AVITA Medical Inc RCEL

Health CareBiotechnology & Medical ResearchUnited States of America

Last close 15.41 USD on Nov 2, 2026, +346.7% year to date

Quant rating

Quant rating A Rank 10 of 565 in Health Care

Growth A 43 of 565
Valuation D 534 of 565
Quality A 84 of 565
Revisions A 49 of 565
Momentum A 7 of 565

Wall Street consensus Buy (2.50)Average target 13.67 USD −11.3%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 477M
Enterprise value: 512M
52-week range: 3.23 – 16.87
3-year range: 3.23 – 18.31
Dividend yield: –
Beta (5 years): 2.01
Shares outstanding: 30.9M
Next earnings: Nov 6, 2026

About the company

AVITA Medical, Inc. is a therapeutic acute wound care company. The Company solutions are designed to optimize wound healing, accelerate patient recovery, and improve clinical and economic outcomes across the continuum of acute wound management. Its technologies address critical healing needs arising from burns, traumatic injuries, and surgical repairs, through a portfolio and complementary products that support wound bed preparation, definitive closure, and recovery. Its portfolio includes RECELL and two complementary wound care products, PermeaDerm and Cohealyx. Its RECELL technology platform is an autologous cell harvesting technology that enables clinicians to create a suspension of a patient's own skin cells, called Spray-On Skin, at the point of care. Its PermeaDerm is a biosynthetic wound matrix that manufactures, markets, and distributes in the United States, under multi-year agreements with Stedical.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	71.6	64.3	50.1	34.4	14.0	–
Revenue growth	11.5%	28.1%	45.7%	146.6%	−2.2%	38.1%
EPS (basic, normalized)	−1.74	−2.39	−1.40	−1.07	–	–
EPS growth	–	–	–	–	–	–
Gross margin	83.3%	86.6%	84.9%	83.5%	86.7%	85.0%
Net margin	−67.8%	−96.3%	−70.6%	−77.5%	−103.4%	−83.1%
ROE	–	−231.0%	−52.9%	−28.2%	–	−104.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	11.1
Current ratio	0.41x
Long-term debt (mil)	0
Net debt (mil)	35.5
Total equity (mil)	−27.8
Net debt / equity	−1.28x
Net debt / EBITDA	−0.88x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	71.6	+11.5%	7.2x	−40.2	+27.0%	−12.7x	−1.74	+27.2%	−8.9x
2026	86.8	+21.3%	5.9x	−20.9	+47.9%	−24.5x	−0.80	+54.3%	−19.4x
2027	105	+20.4%	4.9x	−6.7	+67.9%	−76.1x	−0.45	+43.1%	−34.1x
2028	127	+21.1%	4.0x	7.1	+205.1%	72.5x	−0.12	+73.5%	−128.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	86.8	0.0%	+5.5%	+5.6%	−0.80	0.0%	+11.2%	+7.4%
2027	105	0.0%	+6.8%	−15.2%	−0.45	0.0%	+27.9%	+38.5%
2028	127	0.0%	+3.2%	−33.9%	−0.12	0.0%	+16.3%	−117.1%

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	11.1	15.2	19.5	18.4	18.5	18.4	17.1	17.6	19.3	21.7
Sales mean (mil)	11.0	14.7	19.4	21.0	21.1	22.6	18.2	17.5	18.2	20.2
Surprise	+0.5%	+3.1%	+0.6%	−12.5%	−12.4%	−18.5%	−6.2%	+0.8%	+5.9%	+7.6%
EPS reported	−0.73	−0.60	−0.62	−0.44	−0.53	−0.38	−0.46	−0.38	−0.35	−0.25
EPS mean	−0.47	−0.52	−0.44	−0.43	−0.39	−0.25	−0.28	−0.34	−0.28	−0.29
Surprise	−54.3%	−15.8%	−42.1%	−1.6%	−37.7%	−53.2%	−62.0%	−13.1%	−25.0%	+12.8%

Peer comparison Biotechnology & Medical Research

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
RCEL AVITA Medical Inc	477M	−0.88x	−67.8%	−17.12x	−19.4x	−34.1x	−24.5x	−76.1x
KYMR Kymera Therapeutics, Inc.	10.9B	2.84x	−794.0%	6.74x	−32.1x	−24.9x	−23.7x	−18.1x
CYTK Cytokinetics, Incorporated	8.6B	0.03x	−891.6%	−49.61x	−10.2x	−13.6x	−12.1x	−16.5x
TNGX Tango Therapeutics, Inc.	3.7B	9.30x	−162.9%	3.58x	−15.4x	−13.1x	−11.1x	−8.1x
VRDN Viridian Therapeutics, Inc.	2.9B	1.45x	−483.6%	4.33x	−6.6x	−10.7x	−5.3x	−7.7x
AGIO Agios Pharmaceuticals, Inc.	1.8B	1.32x	−764.0%	1.74x	−5.3x	−8.1x	−3.1x	−4.7x
Mean		2.34x	−527.3%	−8.39x	−14.8x	−17.4x	−13.3x	−21.9x
Median		1.39x	−623.8%	2.66x	−12.8x	−13.3x	−11.6x	−12.3x

Technical analysis

1M+21.1%
3M+250.2%
1Y+298.2%
3Y+45.8%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, AVITA Medical Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	71.6	64.3	50.1	34.4	14.0	14.3
Cost of revenue	12.0	8.6	7.6	5.7	1.9	2.7
Gross profit	59.6	55.6	42.6	28.8	12.1	11.6
Selling, general & administrative expenses	79.9	91.3	65.5	45.2	19.4	49.4
Research & development	20.8	20.4	20.8	13.9	7.6	8.5
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	1.4	0.6	0.3	0.4	0.1	0.3
Other operating expenses	0	0	−1.4	−3.2	−0.6	−3.9
Operating income	−42.5	−56.6	−42.7	−27.5	−14.4	−42.7
Net interest income (expense)	−5.0	−5.4	−1.1	0	0	0
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−1.0	0.2	8.5	0.9	0	0.7
Net income before taxes	−48.6	−61.8	−35.3	−26.6	−14.4	−42.0
Provision for taxes	0	0.1	0.1	0	0	0
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−48.6	−61.8	−35.4	−26.7	−14.4	−42.0
Extraordinary items	–	–	–	–	–	–
Net income	−48.6	−61.8	−35.4	−26.7	−14.4	−42.0
EBIT, normalized	−41.1	−56.0	−42.3	−27.1	−14.3	−42.4
EBITDA, normalized	−38.9	−54.9	−41.7	−26.6	−14.0	−41.9
Basic EPS, normalized	−1.74	−2.39	−1.40	−1.07	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, AVITA Medical Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	18.2	35.9	89.1	79.3	85.2	73.6
Receivables	9.1	11.8	7.9	5.0	3.5	2.5
Total inventory	6.9	7.3	5.6	2.1	2.1	1.1
Prepaid expenses	1.3	2.0	1.4	0.9	1.1	0.8
Other current assets	0	0	0	0.1	0.2	0.3
Total current assets	35.5	57.0	104	87.5	92.1	78.4
Property, plant & equipment	11.5	13.6	4.3	2.1	2.8	3.7
Goodwill	–	–	–	–	–	–
Intangibles	5.6	5.6	0.5	0.5	0.4	0.4
Long-term investments	–	–	–	6.9	19.7	–
Note receivable	–	–	–	–	–	–
Other long-term assets	3.7	3.6	2.8	1.4	0.9	0
Total assets	56.4	79.7	112	98.3	116	82.5
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	9.0	6.3	3.8	3.0	2.7	4.3
Accrued expenses	8.7	11.4	8.9	7.2	6.1	3.3
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	43.0	–	–	–	–	0
Other current liabilities	2.0	2.5	0.5	0.5	0.4	0
Total current liabilities	62.7	20.2	13.2	10.7	9.1	7.7
Long-term debt	0	42.2	39.8	0	0	0
Minority interest	–	–	–	–	–	–
Other liabilities	10.4	12.8	9.6	2.8	2.2	2.4
Total liabilities	73.0	75.2	62.6	13.5	11.4	10.1
Shareholders' equity
Preferred stock	0	0	–	–	–	–
Common stock	0	0	0	0	0	0
Additional paid-in capital	394	368	350	340	332	259
Retained earnings (accumulated deficit)	−408	−360	−298	−263	−236	−195
Treasury stock	–	–	–	–	–	–
Other equity	−2.7	−3.3	−3.0	7.5	8.1	8.1
Total equity	−16.6	4.5	49.1	84.7	105	72.4
Total liabilities & shareholders' equity	56.4	79.7	112	98.3	116	82.5

Cash flow statement in millions of USD, fiscal years

Cash flow statement, AVITA Medical Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−48.6	−61.8	−35.4	−26.7	−14.4	−42.0
Depreciation, depletion & amortization	2.3	1.1	0.6	0.6	0.3	0.5
Deferred taxes	–	–	–	–	–	–
Non-cash items	11.6	16.5	3.3	8.2	3.9	17.5
Changes in working capital	3.4	−4.7	−6.6	−1.2	4.7	1.3
Cash from operations	−31.2	−48.9	−38.0	−19.1	−5.5	−22.7
Investing activities
Capital expenditures	−1.6	−9.2	−1.4	−0.5	−0.1	−0.8
Other investing cash flows	14.1	46.5	3.0	−18.9	−49.6	0
Cash from investing	12.5	37.4	1.6	−19.3	−49.7	−0.8
Financing activities
Financing cash flow items	−1.1	–	–	–	0	−5.1
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	16.0	3.5	40.4	0.9	0	82.1
Cash from financing	14.9	3.5	40.4	0.9	0	77.1
Foreign exchange effects	–	–	0	0	−0.1	0
Net change in cash	−3.8	−8.1	4.0	−37.5	−55.2	53.5
Free cash flow	−32.8	−58.1	−39.4	−19.5	−5.6	−23.6

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.