AVITA Medical (ASX:AVH) reported preliminary unaudited results for the fourth quarter and full year of fiscal 2025, highlighting year-on-year revenue growth, a new US$60 million debt facility, and a positive revenue outlook for 2026.
The Valencia, California-based acute wound care company said fourth-quarter net revenues were approximately US$17.6 million, down from US$18.4 million a year earlier, while full-year 2025 revenues rose about 11% to US$71.6 million from US$64.3 million in 2024, within its revised guidance.
AVITA expects fiscal 2026 revenue to range between US$80 million and US$85 million, representing growth of roughly 12% to 19% compared with 2025.
The company also announced it had refinanced its existing debt through a new five-year credit facility with healthcare-focused investor Perceptive Advisors, securing up to US$60 million in committed capital.
An initial US$50 million has been funded, with an option to draw an additional US$10 million through the end of the first quarter of 2027, with proceeds to be used to repay outstanding debt and support portfolio growth.
As part of the agreement, AVITA established trailing 12-month revenue covenants aligned with its operating trajectory, including a US$68.5 million requirement for the quarter ending March 31.
Operationally, AVITA reported progress in its clinical pipeline, with the Cohealyx-I study fully enrolled and the PermeaDerm-I study surpassing 75% enrollment by December 2025, with data from both expected later in 2026.