AVITA Medical: Pre-J.P. Morgan Update Highlights 2025 Revenue Growth, New Debt Facility, and 2026 Growth Outlook

Rhea-AI Summary

AVITA Medical (NASDAQ: RCEL) reported preliminary results and a 2026 outlook ahead of its J.P. Morgan presentation on Jan 14, 2026 at 5:15 p.m. PT. Q4 2025 revenue ~ $17.6M vs $18.4M a year earlier; FY 2025 revenue ~ $71.6M, up ~11% from $64.3M in 2024. The company secured a new five-year credit facility with Perceptive Advisors for up to $60M (initial $50M funded, $10M accordion available).

AVITA provided 2026 revenue guidance of $80–$85M (≈12%–19% growth) and disclosed TTM revenue covenants of $68.5M for Q1-2026 and $73M for FY2026, implying a required $15.4M revenue in Q1 2026. Clinical updates: Cohealyx-I fully enrolled and PermeaDerm-I >75% enrolled; data expected later in 2026.

Positive

• FY2025 revenue +11% to approximately $71.6M
• 2026 guidance of $80–$85M (≈12%–19% growth)
• $60M credit facility secured with initial $50M funded
• Cohealyx-I fully enrolled; PermeaDerm-I >75% enrolled

Negative

• TTM revenue covenants set at $68.5M (Q1) and $73M (FY2026)
• $15.4M Q1 revenue requirement to meet covenant for first quarter 2026

News Market Reaction

-3.51% 2.0x vol

4 alerts

-3.51% News Effect

-3.0% Trough Tracked

-$4M Valuation Impact

$104M Market Cap

2.0x Rel. Volume

On the day this news was published, RCEL declined 3.51%, reflecting a moderate negative market reaction. Argus tracked a trough of -3.0% from its starting point during tracking. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $4M from the company's valuation, bringing the market cap to $104M at that time. Trading volume was elevated at 2.0x the daily average, suggesting increased selling activity.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Q4 2025 net revenue: $17.6M FY 2025 revenue: $71.6M 2026 revenue outlook: $80–$85M +5 more

8 metrics

Q4 2025 net revenue $17.6M Compared to $18.4M in Q4 2024, unaudited preliminary

FY 2025 revenue $71.6M Full year 2025 vs $64.3M in 2024, ~11% increase

2026 revenue outlook $80–$85M Expected full year 2026 revenue range vs 2025 revenue

New credit facility size $60M Committed capital under five-year facility with Perceptive Advisors

Initial funding $50M Funded at closing of new credit facility

Additional availability $10M Optional draw through end of Q1 2027 under new facility

TTM revenue covenant Q1 2026 $68.5M Trailing twelve-month revenue covenant for quarter ending Mar 31, 2026

Required Q1 2026 revenue $15.4M Revenue needed based on reported first three quarters of 2025

Market Reality Check

Price: $3.93 Vol: Volume 445,711 is about 2...

high vol

$3.93 Last Close

Volume Volume 445,711 is about 2.0x the 20-day average of 222,751, indicating elevated pre-announcement interest. high

Technical Shares at $3.42 are trading below the 200-day MA of $5.45 and near the 52-week low of $3.22 (vs. high $11.25).

Peers on Argus

RCEL gained 0.59% with mixed peer moves: PROF (+2.25%) and ICAD (+3.48%) rose, w...

RCEL gained 0.59% with mixed peer moves: PROF (+2.25%) and ICAD (+3.48%) rose, while RPID (-1.6%), SERA (-0.96%), and LNSR (-0.52%) declined, suggesting a stock-specific response rather than a broad medical devices rotation.

Historical Context

5 past events · Latest: Jan 05 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 05	Board changes	Neutral	+0.0%	Board refresh with new non-executive director and chair transition.
Dec 18	Conference appearance	Positive	+3.0%	Announcement of J.P. Morgan Healthcare Conference presentation.
Nov 24	Conference appearance	Neutral	+0.0%	Piper Sandler healthcare conference participation and investor meetings.
Nov 09	Investor webinar	Positive	+5.3%	Investor webinar to review Q3 2025 results and outlook.
Nov 06	Earnings update	Negative	-2.9%	Q3 2025 results with revenue decline and lowered full-year guidance.

Pattern Detected

Recent news events (governance, conferences, earnings) have consistently seen price reactions that align with the perceived tone of the announcements.

Recent Company History

Over the past six months, AVITA Medical has focused on capital structure, governance, and investor engagement. Q3 2025 earnings on Nov 6, 2025 showed lower commercial revenue and reduced guidance, with a modest share decline. Subsequent investor outreach, including a webinar on Nov 12, 2025 and multiple conference presentations, helped support the stock, with some positive reactions. Board changes announced on Jan 5, 2026 were absorbed without a price move. Today’s 2025 preliminaries, 2026 outlook, and new debt facility extend this narrative of operational stabilization and capital structure adjustment.

Market Pulse Summary

This announcement details preliminary 2025 results, a 2026 revenue outlook of $80–$85M, and a new $6...

Analysis

This announcement details preliminary 2025 results, a 2026 revenue outlook of $80–$85M, and a new $60M credit facility with Perceptive Advisors. Full-year 2025 revenue reached $71.6M, though Q4 revenue dipped to $17.6M year over year. The facility introduces specific trailing twelve‑month revenue covenants, including $68.5M for Q1 2026 and a required $15.4M in Q1 revenue. Investors may watch upcoming 2025 earnings in February 2026 and later 2026 study readouts for confirmation of the growth trajectory.

Key Terms

credit facility, trailing twelve-month (TTM) revenue, revenue covenants, Form 8-K, +1 more

5 terms

credit facility financial

"closing of a five-year credit facility providing up to $60 million in capital"

A credit facility is a flexible loan arrangement that allows a borrower to access funds up to a set limit whenever needed, similar to a company having an overdraft option on a bank account. It matters to investors because it indicates how easily a business can secure cash when required, affecting its ability to manage expenses, invest, or respond to financial challenges.

trailing twelve-month (TTM) revenue financial

"the Company established trailing twelve-month (TTM) revenue covenants"

Trailing twelve-month (TTM) revenue is the total sales a company generated over the most recent 12 months, calculated by adding the last four quarterly results or the most recent fiscal year plus any interim quarters needed. Think of it as a rolling snapshot that smooths out seasonal peaks and troughs, helping investors see the company’s recent sales trend and compare valuation measures like price-to-sales without being skewed by a single quarter.

revenue covenants financial

"reset of our revenue covenants to levels we believe are appropriate"

Revenue covenants are rules in loan or bond contracts that require a company to produce a minimum level of income or keep revenue within specified ranges over a set period. They matter to investors because missing those income targets can trigger penalties—higher interest, forced repayment, or limits on dividends and spending—like a speed limit that, if broken, leads to fines and restrictions that can weaken a company’s value and financial flexibility.

Form 8-K regulatory

"set out in an interim report on a Form 8-K filed by the Company"

A Form 8-K is a report that companies file with the government to share important news quickly, such as changes in leadership, major business deals, or financial updates. It matters because it helps investors stay informed about significant events that could affect the company's value or stock price.

unaudited preliminary financial results financial

"announced unaudited preliminary financial results and a business update"

Unaudited preliminary financial results are early financial figures a company releases before an external auditor has checked them and before final internal adjustments are made. They matter to investors because they provide a quick, timely snapshot of recent performance—like a draft report or provisional score—that can influence trading and decisions, but may change when the numbers are finalized and formally audited.

AI-generated analysis. Not financial advice.

VALENCIA, Calif., Jan. 13, 2026 (GLOBE NEWSWIRE) -- AVITA Medical^®, Inc. (ASX: AVH, NASDAQ: RCEL), a leading therapeutic acute wound care company delivering transformative solutions, today announced unaudited preliminary financial results and a business update for the fourth quarter and fiscal year 2025. The Company also provided its preliminary outlook for fiscal year 2026, ahead of its presentation at the 44th Annual J.P. Morgan Healthcare Conference on January 14, 2026 at 5:15 p.m. Pacific Time (Thursday, January 15, 2026, at 12:15 p.m. Australian Eastern Daylight Time). The webcast can be accessed through AVITA Medical’s website at: https://ir.avitamedical.com/events-and-presentations

Preliminary financial and business update:

• Total net revenues of approximately $17.6 million in the fourth quarter of 2025, compared to $18.4 million in the fourth quarter of 2024.
• Total revenues of approximately $71.6 million for full year 2025, compared to $64.3 million for full year 2024, representing an increase of approximately 11%, within the Company’s revised revenue guidance for the year.
• Existing debt refinanced, securing up to $60 million of committed capital under a new credit facility with Perceptive Advisors to strengthen the Company’s capital structure and support long-term growth.
• Full year 2026 revenue expected in the range of approximately $80 to $85 million, representing growth of approximately 12% to 19% compared to 2025 revenue.
• Cohealyx-I study fully enrolled, and PermeaDerm-I study surpassed 75% enrollment, in December 2025; data from both clinical studies expected later in 2026.
  

“Over the past year, we have focused on strengthening the foundation of the business – stabilizing revenue, advancing our clinical pipeline, and improving financial flexibility,” said Cary Vance, Interim Chief Executive Officer of AVITA Medical. “With a strengthened balance sheet and key clinical and commercial milestones ahead, we enter 2026 positioned to shift from stabilization to execution-led growth and deliver more predictable, scaled performance.”

Closing of new credit facility with Perceptive Advisors

Today, AVITA Medical also announced the closing of a five-year credit facility providing up to $60 million in capital from Perceptive Advisors, a healthcare-focused investment firm. An initial $50 million has been funded with the option to draw an additional $10 million through the end of the first quarter 2027. The proceeds of the transaction will be used to repay the Company’s outstanding debt and support the further growth of its acute wound care portfolio.

As part of the new credit facility, the Company established trailing twelve-month (TTM) revenue covenants aligned with AVITA Medical’s current operating trajectory. As set forth in the Credit Agreement, the initial TTM revenue covenant is $68.5 million for the first quarter ending March 31, 2026, and $73 million for the full year 2026. Accordingly, based on the Company’s reported financial results for the three quarters ended December 31, 2025, the Company will be required to achieve $15.4 millon in revenue in the first quarter 2026.

“This financing represents an important step in strengthening AVITA Medical’s capital structure while preserving shareholder value, including a reset of our revenue covenants to levels we believe are appropriate and manageable based on our operating performance and forward outlook,” said David O’Toole, Chief Financial Officer of AVITA Medical. “We are pleased to partner with Perceptive Advisors, whose deep healthcare expertise and collaborative approach align well with our commitment to building a durable, growth-oriented business and our long-term vision.”

“AVITA Medical has established a differentiated position in acute wound care with a clear path to value creation through both commercial execution and clinical advancement,” said Sam Chawla, Portfolio Manager at Perceptive Advisors. “With multiple near-term catalysts, we believe the Company is well positioned to scale efficiently and progress toward sustainable profitability, and we are pleased to support the management team through this next phase of growth.”

Further details regarding the Credit Agreement and related documentation are set out in an interim report on a Form 8-K filed by the Company with the U.S. Securities and Exchange Commission on January 13, 2026.

Fourth Quarter Financial and Business Update Webcast and Conference Call Information

AVITA Medical plans to report its financial results for the fourth quarter and full year 2025 after the close of the U.S. financial markets on Thursday, February 12, 2026. A conference call and webcast are scheduled for that day at 1:30 p.m. Pacific Time (Friday, February 13, 2026, at 8:30 a.m. Australian Eastern Daylight Time) to discuss its results in further detail.

About AVITA Medical, Inc.

AVITA Medical is a leading therapeutic acute wound care company delivering transformative solutions. Our technologies are designed to optimize wound healing, effectively accelerating the time to patient recovery. At the forefront of our platform is the RECELL^® System, approved by the U.S. Food and Drug Administration for the treatment of thermal burn and trauma wounds. RECELL harnesses the healing properties of a patient’s own skin to create Spray-On Skin™ Cells, offering an innovative solution for improved clinical outcomes at the point-of-care. In the U.S., AVITA Medical also holds the rights to manufacture and exclusive rights to market, sell, and distribute PermeaDerm^®, a biosynthetic wound matrix, and the exclusive rights to market, sell, and distribute Cohealyx^®, an AVITA Medical-branded collagen-based dermal matrix.

In international markets, the RECELL System is approved to promote skin healing in a wide range of applications, including thermal burn and trauma wounds, with regulatory clearances in Europe, and excluding RECELL GO^®, in Australia and Japan.

To learn more, visit www.avitamedical.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements generally may be identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “expect,” “forecast,” “guidance,” “may,” “outlook,” “will,” and similar words or expressions, and the use of future dates. Forward-looking statements include, but are not limited to, statements relating to the timing and realization of regulatory approvals of our products; anticipated market share growth and revenue generation; failure to achieve the anticipated benefits from approval of our products; risks associated with international operations and expansion; and other business effects, including the effects of industry, as well as other economic or political conditions outside of the Company’s control. These statements are made as of the date of this release, and the Company undertakes no obligation to publicly update or revise any of these statements, except as required by law. For additional information and other important factors that may cause actual results to differ materially from forward-looking statements, please see the “Risk Factors” section of the Company’s latest Annual Report on Form 10-K and other publicly available filings for a discussion of these and other risks and uncertainties.

Investor & Media Contact:
Ben Atkins
Phone +1-805 341 1571
investor@avitamedical.com | media@avitamedical.com

Authorized for release by the Chief Financial Officer of AVITA Medical, Inc.

©2025 AVITA Medical. AVITA Medical^®, Cohealyx^®, RECELL^®, RECELL GO^®, and Spray-On Skin^TM Cells are trademarks of AVITA Medical. PermeaDerm^® is a registered trademark owned by Stedical Scientific, Inc. All other trademarks are the properties of their respective owners.

FAQ

What preliminary revenue did AVITA Medical (RCEL) report for FY2025?

AVITA reported preliminary FY2025 revenue of approximately $71.6M, up ~11% from 2024.

What is AVITA Medical’s 2026 revenue guidance and implied growth for RCEL?

The company expects $80–$85M in 2026 revenue, implying roughly 12%–19% growth over 2025.

How much financing did AVITA Medical secure and how much was initially funded?

AVITA closed a five-year credit facility for up to $60M with Perceptive Advisors, with $50M initially funded and a $10M accordion.

What revenue covenants did AVITA Medical agree to under the new credit facility?

The credit agreement sets TTM revenue covenants of $68.5M for Q1-2026 and $73M for FY2026.

How much revenue must AVITA Medical generate in Q1 2026 to meet its covenant?

Based on reported results through Dec 31, 2025, the company needs $15.4M revenue in Q1 2026 to satisfy the initial covenant.

What clinical milestones did AVITA Medical report and when is data expected?

Cohealyx-I is fully enrolled and PermeaDerm-I has surpassed 75% enrollment; data from both studies are expected later in 2026.

When and where will AVITA Medical present at the J.P. Morgan Healthcare Conference?

AVITA will present on Jan 14, 2026 at 5:15 p.m. PT with a webcast available via its investor website.