AVITA Medical, Inc. Segments Disclosure
11. Reporting Segment and Geographic Information
The Company views its operations and manages its business in one reporting segment. The Company’s CODM evaluates financial information and assesses the performance of resources on a consolidated basis. Long-lived assets were primarily located in the United States as of December 31, 2025 and December 31, 2024 with an insignificant amount located in Australia and the United Kingdom.
The key measure of segment profit or loss that the CODM uses to allocate resources and in assessing performance is the Company’s consolidated net loss, as reported on the Consolidated Statements of Operations. The CODM uses net loss to monitor actual results against budgeted and prior period operating results for the purpose of evaluating operational efficiency, and to evaluate income generated from the assets in making strategic decisions on organizational resource allocation.
Revenues by region and customer location were as follows (in thousands):
|
Year Ended |
|
||||
|
December 31, 2025 |
|
December 31, 2024 |
|
||
Revenue by region: |
|
|
|
|
||
United States |
$ |
68,787 |
|
$ |
62,157 |
|
Japan |
|
2,088 |
|
|
1,431 |
|
European Union |
|
49 |
|
|
155 |
|
Australia |
|
200 |
|
|
312 |
|
United Kingdom |
|
486 |
|
|
196 |
|
Total |
$ |
71,610 |
|
$ |
64,251 |
|
Revenues by customer type were as follows (in thousands):
|
Year Ended |
|
||||
|
December 31, 2025 |
|
December 31, 2024 |
|
||
Revenue by customer type: |
|
|
|
|
||
Commercial sales |
$ |
71,438 |
|
$ |
64,023 |
|
Deferred commercial revenue recognized |
|
33 |
|
|
33 |
|
BARDA revenue for right of first access |
|
139 |
|
|
195 |
|
Total |
$ |
71,610 |
|
$ |
64,251 |
|
Commercial revenue by product were as follows (in thousands):
|
Year Ended |
|
||||
|
December 31, 2025 |
|
December 31, 2024 |
|
||
Commercial revenue by product: |
|
|
|
|
||
RECELL |
$ |
66,461 |
|
$ |
62,611 |
|
Other wound care products |
|
4,246 |
|
|
1,054 |
|
Lease revenue |
|
731 |
|
|
358 |
|
Total commercial sales |
$ |
71,438 |
|
$ |
64,023 |
|
Consolidated net loss by segment (in thousands):
|
|
Year Ended |
|
||||
|
|
December 31, 2025 |
|
December 31, 2024 |
|
||
Total revenues |
|
$ |
71,610 |
|
$ |
64,251 |
|
Purchases of inventory |
|
|
(10,939 |
) |
|
(7,861 |
) |
Other cost of sales |
|
|
(1,855 |
) |
|
(1,233 |
) |
Gross profit |
|
|
58,816 |
|
|
55,157 |
|
Operating expenses: |
|
|
|
|
|
||
Sales and marketing |
|
|
(53,138 |
) |
|
(58,195 |
) |
General and administrative |
|
|
(27,373 |
) |
|
(33,195 |
) |
Research and development |
|
|
(20,839 |
) |
|
(20,360 |
) |
Total operating expenses |
|
|
(101,350 |
) |
|
(111,750 |
) |
Operating loss |
|
|
(42,534 |
) |
|
(56,593 |
) |
Interest expense |
|
|
(5,004 |
) |
|
(5,361 |
) |
Other income, net |
|
|
(1,038 |
) |
|
163 |
|
Loss before income taxes |
|
|
(48,576 |
) |
|
(61,791 |
) |
Income tax expense |
|
|
(11 |
) |
|
(54 |
) |
Net loss |
|
$ |
(48,587 |
) |
$ |
(61,845 |
) |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 12, 2026 | Showing above |
| 2024 | Feb 13, 2025 | |
| 2023 | Feb 22, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Aug 26, 2021 | |
| 2020 | Aug 27, 2020 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.