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Avita Medical (RCEL) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Avita Medical (RCEL) Q3 2026 earnings results →
Q3 2026 Revenue up 53% year over year to $26.1M · 24¢ of every $1 of revenue lost · operating margin -10.1%
Avita Medical made $26.1M in Q3 2026 (+53% Y/Y). Operating margin -10.1%, net loss $6.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $26.1M in Q3 2026, up 53% year over year and up 20% from the previous quarter.
Gross margin was 84.0%, up 2.7 points from a year earlier. Operating costs exceeded revenue by $2.6M, an operating margin of -10.1%. Operating expenses grew 7% against revenue growth of 53%. The fastest-growing cost line was Research & development (+25%). The quarter ended with a net loss of $6.2M, narrower than the previous quarter's $7.7M loss. Net interest and other expense of $3.5M was the main reason.
Operating cash flow was −$710K. Non-cash charges added back $592K of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items added $3.3M. Capital expenditures of $111K exceeded it, leaving free cash flow of −$821K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $26.1M | +53% | -10.1% | −$6.2M | −$710K |
| Q2 2026 | 10-Q | Aug 6, 2026 | $21.7M | +18% | -31.6% | −$7.7M | −$3.5M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Avita Medical
AVITA Medical is a leading therapeutic acute wound care company delivering transformative solutions designed to optimize wound healing, accelerate patient recovery, and improve clinical and economic outcomes across the continuum of acute wound management. Our technologies address critical healing needs arising from burns, traumatic injuries and surgical repairs, through a portfolio of proprietary and complementary products that support wound bed preparation, definitive closure, and recovery. Our current commercial portfolio includes RECELL ® (“RECELL”), and two complementary wound care products, PermeaDerm ® and Cohealyx ™ , which together support a comprehensive standard of care for acute wounds.
In its own words, from its 10-K, filed Feb 12, 2026.
Avita Medical against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +53% against the peers' median +5%. Operating margin: -10.1% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| RCEL Avita Medical | Q3 2026 | $26.1M | +53% | -10.1% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: Avita Medical 10-Q on SEC EDGAR · CIK 1762303 · Surgical & Medical Instruments & Apparatus
Guidance and outlook
13F: who owns RCEL and who is buying
More on RCEL
History
Every quarter: Q3 2026 results · Q2 2026 results