AVITA Medical Sees Q3 Revenue $13M-$14M Vs $12.98M Est.
Portfolio Pulse from Happy Mohamed
AVITA Medical expects its Q3 2023 revenue to be between $13M-$14M, higher than the estimated $12.98M. The company also raised its full-year 2023 commercial revenue forecast from $49-$51M to $51-$53M. The gross margin for the full year 2023 is expected to be between 83%-85%.
August 10, 2023 | 8:02 pm
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POSITIVE IMPACT
AVITA Medical's higher than expected Q3 2023 revenue and increased full-year 2023 forecast could positively impact RCEL's stock price in the short term.
AVITA Medical's raised revenue forecasts indicate strong financial performance, which could increase investor confidence and drive up the stock price of RCEL, which may be associated with AVITA Medical.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100