Ann: AVITA Medical Q4 2023 Investor Presentation, page-35

Here's what I'm seeing, said the blind man

EPS Consensus
On TradingView and LSEG report, EPS consensus is around (0.42) for RCEL:




Revenue

• Q1 2024: $14.8 –$15.6 million (~$1M more than Q423)
• No further significant non-cash items anticipated in 2024

Expenses

• Q423 expenses were $24.75M and included a one-off $1M settlement payment to MP
• TONE study expenses could be lower after full enrolment on 10/1/24
• Other cost reductions?
• Salesforce expansion (38)
• PermeaDerm inventory purchase ($2.5M)
• First full quarter of OrbiMed interest
• RECELL GO testing? (in-house so minor)

• RECELL GO mini testing (in-house so minor)
• RECELL GO inventory? (production in Q224)
• RECELL testing with complementary products (in-house so minor)
• Manufacturing facility expansion (completion in Q324)

= I'd be very happy if the company is able to manage expenses to keep EPS above (0.42). I'm thinking (0.48) at best.

Hopefully, we'll get some more clues within the next couple of weeks which will help with our estimates.