AVITA Medical(US:RCEL)2025-11-06 21:30Financial Performance - Q3 2025 revenue was $17.1 million, a 13% decrease compared to $19.5 million in Q3 2024[13] - Operating expenses decreased by 24%, from $30.2 million in Q3 2024 to $23.0 million in Q3 2025[13] - Net loss improved by 18.5%, decreasing from $16.2 million in Q3 2024 to $13.2 million in Q3 2025[13] - Net cash use improved to $6.2 million in Q3 compared to $10.1 million in Q2[14] - The company raised $13.8 million through a private placement in August[16] Gross Margin - Gross margin was 81.3% in Q3 2025, a decrease of 240 bps compared to 83.7% in Q3 2024, while RECELL-only gross margin was 83.6% for the quarter[13] Market and Strategy - The company is focusing on approximately 200 key burn and trauma centers[11, 12] - The U S total addressable market (TAM) is estimated to be over $3.5 billion[11] - The company is active in approximately 90% of target sites, representing a $1.3 billion U S total addressable market, and currently serves approximately 5% of this TAM[12] Reimbursement - All seven Medicare Administrative Contractors (MACs) have published or confirmed payment rates for RECELL[7]