AVITA Medical Inc
AVH: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$1.60 | Rklcd | Kgsvpbvsm |
Avita Medical: New Debt Provides Breathing Room on Path to Profitability
We maintain our AUD 5.60 fair value estimate for no-moat Avita Medical. Third-quarter 2023 commercial revenue grew 16% on the second quarter to USD 13.5 million, in line with our forecast and prior guidance. Gross margin also expanded to 84.5% versus 81% in the second quarter, largely tracking in line with our unchanged 83% full-year forecast. The firm reiterated its 2023 commercial revenue guidance of USD 51 million to USD 53 million, versus our unchanged USD 52 million forecast.