AVITA Medical (RCEL)


Market Price (8/20/2026): $10.205 | Market Cap: $313.8 MilSector: Health Care | Industry: Life Sciences Tools & Services

AVITA Medical (RCEL)


Market Price (8/20/2026): $10.205
Market Cap: $313.8 Mil
Sector: Health Care
Industry: Life Sciences Tools & Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Megatrend and thematic drivers
Megatrends include Precision Medicine, and Biotechnology & Genomics. Themes include Targeted Therapies, and Regenerative Therapies.

Trading close to highs
Dist 52W High is 0.0%

Weak multi-year price returns
2Y Excs Rtn is -26%, 3Y Excs Rtn is -115%

Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 11.1

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -35 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -47%

Stock price has recently run up significantly
6M Rtn6 month market price return is 140%, 12M Rtn12 month market price return is 112%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -34%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 169%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -18%

High stock price volatility
Vol 12M is 110%

Key risks
RCEL key risks include [1] a crippling backlog of unpaid CMS claims for its RECELL product that has severely impacted revenue, Show more.

0 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Biotechnology & Genomics. Themes include Targeted Therapies, and Regenerative Therapies.
1 Trading close to highs
Dist 52W High is 0.0%
2 Weak multi-year price returns
2Y Excs Rtn is -26%, 3Y Excs Rtn is -115%
3 Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 11.1
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -35 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -47%
5 Stock price has recently run up significantly
6M Rtn6 month market price return is 140%, 12M Rtn12 month market price return is 112%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -34%
7 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 169%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -18%
9 High stock price volatility
Vol 12M is 110%
10 Key risks
RCEL key risks include [1] a crippling backlog of unpaid CMS claims for its RECELL product that has severely impacted revenue, Show more.

RCEL in ETFs

Weight = RCEL's share of each fund

VTI0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/19/2026

AVITA Medical (RCEL) stock has gained about 140% since 4/30/2026 because of the following key factors:

1. Strong Fiscal Q2 2026 Financial Performance and Raised Full-Year Guidance.

AVITA Medical reported record net revenue of $21.7 million for fiscal Q2 2026, an 18% increase year-over-year and 13% sequentially, surpassing analyst estimates of $20.25 million. The company also beat EPS estimates, reporting a net loss of $0.25 per share against an anticipated loss of $0.29 per share. This outperformance led management to raise its full-year 2026 net revenue guidance to a range of $86 million to $89 million, up from the previous range of $80 million to $85 million, implying 20-24% growth over 2025. Furthermore, AVITA Medical announced expectations to achieve cash flow breakeven in fiscal Q4 2026, with net cash use significantly improving to approximately $3.2 million in Q2 2026 from $9.9 million in fiscal Q1 2026. This positive earnings report and upgraded outlook resulted in a significant stock surge of 63.6% following the announcement.

2. Positive PermeaDerm-I Clinical Study Results.

On August 18, 2026, AVITA Medical announced positive results from its multicenter, randomized controlled PermeaDerm-I clinical study. The study demonstrated that PermeaDerm, a biosynthetic wound matrix, achieved a 70% economic advantage over cadaveric allograft based on product cost per percent total body surface area treated, with a mean treatment cost of $148.70 for PermeaDerm compared to $497.10 for allograft. The trial also showed comparable clinical outcomes, with approximately 94% of PermeaDerm patients achieving at least 95% graft take one week following autografting, and all patients in both groups reaching 95% or greater wound healing by eight weeks. PermeaDerm also reduced preparation time by 95.7%. This favorable clinical data, highlighting cost-effectiveness and comparable efficacy, led to a 24.68% surge in the stock price.

Show more
Updated on 8/19/2026

AVITA Medical (RCEL) stock has gained about 140% since 4/30/2026 because of the following key factors:

1. Strong Fiscal Q2 2026 Financial Performance and Raised Full-Year Guidance.

AVITA Medical reported record net revenue of $21.7 million for fiscal Q2 2026, an 18% increase year-over-year and 13% sequentially, surpassing analyst estimates of $20.25 million. The company also beat EPS estimates, reporting a net loss of $0.25 per share against an anticipated loss of $0.29 per share. This outperformance led management to raise its full-year 2026 net revenue guidance to a range of $86 million to $89 million, up from the previous range of $80 million to $85 million, implying 20-24% growth over 2025. Furthermore, AVITA Medical announced expectations to achieve cash flow breakeven in fiscal Q4 2026, with net cash use significantly improving to approximately $3.2 million in Q2 2026 from $9.9 million in fiscal Q1 2026. This positive earnings report and upgraded outlook resulted in a significant stock surge of 63.6% following the announcement.

2. Positive PermeaDerm-I Clinical Study Results.

On August 18, 2026, AVITA Medical announced positive results from its multicenter, randomized controlled PermeaDerm-I clinical study. The study demonstrated that PermeaDerm, a biosynthetic wound matrix, achieved a 70% economic advantage over cadaveric allograft based on product cost per percent total body surface area treated, with a mean treatment cost of $148.70 for PermeaDerm compared to $497.10 for allograft. The trial also showed comparable clinical outcomes, with approximately 94% of PermeaDerm patients achieving at least 95% graft take one week following autografting, and all patients in both groups reaching 95% or greater wound healing by eight weeks. PermeaDerm also reduced preparation time by 95.7%. This favorable clinical data, highlighting cost-effectiveness and comparable efficacy, led to a 24.68% surge in the stock price.

3. Expanding Product Portfolio Performance and Improved Reimbursement Clarity.

AVITA Medical demonstrated strong commercial execution across its growing product portfolio. RECELL revenue grew approximately 11% sequentially in fiscal Q2 2026, with contributions from the RECELL GO mini system for smaller wounds and normalized utilization following reimbursement stabilization. The company's other products also showed momentum, with Cohealyx revenue increasing 16% sequentially and PermeaDerm revenue surging 40% sequentially in fiscal Q2 2026. Positive interim Cohealyx data, showing approximately a 20-day faster readiness for skin grafting, further strengthened the product's positioning. Additionally, the clarification of payment rates for clinician use of RECELL by all seven Medicare Administrative Contractors (MACs) supported broader and more consistent utilization. Proposed 2027 Medicare payment updates, which would establish national physician payment and increase facility payment rates for RECELL, also contributed to a positive outlook.

4. Favorable Analyst Ratings and Increased Price Targets.

Following the company's positive announcements, several brokerage firms updated their ratings and price targets, contributing to investor confidence. On August 19, 2026, TD Cowen reiterated its "Buy" rating for RCEL and raised its price target from $12.00 to $14.00, representing a 16.67% increase. Other analysts also provided positive sentiment; for example, BTIG Research raised Avita Medical from a "Neutral" to a "Buy" rating and set a $7.00 target price on August 7, 2026. The consensus average 12-month price target among analysts sits at $8.25. This increasingly positive analyst sentiment signals growing confidence in AVITA Medical's growth trajectory and market position.

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Stock Movement Drivers

Fundamental Drivers

The 139.4% change in RCEL stock from 4/30/2026 to 8/19/2026 was primarily driven by a 129.2% change in the company's P/S Multiple.
(LTM values as of)43020268192026Change
Stock Price ($)4.3210.34139.4%
Change Contribution By: 
Total Revenues ($ Mil)72765.6%
P/S Multiple1.84.2129.2%
Shares Outstanding (Mil)3031-1.1%
Cumulative Contribution139.4%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/19/2026
ReturnCorrelation
RCEL139.4% 
Market (SPY)7.0%10.0%
Sector (XLV)20.3%15.9%

Fundamental Drivers

The 134.5% change in RCEL stock from 1/31/2026 to 8/19/2026 was primarily driven by a 143.1% change in the company's P/S Multiple.
(LTM values as of)13120268192026Change
Stock Price ($)4.4110.34134.5%
Change Contribution By: 
Total Revenues ($ Mil)72764.5%
P/S Multiple1.74.2143.1%
Shares Outstanding (Mil)2831-7.7%
Cumulative Contribution134.5%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/19/2026
ReturnCorrelation
RCEL134.5% 
Market (SPY)11.4%20.4%
Sector (XLV)14.0%18.9%

Fundamental Drivers

The 95.1% change in RCEL stock from 7/31/2025 to 8/19/2026 was primarily driven by a 116.5% change in the company's P/S Multiple.
(LTM values as of)73120258192026Change
Stock Price ($)5.3010.3495.1%
Change Contribution By: 
Total Revenues ($ Mil)72765.5%
P/S Multiple1.94.2116.5%
Shares Outstanding (Mil)2631-14.6%
Cumulative Contribution95.1%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/19/2026
ReturnCorrelation
RCEL95.1% 
Market (SPY)22.7%19.2%
Sector (XLV)36.4%7.6%

Fundamental Drivers

The -48.9% change in RCEL stock from 7/31/2023 to 8/19/2026 was primarily driven by a -69.2% change in the company's P/S Multiple.
(LTM values as of)73120238192026Change
Stock Price ($)20.2510.34-48.9%
Change Contribution By: 
Total Revenues ($ Mil)3776102.0%
P/S Multiple13.64.2-69.2%
Shares Outstanding (Mil)2531-18.0%
Cumulative Contribution-48.9%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/19/2026
ReturnCorrelation
RCEL-48.9% 
Market (SPY)73.9%25.1%
Sector (XLV)37.1%15.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
RCEL Return-36%-45%108%-7%-73%186%-47%
Peers Return1%-33%52%1%-1%-2%0%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
RCEL Win Rate33%25%67%50%25%75% 
Peers Win Rate55%42%58%48%48%50% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
RCEL Max Drawdown-59%-63%-55%-58%-77%-33% 
Peers Max Drawdown-46%-50%-39%-39%-47%-41% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: IART, ORGO, MDXG, VCEL, INCY.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/19/2026 (YTD)

How Low Can It Go

EventRCELS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-48.5%-9.5%
  % Gain to Breakeven94.1%10.5%
  Time to Breakeven122 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-62.7%-24.5%
  % Gain to Breakeven168.2%32.4%
  Time to Breakeven133 days427 days
2020 COVID-19 Crash
  % Loss-63.4%-33.7%
  % Gain to Breakeven173.3%50.9%
  Time to Breakeven104 days140 days

Compare to IART, ORGO, MDXG, VCEL, INCY

In The Past

AVITA Medical's stock fell -5.1% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 5.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventRCELS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-48.5%-9.5%
  % Gain to Breakeven94.1%10.5%
  Time to Breakeven122 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-62.7%-24.5%
  % Gain to Breakeven168.2%32.4%
  Time to Breakeven133 days427 days
2020 COVID-19 Crash
  % Loss-63.4%-33.7%
  % Gain to Breakeven173.3%50.9%
  Time to Breakeven104 days140 days

Compare to IART, ORGO, MDXG, VCEL, INCY

In The Past

AVITA Medical's stock fell -5.1% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 5.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About AVITA Medical (RCEL)

AVITA Medical Inc. (RCEL) is a commercial-stage regenerative tissue company focused on developing solutions derived from a patient's own skin to address unmet medical needs. Operating in the United States, Australia, and the United Kingdom, the company targets a range of conditions including burn injuries, trauma, chronic wounds, and various dermatological and aesthetic indications like vitiligo. Its core patented and proprietary platform technology harnesses the natural regenerative properties of human skin to create innovative treatment options.

The company's flagship product is the RECELL System, a proprietary device that allows healthcare professionals to quickly prepare a suspension of "Spray-On Skin" cells using only a small sample of the patient's own healthy skin. This suspension is then applied to the wound or affected area. Currently, the RECELL System is primarily used for the treatment of acute thermal burns in patients eighteen years and older, significantly reducing the amount of donor skin required. AVITA Medical is also exploring its technology's potential through research collaborations for applications such as genetically corrected cells and cellular aging reversal, indicating a broader future scope beyond its current burn treatment focus.

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Here are 1-2 brief analogies for AVITA Medical (RCEL):

  • Align Technology (Invisalign) for regenerative skin treatments.
  • Intuitive Surgical (Da Vinci robots) for regenerative skin repair.

AI Analysis | Feedback

  • RECELL System: A device used by healthcare professionals to create a suspension of Spray-On Skin cells from a patient's own skin for treating acute thermal burns.

AI Analysis | Feedback

AVITA Medical (RCEL) sells its products, primarily the RECELL System, to various healthcare institutions and professionals who treat patients with burn injuries, trauma injuries, chronic wounds, and dermatological conditions like vitiligo. As such, the company's customers are not individual patients, but rather healthcare providers and facilities.

Given the nature of its products and sales model, AVITA Medical sells to a broad base of healthcare organizations rather than a few major public company customers that would typically be listed by name and stock symbol. Therefore, its major customers can be categorized as follows:

  1. Hospitals and Burn Centers: These institutions are the primary customers for the RECELL System, as it is used by healthcare professionals for the treatment of acute thermal burns.
  2. Trauma Centers: Expanding beyond just burns, trauma centers would utilize AVITA Medical's regenerative products for various trauma injuries requiring skin reconstruction or healing.
  3. Dermatology and Aesthetics Clinics: For indications such as vitiligo and other dermatological or aesthetic applications mentioned in the company description, specialized clinics focusing on skin conditions and cosmetic procedures would be customers.

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Cary Vance
Interim Chief Executive Officer

Cary Vance was appointed Interim Chief Executive Officer of AVITA Medical in October 2025. He has been a member of AVITA Medical's Board of Directors since 2023. Mr. Vance brings over 30 years of experience in the healthcare industry, having previously served as President and CEO of several innovative companies, including PhotoniCare, Inc., Titan Medical Inc., Optiscan Biomedical, Hansen Medical, and XCath. His career also includes various global leadership roles at Teleflex, Covidien, and GE HealthCare.

David O'Toole
Chief Financial Officer

David O'Toole was appointed Chief Financial Officer of AVITA Medical, effective June 15, 2023. He is an accomplished financial executive with over 30 years of experience in global corporate finance, capital markets, and accounting within biotech and life sciences companies. Prior to joining AVITA Medical, Mr. O'Toole served as CFO of Opiant Pharmaceuticals, a biopharmaceutical company that was acquired by Indivior PLC in March 2023. Before Opiant, he was the CFO of Soleno Therapeutics. He also held CFO roles for three other publicly traded life sciences companies prior to Soleno. Mr. O'Toole spent 24 years in public accounting, including 16 years with Deloitte & Touche.

Ben Atkins
Vice President of Investor Relations & Corporate Communications

Ben Atkins serves as the Vice President of Investor Relations & Corporate Communications for AVITA Medical. He was mentioned in this role during the company's February 2026 quarterly webinar and as an investor relations contact in January 2026 and October 2025 announcements.

AI Analysis | Feedback

Here are the key risks to AVITA Medical (RCEL):

  1. Financial Health and Going Concern: AVITA Medical has consistently experienced significant losses and anticipates continued losses in the foreseeable future. The company carries substantial debt obligations under its credit agreements, which include restrictive covenants, and failure to meet revenue targets could result in default, necessitating additional, potentially dilutive, financing. Recent reports highlight negative shareholder equity, a limited cash runway, and concerns about monthly cash burn. The company has also issued a "going concern" warning due to expected non-compliance with a minimum cash covenant under its senior secured credit facility. Despite a robust gross profit margin, high operating expenses contribute to ongoing net losses.
  2. Market Adoption and Reimbursement Challenges for the RECELL System: AVITA Medical faces challenges in achieving widespread market adoption for its RECELL System. The requirement for extensive training and certification for healthcare providers can restrict market spread by limiting the number of practitioners qualified to administer the treatment, thereby reducing patient accessibility. Furthermore, unforeseen payment problems affecting customers by the Centers for Medicare and Medicaid Services (CMS) significantly impacted sales momentum and revenue for RECELL Go in 2025, constraining demand. The cost of the RECELL System, if perceived as too high compared to alternatives, could also limit its adoption despite its proven effectiveness and long-term cost savings. Value Analysis Committee (VAC) approvals in hospitals also delay the onboarding of new accounts.
  3. Intense Competition: AVITA Medical operates within a highly competitive and innovative acute wound care market, facing challenges in maintaining its competitive edge. The regenerative medicine sector is dynamic, with existing players and new entrants continually developing advanced technologies and treatment solutions. Competitors may offer treatments that require less intensive training or are more cost-effective, potentially diminishing RECELL's market share.

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AVITA Medical Inc. operates in addressable markets primarily within the United States for its regenerative tissue products, including the RECELL System and its expanded portfolio. The company estimates its total addressable market (TAM) in the U.S. for its multi-product acute wound care portfolio, which includes RECELL, RECELL GO mini, Cohealyx, and PermeaDerm, to be over $3.5 billion annually. This expanded market opportunity covers burn, trauma, and surgical wounds. Specifically, AVITA Medical targets approximately 200 U.S. burn and trauma centers with its integrated portfolio of RECELL, Cohealyx, and PermeaDerm, representing an addressable market of roughly $1.3 billion. The RECELL GO mini is designed to address smaller wounds and is relevant for approximately 270,000 trauma cases annually in the U.S. While AVITA Medical's products are also indicated for dermatological and aesthetics indications, including vitiligo, the company announced in May 2025 that it is suspending its vitiligo efforts due to uncertainty in achieving reimbursement support. Prior to this, the global vitiligo treatment market was estimated at $1.5 billion to $1.8 billion in 2025 and projected to reach $2.5 billion by 2033. In the U.S., approximately 500,000 patients with vitiligo sought treatment in 2022. The global chronic wound care market was estimated at USD 13.8 billion in 2024 and is projected to reach USD 19.5 billion by 2033, growing at a compound annual growth rate (CAGR) of 4.11% from 2025 to 2033. The U.S. chronic wound care market represents a significant portion of this global market.

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AVITA Medical Inc. (RCEL) is anticipated to drive future revenue growth over the next 2-3 years through several key initiatives and market dynamics:

  1. Normalization of RECELL System Utilization and Improved Reimbursement Clarity: A significant factor expected to boost revenue is the fading of reimbursement uncertainties that impacted RECELL utilization in 2025. With six of the seven Medicare administrative contractors now having published payment rates for RECELL procedures, a key constraint has been removed, restoring clinician confidence and leading to an anticipated normalization of RECELL usage. This improved clarity is expected to support consistent execution and drive predictable growth.
  2. Expanded Adoption and Utilization of a Multi-Product Platform (CoHiliX and PermeaDerm): AVITA Medical is transitioning to a multi-product platform strategy, with its newer offerings, CoHiliX and PermeaDerm, expected to provide incremental contributions to revenue. These products are being used repeatedly by clinicians across various patient episodes, and their adoption within core accounts is a key commercial focus. Clinical study data for both CoHiliX and PermeaDerm are expected later in 2026, which could further drive adoption.
  3. Increased Penetration and Repeat Use within Core Burn and Trauma Centers: The company has strategically refined its commercial focus on approximately 200 core burn and trauma centers, which currently generate about 90% of its revenue. Future growth is expected to come from driving repeat utilization and multi-product adoption within these existing institutions, rather than solely from expanding to new accounts.
  4. Launch and Growth of New Products, including RECELL GO mini: The introduction of new products, such as the RECELL GO mini, is anticipated to contribute significantly to revenue growth. The RECELL GO mini is designed for smaller wounds and is addressing a substantial number of trauma cases annually in the U.S., expanding AVITA Medical's addressable market.
  5. International Market Expansion: While the U.S. remains a primary focus, AVITA Medical is also pursuing international expansion. The company has supported initial clinical use of RECELL GO in several European markets following CE Mark approval and plans a launch in Japan through a distribution partner. These international market entries are expected to contribute to overall revenue growth and market penetration.

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Capital Allocation Decisions (Last 3-5 Years)

Share Issuance

  • AVITA Medical issued common stock in lieu of a cash payment in the second quarter of 2025, as part of amending its credit terms with OrbiMed.
  • The company's number of outstanding shares increased by 7.64% in one year.

Inbound Investments

  • In January 2026, AVITA Medical closed a five-year credit facility providing up to $60 million in capital from Perceptive Advisors.
  • An initial $50 million was funded from this facility, with an option to draw an additional $10 million through the first quarter of 2027.
  • The proceeds from this new credit facility were used to repay the company's outstanding debt and to support further growth of its acute wound care portfolio.

Capital Expenditures

  • In the last 12 months (approximately for fiscal year 2025), AVITA Medical reported capital expenditures of -$1.01 million.

Better Bets vs. AVITA Medical (RCEL)

Peer Outperformance in Life Sciences Tools & Services

RCEL has outperformed 68% of its 107 Life Sciences Tools & Services peers over 5Y. Among the peers that beat it are IRTC, TWST and ADPT. Life Sciences Tools & Services ranks 8th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Life Sciences Tools & Services constituents that RCEL has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
89%
of 125 industry peers · 112.3% return
3Y
47%
of 116 industry peers · -34.7% return
5Y
68%
of 107 industry peers · -40.9% return
Life Sciences Tools & Services peers with revenue growth within 4pp of RCEL's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
RCEL AVITA Medical 23.9% -7.4x 112.3%-34.7%-40.9%
IRTC iRhythm 22.3% -294.2x -21.3%13.4%180.7% +222pp
TWST Twist Bioscience 22.4% -65.0x 416.3%631.7%41.7% +83pp
ADPT Adaptive Biotechnologies 20.2% -63.8x 102.9%309.8%-16.5% +24pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Health Care sector, ranked by 5Y. Life Sciences Tools & Services is RCEL's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 7 8.4%80.2%137.8% CAH 410% · MCK 337% · COR 180%
Health Care Services 20 19.9%44.4%9.4% HIMS 337% · RDNT 147% · DGX 75%
Managed Health Care 8 32.1%-4.0%-0.3% OSCR 138% · HQY 65% · ELV 13%
Health Care Facilities 24 8.8%-3.9%-15.3% THC 270% · NHC 261% · ENSG 126%
Health Care Equipment 51 -1.1%-6.1%-17.6% POCI 11000% · UFPT 381% · GKOS 287%
Health Care Supplies 12 38.2%-12.0%-25.7% LNTH 302% · HAE 82% · MMSI 33%
Pharmaceuticals 63 7.3%0.7%-29.1% LQDA 2808% · INDV 1373% · ETON 1294%
Life Sciences Tools & Services ← 108 -0.5%-31.3%-70.9% SNWV 1990% · ELMD 257% · MEDP 241%
Health Care Technology 20 -23.4%-53.0%-73.9% SPOK 118% · HSTM -3% · VEEV -22%
Biotechnology 366 17.1%-23.9%-76.7% BRTX 106550% · DNTH 1652% · CELZ 1500%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

RCELIARTORGOMDXGVCELINCYMedian
NameAVITA Me.Integra .Organoge.MiMedx Vericel Incyte  
Mkt Price10.3417.241.914.4543.57128.4713.79
Mkt Cap0.31.30.20.72.225.71.0
Rev LTM761,6484553553065,820405
Op Inc LTM-3566-349181,84013
FCF LTM-25122141621,89031
FCF 3Y Avg-428-6471789912
CFO LTM-24853246701,98058
CFO 3Y Avg-38997525397453

Growth & Margins

RCELIARTORGOMDXGVCELINCYMedian
NameAVITA Me.Integra .Organoge.MiMedx Vericel Incyte  
Rev Chg LTM1.0%1.6%5.9%-2.4%23.0%26.9%3.7%
Rev Chg 3Y Avg23.9%2.2%-0.1%6.6%19.8%18.5%12.6%
Rev Chg Q17.8%0.8%-57.5%-34.7%22.5%37.7%9.3%
QoQ Delta Rev Chg LTM4.5%0.2%-11.3%-8.8%4.9%8.6%2.4%
Op Inc Chg LTM24.6%514.3%-135.0%-79.8%1,428.5%85.0%54.8%
Op Inc Chg 3Y Avg-9.2%122.0%-128.3%73.0%544.7%552.7%97.5%
Op Mgn LTM-46.6%4.0%-7.5%2.5%6.0%31.6%3.2%
Op Mgn 3Y Avg-69.8%2.9%-2.8%11.0%1.6%18.3%2.2%
QoQ Delta Op Mgn LTM8.0%1.2%-8.9%-7.7%0.6%4.6%0.9%
CFO/Rev LTM-32.0%5.2%7.0%13.0%22.7%34.0%10.0%
CFO/Rev 3Y Avg-59.6%6.2%1.4%14.6%20.6%18.1%10.4%
FCF/Rev LTM-33.5%0.7%4.6%11.5%20.1%32.5%8.1%
FCF/Rev 3Y Avg-65.7%0.5%-1.4%13.4%5.3%16.5%2.9%

Valuation

RCELIARTORGOMDXGVCELINCYMedian
NameAVITA Me.Integra .Organoge.MiMedx Vericel Incyte  
Mkt Cap0.31.30.20.72.225.71.0
P/S4.20.80.51.97.34.43.0
P/Op Inc-9.020.3-7.275.1122.014.017.2
P/EBIT-8.414.5-7.266.686.513.113.8
P/E-7.4-184.0-2.9105.491.916.06.5
P/CFO-13.115.67.714.331.913.013.6
Total Yield-13.5%-0.5%-34.2%0.9%1.1%6.3%0.2%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-26.2%-0.5%-0.3%5.9%0.7%4.8%0.2%
D/E0.21.50.30.00.00.00.1
Net D/E0.11.30.1-0.2-0.0-0.20.0

Returns

RCELIARTORGOMDXGVCELINCYMedian
NameAVITA Me.Integra .Organoge.MiMedx Vericel Incyte  
1M Rtn101.2%-8.7%-27.4%2.8%-5.0%11.1%-1.1%
3M Rtn139.4%12.0%-25.1%17.4%23.1%32.3%20.2%
6M Rtn139.9%43.8%-50.3%-14.8%16.5%24.7%20.6%
12M Rtn112.3%17.4%-57.4%-38.1%20.5%50.3%18.9%
3Y Rtn-34.7%-59.3%-27.9%-40.2%33.5%100.6%-31.3%
1M Excs Rtn100.5%-12.0%-31.4%0.4%-8.2%6.8%-3.9%
3M Excs Rtn141.7%15.1%-26.2%17.4%21.5%29.6%19.5%
6M Excs Rtn127.9%31.8%-62.3%-26.8%4.5%12.7%8.6%
12M Excs Rtn66.8%3.2%-77.8%-57.6%0.4%31.8%1.8%
3Y Excs Rtn-115.1%-132.1%-100.9%-112.1%-36.2%25.2%-106.5%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
RECELL666350  
Other wound care products410  
Lease revenue100  
Biomedical Advanced Research and Development Authority (BARDA) revenue for right of first access000  
Deferred commercial revenue recognized000  
Single Segment   3414
Total7264503414


Price Behavior

Price Behavior
Market Price$10.34 
Market Cap ($ Bil)0.3 
First Trading Date10/02/2019 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$5.04$4.35
DMA Trendupup
Distance from DMA105.0%137.5%
 3M1YR
Volatility153.7%109.9%
Downside Capture-126.64172.70
Upside Capture297.82222.19
Correlation (SPY)10.7%19.7%
RCEL Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta1.070.890.851.611.631.44
Up Beta-1.430.17-0.030.390.611.31
Down Beta5.722.831.291.271.590.97
Up Capture78%41%90%254%211%201%
Bmk +ve Days11223567138427
Stock +ve Days10193056110345
Down Capture-20%31%100%183%158%112%
Bmk -ve Days11212859114326
Stock -ve Days11223166131382

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RCEL
RCEL86.8%110.4%1.00-
Sector ETF (XLV)31.1%15.8%1.518.4%
Equity (SPY)20.7%12.8%1.1919.6%
Gold (GLD)35.0%28.8%1.0418.2%
Commodities (DBC)41.4%20.2%1.60-3.1%
Real Estate (VNQ)15.3%13.9%0.7810.8%
Bitcoin (BTCUSD)-44.7%42.7%-1.2717.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RCEL
RCEL-10.8%81.7%0.21-
Sector ETF (XLV)7.6%15.1%0.3118.8%
Equity (SPY)13.1%17.2%0.5930.2%
Gold (GLD)20.4%18.6%0.8910.7%
Commodities (DBC)9.8%19.6%0.397.1%
Real Estate (VNQ)2.4%18.9%0.0323.2%
Bitcoin (BTCUSD)7.2%52.6%0.3217.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RCEL
RCEL3.8%172.4%0.39-
Sector ETF (XLV)10.8%16.7%0.5316.2%
Equity (SPY)15.2%17.9%0.7219.3%
Gold (GLD)12.5%16.2%0.635.2%
Commodities (DBC)7.9%18.1%0.356.9%
Real Estate (VNQ)4.9%20.7%0.2016.4%
Bitcoin (BTCUSD)60.0%66.0%1.007.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7312026
Short Interest: Shares Quantity2.6 Mil
Short Interest: % Change Since 7152026-0.4%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest11.1 days
Basic Shares Quantity30.7 Mil
Short % of Basic Shares8.5%

Earnings Returns History

Updated 8/17/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/202663.6%68.6% 
5/14/20264.6%2.8%-9.9%
2/12/202611.8%28.8%24.2%
11/6/202510.9%10.0%3.8%
8/7/2025-21.0%7.8%-21.7%
5/8/2025-25.3%-31.7%-34.5%
2/13/202520.4%11.0%2.8%
11/7/2024-3.6%1.5%10.5%
...
SUMMARY STATS   
# Positive151511
# Negative9912
Median Positive4.6%7.8%10.5%
Median Negative-3.6%-7.0%-14.3%
Max Positive63.6%68.6%43.9%
Max Negative-25.3%-31.7%-34.5%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/202663.6%68.6% 
5/14/20264.6%2.8%-9.9%
2/12/202611.8%28.8%24.2%
11/6/202510.9%10.0%3.8%
8/7/2025-21.0%7.8%-21.7%
5/8/2025-25.3%-31.7%-34.5%
2/13/202520.4%11.0%2.8%
11/7/2024-3.6%1.5%10.5%
8/8/202420.7%17.4%14.4%
5/13/20244.4%-2.2%6.0%
2/22/20240.5%6.6%-7.8%
11/9/202314.3%27.3%29.7%
8/10/20231.0%-11.3%-12.5%
5/12/20234.4%-5.9%36.6%
11/14/20220.9%5.6%7.0%
8/12/2022-1.9%-6.8%-8.1%
5/17/2022-4.4%-3.5%-17.0%
3/1/2022-5.8%-19.2%-19.0%
1/11/2022-0.5%-9.1%-16.0%
11/12/2021-0.1%-7.0%-25.4%
8/27/2021-1.9%1.9%-12.2%
6/17/20210.2%4.2%-8.4%
1/12/202111.6%30.7%43.9%
8/31/20201.1%5.8%0.4%
SUMMARY STATS   
# Positive151511
# Negative9912
Median Positive4.6%7.8%10.5%
Median Negative-3.6%-7.0%-14.3%
Max Positive63.6%68.6%43.9%
Max Negative-25.3%-31.7%-34.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/14/202610-Q
12/31/202502/12/202610-K
09/30/202511/06/202510-Q
06/30/202508/08/202510-Q
03/31/202505/08/202510-Q
12/31/202402/13/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/13/202410-Q
12/31/202302/22/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/11/202310-Q
12/31/202202/23/202310-K
09/30/202211/10/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/14/202610-Q
12/31/202502/12/202610-K
09/30/202511/06/202510-Q
06/30/202508/08/202510-Q
03/31/202505/08/202510-Q
12/31/202402/13/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/13/202410-Q
12/31/202302/22/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/11/202310-Q
12/31/202202/23/202310-K
09/30/202211/10/202210-Q
06/30/202208/11/202210-Q
03/31/202205/12/202210-Q
12/31/202102/28/202210-KT
09/30/202111/08/202110-Q
06/30/202108/26/202110-K
03/31/202105/13/202110-Q
12/31/202002/16/202110-Q
09/30/202011/10/202010-Q
06/30/202008/27/202010-K
03/31/202004/29/20206-K
12/31/201905/12/20206-K
06/30/201910/31/201920-F

Recent Forward Guidance

Updated 8/7/2026

Latest: Q2 2026 Earnings Reported 8/6/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue86.00 Mil87.50 Mil89.00 Mil6.1% RaisedGuidance: 82.50 Mil for 2026

Prior: Q1 2026 Earnings Reported 5/14/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue80.00 Mil82.50 Mil85.00 Mil0 AffirmedGuidance: 82.50 Mil for 2026
2026 Revenue Growth12.0%15.5%19.0% 0AffirmedGuidance: 15.5% for 2026

Q4 2025 Earnings Reported 2/12/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Revenue 15.40 Mil    
2026 Revenue80.00 Mil82.50 Mil85.00 Mil   
2026 Revenue Growth12.0%15.5%19.0%   

Q3 2025 Earnings Reported 11/6/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2025 Revenue70.00 Mil72.00 Mil74.00 Mil-8.3% LoweredGuidance: 78.50 Mil for 2025

Insider Activity

Updated 6/12/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Woody, Joseph Fralin DirectBuy61120264.005,20020,800431,844Form
2Woody, Joseph Fralin DirectBuy60920264.1910,00041,900430,569Form
3Woody, Joseph Fralin DirectBuy60520264.0910,00040,949379,847Form
4Woody, Joseph Fralin DirectBuy60320264.1910,00041,93683,873Form
5Woody, Joseph Fralin DirectBuy60320264.3010,00043,00043,000Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Woody, Joseph Fralin DirectBuy61120264.005,20020,800431,844Form
2Woody, Joseph Fralin DirectBuy60920264.1910,00041,900430,569Form
3Woody, Joseph Fralin DirectBuy60520264.0910,00040,949379,847Form
4Woody, Joseph Fralin DirectBuy60320264.1910,00041,93683,873Form
5Woody, Joseph Fralin DirectBuy60320264.3010,00043,00043,000Form
6O'Toole, David DCFODirectBuy52020264.262,0008,520621,649Form
7O'Toole, David DCFODirectBuy51920264.242,0008,480610,250Form
8O'Toole, David DCFODirectBuy31120264.781,8008,604678,411Form
9O'Toole, David DCFODirectBuy22320264.153,00012,450581,527Form
10McNamara, Robert DirectBuy82920254.5010,00045,000390,470Form
11O'Toole, David DCFODirectBuy82620254.522,0009,040143,090Form
12McNamara, Robert DirectBuy82020255.0010,00050,000383,855Form
13O'Toole, David DCFODirectBuy81220254.812,0009,620142,650Form
Core Cache Last Updated: 8/19/2026