Strong Revenue Growth
AVITA Medical reported a 30% increase in commercial revenue for Q4 2024 compared to the same period in 2023, driven by the continued deployment and adoption of RECELL GO, and new accounts in trauma centers.
Portfolio Expansion and Market Potential
The launch of new products, including RECELL GO mini, PermeaDerm, and Cohealyx, expanded the total addressable market (TAM) from $500 million to $3.5 billion in the U.S. alone.
Improved Gross Profit Margin
Q4 2024 gross profit margin improved to 87.6%, slightly increasing from 87.3% in the same period of 2023.
Significant TAM Increase
The company expanded its TAM from $500 million two years ago to $3.5 billion, largely due to portfolio expansion into trauma centers.
Positive Clinical Outcomes for Cohealyx
Early clinical use of Cohealyx showed promising results, reducing hospital stays significantly, as highlighted by a case where a patient's hospital stay was reduced from a month to 1.5 weeks.