which reduces donor-site pain and accelerates healing [2][4] - The introduction of RECELL GO enhances procedural consistency and surgical team coordination, making it suitable for high-volume burn and trauma centers [3] Recognition and Awards - In addition to the MedTech Breakthrough Award, Dr. Katie Bush, Senior Vice President of Scientific & Medical Affairs at AVITA Medical, received the 2025 Emerald Pinnacle Healthcare Award for her contributions to innovation and leadership in the medical device sector [5] Market Approvals - The RECELL System is approved for various applications in international markets, including burns and vitiligo, and has received regulatory approvals in Australia, Europe, and Japan [7]

Market Opportunity - The company is positioned for leadership in a U S market exceeding $3 5 billion[7] - The Total Addressable Market (TAM) is scaling through portfolio expansion and efficient execution[7] - The company's TAM in the burn market alone is expanding from $450 million to $1 5 billion[9] Revenue Growth - The company has demonstrated sustained revenue growth with a strong Compound Annual Growth Rate (CAGR)[11] - In 2024, the company's commercial revenue reached $64 million[12] - The company estimates a CAGR of +47% through December 30, 2025, based on the midpoint of commercial revenue guidance for FY2025[12, 13] - The company's revenue has grown significantly from $10 million in 2019 to $64 million in 2024[12] Product Portfolio - The company's multi-product strategy enables case-level revenue growth[7] - The company's acute wound portfolio includes RECELL, Cohealyx, and PermeaDerm[9] - Potential revenue per case for a two-stage procedure (10% to 20% TBSA wound) could range from approximately $28,500 to $57,000[9]

Core Insights - AVITA Medical has transitioned from a single-product company focused on burn treatment to a multi-product platform in the therapeutic acute wound care market, with a market opportunity expanding from $455 million to over $3.5 billion [3][6]. Financial Performance - For Q1 2025, AVITA Medical reported commercial revenue of $18.5 million, a 67% increase from $11.1 million in Q1 2024, driven by deeper customer penetration and new product launches [6][9]. - The gross profit margin for the quarter was 84.7%, down from 86.4% in the same period last year, primarily due to volume discounts and product mix [10]. - Total operating expenses increased to $27.5 million from $26.8 million in Q1 2024, with a notable rise in sales and marketing expenses [11]. Product Developments - The company launched RECELL GO mini in February 2025, targeting smaller wounds in U.S. trauma centers, and initiated the nationwide launch of Cohealyx on April 1, 2025 [6][9]. - AVITA Medical aims to drive adoption of RECELL GO and Cohealyx while continuing to develop clinical data for its products [7]. Future Guidance - 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]. - AVITA Medical anticipates generating free cash flow in the second half of 2025 and achieving GAAP profitability in Q4 2025 [7]. Cash Position and Liabilities - As of March 31, 2025, AVITA Medical had approximately $25.8 million in cash and marketable securities, with a waiver secured for the first quarter trailing 12-month revenue covenant [14]. - Total liabilities stood at $74.1 million, with long-term debt at $41.5 million [23].