AVH 5.92% $2.70 avita medical inc.

Total operating expenses for the quarter were $26.8 million,...

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    Total operating expenses for the quarter were $26.8 million, compared to $19.4 million in the same period in 2023. The increase in operating expenses is primarily attributable to an increase of $6.1 million in sales and marketing expenses due to employee-related costs, including salaries and benefits, commissions, professional fees, and travel expenses, collectively, as a result of the expansion of our commercial organization to support our growing commercial operations in the second quarter of 2023. G&A expenses increased by $0.7 million as a result of higher salaries and benefits, partially offset by lower stock-based compensation. In addition, the increase in operating expenses included an increase of $0.6 million in R&D costs, which was primarily due to employee compensation costs of the team of Medical Science Liaisons.

    Other income/expense, net increased by $0.8 million of expense, compared to the same period in 2023, as we recognized $0.4 million and $0.9 million in expense for non-cash charges due to the change in fair value of the debt and the warrant liability, respectively. These expenses were offset by an increase of approximately $0.5 million in income related to our investment activities and other income.

    Net loss was $18.7 million, or a loss of $0.73 per basic and diluted share, compared to a net loss of $9.2 million, or a loss of $0.37 per basic and diluted share, in the same period in 2023.


 
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