AVITA Medical, Inc. (RCEL) Shareholder/Analyst Call Transcript

Good morning, everyone, and thank you for joining the AVITA Medical quarterly Australian Webinar. I am Rudi Michelson of Monsoon Communications. AVITA CFO, David O’Toole is in Australia for a Sydney-Melbourne roadshow this week and joining us from the U.S. is CEO, Cary Vance; and Vice President, Investor Relations and Corporate Communications, Ben Atkins. This webinar has been arranged so everyone has the chance to be brief, direct and ask questions on AVITA's progress. Now let me point out you can submit questions using the Q&A function, and we'll get to them after the presentation. I'll now hand over to Cary Vance to begin the presentation.

Good morning, everyone. Welcome to this second quarter briefing. It's good to be with you again. I think it's important to note that the last few quarters that I've been in Australia, we've laid out the plan for the company. We've executed to that plan, and that continues today. So, I look forward to the conversation. Next slide, please. And the next, please. So well, if you look there in Q4 of 2025, I took over in mid-October, and we talked about assessing the business, understanding it, stabilizing it, having an understanding of our customers why they buy, why they might not buy, the challenges that we have, any internal lack of efficiency and effectiveness, structurally, organizationally, and so on. So we did a number of things in Q4 to prepare us to achieve and be successful in 2026. As a result, Q1 had growth quarter-over-quarter at $19.3 million. And then this past quarter, second quarter, $21.7 million. We expect that