0001564590-21-045962 | 10-K | XBRL Viewer

$ 29,232

$ 14,263

$ 5,474

(5,949)

(2,973)

(1,271)

23,283

11,290

4,203

BARDA income

2,055

3,926

5,921

Operating expenses:

^[1]

(14,660)

(15,706)

(12,549)

^[1]

(22,400)

(33,025)

(15,099)

^[1]

(14,818)

(9,164)

(8,004)

(51,878)

(57,895)

(35,652)

(26,540)

(42,679)

(25,528)

Interest expense

(22)

(33)

(27)

Other income

686

332

Income tax benefit/(expense)

(26,545)

(42,026)

(25,223)

(38)

(4)

121

$ (26,583)

$ (42,030)

$ (25,102)

Net loss per common share:

$ (1.17)

$ (2.07)

$ (1.56)

$ (1.17)

$ (2.07)

$ (1.56)

Weighted-average common shares:

22,674,313

20,290,966

16,064,588

22,674,313

20,290,966

16,064,588

[1]	Refer to Note 2 for reclassification of share-based compensation expense.

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (26,583)	$ (42,030)	$ (25,102)
Other comprehensive income gain/(loss):
Foreign currency translation gain/(loss)	113	(38)	101
Comprehensive loss	$ (26,470)	$ (42,068)	$ (25,001)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Organization Consolidation And Presentation Of Financial Statements [Abstract]

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Gain (Loss)	Accumulated Deficit
Beginning Balance at Jun. 30, 2018	$ 14,032	$ 2	$ 133,673	$ 8,083	$ (127,726)
Beginning balance, shares at Jun. 30, 2018		12,773,783
Net loss	(25,102)				(25,102)
Issuance of common stock under direct placement	32,454	$ 1	32,453
Issuance of common stock under direct placement, shares		5,870,613
Issuance costs associated with direct placement	(2,934)		(2,934)
Share-based compensation	1,946		1,946
Exercise of stock options	335		335
Exercise of stock options, shares		68,600
Translation gain (loss)	101			101
Ending Balance at Jun. 30, 2019	20,832	$ 3	165,473	8,184	(152,828)
Ending Balance, shares at Jun. 30, 2019		18,712,996
Net loss	(42,030)				(42,030)
Issuance of common stock under direct placement	81,702		81,702
Issuance of common stock under direct placement, shares		2,033,898
Issuance costs associated with direct placement	(5,077)		(5,077)
Share-based compensation	16,486		16,486
Exercise of stock options	474		474
Exercise of stock options, shares		99,982
Vesting of RSU options, shares		605,183
Issuance of common stock to director in lieu of directors fees	107		107
Issuance of common stock to director in lieu of directors fees, shares		15,853
Beginning balance adjustment related to the adoption of ASC 842	(55)				(55)
Translation gain (loss)	(38)			(38)
Ending Balance at Jun. 30, 2020	72,401	$ 3	259,165	8,146	(194,913)
Ending Balance, shares at Jun. 30, 2020		21,467,912
Net loss	(26,583)				(26,583)
Issuance of common stock under direct placement	69,106		69,106
Issuance of common stock under direct placement, shares		3,214,250
Issuance costs associated with direct placement	(5,109)		(5,109)
Share-based compensation	5,664		5,664
Exercise of stock options	$ 63		63
Exercise of stock options, shares	14,359	14,359
Vesting of RSU options, shares		199,343
Translation gain (loss)	$ 113			113
Ending Balance at Jun. 30, 2021	$ 115,655	$ 3	$ 328,889	$ 8,259	$ (221,496)
Ending Balance, shares at Jun. 30, 2021		24,895,864

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Cash flow from operating activities:
Net loss	$ (26,583)	$ (42,030)	$ (25,102)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	715	465	269
Share-based compensation	5,664	16,486	1,946
Non-cash lease expense	591	502
Loss on fixed asset disposal	130	259	2
Remeasurement and foreign currency transaction loss	228	7	397
Excess and obsolete inventory related charges	226	84	89
BARDA deferred costs	343
Contract cost amortization	129
Provision for doubtful accounts	12	43	6
Issuance of common stock to directors in lieu of directors fees		107
R&D tax credit benefit			(129)
Changes in operating assets and liabilities:
Trade and other receivables	(1,399)	(729)	(1,291)
BARDA receivables	(3,580)	26	1,522
R&D tax credits		121	1,742
Prepaids and other current assets	(342)	219	(315)
Inventory	(745)	(468)	17
Operating lease liability	(594)	(476)
Other long-term assets	(889)		(4)
Accounts payable and accrued expenses	(1,333)	2,308	69
Accrued wages and fringe benefits	493	693	737
Other current liabilities	155	(366)	384
Contract liabilities	640	6	429
Other long-term liabilities	238	(4)	(18)
Net cash used in operations	(25,901)	(22,747)	(19,250)
Cash flows from investing activities:
Cash paid for property and equipment	(894)	(590)	(1,021)
Cash paid for patent filing fees	(280)	(257)	(206)
Net cash used in investing activities	(1,174)	(847)	(1,227)
Cash flow from financing activities:
Proceeds from direct placement of common stock	69,106	81,702	32,453
Issuance cost associated with direct placement	(5,109)	(5,077)	(2,934)
Principal repayment of finance lease	(11)	(42)	(62)
Proceeds from exercise of stock options	63	474	252
Net cash provided by financing activities	64,049	77,057	29,709
Effect of foreign exchange rate on cash and restricted cash	133	3	156
Net increase in cash and cash equivalents and restricted cash	37,107	53,466	9,388
Cash and cash equivalents and restricted cash beginning of the period	73,840	20,374	10,986
Cash and cash equivalents and restricted cash end of the period	110,947	73,840	20,374
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	42
Cash paid for Interest	3	42	27
Plant and equipment purchases not yet paid	$ 20	$ 85	$ 15

The Company

12 Months Ended

Jun. 30, 2021

The Company

1. The Company

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). These financial statements include the assets, liabilities, revenues and expenses of all wholly-owned subsidiaries.

Nature of the Business

The AVITA group of companies (comprising AVITA Medical, Inc. (“AVITA” or the “Company”) and its subsidiaries, including AVITA Medical Pty Limited, previously known as AVITA Medical Limited, (“AVITA Medical”)) (collectively, “AVITA Group” or “we”, “us”, or “our”) is a commercial-stage regenerative tissue company focused on the treatment of burns, trauma and other acute injuries, together with skin defects like vitiligo. The Company’s lead product is the RECELL^® System, a device that enables healthcare professionals to produce a suspension of Spray-On Skin^™ Cells using a small sample of the patient’s own skin. In September 2018, the United States Food & Drug Administration (“FDA”) granted premarket approval (“PMA”) to the RECELL System for use in the treatment of acute thermal burns in patients eighteen years and older and pediatric acute full thermal burns in 2021. Following receipt of our PMA, we commenced commercializing the RECELL System in January 2019 in the United States. In addition, the FDA has granted the Company three Investigational Device Exemptions (“IDEs”) studies which have enabled the Company to initiate pivotal clinical investigational studies to seek expanded FDA (supplementary) PMA of the RECELL System for each of soft tissue reconstruction, pediatric scalds, and vitiligo. Enrollment of those clinical studies is ongoing and, if successful, those studies would enable the Company to commence commercializing the RECELL System in the United States in each of those indications.

In March 2020, the World Health Organization declared the outbreak of a novel strain of the coronavirus (“COVID-19”) a pandemic. COVID-19 is having, and will likely continue to have, an effect on the Company’s business, results of operations, financial condition, and cash flows, and its future impacts remain highly uncertain and unpredictable. The Company has considered the disruptions caused by COVID-19, including lower than forecasted sales, delays to the speed of enrollment in the Company’s clinical trials that may, if successful, support commercial approval and new revenues in additional markets, and macroeconomic factors, that may impact its estimates. The Company has assessed the potential impact of COVID-19 on certain accounting matters including, but not limited to, the allowance for doubtful accounts, inventory reserves and return reserves, and impairment considerations for long-lived assets and intangibles, as of June 30, 2021 and through the date of this report. The Company’s business and operations have been impacted by COVID-19 as the effects of COVID-19 related travel restrictions have reduced accidents and the incidence of burns and burns admissions. With respect to future operating results, it is not possible at this time to predict, with any degree of precision, the effects of COVID-19. Consequently, actual results for accounting estimates and assumptions, particularly those relating to the recoverability of certain intangible assets and estimates of expected credit losses on accounts receivable could differ from these estimates.

Recent Developments

In July 2020, Biomedical Advanced Research and Development Authority ("BARDA") initiated the procurement of the RECELL system valued at $7.6 million as part of the U.S. Department of Health and Human Services emergency response preparedness. As part of the contract the Company delivered 5,614 RECELL system units to BARDA. Units procured by BARDA as part of the emergency response preparedness are maintained and stored by the Company under a vendor-managed inventory arrangement (“VMI”) during the term of the contract. In addition to procurement of the product, BARDA has expanded its awarded contract to provide supplemental funding of $1.6 million to support the emergency deployment of the RECELL system for use in mass casualty or other emergency situations. As of June 30, 2021, a total of 5,614 RECELL system units have been delivered into the VMI and accepted by BARDA.

Effective December 2, 2020 (United States time), AVITA Therapeutics, Inc., changed its corporate name to AVITA Medical, Inc. after successfully filing a Certificate of Amendment of Certificate of Incorporation with the Secretary of State of Delaware. The Company’s change of name was registered with the Australian Securities and Investments Commission effective as from January 6, 2021. The Company’s common stock continues to trade on The NASDAQ Stock Exchange LLC (“NASDAQ”) under the symbol “RCEL” and its CHESS Depositary Interests (“CDIs”) continue to trade on the Australian Securities Exchange (“ASX”) under the ticker symbol, “AVH”.

Redomiciliation

On June 29, 2020, a statutory scheme of arrangement under Australian law to effect a redomiciliation of the AVITA Group from Australia to the United States of America was implemented (the “Redomiciliation”). The Redomiciliation was approved by shareholders on June 15, 2020 and approved by the Federal Court of Australia on June 22, 2020.

Pursuant to the Redomiciliation, all ordinary shares in AVITA Medical, the former parent company of the AVITA Group, were exchanged for shares of common stock in the Company. As a result, the Company became the sole shareholder of AVITA Medical and the new parent company of the AVITA Group. In conjunction with the Redomiciliation, an implicit consolidation or reverse split on a 1 for 100 basis was implemented whereby shareholders of AVITA Medical received one share of common stock in the Company for every 100 shares held in AVITA Medical.

Under the Redomiciliation, eligible shareholders in AVITA Medical received consideration in the form of:

•

five CDIs in the Company for every 100 ordinary shares in AVITA Medical that were held by them; or

•

one share of common stock in the Company for every 5 ADSs in AVITA Medical that were held by them.

The Company’s CDIs are quoted on the ASX under AVITA Medical’s previous ASX ticker code, “AVH”. The Company’s shares of common stock are quoted on NASDAQ under AVITA Medical’s previous NASDAQ ticker code, “RCEL”. One share of common stock on NASDAQ is equivalent to five CDIs on the ASX.

As a result of the ‘implicit consolidation’ that occurred under the Redomiciliation, the number of shares of common stock on issue in the Company (as set out in the consolidated financial statements) is less than the number of ordinary shares issued and outstanding in AVITA Medical that was previously set out in the consolidated financial statements of AVITA Medical. All common stock amounts included in these financial statements have been retroactively reduced by a factor of one hundred and all per share amounts have been increased by a factor of one hundred, with the exception of the Company’s common stock par value.

As a result of the Redomiciliation, the reporting currency of the AVITA Group has changed from the Australian dollar to the U.S. dollar. In accordance with SEC regulation, SX Rule 320 (e), the impact of the change in the reporting currency was included in a component of other comprehensive income (loss).

Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Reclassification

Certain amounts in the prior period Consolidated Statement of Operations have been reclassified to conform to the presentation of the current period financial statements. These reclassifications had no effect on the previously reported operating expense, loss before taxes, net loss and earnings per share.

After the issuance of the consolidated financial statements for the year ended June 30, 2020, and the quarter ended September 30, 2020, the Company concluded that the presentation of share-based compensation should be reclassified to the functional expense line items consistent with cash compensation in accordance with SAB Topic 14. The Company has determined that such change in presentation of prior period amounts in the Statement of Operations is not material to the consolidated financial statements.

The Company reclassified share-based compensation expense of $16.5 million and $1.9 million to sales and marketing expense, general and administrative expense and research and development expenses as detailed in the table below for the years ended June 30, 2020 and 2019, respectively (in thousands).

	Year-ended June 30, 2020									Year-ended June 30, 2019
	As previously reported			Amount reclassified			As Reported			As previously reported			Amount reclassified			As Reported
Sales and marketing expense	$	(14,813	)	$	(893	)	$	(15,706	)	$	(12,253	)	$	(296	)	$	(12,549	)
General and administrative expense		(18,135	)		(14,890	)		(33,025	)		(13,581	)		(1,518	)		(15,099	)
Research and development expense		(8,461	)		(703	)		(9,164	)		(7,872	)		(132	)		(8,004	)
Share-based compensation		(16,486	)		16,486			-			(1,946	)		1,946			-
Total operating expenses		(57,895	)		-			(57,895	)		(35,652	)		-			(35,652	)
Operating loss		(42,679	)		-			(42,679	)		(25,528	)					(25,528	)
Loss before income taxes		(42,026	)		-			(42,026	)		(25,223	)		-			(25,223	)
Net Loss		(42,030	)		-			(42,030	)		(25,102	)		-			(25,102	)

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. As a result of the redomiciliation described above, the parent company of the AVITA group changed from AVITA Medical to the Company. All intercompany transactions and balances have been eliminated on consolidation.

Use of Estimates

The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts (including doubtful accounts, carrying value of long-lived asset, the useful lives of long-lived assets, accounting for income taxes, stock-based compensation and the stand-alone selling price for the BARDA contract) and related disclosures. Estimates have been prepared on the basis of the current and available information. However, actual results could differ from estimated amounts.

Foreign Currency Translation and Foreign Currency Transactions

The financial position and results of operations of the Company’s operating non-U.S. subsidiaries are generally determined using the respective local currency as the functional currency of that subsidiary. Assets and liabilities of these subsidiaries are translated at the exchange rate in effect at each period end. Income statement accounts are translated at the average rate of exchange prevailing during the period. Adjustments arising from the use of differing exchange rates from period to period are included in accumulated other comprehensive gain (loss) in shareholders’ equity. Gains and losses resulting from foreign currency transactions are included in general and administrative expenses and were a loss of $97,000, $7,000, and $397,000 for the year ended June 30, 2021, 2020 and 2019, respectively.

The Company’s non-operating subsidiaries that use the U.S. dollar as their functional currency remeasure monetary assets and liabilities at exchange rates in effect at the end of each period, nonmonetary assets and liabilities at historical rates. Gains and losses resulting from these remeasurements and foreign currency transactions are included in general and administrative expenses. During the year ended June 30, 2021, the Company recorded losses of $131,000. For the years ended June 30, 2020 and 2019 such amounts were not significant.

Comprehensive Income (Loss)

The components of comprehensive income (loss) consist of net income (loss) and changes in foreign currency exchange rate translation. The changes in foreign currency exchange rate translation are excluded from earnings and reported as a component of shareholders’ equity. The foreign currency translation adjustment results from those subsidiaries not using the United States dollar as their functional currency since the majority of their economic activities are primarily denominated in their applicable local currency. Accordingly, all assets and liabilities related to these operations are translated at the current exchange rates at the end of each period, whereas revenues and expenses are translated at average exchange rates in effect during the period. The resulting cumulative translation adjustments are recorded directly to the accumulated other comprehensive gain/(loss) account in shareholders’ equity.

Revenue Recognition

The Company adopted ASC Topic 606 – Revenue from Contracts with Customers, on July 1, 2018. Under Topic 606, the Company recognizes revenue when its customers obtain control of promised goods or services, in an amount that reflects the consideration which the Company expects to be entitled in exchange for those goods or services.

To determine revenue recognition for arrangements that are within the scope of Topic 606, the Company performs the following five steps:

1.	Identify the contract with a customer

2.	Identify the performance obligations

3.	Determine the transaction price

4.	Allocate the transaction price to the performance obligations

5.	Recognize revenue when/as performance obligation(s) are satisfied

In order for an arrangement to be considered a contract, it must be probable that the Company will collect the consideration to which it is entitled for goods or services to be transferred. Once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised with each contract, determines whether those are performance obligations and the related transaction price. The Company then recognizes the sale of goods based on the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied.

The Company’s revenue consists primarily of the sale of the RECELL System to hospitals or other treatment centers and to BARDA (collectively, “customers”), predominately in the United States. The Company evaluated the BARDA contract and concluded that a portion of the arrangement, such as the procurement of the RECELL system and the emergency preparedness, represents a transaction with a customer and as such are in the scope of ASC 606. Amounts received from BARDA for the research and development of the Company’s product are classified as BARDA income in the consolidated statement of operations and are accounted for under IAS 20. For further details refer to BARDA Income and Receivables below.

Revenues for commercial customers (hospitals and treatment centers) are recognized as control of the product is transferred to customers, at an amount that reflects the consideration expected to be received in exchange for the product. Revenues are recognized net of volume discounts. As such, revenue is recognized only to the extent a significant reversal of revenues is not expected to occur in subsequent periods. For the Company’s contracts that have an original duration of one year or less, the Company elected the practical expedient applicable to such contracts and does not consider the time value of money. Further, because of the short duration of these contracts, the Company has not disclosed the transaction price for the remaining performance obligations as of each reporting period or when the Company expects to recognize this revenue. The Company has further applied the practical expedient to exclude sales tax in the transaction price and expense contract fulfilment costs such as commissions and shipping and handling expenses as incurred.

For revenues related to the BARDA contract with-in the scope of ASC 606, the Company identified two performance obligations (i) the procurement of 5,614 RECELL units, (ii) emergency preparedness services. Through this contract the Company promises to procure the product through a vendor management inventory arrangement and to stand ready to provide emergency deployment services related to the product. Emergency preparedness services include procuring necessary storage containers, housing, and maintaining the containers (and product), and providing shipping and handling services in the event of an emergency situation. This stand ready obligation is a series of distinct services that are substantially the same and have the same pattern of transfer to the customer, overtime as services are consumed.

The total transaction price for the portion of the BARDA contract that is with-in the scope of ASC 606, was determined to be $9.2 million. The transaction price was allocated on a stand-alone selling price basis as follows: $7.6 million to the procurement of the RECELL product, which is classified as revenues when recognized in the consolidated statement of operations and $1.6 million to the emergency deployment services which is classified as revenues when recognized in the consolidated statement of operations. The $1.6 million for emergency deployment includes variable consideration which is deemed immaterial to the contract as a whole. The Company estimated the stand-alone selling price of the procurement of the RECELL product based on historical pricing of the Company’s product at the initial execution of the contract. The Company estimated the stand-alone selling price of the emergency deployment services performed based on the Company’s projected cost of providing the services plus an applicable profit margin as denoted in the contract.

The Company’s performance obligations are either satisfied at a point in time or over time as services are provided. The product procurement performance obligation is satisfied at a point in time, upon transfer of control of the product. As such, the related revenue for these performance obligations is recognized at a point in time as revenue within the Company’s consolidated statement of operations. In addition to guidance under ASC 606, the Company recognizes revenue from the sales of RECELL product to BARDA

for placement into vaccine stockpiles in accordance with Securities and Exchange Commission (SEC) Interpretation, Commission Guidance regarding Accounting for Sale of Vaccines and BioTerror Countermeasures to the Federal Government for Placement into the Pediatric Vaccine Stockpile or the Strategic National Stockpile (SNS). Under this guidance, revenue is recognized when product is placed in the BARDA vendor-managed inventory as control of the product has been transferred to the customer at the time of delivery to the VMI. RECELL units that have been delivered to BARDA have a product replacement obligation at no cost to BARDA due to product’s limited shelf-life. The estimated cost of the expired inventory over the term of the contract is recognized on a per unit basis at the time of delivery. The liability is released upon replacement of the product along with a corresponding reduction to inventory. The emergency preparedness services performance obligation is satisfied over time. Revenue for the emergency deployment will be recognized on a straight-line basis during the term of the contract as services are consumed over time. Services recognized are included in sales within the consolidated statement of operations. Contract costs to fulfil the performance obligations are incremental and expected to be recovered are capitalized and amortized on a straight-line basis over the term of the contract. Contract costs are included in other long-term assets.

Contract Liabilities

The Company receives payments from customers based on contractual terms. Trade receivables are recorded when the right to consideration becomes unconditional. The Company satisfies its performance obligation on product sales when the products are shipped or delivered, depending on the terms of the sale. Payment terms on invoiced amounts are typically 30-90 days, and do not include a financing component. Contract liabilities are recorded when the Company receives payment prior to satisfying its obligation to transfer goods to a customer.

Cost of Sales

Cost of sales related to products includes costs to manufacture or purchase, package, and ship the Company’s products. Costs also include relevant production overhead and depreciation and amortization. These costs are recognized when control of the product is transferred to the customer and revenue is recognized.

Income Taxes

Income taxes are accounted for using the liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income or loss in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that a portion of the deferred tax asset will not be realized. We recognize interest and penalties related to unrecognized tax benefits on the income tax expense line in the accompanying consolidated statement of operations. Accrued interest and penalties are included on the related tax liability line in the consolidated balance sheet.

The Company reviews its uncertain tax positions regularly. An uncertain tax position represents the Company’s expected treatment of a tax position taken in a filed return, or planned to be taken in a future tax return or claim that has not been reflected in measuring income tax expense for financial reporting purposes. The Company recognizes the tax benefit from an uncertain tax position when it is more-likely-than-not that the position will be sustained upon examination on the basis of the technical merits or the statute of limitations for the relevant taxing authority to examine and challenge the tax position has expired.

Cash and Cash Equivalents

Consists of cash held at deposit institutions and cash equivalents. Cash equivalents consist of short-term highly liquid investments with original maturities of three months or less from the date of purchase and consist primarily of money market funds. The Company holds cash at deposit institutions in the amount of $54.2 million and $73.6 million of which $273,000 and $466,000 is denominated in foreign currencies in foreign institutions as of June 30, 2021 and 2020, respectively. As of June 30, 2021 and 2020, the Company held cash equivalents in the amount of $56.5 million and $0, respectively.

Restricted Cash

Pursuant to a contractual agreement with American Express to maintain the business credit card, the Company must maintain restricted cash deposits which amounted to approximately $201,000 and $201,000 as of June 30, 2021 and 2020, respectively.

Concentrations

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, trade receivable, BARDA receivables and other receivables. As of June 30, 2021, and 2020, substantially all of the Company’s cash was deposited in accounts at financial institutions, and amounts may exceed federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial strength of the depository institutions in which its cash is held.

As of June 30, 2021 no single commercial customer accounted for more than 10% of total revenues or net accounts receivable. BARDA revenues for the procurement of the RECELL system accounted for approximately 26% of total revenues. As of June 30, 2020, no single commercial customer accounted for more than 10% of total revenues or net accounts receivable. As of June 30, 2019, one commercial customer accounted for approximately 10.5% of total revenues and three customers accounted for more than 10% of net accounts receivable, each representing approximately 14.6%, 10.3% and 10.1% of total net accounts receivable. BARDA receivables for the procurement of the RECELL system and emergency preparedness accounted for approximately 91% of BARDA receivables. See table below for breakdown of BARDA receivables (in thousands).

	As of June 30, 2021		As of June 30, 2020
BARDA procurement and emergency preparedness services	$	3,583	$	—
BARDA expense reimbursements		353		356
Total	$	3,936	$	356

Fair Value of Financial Instruments

The carrying values of the Company’s financial instruments, consisting of cash and cash equivalents, trade receivables, prepaids and other receivables, accounts payable, accrued liabilities and contract liabilities, approximate fair value due to the relative short-term nature of these instruments.

Accounts Receivable

Accounts receivable are recorded net of customer allowances for doubtful accounts. The Company estimates an allowance for expected credit losses (i.e., the inability of our customers to make required payments). These estimates are based on a combination of past experience and current trends. In estimating the allowance for expected credit losses, consideration is given to the current aging of receivables, a specific review for potential bad debts and an evaluation of historic write-offs. The resulting bad debt expense is included in sales and marketing expenses in the consolidated statement of operations. Receivables are written-off when deemed uncollectible. As of June 30, 2021, and 2020 the allowance for doubtful accounts was $30,000 and $18,000, respectively.

A rollforward of the activity in the Company’s allowance for doubtful account is as follows (in thousands):

	June 30,
	2021		2020			2019
Allowance for doubtful accounts at beginning of year	$	18	$	18		$	17
Bad debt expense		12		43			6
Deductions		-		(43	)		(5	)
Allowance for doubtful accounts, at end of year	$	30	$	18		$	18

BARDA Income and Receivables

The AVITA Group was awarded a BARDA grant in September 2015. Under this grant BARDA supports the Company’s research and development for the Company’s product, including the ongoing U.S. clinical regulatory program targeted towards FDA PMA, our compassionate use program, clinical and health economics research, and U.S. pediatric burn programs.

Consideration received under the BARDA grant is earned and recognized under a cost-plus-fixed-fee arrangement in which the Company is reimbursed for direct costs incurred plus allowable indirect costs and a fixed-fee earned. Billings under the contracts are based on approved provisional indirect billing rates, which permit recovery of fringe benefits, general and administrative expenses and a fixed fee.

The Company has concluded that grants under the BARDA grant are not within the scope of ASC 606, as they do not meet the definition of a contract with a “customer.” The Company has further concluded that Subtopic 958-605, Not-for-Profit-Entities-Revenue Recognition also does not apply, as the Company is a business entity and the grants are with governmental agencies or units. With respect to the BARDA grant, we considered the guidance in IAS 20, Accounting for Government Grants and Disclosure of Government Assistance, by analogy. BARDA income and related receivables are recognized when there is reasonable assurance that the grant will be received, and all attaching conditions have been complied with. When the grant relates to an expense item, the grant received is recognized as income over the period when the expense was incurred.

Inventory

Inventory is valued at the lower of cost or estimated net realizable value and is reflected in cost of sales. Costs incurred in bringing each product to its present location and condition are accounted for at purchase cost on a first-in, first-out basis (“FIFO”). The Company capitalizes inventory costs associated with the Company’s products when, based on management’s judgment, future commercialization is considered probable and the future economic benefit is expected to be realized; otherwise, such costs are expensed as research and development. Inventory is evaluated for impairment periodically to identify inventory obsolescence when an inventory item’s cost basis is in excess of its net realizable value. These adjustments are based upon multiple factors, including inventory levels, projected demand, and product shelf life.

Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and costs to complete the sale.

Leases

The Company has operating leases for corporate office space, manufacturing and warehouse facility. The Company has finance leases for equipment and furniture, which are not material to the consolidated financial statements. The Company’s operating leases have remaining lease terms of one year to three years, some of which include options to renew the lease. At contract inception, the Company determines whether the contract is a lease or contains a lease. A contract contains a lease if the Company is both able to identify an asset and can conclude it has the right to control the identified asset for a period of time. Leases with an initial term of twelve months or less are not recorded on the condensed consolidated balance sheet.

Right of use (“ROU”) assets represent the Company’s right to control an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the Company’s leases do not provide an explicit rate, the Company used its incremental borrowing rate (“IBR”) based on the information available at commencement date in determining the discount rate used to present value lease payments. In determining the IBR, the Company considered its credit rating and current market interest rates. The IBR used approximates the interest that the Company would be required to pay for a collateralized loan over a similar term. The Company’s leases typically do not include any residual value guarantees or asset retirement obligations.

The Company’s lease terms are only for periods in which it has enforceable rights. A lease is no longer enforceable when both the lessee and the lessor each have the right to terminate the lease without permission from the other party with no more than an insignificant penalty. The Company has options to renew some of these leases for three years after their expiration. The Company considers these options, which may be elected at the Company’s sole discretion, in determining the lease term on a lease-by-lease basis. Lease expense is recognized on a straight-line basis over the lease term and is primarily included in general and administrative expenses in the accompanying consolidated statements of operations.

The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease component for all underlying asset classes. Some leases require variable payments for common area maintenance, property taxes, parking, insurance and other variable costs. The variable portion of lease payments is not included in operating lease assets or liabilities. Variable lease costs are expensed when incurred.

Property, Plant and Equipment

The Company’s property, plant and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation is computed based on the straight-line method over the estimated useful lives of the various asset classes, generally three to seven years. Leasehold improvements are amortized over the shorter of the life of the related asset or the remaining term of the lease. Costs associated with customized internal-use software systems that have reached the application development stage and meet recoverability tests are capitalized and include external direct costs utilized in developing or obtaining the applications and payroll and

payroll-related expenses for employees who are directly associated with the application development. Maintenance and repairs are expensed as incurred.

Intangible Assets

The Company maintains definite-lived intangible assets related to patents initially measured at cost and amortized over estimated useful lives of approximately 3—20 years. The Company had capitalized patent costs of $700,000 and $483,000 as of June 30, 2021 and 2020, respectively, related to regulatory approval of the RECELL System, and are being amortized over their estimated useful lives.

Impairment of Long-Lived Assets

The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated, undiscounted future cash flows is less than the carrying amount of the asset, then an impairment is recognized for the amount by which the carrying value of the asset exceeds its estimated fair value. Fair value is determined using the market, income or cost approaches as appropriate for the asset. Any write-downs are treated as permanent reductions in the carrying amount of the asset and recognized as an operating loss. There were no impairments of long-lived assets in the years ended June 30, 2021, 2020 and 2019.

Sales and Marketing Expenses

Sales and marketing expenses consist primarily of compensation and employee benefits of sales and marketing personnel and related sales support teams, marketing events, advertising costs, travel, trade shows and other marketing materials. The Company expenses all selling and marketing costs as incurred. Advertising expense were $73,000, $51,000 and $186,000 for the year ended June 30, 2021, 2020 and 2019, respectively.

Research and Development Expenses

Research and development expenses represent costs incurred to develop the Company’s products. Research and development expenses consist primarily of salaries and other personnel costs, clinical trial costs, regulatory costs and manufacturing costs for non-commercial products. The Company expenses all research and development costs in the periods in which they are incurred.

Stock-Based Compensation

The Company records compensation expense for stock options based on the fair market value of the awards on the date of grant. The fair value of stock-based compensation awards is amortized over the vesting period of the award. Compensation expense for performance-based awards is measured based on the number of shares ultimately expected to vest, estimated at each reporting date based on management’s expectations regarding the relevant performance criteria, if any. The Black-Scholes option pricing model and Monte Carlo Simulation were used to estimate the fair value of the time-based and performance-based options, respectively. Under ASU 2016-09, Compensation – Stock Compensation (“ASC 718”) Improvements to Employee Share-Based Payment Accounting, the Company elected to account for forfeitures as they occur.

The following assumptions were used in the valuation of stock options.

•

Expected volatility – determined using the average of the historical volatility using daily intervals over the expected term and the derived volatility using the longest term available of 12 months.

•

Expected dividends - based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future

•

Expected term – the expected term of the Company’s stock options for tenure only vesting has been determined utilizing the “simplified” method as described in the SEC’s Staff Accounting Bulletin No. 107 relating to stock-based compensation. The simplified method was chosen because the Company has limited historical option exercise experience due to its short operating history of awards granted, the first plan was established in 2016 and was primarily used for Executives awards. Further, the Company does not have sufficient history of exercises in the U.S. market given the recent redomiciliation to the United States in the prior fiscal year. The expected term of options with a performance condition was set to the contractual term of 10 years. The contractual term was used options with performance condition were awarded to C-Suite executives and the Company assumes that they will hold them longer than rank and file executives.

•

Risk-free interest rate – the risk-free interest rate is based on the U.S. Treasury yield in effect at the time of grant for a period approximately equal to the expected term of the award.

Loss per Share

Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period, assuming potentially dilutive ordinary shares from option exercises, employee share awards, and other dilutive instruments that have been issued. For periods where the Company has presented a net loss, potentially dilutive securities are excluded from the computation of diluted net loss per share as they would be anti-dilutive. The loss per share incorporates the impact of the reverse stock split that was effectuated in conjunction with the redomicilation. In accordance with ASC 260, the impact of the reverse stock split was retrospectively applied for all periods presented.

Segment Reporting

Operating segments are defined as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. The Company’s chief operating decision maker is its Chief Executive Officer. To date, the Company has viewed its operations and manages its business as one segment.

Accounting Standards Update

12 Months Ended

Jun. 30, 2021

Accounting Changes And Error Corrections [Abstract]

Accounting Standards Update

3. Accounting Standards Update

Recent Accounting Pronouncements Not Yet Adopted

In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, which includes amendments to simplify the accounting for income taxes by removing certain exceptions to the general principles in ASC 740, Income Taxes, or ASC 740. The amendments also improve consistent application of and simplify U.S. GAAP for other areas of ASC 740 by clarifying and amending existing guidance. The new guidance is effective for the Company for annual periods beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022. Early adoption of the amendments is permitted. The Company is currently evaluating the potential impact that the adoption of ASU 2019-12 will have on its consolidated financial statements.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Goodwill And Intangible Assets Disclosure [Abstract]

Leases

12 Months Ended

Jun. 30, 2021

Leases [Abstract]

Leases

4. Leases

During November 2020, the Company remeasured the lease liability for an office lease due to a change in the lease term. As a result of the remeasurement of the lease liability, there was a reduction of approximately $563,000 to the operating lease ROU assets and operating lease liabilities. There was no impact on earnings as a result of the modification. In addition to the modification for the office lease, the Company entered into a new lease in November 2020 for additional warehouse space. The new lease resulted in an increase of $236,000 to the operating lease ROU assets and operating lease liabilities.

The following table sets forth the Company’s operating lease expenses which are included in general and administrative expenses in the consolidated statements of operations (in thousands):

	Year ended June 30,
	2021		2020		2019
Operating lease cost	$	731	$	701	$	-
Variable lease cost		48		47		-
Total lease cost	$	779	$	748	$	-

Supplemental cash flow information related to operating leases was as follows (in thousands):

	Year ended June 30,
	2021		2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	735	$	675	$	-

Supplemental balance sheet information, related to operating leases was as follows (in thousands):

	As of June 30, 2021			As of June 30, 2020
Reported as:
Operating lease right-of-use assets	$	1,480		$	2,347
Total right-of-use assets	$	1,480		$	2,347

Other current liabilities:
Operating lease liabilities, short-term	$	702		$	533
Operating lease liabilities, long term		878			1,917
Total operating lease liabilities	$	1,580		$	2,450
Operating lease weighted average remaining lease term (years)		2.67		3.91
Operating lease weighted average discount rate		6.70	%		7.50	%

As of June 30, 2021, maturities of the Company’s operating lease liabilities are as follows (in thousands):

	Operating Leases
2022	$	784
2023		428
2024		413
2025		105
Total lease payments	$	1,730
Less imputed interest		(150	)
Total operating lease liabilities	$	1,580

At June 30, 2021, there were no leases entered into that had not yet commenced.

Inventory

12 Months Ended

Jun. 30, 2021

Inventory Disclosure [Abstract]

Inventory

5. Inventory

The composition of inventories is as follows (in thousands):

	June 30,
	2021		2020
Raw materials	$	982	$	947
Work in process		241		—
Finished goods		424		178
Total inventory	$	1,647	$	1,125

The Company has reduced the carrying value of its inventories to reflect the lower of cost or net realizable value. Charges for estimated excess and obsolescence are recorded in cost of sales in the consolidated statement of operations and were $226,000, $84,000, and $89,000 for the years ended June 30, 2021, 2020 and 2019, respectively.

Intangible Assets

12 Months Ended

Jun. 30, 2021

Intangible Assets

6. Intangible Assets

The composition of intangible assets is as follows (in thousands):

		As of June 30, 2021							As of June 30, 2020
	Weighted Average Life	Gross Amount		Accumulated Amortization			Net Carry Amount		Gross Amount		Accumulated Amortization			Net Carry Amount
Patent 1	3	$	264	$	(190	)	$	74	$	235	$	(101	)	$	134
Patent 2	14		138		(16	)		122		74		(9	)		65
Patent 3	15		163		(19	)		144		125		(9	)		116
Patent 5	20		46		(2	)		44		26		-			26
Patent 6	20		39		(1	)		38		-		-			-
Patent 8	20		3		-			3		-		-			-
Trademarks	Indefinite		47		-			47		23		-			23
Total intangible assets		$	700	$	(228	)	$	472	$	483	$	(119	)	$	364

During the years ended June 30, 2021 and 2020, the Company did not identify any events or changes in circumstances that indicated the carrying value of its intangibles may not be recoverable. As such, there was no impairment of intangibles assets recognized for the years ended June 30, 2021, 2020 and 2019. Amortization expense of intangibles included in the consolidated statements of operations was $109,000, $119,000 and $0 for the years ended June 30, 2021, 2020 and 2019, respectively.

The Company expects the future amortization of amortizable intangible assets held at June 30, 2021 to be (in thousands):

	Estimated Amortization Expense
2022		$	89
2023			28
2024			28
2025			28
2026			28
Thereafter			224
Total		$	425

Property and Equipment, net

12 Months Ended

Jun. 30, 2021

Property Plant And Equipment [Abstract]

Property and Equipment, net

7. Property and Equipment, net

The composition of property and equipment, net is as follows (in thousands):

	Useful Lives	As of June 30, 2021			As of June 30, 2020
Computer equipment	3 years	$	722		$	802
Computer software	3 years		775			369
Construction in progress			48			138
Furniture and fixtures	7 years		440			425
Laboratory equipment	5 years		523			194
Leasehold improvements	Lesser of life or lease term		242			216
RECELL Moulds	5 years		129			100
Less: accumulated amortization and depreciation			(1,421	)		(881	)
Total plant and equipment, net		$	1,458		$	1,363

Depreciation expense related to plant and equipment was $606,000, $346,000 and $269,000 for the years ended June 30, 2021, 2020 and 2019, respectively.

Prepaids and Other Current Assets and Other Long-Term Assets

12 Months Ended

Jun. 30, 2021

Prepaids And Other Current Assets And Other Long Term Assets [Abstract]

Prepaids and Other Current Assets and Other Long-Term Assets

8. Prepaids and Other Current Assets and Other Long—Term Assets

Prepaids and other current assets consisted of the following (in thousands):

	As of June 30, 2021		As of June 30, 2020
Prepaid expenses	$	853	$	792
Lease deposits		-		123
Other receivables		480		75
Total prepaids and other current assets	$	1,333	$	990

Prepaid expenses primarily consist of prepaid benefits and insurance.

Other long-term assets consisted of the following (in thousands):

	As of June 30, 2021		As of June 30, 2020
BARDA contract costs	$	613	$	—
Long-term lease deposits		126		1
Long-term prepaids		22		—
Total other long-term assets	$	761	$	1

Reporting Segment and Geographic Information

12 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Reporting Segment and Geographic Information

9. Reporting Segment and Geographic Information

The Company views its operations and manages its business in one reporting segment. Long-lived assets were primarily located in the United States as of June 30, 2021, and 2020 with an insignificant amount located in Australia and the United Kingdom. Revenue by region for the years ended June 30, 2021, 2020 and 2019 were as follows (in thousands):

	June 30,
	2021		2020		2019
Revenue:
United States	$	28,955	$	13,800	$	4,404
Foreign:
Australia		207		292		806
United Kingdom		70		171		264
Total	$	29,232	$	14,263	$	5,474

Revenue by Customer type for the years ended June 30, 2021, 2020 and 2019 were as follows (in thousands):

	June 30,
	2021		2020		2019
Revenue:
Commercial sales	$	21,483	$	14,263	$	5,474
BARDA:
Product sales		7,595		—		—
Services for emergency preparedness		154		—		—
Total	$	29,232	$	14,263	$	5,474

Cost of sales by Customer type for the years ended June 30, 2021, 2020 and 2019 were as follows (in thousands):

	June 30,
	2021		2020		2019
Cost of sales
Commercial cost	$	3,931	$	2,973	$	1,271
BARDA:
Product cost		1,889		—		—
Emergency preparedness service cost		129		—		—
Total	$	5,949	$	2,973	$	1,271

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Commitments And Contingencies Disclosure [Abstract]

Contingencies

12 Months Ended

Jun. 30, 2021

Contingencies

10. Contingencies

The Company is subject to certain contingencies arising in the ordinary course of business. The Company records accruals for these contingencies to the extent that a loss is both probable and reasonably estimable. If some amount within a range of loss appears to be a better estimate than any other amount within the range, that amount is accrued. Alternatively, when no amount within a range of loss appears to be a better estimate than any other amount, the lowest amount in the range is accrued. The Company expenses legal costs associated with loss contingencies as incurred. As of June 30, 2021, the Company does not have any outstanding or threatened litigation that would have a material impact to the financial statements.

Common and Preferred Stock

12 Months Ended

Jun. 30, 2021

Equity [Abstract]

Common and Preferred Stock

11. Common and Preferred Stock

On June 29, 2020, a statutory scheme of arrangement under Australian law to effect a redomiciliation of the AVITA Group from Australia to the United States of America was implemented (“the Redomiciliation”). The Redomiciliation was approved by shareholders on June 15, 2020 and approved by the Federal Court of Australia on June 22, 2020.

Under the Redomiciliation, eligible shareholders in AVITA Medical received consideration in the form of:

•

five CDIs in the Company for every 100 ordinary shares in AVITA Medical that were held by them; or

•

one share of common stock in the Company for every 5 ADSs in AVITA Medical that were held by them.

As a result of the ‘implicit consolidation’ that occurred under the Redomiciliation, the number of shares of common stock on issue in the Company (as set out in the consolidated financial statements) is less than the number of ordinary shares on issue in AVITA Medical that was previously set out in the consolidated financial statements of AVITA Medical. All common stock amounts included in these financial statements have been retroactively reduced by a factor of one hundred and all per share amounts have been increased by a factor of one hundred, with the exception of the Company’s common stock par value.

The Company is authorized to issue 200,000,000 shares of common stock, par value $0.0001 per share, and 10,000,000 shares of preferred stock, par value $0.0001 per share, issuable in one or more series as designated by the Company’s board of directors. No other class of capital stock is authorized. As of June 30, 2021, and 2020, 24,895,864 and 21,467,912 shares of common stock, respectively, were issued and outstanding and no shares of preferred stock were outstanding.

On March 1, 2021, the Company issued 3,214,250 shares of common stock at the offering price of $21.50 per share. The gross proceeds from the offering were approximately $69.1 million while the Company incurred $5.1 million in capital issuance expenses. The offering was made pursuant to a shelf registration statement on Form S-3 (File No. 333-249419) that was previously filed with the Securities and Exchange Commission (the “SEC”) on October 9, 2020 and declared effective on October 16, 2020. It was also publicly released on the ASX. The final prospectus supplement relating to and describing the terms of the offering was filed with the SEC on February 25, 2021 (in the United States) and released on the ASX on March 1, 2021 (in Australia).

During the year ended June 30, 2020, the AVITA Group raised additional capital via a private placement in the amount of $81.7 million (through our former parent company, AVITA Medical). The Company sold the equivalent of 2,033,898 ordinary shares at an issue price of $40.17 per share for total net proceeds of $76.6 million, after deducting commission and offering expenses. An aggregate of the equivalent of 15,853 ordinary shares were issued to the directors of the Company in lieu of director fees during the year ended June 30, 2020, under the Director Share Plan that was approved in December 2017.

During the year ended June 30, 2019, the AVITA Group completed a series of equity transactions (through our former parent company, AVITA Medical). The second tranche of the June 2018 Placement (defined below) closed on July 27, 2018, raising an aggregate of $2.4 million through the issuance of the equivalent of 650,000 shares at $3.70 per share. During December 2018, AVITA Medical entered into a placement agreement to raise $28.8 million over two tranches. AVITA Medical completed the first tranche on December 10, 2018 and issued the equivalent of 3,100,471 shares at a price of $5.76 per share raising gross proceeds of $17.9 million. The settlement of the second tranche for $10.9 million was approved by the shareholders at an extraordinary meeting held during January 2019. The second tranche closed on January 18, 2019 and raised gross proceeds of $10.9 million through the sale of the equivalent of 1,899,530 shares at the same price as the first tranche, being $5.76 per share. In addition, on January 10, 2019, AVITA Medical completed a Share Purchase Plan under which AVITA Medical offered to existing eligible shareholders the opportunity to purchase shares at a purchase price equivalent to $5.74 per share. As part of the Share Purchase Plan AVITA Medical received gross proceeds of $1.3 million for the issuance of the equivalent of 220,612 shares.

Revenue

12 Months Ended

Jun. 30, 2021

Revenue Performance Obligation [Abstract]

Revenue

12. Revenue

The Company’s revenue consists of sale of the RECELL System to hospitals or other treatment centers and to BARDA (collectively “customers”), predominately in the United States. In addition, the Company records service revenue for the emergency preparedness services provided to BARDA.

Performance Obligations

For commercial contracts, we identified the hospital or treatment center as the customer in Step 1 of the ASC 606 5 step model and have determined a contract exists with those customers in Step 1. As these contracts typically have a single performance obligation (i.e. product delivery), no allocation of the transaction price is required in Step 4 of the model. Control of the product is transferred to the customer at a point in time. Specifically, we determined the customer obtains control of the product at point in time at which the goods are either shipped or delivered to our customers’ facilities, depending on the terms of the contract. The transaction price is stated within the contract and is therefore fixed consideration. The transaction price does not include the sales tax that are imposed by governmental authorities.

For the contract with BARDA, the Company identified two performance obligations (i) the procurement of 5,614 RECELL units, (ii) emergency preparedness services. The Company’s performance obligations are either satisfied at a point in time or over time as services are provided. The product procurement performance obligation is satisfied at a point in time, upon transfer of control of the product. RECELL units that have been delivered to BARDA have a product replacement obligation at no cost to BARDA due to product’s limited shelf-life. The estimated cost of the expired inventory over the term of the contract is recognized on a per unit basis at the time of delivery. The liability is released upon replacement of the product along with a corresponding reduction to inventory. The Company has estimated deferred cost of approximately $343,000 and $0 as of June 30, 2021 and 2020, respectively, for the rotation cost of the product. Such amounts are recorded in other current liabilities and other long-term liabilities in the amounts of $77,000 and $266,000, respectively. The emergency preparedness services performance obligation is satisfied over time. Revenue for the emergency deployment will be recognized on a straight-line basis during the term of the contract as services are consumed over time. Services recognized for the year ended June 30, 2021 of $154,000 and are included in sales within the consolidated statement of operations. For the years ended June 30, 2020 and 2019, the Company did not have any service revenue with BARDA. Contract costs to fulfil the performance obligation are incremental and expected to be recovered are capitalized and amortized on a straight-line basis over the term of the contract. As of June 30, 2021 and June 30, 2020 contract costs of $613,000 and $0 are included in other long-term assets, respectively.

Remaining Performance Obligations

Revenues from remaining performance obligations are calculated as the dollar value of the remaining performance obligations on executed contracts. The estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) pursuant to the Company’s existing customer agreements is $1.1 million, $435,000 and $429,000 as of June 30, 2021, 2020 and 2019, respectively. Approximately $665,000 of this amount relates to our July 2020 contract with BARDA for the purchase, delivery and storage of RECELL Systems for emergency response preparedness for a period of three years. The Company expects to recognize this amount as services are provided to BARDA. For the remaining balance of $435,000 the Company expects to recognize revenue upon receiving Japanese Pharmaceuticals and Medical Device Act approval of the RECELL System in Japan. For the contract with BARDA, we recognized $7.6 million of revenue for the RECELL product and $154,000 of service revenue related to the emergency readiness performance obligation during the year ended June 30, 2021. There were no purchases by BARDA during the years ended June 30, 2020 and 2019. We are contracted to manage this inventory of product until the federal government requests shipment or at contract termination on December 31, 2023.

Variable Consideration

The Company evaluates its contracts with customers for forms of variable consideration, which may require an adjustment to the transaction price based on their estimated impact. For commercial customers, revenue from the sale of goods is recognized net of volume discounts. The Company uses the expected value method when estimating variable consideration. Revenue is only recognized to the extent that it is probable that a significant reversal will not occur. Variable consideration under the BARDA contract is not material to the consolidated financial statements.

Volume Discounts — The Company generally provides contracted customers with volume discounts that are explicitly stated in the Company’s customer contracts. The RECELL system is sold with respective volume discounts based on aggregated sales over a 12-month period on a customer-by-customer basis. Revenue from these sales is recognized based on the price specified in the contract, net of estimated volume discounts, and net of any sales tax charged. Goods sold are not eligible for return. The Company has determined such discounts are not distinct from the Company’s sale of products to the customer and, therefore, these payments have been recorded as a reduction of revenue and as a reduction to accounts receivable, net.

Contract Assets and Contract Liabilities

Contract assets include amounts related to the Company’s contractual right to consideration for both completed and partially completed performance for which the Company does not have the right to payment. As of the period ended June 30, 2021 and 2020, the Company does not have any contract assets.

Contract liabilities are recorded when the Company receives payment prior to satisfying its obligation to transfer goods to a customer. The Company had $1.1 million, $435,000 and $429,000 of contract liabilities as of June 30, 2021, 2020 and 2019, respectively. The increase in contract liability primarily relates to the unsatisfied performance obligation for emergency preparedness under the BARDA contract. Performance obligation will be recognized over time over the term of the contract. For the years ended June 30, 2021 and 2020, revenue recognized from amounts included in the beginning balance of contract liabilities was not significant.

Cost to Obtain and Fulfill a Contract

Contract fulfillment costs include commissions and shipping expenses. The Company has opted to immediately expense the incremental cost of obtaining a contract when the underlying related asset would have been amortized over one year or less. The Company generally does not incur costs to obtain new contracts.

Contract Costs

Cost to fulfil the BARDA emergency preparedness performance obligation, which primarily consist of billed costs to BARDA incurred in connection with the emergency deployment services, are incremental and expected to be recovered. Costs are capitalized and amortized on a straight-line basis over the term of the contract. As of June 30, 2021 and 2020, the Company had $613,000 and $0 of contracts costs included in other long-term assets. Amortization expense related to deferred contract costs were $129,000 , $0, and $0 during year ended June 30, 2021, 2020 and 2019, respectively, and are classified as cost of sales on the accompanying consolidated Statements of Operations. There was no impairment loss in relation to deferred contract costs during year ended June 30, 2021.

Disaggregated Revenue

The Company disaggregates revenue from contracts with customers into geographical regions and by customer type. As noted in the segment footnote, the Company’s business consists of one reporting segment. A reconciliation of disaggregated revenue by geographical region and customer type is provided in Segment Note 9.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Payment Plans

12 Months Ended

Jun. 30, 2021

Share-Based Payment Plans

13. Share-Based Payment Plans

Overview of Employee Share-Based Compensation Plans

In November 2014, our former parent company, AVITA Medical, adopted the Employee Share Plan and the Incentive Option Plan (collectively, the “2016 Plans”). Upon completion of the Redomiciliation, the 2016 Plans were terminated with respect to future grants and accordingly, there are no more shares available to be issued under the 2016 Plans. In addition, upon completion of the Redomiciliation, the Company had an implicit consolidation or reverse stock split of 100-1 and all share information presented below has been presented on a reverse split stock basis. During November 2020, the Company, pursuant to Rule 416 under the Securities Act of 1933, filed a registration statement on form S-8 to register a total of 1,750,000 shares of common stock which may be issued pursuant to the terms of the Company’s 2020 Omnibus Incentive Plan (“2020 Plan”).

The 2020 Plan provides for the grant of the following Grants: (a) Incentive Stock Options, (b) Nonstatutory Stock Options, (c) Stock Appreciation Rights, (d) Restricted Stock Grants, (e) Restricted Stock Unit Grants, (f) Performance Grants, and (g) Other Grants. The 2020 Plan will be administered by the Compensation Committee or by the Board acting as the Compensation Committee. Subject to the general purposes, terms and conditions of the 2020 Plan, Applicable Law and any charter adopted by the Board governing the actions of the Compensation Committee, the Compensation Committee will have full power to implement and carry out the 2020 Plan. Without limitation, the Compensation Committee will have the authority to, interpret the plan, approve persons to receive grants, determine the terms and number of shares of the grants, determine vesting and exercisability of grants, and make all other determinations necessary or advisable in connection with the administration of this Plan.

The contractual term of awards granted under the 2020 Plan is ten years from the date of its grant. Unless otherwise specified, the vesting period of awards under the 2020 Plan was: (i) vest over a four year period in four equal installments, 25% at the end of each year from the date of grant, and /or (ii) subject to other performance criteria and hurdles, as determined by the Compensation Committee.

The following table summarizes information about the Company’s share-based award plans as of June 30, 2021:

	Outstanding Options		Outstanding Restricted Stock Units		Shares available for future issuance
2016 Plan		1,058,295		-		-
RSU Awards		-		95,014		-
2020 Plan		435,200		5,000		1,309,800

Share-Based Payment Expenses

Share-based payment transactions are recognized as compensation expense based on the fair value of the instrument on the date of grant. The Company uses the graded-vesting method to recognize compensation expense. Compensation cost is reduced for forfeitures as they occur in accordance with ASU 2016-09, Simplifying the Accounting for Share-Based Payments ("ASU 2016-09"). During the years ended June 30, 2021, 2020 and 2019, the Company recorded share-based compensation expense of $5.7 million, $16.5 million, and $1.9 million, respectively. No income tax benefit was recognized in the consolidated statement of operations for share-based payment arrangements for June 30, 2021, 2020 and 2019.

The Company has included share-based compensation expense as part of operating expenses in the accompanying consolidated statements of operations as follows (in thousands):

	Year ended June 30,
	2021		2020		2019
Sales and marketing expenses	$	925	$	893	$	296
General and administrative expenses		4,095		14,890		1,518
Research and development expenses		644		703		132
Total	$	5,664	$	16,486	$	1,946

A summary of share option activity as of June 30, 2021 and changes during the year then ended is presented below:

	Service Only Share Options			Performance Based Share Options			Total Share Options			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding shares at June 30, 2020		904,353			356,171			1,260,524		$	14.72		8.42	$	22,185,034
Granted		229,500			207,500			437,000			21.37
Exercised		(13,859	)		(500	)		(14,359	)		7.77
Expired		(20,690	)		(45,002	)		(65,692	)		36.44
Forfeited		(101,478	)		(22,500	)		(123,978	)		29.45
Outstanding shares at June 30, 2021		997,826			495,669			1,493,495			14.53		7.99		12,233,949
Exercisable at June 30, 2021		449,599			283,769			733,368		$	8.97		7.06	$	9,412,064

The weighted-average grant-date fair value of options granted during the years 2021, 2020, and 2019 was $14.08, $26.56, and $6.67, respectively. The total intrinsic value of options exercised during the years ended June 30, 2021, 2020 and 2019 was $221,000, $3.1 million, and $1.7 million, respectively. Intrinsic value is measured using the fair market value at the date of exercise for options exercised, or at June 30 for outstanding options, less the applicable exercise price.

Cash received from the exercise of options was approximately $63,000 and $474,000 and $252,000 for the year ended June 30, 2021, 2020 and 2019, respectively.

As of June 30, 2021, there was approximately $7.0 million of total unrecognized compensation cost related to share-based compensation expense. Of this amount $4.5 million relates to service only share options to be recognized over a weighted average period of 1.57 years and $2.5 million related to performance-based share options to be recognized over a weighted average period of 2.14 years.

Option Pricing Model

The Company estimates the fair value of tenure-based share options using the Black-Scholes option pricing model on the date of grant. The Company estimates the fair value of options with a performance condition using the Monte-Carlo simulation model.

The valuation of the options is affected by the Company's share price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, expected share price volatility over the term of the awards and actual and projected employee share option exercise behaviors. The risk-free rate is based on the U.S. Treasury rate for the expected life at the time of grant, volatility is based on the average historical and implied volatility and the expected life is based on the estimated average of the life of options using the simplified method as prescribed by SAB 107. The Company utilizes the simplified method to determine the expected life of the options due to insufficient exercise activity during recent years. The expected dividend assumption is based on the Company’s history and expectation of dividend payouts.

Included in the following table is a summary of the grant-date fair value of share options granted and the related assumptions used in the Black-Scholes Option pricing model and Monte-Carlo simulation in fiscal year 2021 and the Binomial models for share options granted in 2020, and 2019.

	Year Ended June 30,
	2021			2020			2019
Expected volatility	65% - 80%			75% - 90%				90	%
Weighted-average volatility		73	%		88	%		90	%
Expected dividends		0	%		0	%		0	%
Expected term (in years)	5 - 10			10			10
Risk-free interest rate	0.77% - 1.64%			0.68% - 2.65%			1.50% - 2.65%

Restricted Stock Units

Restricted stock units (“RSUs”) are granted to executives as part of their long-term incentive compensation. RSUs granted prior to the current year and under the 2020 Plan, arise out of contracts between the Company and the holders of such securities. These RSU awards were approved by the Compensation Committee as determined necessary. They have a contractual term of 10 years and vest in accordance with the tenure or performance conditions as determined by the Compensation Committee. The grant date fair value is determined based on the price of the Company stock price on the date of grant (stock price determined on NASDAQ post redomiciliation and ASX prior to the redomiciliation). RSUs primarily consist of awards to the CEO and other executives. The CEO RSU awards are described below:

CEO RSUs

On November 30, 2017, the equivalent of 500,000 RSUs were issued to the CEO. As of June 30, 2020, 83,333 of these RSUs with a performance condition of procurement of the RECELL system to BARDA were outstanding. This performance condition was satisfied during the year and awards were released to the CEO. As of June 30, 2021, no grants remain outstanding for this award date.

On November 2019,the equivalent of 395,542 RSUs were issued to the CEO with the following vesting terms:

Tenure – the equivalent of 142,521 RSUs with a vesting period of three-years commencing on June 1, 2020.

Milestone performance – 253,021 of the RSUs will vest upon satisfaction of the following milestones:

First patient visit for treatment in an FDA approved U.S. soft tissue and trauma trial by the Company prior to March 3, 2020. – Performance criteria was satisfied in the prior year

First patient visit for treatment in an FDA approved U.S pediatric trial by the Company prior to June 30, 2020. – Performance criteria was satisfied in the prior year

First patient visit for treatment in an FDA approved U.S pilot vitiligo trial by the Company prior to September 30, 2020. - Performance criteria was satisfied in the current year and award appropriately released.

FDA application submission for approval of the next generation RECELL device prior to June 30, 2021. – Satisfaction of the performance criteria is pending ratification by the Compensation Committee once this is approved by the Compensation Committee the awards will be released to the CEO.

FDA approval of the next generation RECELL device prior to June 30, 2022. – Performance criteria has been assessed as not probable.

As of June 30, 2021, a total of 47,507 tenure based RSU awards and 47,507 performance based RSU awards from the above CEO November 2019 grant date remain outstanding.

A summary of the status of the Company’s unvested RSUs as of June 30, 2021, and changes that occurred during the year is presented below:

Unvested Shares	Service Condition RSU			Performance Condition RSU			Total RSU's			Weighted Average Grant Date Fair Value per Unit
Unvested RSUs outstanding at June 30, 2020		95,013			244,346			339,359		$	30.70
Granted		-			5,000			5,000			22.65
Vested		(47,506	)		(151,837	)		(199,343	)		24.62
Forfeited		-			(45,002	)		(45,002	)		40.04
Unvested RSUs outstanding at June 30, 2021		47,507			52,507			100,014		$	38.17

The weighted-average grant-date fair value of the RSUs granted during 2021, 2020 and 2019 was $22.65, $39.12 and $0 per unit, respectively. The total fair value of shares vested during the years ended June 30, 2020, 2019 and 2018 was $4.9 million, $9.2, and $0, respectively.

As of June 30, 2021, there was $1.6 million of total unrecognized compensation cost related to unvested share-based compensation arrangements granted under the RSU award agreements. This amount includes $926,000 for performance share awards that have been determined to be not probable. The associated expense will be recognized if the performance conditions is determined

to be probable. The remaining unrecognized expense of $722,000 is expected to be recognized over a weighted average period of 0.87 years .

Income Taxes

12 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Income Taxes

14. Income Taxes

Geographic sources of income (loss) from continuing operations before income taxes are as follows:

	Year Ended			Year Ended			Year Ended
(amounts in thousands)	June 30, 2021			June 30, 2020			June 30, 2019
United States	$	(26,478	)	$	(20,793	)	$	(19,899	)
Foreign		(67	)		(21,233	)		(5,324	)
Income (loss) from continuing operations before income taxes	$	(26,545	)	$	(42,026	)	$	(25,223	)

The income tax benefit (expense) as shown in the accompanying consolidated statements of operations includes the following:

	Year Ended		Year Ended		Year Ended
(amounts in thousands)	June 30, 2021		June 30, 2020		June 30, 2019
Current:
Federal	$	—	$	—	$	—
State		38		4		—
Foreign		—		—		(121	)
		38		4		(121	)
Deferred:
Federal		—		—		—
State		—		—		—
Foreign		—		—		—
		—		—		—
Total Income Tax Expense (Benefit)	$	38	$	4	$	(121	)

The provision for income taxes differs from the tax computed using the statutory United States federal income tax rate of 21%, 21% and 21% for June 30, 2021,2020, and 2019 as a result of the following items:

(amounts in thousands)	Year Ended June 30, 2021			Year Ended June 30, 2020			Year Ended June 30, 2019
Tax expense (benefit) at U.S. statutory rate	$	(5,574	)	$	(8,827	)	$	(5,297	)
State income taxes		36			4			—
Foreign rate differential		(5	)		(1,389	)		(299	)
Tax Credits		—			—			(121	)
Share-based compensation		(27	)		(3,794	)		535
Permanent differences		233			669			84
Change in tax rate		—			—			—
Net change in valuation allowance		5,375			13,341			4,977
Income tax expense (benefit)	$	38		$	4		$	(121	)

A summary of deferred income tax assets is as follows (in thousands):

	Year Ended June 30, 2021			Year Ended June 30, 2020
Deferred tax liabilities
ROU Asset	$	(389	)	$	(608	)
Property, plant and equipment		(5	)
Total deferred tax liabilities	$	(394	)	$	(608	)
Deferred tax assets
Property, plant and equipment	$	—		$	17
Accrued expenses		686			564
Intangible assets		262			255
Stock based compensation		3,215			2,996
Lease liability		415			634
Net operating loss carryforward		44,282			37,756
Other		609			285
Total deferred tax assets	$	49,469		$	42,507
Less valuation allowance		(49,075	)		(41,899	)
Net deferred tax assets	$	394		$	608
Net deferred tax assets / (liabilities)	$	—		$	—

At June 30, 2021, the Company and its subsidiaries had net operating loss carryforwards for federal, state, United Kingdom, and Australia income tax purposes of $111.8 million, $66.5 million, $32.8 million and $38.2 million respectively. The net operating loss carryforwards may be subject to limitation regarding their utilization against taxable income in future periods due to “change of ownership” provisions of the Internal Revenue Code and similar state and foreign provisions. Of these carryforwards, $21.7 million will expire, if not utilized, between 2026 through 2038. The remaining carryforwards have no expiration.

In assessing the recoverability of its deferred tax assets, the Company considers whether it is more likely than not that its deferred assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in those periods in which temporary differences become deductible and/or net operating losses can be utilized. The Company considers all positive and negative evidence when determining the amount of the net deferred tax assets that are more likely than not to be realized. This evidence includes, but is not limited to, historical earnings, scheduled reversal of taxable temporary differences, tax planning strategies and projected future taxable income. Based upon the weight of available evidence including the uncertainty regarding the Company’s ability to utilize certain net operating losses and tax credits in the future, the Company has established a valuation allowance against its net deferred tax assets of $49.1 million and $41.9 million as of June 30, 2021 and 2020, respectively. The deferred tax assets are primarily net operating loss carryforwards for which management has determined it is more likely than not that the deferred tax assets will not be realized.

The Company recognizes the tax benefit from an uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements related to a particular tax position are measured based on the largest benefit that has a greater than a 50% likelihood of being realized upon settlement. The amount of unrecognized tax benefits is adjusted as appropriate for changes in facts and circumstances, such as significant amendments to existing tax law, new regulations or interpretations by the taxing authorities, new information obtained during a tax examination, or resolution of an examination.

The Company has not identified any uncertain tax positions as of June 30, 2021 or June 30, 2020.

The Company files income tax returns in the U.S. federal, California and certain other state and foreign jurisdictions. The Company remains subject to income tax examinations for its U.S. federal and state income taxes generally for fiscal years ended June 30, 2006 and forward. The Company also remains subject to income tax examinations for international income taxes for fiscal years ended June 30, 2017 through June 30, 2020, and for certain other U.S. state and local income taxes generally for the fiscal years ended June 30, 2017 through June 30, 2020.

The Tax Cuts and Jobs Act (“the Tax Act”) was enacted on December 22, 2017 and reduced U.S. corporate income tax rates to 21% as of January 1, 2018. The rate change became effective during tax year June 30, 2018, resulting in a blended statutory tax rate of 28% and a decrease in the Company’s deferred tax assets and the associated valuation allowance in tax year June 30, 2018.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted in the United States. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses and technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property. The Company evaluated the provisions of the CARES Act and does not anticipate the associated impacts, if any, will have a material effect on our financial position.

On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA 2021) was signed into law which included a number of provisions including, but not limited to the extension of numerous CARES Act provisions such as employment tax credits and enhanced business meals deductions. Accordingly, the effects of the CCA have been incorporated into the income tax provision computation for the year ended June 30, 2021. These provisions did not have a material impact on the income tax provision.

Compensation And Retirement Disclosure [Abstract]

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Loss Per Share

12 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Loss Per Share

15. Loss per Share

The following is a reconciliation of the basic and diluted loss per share computations:

	Year Ended June 30,
	2021		2020		2019
	(in thousands, except per share amounts)
Net Loss	$	26,583	$	42,030	$	25,102
Weighted-average common shares—outstanding, basic		22,674		20,291		16,065
Weighted-average common shares—outstanding, diluted		22,674		20,291		16,065
Net loss per common share, basic	$	1.17	$	2.07	$	1.56
Net loss per common share, diluted	$	1.17	$	2.07	$	1.56

The Company’s basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding for the relevant period. For the purposes of the calculation of diluted net loss per share options to purchase common stock, restricted stock units and unvested shares of common stock issued upon the early exercise of stock options have been excluded from the calculation of diluted net loss per share as their effect is anti-dilutive. Because the Company has reported a net loss for the years ended June 30, 2021, 2020 and 2019, diluted net loss per common share is the same as the basic net loss per share for those years.

Retirement Plans

12 Months Ended

Jun. 30, 2021

Retirement Plans

16. Retirement Plans

The Company offers a 401(k)-retirement savings plan (the “401(k) Plan”) for its employees, including its executive officers, who satisfy certain eligibility requirements. The Internal Revenue Code of 1986, as amended, allows eligible employees to defer a portion of their compensation, within prescribed limits, on a pre-tax basis through contributions to the 401(k) Plan. The Company matches contributions to the 401(k) Plan based on the amount of salary deferral contributions the participant makes to the 401(k) Plan. The Company will match up to 6% of an employee’s compensation that the employee contributes to his or her 401(k) Plan account. Total Company matching contributions to the 401(k) Plan were $733,000, $713,000 and $ 594,000 in the years ended June 30, 2021, 2020 and 2019, respectively.

The entire disclosure for retirement benefits.

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Quarterly Financial Information Disclosure [Abstract]

Deed of Cross Guarantee

12 Months Ended

Jun. 30, 2021

Guarantees [Abstract]

Deed of Cross Guarantee

17. Deed of Cross Guarantee

The Company (as the parent entity of the AVITA Group) is party to a deed of cross guarantee dated June 29, 2020 (“Deed”) with each of its Australian wholly-owned subsidiaries, namely:

•

AVITA Medical Pty Ltd (ACN 058 466 523;

•

C3 Operations Pty Ltd (ACN 090 161 505);

•

Visiomed Group Pty Ltd (ACN 003 010 580); and

•

Infamed Pty Limited (ACN 084 800 653),

(together, the “Australian Subsidiaries”).

The Company and the Australian Subsidiaries were the only parties to the Deed at June 30, 2021 and comprise the “closed group” for the purposes of the Deed (and also the “extended closed group”). No parties were added to or removed from the Deed, or subject to a notice of disposal, during or since the financial year ended June 30, 2021. Since June 30, 2021, there has been no change in ownership of any of the Australian Subsidiaries.

By entering into the Deed, the Company and the Australian Subsidiaries have guaranteed the debts of each other.

Relief under ASIC Corporations (Wholly-owned Companies) Instrument 2016/785

By entering into the Deed, the Australian Subsidiaries have been relieved from the requirement to prepare a financial report and directors’ report for the financial year ended June 30, 2021 under ASIC Corporations (Wholly-owned Companies) Instrument 2016/785.

Consolidated financial information of parties to the Deed

The financial statements below are additional disclosure items specifically required by the Australian Securities and Investments Commission and represent the consolidated financial statements of the entities that are party to the Deed only (being the ‘closed group’ and also the ‘extended closed group’ under the Deed).

	Year Ended June 30,
(in thousands)	2021
Revenues	$	380
Cost of sales		(75	)
Gross profit		305
Operating Expenses:
Sales and marketing expenses		(208	)
General and administrative expenses		(182	)
Product development expense		1
Total operating expenses		(389	)
Other Income		3
Net loss	$	(81	)

	As of June 30,
(in thousands)	2021
ASSETS
Cash	$	223
Accounts receivable, net		5
Prepaids and other current assets		2,312
Inventory		32
Total assets		2,572
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued liabilities		12
Accrued wages and fringe benefits		84
Other current liabilities		2,455
Total liabilities		2,551
Contributed equity		232,747
Reserves		31,803
Accumulated deficit		(264,529	)
Total stockholders' equity (deficit)		21
Total liabilities and stockholders' equity (deficit)	$	2,572

Quarterly Results (Unaudited)

12 Months Ended

Jun. 30, 2021

Quarterly Results (Unaudited)

18. Quarterly Results (Unaudited)

(in thousands, except per share data)	Quarter ended
	September 30,			December 31,			March 31,			June 30,
	2020			2020			2021			2021
Revenues	$	5,060		$	5,103		$	8,765		$	10,304
Cost of sales		(929	)		(821	)		(2,146	)		(2,053	)
Gross profit		4,131			4,282			6,619			8,251
BARDA income		596			449			570			440
Operating Expenses:
Sales and marketing expenses⁽¹⁾		(3,265	)		(3,600	)		(3,649	)		(4,146	)
General and administrative expenses ⁽¹⁾		(8,302	)		(3,401	)		(5,422	)		(5,275	)
Research and development expenses ⁽¹⁾		(3,374	)		(3,361	)		(4,109	)		(3,974	)
Total operating expenses		(14,941	)		(10,362	)		(13,180	)		(13,395	)
Operating loss		(10,214	)		(5,631	)		(5,991	)		(4,704	)
Interest expense		(7	)		(3	)		(3	)		(9	)
Other income/(expense)		4			4			7			2
Loss before income taxes		(10,217	)		(5,630	)		(5,987	)		(4,711	)
Income tax benefit (expense)		(10	)		(11	)		(10	)		(7	)
Net loss	$	(10,227	)	$	(5,641	)	$	(5,997	)	$	(4,718	)
Net loss per common share:
Basic	$	(0.48	)	$	(0.26	)	$	(0.26	)	$	(0.19	)
Diluted	$	(0.48	)	$	(0.26	)	$	(0.26	)	$	(0.19	)
Weighted-average common shares:
Basic		21,503,643			21,623,509			22,734,335			24,860,738
Diluted		21,503,643			21,623,509			22,734,335			24,860,738

(in thousands, except per share data)	Quarter ended
	September 30,			December 31,			March 31,			June 30,
	2019			2019			2020			2020
Revenues	$	3,250		$	3,259		$	3,877		$	3,877
Cost of sales		(619	)		(846	)		(634	)		(874	)
Gross profit		2,631			2,413			3,243			3,003
BARDA income		2,051			386			1,008			481
Operating Expenses:
Sales and marketing expenses⁽¹⁾		(3,099	)		(3,972	)		(4,375	)		(4,260	)
General and administrative expenses ⁽¹⁾		(3,422	)		(7,107	)		(12,787	)		(9,709	)
Research and development expenses ⁽¹⁾		(1,819	)		(2,312	)		(2,495	)		(2,538	)
Total operating expenses		(8,340	)		(13,391	)		(19,657	)		(16,507	)
Operating loss		(3,658	)		(10,592	)		(15,406	)		(13,023	)
Interest expense		(11	)		(9	)		(5	)		(8	)
Other income/(expense)		103			99			363			121
Loss before income taxes		(3,566	)		(10,502	)		(15,048	)		(12,910	)
Income tax benefit (expense)		0			0			0			(4	)
Net loss	$	(3,566	)	$	(10,502	)	$	(15,048	)	$	(12,914	)
Net loss per common share:
Basic	$	(0.19	)	$	(0.53	)	$	(0.71	)	$	(0.60	)
Diluted	$	(0.19	)	$	(0.53	)	$	(0.71	)	$	(0.60	)
Weighted-average common shares:
Basic		18,719,857			19,877,676			21,215,246			21,372,892
Diluted		18,719,857			19,877,676			21,215,246			21,372,892

(1)

such change in presentation of prior period amounts in the Statement of Operations is not material to the consolidated financial statements. The following amounts have been reclassified in each of the quarters.

	Quarter-ended September 30, 2019									Quarter-ended December 31, 2019									Quarter-ended March 31, 2020
(in thousands)	As previously reported			Amount reclassified			As Reported			As previously reported			Amount reclassified			As Reported			As previously reported			Amount reclassified			As Reported
Sales and marketing expense	$	(2,962	)	$	(137	)	$	(3,099	)	$	(3,738	)	$	(234	)	$	(3,972	)	$	(4,162	)	$	(213	)	$	(4,375	)
General and administrative expense		(3,071	)		(351	)		(3,422	)		(4,558	)		(2,549	)		(7,107	)		(4,145	)		(8,642	)		(12,787	)
Research and development expense		(1,635	)		(184	)		(1,819	)		(2,192	)		(120	)		(2,312	)		(2,302	)		(193	)		(2,495	)
Share-based compensation		(672	)		672			-			(2,903	)		2,903			-			(9,048	)		9,048			-
Total operating expenses		(8,340	)		-			(8,340	)		(13,391	)		-			(13,391	)		(19,657	)		-			(19,657	)
Operating loss		(3,658	)		-			(3,658	)		(10,592	)		-			(10,592	)		(15,406	)		-			(15,406	)
Loss before income taxes		(3,566	)		-			(3,566	)		(10,502	)		-			(10,502	)		(15,048	)		-			(15,048	)
Net Loss		(3,566	)		-			(3,566	)		(10,502	)		-			(10,502	)		(15,048	)		-			(15,048	)

	Quarter-ended June 30, 2020									Quarter-ended September 30, 2020
(in thousands)	As previously reported			Amount reclassified			As Reported			As previously reported			Amount reclassified			As Reported
Sales and marketing expense	$	(3,951	)	$	(309	)	$	(4,260	)	$	(2,935	)	$	(330	)	$	(3,265	)
General and administrative expense		(6,361	)		(3,348	)		(9,709	)		(5,536	)		(2,766	)		(8,302	)
Research and development expense		(2,332	)		(206	)		(2,538	)		(3,204	)		(170	)		(3,374	)
Share-based compensation		(3,863	)		3,863			-			(3,266	)		3,266			-
Total operating expenses		(16,507	)		-			(16,507	)		(14,941	)		-			(14,941	)
Operating loss		(13,023	)		-			(13,023	)		(10,214	)		-			(10,214	)
Loss before income taxes		(12,910	)		-			(12,910	)		(10,217	)		-			(10,217	)
Net Loss		(12,914	)		-			(12,914	)		(10,227	)		-			(10,227	)

Subsequent Events

12 Months Ended

Jun. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

19. Subsequent Events

The Company has considered all events occurring subsequent to June 30, 2021 and has concluded that all significant events have been disclosed in the financial statements and accompanying notes.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Reclassification

	Year-ended June 30, 2020									Year-ended June 30, 2019
	As previously reported			Amount reclassified			As Reported			As previously reported			Amount reclassified			As Reported
Sales and marketing expense	$	(14,813	)	$	(893	)	$	(15,706	)	$	(12,253	)	$	(296	)	$	(12,549	)
General and administrative expense		(18,135	)		(14,890	)		(33,025	)		(13,581	)		(1,518	)		(15,099	)
Research and development expense		(8,461	)		(703	)		(9,164	)		(7,872	)		(132	)		(8,004	)
Share-based compensation		(16,486	)		16,486			-			(1,946	)		1,946			-
Total operating expenses		(57,895	)		-			(57,895	)		(35,652	)		-			(35,652	)
Operating loss		(42,679	)		-			(42,679	)		(25,528	)					(25,528	)
Loss before income taxes		(42,026	)		-			(42,026	)		(25,223	)		-			(25,223	)
Net Loss		(42,030	)		-			(42,030	)		(25,102	)		-			(25,102	)

Principles of Consolidation

Use of Estimates

Foreign Currency Translation and Foreign Currency Transactions

Comprehensive Income (Loss)

Revenue Recognition

To determine revenue recognition for arrangements that are within the scope of Topic 606, the Company performs the following five steps:

1.	Identify the contract with a customer

2.	Identify the performance obligations

3.	Determine the transaction price

4.	Allocate the transaction price to the performance obligations

5.	Recognize revenue when/as performance obligation(s) are satisfied

Contract Liabilities

Cost of Sales

Income Taxes

Cash and Cash Equivalents

Restricted Cash

Concentrations

	As of June 30, 2021		As of June 30, 2020
BARDA procurement and emergency preparedness services	$	3,583	$	—
BARDA expense reimbursements		353		356
Total	$	3,936	$	356

Fair Value of Financial Instruments

Accounts Receivable

A rollforward of the activity in the Company’s allowance for doubtful account is as follows (in thousands):

	June 30,
	2021		2020			2019
Allowance for doubtful accounts at beginning of year	$	18	$	18		$	17
Bad debt expense		12		43			6
Deductions		-		(43	)		(5	)
Allowance for doubtful accounts, at end of year	$	30	$	18		$	18

BARDA Income and Receivables

Inventory

Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and costs to complete the sale.

Leases

Property, Plant and Equipment

payroll-related expenses for employees who are directly associated with the application development. Maintenance and repairs are expensed as incurred.

Intangible Assets

Impairment of Long-Lived Assets

Sales and Marketing Expenses

Research and Development Expenses

Stock-Based Compensation

The following assumptions were used in the valuation of stock options.

•

Expected dividends - based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future

•

Risk-free interest rate – the risk-free interest rate is based on the U.S. Treasury yield in effect at the time of grant for a period approximately equal to the expected term of the award.

Loss per Share

Segment Reporting

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Summary of Reclassification of Share-based Compensation Expense

	Year-ended June 30, 2020									Year-ended June 30, 2019
	As previously reported			Amount reclassified			As Reported			As previously reported			Amount reclassified			As Reported
Sales and marketing expense	$	(14,813	)	$	(893	)	$	(15,706	)	$	(12,253	)	$	(296	)	$	(12,549	)
General and administrative expense		(18,135	)		(14,890	)		(33,025	)		(13,581	)		(1,518	)		(15,099	)
Research and development expense		(8,461	)		(703	)		(9,164	)		(7,872	)		(132	)		(8,004	)
Share-based compensation		(16,486	)		16,486			-			(1,946	)		1,946			-
Total operating expenses		(57,895	)		-			(57,895	)		(35,652	)		-			(35,652	)
Operating loss		(42,679	)		-			(42,679	)		(25,528	)					(25,528	)
Loss before income taxes		(42,026	)		-			(42,026	)		(25,223	)		-			(25,223	)
Net Loss		(42,030	)		-			(42,030	)		(25,102	)		-			(25,102	)

Summary of Other Receivables

See table below for breakdown of BARDA receivables (in thousands).

	As of June 30, 2021		As of June 30, 2020
BARDA procurement and emergency preparedness services	$	3,583	$	—
BARDA expense reimbursements		353		356
Total	$	3,936	$	356

Summary of Allowance For Doubtful Account

A rollforward of the activity in the Company’s allowance for doubtful account is as follows (in thousands):

	June 30,
	2021		2020			2019
Allowance for doubtful accounts at beginning of year	$	18	$	18		$	17
Bad debt expense		12		43			6
Deductions		-		(43	)		(5	)
Allowance for doubtful accounts, at end of year	$	30	$	18		$	18

Leases (Tables)

12 Months Ended

Jun. 30, 2021

Leases [Abstract]

Summary Of Lease Cost

The following table sets forth the Company’s operating lease expenses which are included in general and administrative expenses in the consolidated statements of operations (in thousands):

	Year ended June 30,
	2021		2020		2019
Operating lease cost	$	731	$	701	$	-
Variable lease cost		48		47		-
Total lease cost	$	779	$	748	$	-

Summary Of Supplemental Cash Flow Information Related To Operating Leases

Supplemental cash flow information related to operating leases was as follows (in thousands):

	Year ended June 30,
	2021		2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	735	$	675	$	-

Summary Of Supplemental Balance Sheet Information Related To Operating Leases

Supplemental balance sheet information, related to operating leases was as follows (in thousands):

	As of June 30, 2021			As of June 30, 2020
Reported as:
Operating lease right-of-use assets	$	1,480		$	2,347
Total right-of-use assets	$	1,480		$	2,347

Other current liabilities:
Operating lease liabilities, short-term	$	702		$	533
Operating lease liabilities, long term		878			1,917
Total operating lease liabilities	$	1,580		$	2,450
Operating lease weighted average remaining lease term (years)		2.67		3.91
Operating lease weighted average discount rate		6.70	%		7.50	%

Summary Of Maturities Of The Company's Operating Lease Liabilities

As of June 30, 2021, maturities of the Company’s operating lease liabilities are as follows (in thousands):

	Operating Leases
2022	$	784
2023		428
2024		413
2025		105
Total lease payments	$	1,730
Less imputed interest		(150	)
Total operating lease liabilities	$	1,580

Inventory (Tables)

12 Months Ended

Jun. 30, 2021

Inventory Disclosure [Abstract]

Summary Of Composition Of Inventories

The composition of inventories is as follows (in thousands):

	June 30,
	2021		2020
Raw materials	$	982	$	947
Work in process		241		—
Finished goods		424		178
Total inventory	$	1,647	$	1,125

Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Summary Of Composition Of Intangible Assets

The composition of intangible assets is as follows (in thousands):

		As of June 30, 2021							As of June 30, 2020
	Weighted Average Life	Gross Amount		Accumulated Amortization			Net Carry Amount		Gross Amount		Accumulated Amortization			Net Carry Amount
Patent 1	3	$	264	$	(190	)	$	74	$	235	$	(101	)	$	134
Patent 2	14		138		(16	)		122		74		(9	)		65
Patent 3	15		163		(19	)		144		125		(9	)		116
Patent 5	20		46		(2	)		44		26		-			26
Patent 6	20		39		(1	)		38		-		-			-
Patent 8	20		3		-			3		-		-			-
Trademarks	Indefinite		47		-			47		23		-			23
Total intangible assets		$	700	$	(228	)	$	472	$	483	$	(119	)	$	364

Summary Of Future Amortization Of Amortizable Intangible Assets Held

The Company expects the future amortization of amortizable intangible assets held at June 30, 2021 to be (in thousands):

	Estimated Amortization Expense
2022		$	89
2023			28
2024			28
2025			28
2026			28
Thereafter			224
Total		$	425

Property and Equipment, net (Tables)

12 Months Ended

Jun. 30, 2021

Property Plant And Equipment [Abstract]

Summary Of Composition Of Property And Equipment

The composition of property and equipment, net is as follows (in thousands):

	Useful Lives	As of June 30, 2021			As of June 30, 2020
Computer equipment	3 years	$	722		$	802
Computer software	3 years		775			369
Construction in progress			48			138
Furniture and fixtures	7 years		440			425
Laboratory equipment	5 years		523			194
Leasehold improvements	Lesser of life or lease term		242			216
RECELL Moulds	5 years		129			100
Less: accumulated amortization and depreciation			(1,421	)		(881	)
Total plant and equipment, net		$	1,458		$	1,363

Prepaids and Other Current Assets and Other Long-Term Assets (Tables)

12 Months Ended

Jun. 30, 2021

Prepaids And Other Current Assets And Other Long Term Assets [Abstract]

Summary of Prepaids and Other Current Assets

Prepaids and other current assets consisted of the following (in thousands):

	As of June 30, 2021		As of June 30, 2020
Prepaid expenses	$	853	$	792
Lease deposits		-		123
Other receivables		480		75
Total prepaids and other current assets	$	1,333	$	990

Summary of Other Long Term Assets

Other long-term assets consisted of the following (in thousands):

	As of June 30, 2021		As of June 30, 2020
BARDA contract costs	$	613	$	—
Long-term lease deposits		126		1
Long-term prepaids		22		—
Total other long-term assets	$	761	$	1

Reporting Segment and Geographic Information (Tables)

12 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Schedule Of Revenue By Region and Customer Type/Cost of Sales By Customer Type

Revenue by region for the years ended June 30, 2021, 2020 and 2019 were as follows (in thousands):

	June 30,
	2021		2020		2019
Revenue:
United States	$	28,955	$	13,800	$	4,404
Foreign:
Australia		207		292		806
United Kingdom		70		171		264
Total	$	29,232	$	14,263	$	5,474

Revenue by Customer type for the years ended June 30, 2021, 2020 and 2019 were as follows (in thousands):

	June 30,
	2021		2020		2019
Revenue:
Commercial sales	$	21,483	$	14,263	$	5,474
BARDA:
Product sales		7,595		—		—
Services for emergency preparedness		154		—		—
Total	$	29,232	$	14,263	$	5,474

Cost of sales by Customer type for the years ended June 30, 2021, 2020 and 2019 were as follows (in thousands):

	June 30,
	2021		2020		2019
Cost of sales
Commercial cost	$	3,931	$	2,973	$	1,271
BARDA:
Product cost		1,889		—		—
Emergency preparedness service cost		129		—		—
Total	$	5,949	$	2,973	$	1,271

Share-Based Payment Plans (Tables)

12 Months Ended

Jun. 30, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary Of Company Share Based Award Plans

The following table summarizes information about the Company’s share-based award plans as of June 30, 2021:

	Outstanding Options		Outstanding Restricted Stock Units		Shares available for future issuance
2016 Plan		1,058,295		-		-
RSU Awards		-		95,014		-
2020 Plan		435,200		5,000		1,309,800

Summary Of Stock-based Compensation Is Reflected In The Statements Of Operations

	Year ended June 30,
	2021		2020		2019
Sales and marketing expenses	$	925	$	893	$	296
General and administrative expenses		4,095		14,890		1,518
Research and development expenses		644		703		132
Total	$	5,664	$	16,486	$	1,946

Summary Of Share Option Activity

A summary of share option activity as of June 30, 2021 and changes during the year then ended is presented below:

	Service Only Share Options			Performance Based Share Options			Total Share Options			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding shares at June 30, 2020		904,353			356,171			1,260,524		$	14.72		8.42	$	22,185,034
Granted		229,500			207,500			437,000			21.37
Exercised		(13,859	)		(500	)		(14,359	)		7.77
Expired		(20,690	)		(45,002	)		(65,692	)		36.44
Forfeited		(101,478	)		(22,500	)		(123,978	)		29.45
Outstanding shares at June 30, 2021		997,826			495,669			1,493,495			14.53		7.99		12,233,949
Exercisable at June 30, 2021		449,599			283,769			733,368		$	8.97		7.06	$	9,412,064

Summary Of Grant-date Fair Value Of Share Options

	Year Ended June 30,
	2021			2020			2019
Expected volatility	65% - 80%			75% - 90%				90	%
Weighted-average volatility		73	%		88	%		90	%
Expected dividends		0	%		0	%		0	%
Expected term (in years)	5 - 10			10			10
Risk-free interest rate	0.77% - 1.64%			0.68% - 2.65%			1.50% - 2.65%

Non Option Restricted Stock Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary Of Share Option Activity

A summary of the status of the Company’s unvested RSUs as of June 30, 2021, and changes that occurred during the year is presented below:

Unvested Shares	Service Condition RSU			Performance Condition RSU			Total RSU's			Weighted Average Grant Date Fair Value per Unit
Unvested RSUs outstanding at June 30, 2020		95,013			244,346			339,359		$	30.70
Granted		-			5,000			5,000			22.65
Vested		(47,506	)		(151,837	)		(199,343	)		24.62
Forfeited		-			(45,002	)		(45,002	)		40.04
Unvested RSUs outstanding at June 30, 2021		47,507			52,507			100,014		$	38.17

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Geographic Sources of Income (Loss) From Continuing Operations

Geographic sources of income (loss) from continuing operations before income taxes are as follows:

	Year Ended			Year Ended			Year Ended
(amounts in thousands)	June 30, 2021			June 30, 2020			June 30, 2019
United States	$	(26,478	)	$	(20,793	)	$	(19,899	)
Foreign		(67	)		(21,233	)		(5,324	)
Income (loss) from continuing operations before income taxes	$	(26,545	)	$	(42,026	)	$	(25,223	)

Summary Of Income Tax Benefit (Expense)

The income tax benefit (expense) as shown in the accompanying consolidated statements of operations includes the following:

	Year Ended		Year Ended		Year Ended
(amounts in thousands)	June 30, 2021		June 30, 2020		June 30, 2019
Current:
Federal	$	—	$	—	$	—
State		38		4		—
Foreign		—		—		(121	)
		38		4		(121	)
Deferred:
Federal		—		—		—
State		—		—		—
Foreign		—		—		—
		—		—		—
Total Income Tax Expense (Benefit)	$	38	$	4	$	(121	)

Summary Of Provision For Income Taxes

(amounts in thousands)	Year Ended June 30, 2021			Year Ended June 30, 2020			Year Ended June 30, 2019
Tax expense (benefit) at U.S. statutory rate	$	(5,574	)	$	(8,827	)	$	(5,297	)
State income taxes		36			4			—
Foreign rate differential		(5	)		(1,389	)		(299	)
Tax Credits		—			—			(121	)
Share-based compensation		(27	)		(3,794	)		535
Permanent differences		233			669			84
Change in tax rate		—			—			—
Net change in valuation allowance		5,375			13,341			4,977
Income tax expense (benefit)	$	38		$	4		$	(121	)

Summary Of Deferred Income Tax

A summary of deferred income tax assets is as follows (in thousands):

	Year Ended June 30, 2021			Year Ended June 30, 2020
Deferred tax liabilities
ROU Asset	$	(389	)	$	(608	)
Property, plant and equipment		(5	)
Total deferred tax liabilities	$	(394	)	$	(608	)
Deferred tax assets
Property, plant and equipment	$	—		$	17
Accrued expenses		686			564
Intangible assets		262			255
Stock based compensation		3,215			2,996
Lease liability		415			634
Net operating loss carryforward		44,282			37,756
Other		609			285
Total deferred tax assets	$	49,469		$	42,507
Less valuation allowance		(49,075	)		(41,899	)
Net deferred tax assets	$	394		$	608
Net deferred tax assets / (liabilities)	$	—		$	—

Loss Per Share (Tables)

12 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Summary Of Reconciliation Of The Basic And Diluted Loss Per Share

The following is a reconciliation of the basic and diluted loss per share computations:

	Year Ended June 30,
	2021		2020		2019
	(in thousands, except per share amounts)
Net Loss	$	26,583	$	42,030	$	25,102
Weighted-average common shares—outstanding, basic		22,674		20,291		16,065
Weighted-average common shares—outstanding, diluted		22,674		20,291		16,065
Net loss per common share, basic	$	1.17	$	2.07	$	1.56
Net loss per common share, diluted	$	1.17	$	2.07	$	1.56

Deed of Cross Guarantee (Tables)

12 Months Ended

Jun. 30, 2021

Guarantees [Abstract]

Consolidated Income Statement Of The Parties To The Deed

	Year Ended June 30,
(in thousands)	2021
Revenues	$	380
Cost of sales		(75	)
Gross profit		305
Operating Expenses:
Sales and marketing expenses		(208	)
General and administrative expenses		(182	)
Product development expense		1
Total operating expenses		(389	)
Other Income		3
Net loss	$	(81	)

Consolidated Balance Sheet Of The Parties To The Deed

	As of June 30,
(in thousands)	2021
ASSETS
Cash	$	223
Accounts receivable, net		5
Prepaids and other current assets		2,312
Inventory		32
Total assets		2,572
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued liabilities		12
Accrued wages and fringe benefits		84
Other current liabilities		2,455
Total liabilities		2,551
Contributed equity		232,747
Reserves		31,803
Accumulated deficit		(264,529	)
Total stockholders' equity (deficit)		21
Total liabilities and stockholders' equity (deficit)	$	2,572

Quarterly Results (Unaudited) (Tables)

12 Months Ended

Jun. 30, 2021

Quarterly Financial Data [Abstract]

Disclosure Detail Of Quarterly Financial Information

(in thousands, except per share data)	Quarter ended
	September 30,			December 31,			March 31,			June 30,
	2020			2020			2021			2021
Revenues	$	5,060		$	5,103		$	8,765		$	10,304
Cost of sales		(929	)		(821	)		(2,146	)		(2,053	)
Gross profit		4,131			4,282			6,619			8,251
BARDA income		596			449			570			440
Operating Expenses:
Sales and marketing expenses⁽¹⁾		(3,265	)		(3,600	)		(3,649	)		(4,146	)
General and administrative expenses ⁽¹⁾		(8,302	)		(3,401	)		(5,422	)		(5,275	)
Research and development expenses ⁽¹⁾		(3,374	)		(3,361	)		(4,109	)		(3,974	)
Total operating expenses		(14,941	)		(10,362	)		(13,180	)		(13,395	)
Operating loss		(10,214	)		(5,631	)		(5,991	)		(4,704	)
Interest expense		(7	)		(3	)		(3	)		(9	)
Other income/(expense)		4			4			7			2
Loss before income taxes		(10,217	)		(5,630	)		(5,987	)		(4,711	)
Income tax benefit (expense)		(10	)		(11	)		(10	)		(7	)
Net loss	$	(10,227	)	$	(5,641	)	$	(5,997	)	$	(4,718	)
Net loss per common share:
Basic	$	(0.48	)	$	(0.26	)	$	(0.26	)	$	(0.19	)
Diluted	$	(0.48	)	$	(0.26	)	$	(0.26	)	$	(0.19	)
Weighted-average common shares:
Basic		21,503,643			21,623,509			22,734,335			24,860,738
Diluted		21,503,643			21,623,509			22,734,335			24,860,738

(in thousands, except per share data)	Quarter ended
	September 30,			December 31,			March 31,			June 30,
	2019			2019			2020			2020
Revenues	$	3,250		$	3,259		$	3,877		$	3,877
Cost of sales		(619	)		(846	)		(634	)		(874	)
Gross profit		2,631			2,413			3,243			3,003
BARDA income		2,051			386			1,008			481
Operating Expenses:
Sales and marketing expenses⁽¹⁾		(3,099	)		(3,972	)		(4,375	)		(4,260	)
General and administrative expenses ⁽¹⁾		(3,422	)		(7,107	)		(12,787	)		(9,709	)
Research and development expenses ⁽¹⁾		(1,819	)		(2,312	)		(2,495	)		(2,538	)
Total operating expenses		(8,340	)		(13,391	)		(19,657	)		(16,507	)
Operating loss		(3,658	)		(10,592	)		(15,406	)		(13,023	)
Interest expense		(11	)		(9	)		(5	)		(8	)
Other income/(expense)		103			99			363			121
Loss before income taxes		(3,566	)		(10,502	)		(15,048	)		(12,910	)
Income tax benefit (expense)		0			0			0			(4	)
Net loss	$	(3,566	)	$	(10,502	)	$	(15,048	)	$	(12,914	)
Net loss per common share:
Basic	$	(0.19	)	$	(0.53	)	$	(0.71	)	$	(0.60	)
Diluted	$	(0.19	)	$	(0.53	)	$	(0.71	)	$	(0.60	)
Weighted-average common shares:
Basic		18,719,857			19,877,676			21,215,246			21,372,892
Diluted		18,719,857			19,877,676			21,215,246			21,372,892

(1)

	Quarter-ended September 30, 2019									Quarter-ended December 31, 2019									Quarter-ended March 31, 2020
(in thousands)	As previously reported			Amount reclassified			As Reported			As previously reported			Amount reclassified			As Reported			As previously reported			Amount reclassified			As Reported
Sales and marketing expense	$	(2,962	)	$	(137	)	$	(3,099	)	$	(3,738	)	$	(234	)	$	(3,972	)	$	(4,162	)	$	(213	)	$	(4,375	)
General and administrative expense		(3,071	)		(351	)		(3,422	)		(4,558	)		(2,549	)		(7,107	)		(4,145	)		(8,642	)		(12,787	)
Research and development expense		(1,635	)		(184	)		(1,819	)		(2,192	)		(120	)		(2,312	)		(2,302	)		(193	)		(2,495	)
Share-based compensation		(672	)		672			-			(2,903	)		2,903			-			(9,048	)		9,048			-
Total operating expenses		(8,340	)		-			(8,340	)		(13,391	)		-			(13,391	)		(19,657	)		-			(19,657	)
Operating loss		(3,658	)		-			(3,658	)		(10,592	)		-			(10,592	)		(15,406	)		-			(15,406	)
Loss before income taxes		(3,566	)		-			(3,566	)		(10,502	)		-			(10,502	)		(15,048	)		-			(15,048	)
Net Loss		(3,566	)		-			(3,566	)		(10,502	)		-			(10,502	)		(15,048	)		-			(15,048	)

	Quarter-ended June 30, 2020									Quarter-ended September 30, 2020
(in thousands)	As previously reported			Amount reclassified			As Reported			As previously reported			Amount reclassified			As Reported
Sales and marketing expense	$	(3,951	)	$	(309	)	$	(4,260	)	$	(2,935	)	$	(330	)	$	(3,265	)
General and administrative expense		(6,361	)		(3,348	)		(9,709	)		(5,536	)		(2,766	)		(8,302	)
Research and development expense		(2,332	)		(206	)		(2,538	)		(3,204	)		(170	)		(3,374	)
Share-based compensation		(3,863	)		3,863			-			(3,266	)		3,266			-
Total operating expenses		(16,507	)		-			(16,507	)		(14,941	)		-			(14,941	)
Operating loss		(13,023	)		-			(13,023	)		(10,214	)		-			(10,214	)
Loss before income taxes		(12,910	)		-			(12,910	)		(10,217	)		-			(10,217	)
Net Loss		(12,914	)		-			(12,914	)		(10,227	)		-			(10,227	)

The Company - Additional Information (Detail) $ in Thousands		3 Months Ended								12 Months Ended
	Jul. 31, 2020 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2021 USD ($) shares	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)
BARDA income	$ 1,600	$ 440	$ 570	$ 449	$ 596	$ 481	$ 1,008	$ 386	$ 2,051	$ 2,055	$ 3,926	$ 5,921
Description of stock exchange ratio										As a result, the Company became the sole shareholder of AVITA Medical and the new parent company of the AVITA Group. In conjunction with the Redomiciliation, an implicit consolidation or reverse split on a 1 for 100 basis was implemented whereby shareholders of AVITA Medical received one share of common stock in the Company for every 100 shares held in AVITA Medical.
Reverse stock split										reverse split on a 1 for 100 basis
Stock split conversion ratio										100
CHESS Depositary Interests
Stock split conversion ratio										0.05
Stockholders equity stock split										five CDIs in the Company for every 100 ordinary shares in AVITA Medical that were held by them
Numbers shares equivalent to one common share \| shares										5
American Depositary Shares
Stock split conversion ratio										5
Stockholders equity stock split										one share of common stock in the Company for every 5 ADSs in AVITA Medical that were held by them
BARDA \| RECELL system
Contract amount	$ 7,600
Number of Units Delivered	5,614									5,614

Summary of Significant Accounting Policies - Additional Information (Detail)		3 Months Ended					12 Months Ended
	Jul. 31, 2020	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2021 USD ($) PerformanceObligation	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Share-based compensation							$ 5,664,000	$ 16,486,000	$ 1,946,000
Loss on foreign currency transactions							$ (228,000)	(7,000)	(397,000)
Contract description							For revenues related to the BARDA contract with-in the scope of ASC 606, the Company identified two performance obligations (i) the procurement of 5,614 RECELL units, (ii) emergency preparedness services
Cash at deposit institutions			$ 73,600,000				$ 54,200,000	73,600,000
Cash in foreign institutions			466,000				273,000	466,000
Cash equivalents held			0				56,500,000	0
Restricted cash			201,000				$ 201,000	$ 201,000
Concentration risk, customer							0	0
Allowance for doubtful accounts			18,000				$ 30,000	$ 18,000	18,000	$ 17,000
Lease renewal period							3 years
Capitalized patent costs			483,000				$ 700,000	483,000
Impairments of long-lived assets							0	0	0
Advertising expense							$ 73,000	$ 51,000	$ 186,000
Contractual term							10 years	10 years	10 years
Revenue Benchmark
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, customer									one
Revenue Benchmark \| Customer Concentration Risk \| Commercial Customer
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage							26.00%	10.00%	10.50%
Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, customer									three
Accounts Receivable \| Customer Concentration Risk \| Commercial Customer
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage							10.00%	10.00%	10.00%
Accounts Receivable \| Customer Concentration Risk \| Customer One
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage									14.60%
Accounts Receivable \| Customer Concentration Risk \| Customer Two
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage									10.30%
Accounts Receivable \| Customer Concentration Risk \| Customer Three
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage									10.10%
Minimum
Summary Of Significant Accounting Policies [Line Items]
Revenue, performance obligation, description of payment terms							30 days
Remaining lease terms							1 year
Estimated useful lives of intangible assets							3 years
Contractual term							5 years
Minimum \| Property, Plant and Equipment
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of property plant and equipment							three years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Revenue, performance obligation, description of payment terms							90 days
Remaining lease terms							3 years
Estimated useful lives of intangible assets							20 years
Contractual term							10 years
Maximum \| Property, Plant and Equipment
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of property plant and equipment							seven years
BARDA
Summary Of Significant Accounting Policies [Line Items]
Number of performance obligations \| PerformanceObligation							2
Total transaction price of contract							$ 9,200,000
BARDA \| Accounts Receivable Revenue \| Customer Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage							91.00%
RECELL system \| BARDA
Summary Of Significant Accounting Policies [Line Items]
Number of units will be delivered	5,614
Transaction price allocated on a stand alone selling price basis							$ 7,600,000
Emergency Deployment \| BARDA
Summary Of Significant Accounting Policies [Line Items]
Transaction price allocated on a stand alone selling price basis							1,600,000
General and Administrative Expense
Summary Of Significant Accounting Policies [Line Items]
Loss on foreign currency transactions							(131,000)
General and Administrative Expense \| Non-US
Summary Of Significant Accounting Policies [Line Items]
Loss on foreign currency transactions							(97,000)	$ (7,000)	$ (397,000)
Revenue \| RECELL system \| BARDA
Summary Of Significant Accounting Policies [Line Items]
Transaction price allocated on a stand alone selling price basis							$ 1,600,000
Revision of Prior Period, Reclassification, Adjustment
Summary Of Significant Accounting Policies [Line Items]
Share-based compensation		$ (3,266,000)	$ (3,863,000)	$ (9,048,000)	$ (2,903,000)	$ (672,000)		$ (16,486,000)	$ (1,946,000)

Summary of Significant Accounting Policies - Summary of Reclassification of Share-based Compensation Expense (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2019

Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]

$ (4,146)

$ (3,649)

$ (3,600)

$ (3,265)

$ (4,260)

$ (4,375)

$ (3,972)

$ (3,099)

$ (14,660)

^[1]

$ (15,706)

^[1]

$ (12,549)

^[1]

(5,275)

(5,422)

(3,401)

(8,302)

(9,709)

(12,787)

(7,107)

(3,422)

(22,400)

^[1]

(33,025)

^[1]

(15,099)

^[1]

(3,974)

(4,109)

(3,361)

(3,374)

(2,538)

(2,495)

(2,312)

(1,819)

(14,818)

^[1]

(9,164)

^[1]

(8,004)

^[1]

(5,664)

(16,486)

(1,946)

(13,395)

(13,180)

(10,362)

(14,941)

(16,507)

(19,657)

(13,391)

(8,340)

(51,878)

(57,895)

(35,652)

(4,704)

(5,991)

(5,631)

(10,214)

(13,023)

(15,406)

(10,592)

(3,658)

(26,540)

(42,679)

(25,528)

(4,711)

(5,987)

(5,630)

(10,217)

(12,910)

(15,048)

(10,502)

(3,566)

(26,545)

(42,026)

(25,223)

As Previously Reported [Member]

$ (4,718)

$ (5,997)

$ (5,641)

(10,227)

(12,914)

(15,048)

(10,502)

(3,566)

$ (26,583)

(42,030)

(25,102)

Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]

(2,935)

(3,951)

(4,162)

(3,738)

(2,962)

(14,813)

(12,253)

(5,536)

(6,361)

(4,145)

(4,558)

(3,071)

(18,135)

(13,581)

(3,204)

(2,332)

(2,302)

(2,192)

(1,635)

(8,461)

(7,872)

(3,266)

(3,863)

(9,048)

(2,903)

(672)

(16,486)

(1,946)

(14,941)

(16,507)

(19,657)

(13,391)

(8,340)

(57,895)

(35,652)

(10,214)

(13,023)

(15,406)

(10,592)

(3,658)

(42,679)

(25,528)

(10,217)

(12,910)

(15,048)

(10,502)

(3,566)

(42,026)

(25,223)

Amount Reclassified [Member]

(10,227)

(12,914)

(15,048)

(10,502)

(3,566)

(42,030)

(25,102)

Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]

(330)

(309)

(213)

(234)

(137)

(893)

(296)

(2,766)

(3,348)

(8,642)

(2,549)

(351)

(14,890)

(1,518)

(170)

(206)

(193)

(120)

(184)

(703)

(132)

$ 3,266

$ 3,863

$ 9,048

$ 2,903

$ 672

$ 16,486

$ 1,946

[1]	Refer to Note 2 for reclassification of share-based compensation expense.

Summary of Significant Accounting Policies - Summary of Other Receivables (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Other Receivables Net Current [Abstract]
BARDA procurement and emergency preparedness services	$ 3,583
BARDA expense reimbursements	353	$ 356
Total	$ 3,936	$ 356

Summary of Significant Accounting Policies - Summary of Allowance for Doubtful Account (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Allowance For Credit Loss [Abstract]
Allowance for doubtful accounts at beginning of year	$ 18,000	$ 18,000	$ 17,000
Bad debt expense	12,000	43,000	6,000
Deductions		(43,000)	(5,000)
Allowance for doubtful accounts, at end of year	$ 30,000	$ 18,000	$ 18,000

Leases - Additional Information (Detail)	Nov. 30, 2020 USD ($)
Leases [Abstract]
Decrease In Operating Lease ROU Assets And Operating Lease Liabilities	$ 563,000
Increase In Operating Lease ROU Assets And Operating Lease Liabilities	$ 236,000

Leases - Summary Of Lease Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Lease Cost [Abstract]
Operating lease cost	$ 731	$ 701
Variable lease cost	48	47
Total lease cost	$ 779	$ 748

Leases - Summary Of Supplemental Cash Flow Information Related To Operating Leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Disclosure Of Supplemental Cash Flow Information Related To Operating Leases [Abstract]
Operating cash outflows from operating leases	$ 735	$ 675

Leases - Summary Of Supplemental Balance Sheet Information Related To Operating Leases (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Disclosure Of Supplemental Balance Sheet Information Related To Operating Leases [Abstract]
Operating lease right-of-use assets	$ 1,480	$ 2,347
Total right-of-use assets	1,480	2,347
Operating lease liabilities, short-term	$ 702	$ 533
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	rcel:OperatingLeaseLiabilityCurrentMember	rcel:OperatingLeaseLiabilityCurrentMember
Operating lease liabilities, long term	$ 878	$ 1,917
Total operating lease liabilities	$ 1,580	$ 2,450
Operating lease weighted average remaining lease term (years)	2 years 8 months 1 day	3 years 10 months 28 days
Operating lease weighted average discount rate	6.70%	7.50%

Leases - Summary Of Maturities Of The Company's Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Operating Lease Liabilities Payments Due [Abstract]
2022	$ 784
2023	428
2024	413
2025	105
Total lease payments	1,730
Less imputed interest	(150)
Total operating lease liabilities	$ 1,580	$ 2,450

Inventory - Summary Of Composition Of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 982	$ 947
Work in process	241
Finished goods	424	178
Total inventory	$ 1,647	$ 1,125

Inventory - Additional Information (Detail) - USD ($)	12 Months Ended
Inventory - Additional Information (Detail) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Inventory Disclosure [Abstract]
Inventory impairments	$ 226,000	$ 84,000	$ 89,000

Intangible Assets - Summary Of Composition Of Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 700	$ 483
Finite Lived Intangible Assets, Accumulated Amortization	(228)	(119)
Finite Lived Intangible Assets, Net Carrying Amount	425
Intangible Assets, Net (Excluding Goodwill)	472	364
Trademarks
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 47	23
Patent 1
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years
Finite Lived Intangible Assets, Gross Amount	$ 264	235
Finite Lived Intangible Assets, Accumulated Amortization	(190)	(101)
Finite Lived Intangible Assets, Net Carrying Amount	$ 74	134
Patent 2
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	14 years
Finite Lived Intangible Assets, Gross Amount	$ 138	74
Finite Lived Intangible Assets, Accumulated Amortization	(16)	(9)
Finite Lived Intangible Assets, Net Carrying Amount	$ 122	65
Patent 3
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years
Finite Lived Intangible Assets, Gross Amount	$ 163	125
Finite Lived Intangible Assets, Accumulated Amortization	(19)	(9)
Finite Lived Intangible Assets, Net Carrying Amount	$ 144	116
Patent 5
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	20 years
Finite Lived Intangible Assets, Gross Amount	$ 46	26
Finite Lived Intangible Assets, Accumulated Amortization	(2)
Finite Lived Intangible Assets, Net Carrying Amount	$ 44	$ 26
Patent 6
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	20 years
Finite Lived Intangible Assets, Gross Amount	$ 39
Finite Lived Intangible Assets, Accumulated Amortization	(1)
Finite Lived Intangible Assets, Net Carrying Amount	$ 38
Patent 8
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	20 years
Finite Lived Intangible Assets, Gross Amount	$ 3
Finite Lived Intangible Assets, Net Carrying Amount	$ 3

Intangible Assets - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Impairment of intangible assets	$ 0	$ 0	$ 0
Amortization of intangible assets	$ 109,000	$ 119,000	$ 0

Intangible Assets - Summary of Future Amortization of Amortizable Intangible assets held (Detail) $ in Thousands	Jun. 30, 2021 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2022	$ 89
2023	28
2024	28
2025	28
2026	28
Thereafter	224
Finite Lived Intangible Assets, Net Carrying Amount	$ 425

Property and Equipment, net - Summary Of Composition Of Property And Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Line Items]
Less: accumulated amortization and depreciation	$ (1,421)	$ (881)
Total plant and equipment, net	$ 1,458	1,363
Computer Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Property, Plant and Equipment, Gross	$ 722	802
Computer Software
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Property, Plant and Equipment, Gross	$ 775	369
Construction In Progress
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 48	138
Furniture And Fixtures
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Property, Plant and Equipment, Gross	$ 440	425
Laboratory Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Property, Plant and Equipment, Gross	$ 523	194
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Useful Lives	Lesser of life or lease term
Property, Plant and Equipment, Gross	$ 242	216
RECELL Moulds
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Property, Plant and Equipment, Gross	$ 129	$ 100

Property and Equipment, net - Additional Information (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Property Plant And Equipment [Abstract]
Depreciation	$ 606,000	$ 346,000	$ 269,000

Prepaids and Other Current Assets and Other Long-Term Assets - Summary of Prepaids and Other Current Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Prepaids And Other Current Assets And Other Long Term Assets [Abstract]
Prepaid expenses	$ 853	$ 792
Lease deposits		123
Other receivables	480	75
Total prepaids and other current assets	$ 1,333	$ 990

Prepaids and Other Current Assets and Other Long-Term Assets - Summary of Other Long Term Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Other Assets Noncurrent Disclosure [Abstract]
BARDA contract costs	$ 613
Long-term lease deposits	126	$ 1
Long-term prepaids	22
Total other long-term assets	$ 761	$ 1

Reporting Segment and Geographic Information - Additional Information (Details)	12 Months Ended
	Jun. 30, 2021 Segment
Segment Reporting [Abstract]
Number of reporting segment	1

Reporting Segment and Geographic Information - Schedule Of Revenue By Region and Customer Type/Cost of Sales By Customer Type (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Revenue:
Revenues	$ 10,304	$ 8,765	$ 5,103	$ 5,060	$ 3,877	$ 3,877	$ 3,259	$ 3,250	$ 29,232	$ 14,263	$ 5,474
Cost of sales
Cost of sales	$ 2,053	$ 2,146	$ 821	$ 929	$ 874	$ 634	$ 846	$ 619	5,949	2,973	1,271
Commercial Sales
Revenue:
Revenues									21,483	14,263	5,474
Product Sales
Revenue:
Revenues									7,595
Services For Emergency Preparedness
Revenue:
Revenues									154
Commercial Cost
Cost of sales
Cost of sales									3,931	2,973	1,271
Product Cost
Cost of sales
Cost of sales									1,889
Emergency Preparedness Service Cost
Cost of sales
Cost of sales									129
United States
Revenue:
Revenues									28,955	13,800	4,404
Foreign \| Australia
Revenue:
Revenues									207	292	806
Foreign \| United Kingdom
Revenue:
Revenues									$ 70	$ 171	$ 264

Contingencies - Additional Information (Detail)	Jun. 30, 2021 USD ($)
Threatened Litigation
Litigation liability	$ 0

Common and Preferred Stock - Additional Information (Detail) $ / shares in Units, $ in Thousands							12 Months Ended
	Mar. 01, 2021 USD ($) $ / shares shares	Jun. 29, 2020	Jan. 18, 2019 USD ($) $ / shares shares	Jan. 10, 2019 USD ($) $ / shares shares	Dec. 10, 2018 USD ($) $ / shares shares	Jul. 27, 2018 USD ($) $ / shares	Jun. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2020 USD ($) $ / shares shares	Jun. 30, 2019 USD ($) shares	Dec. 31, 2018 USD ($)
Class of Stock [Line Items]
Stock split conversion ratio							100
Reverse stock split							reverse split on a 1 for 100 basis
Common stock shares authorized							200,000,000	200,000,000
Common stock par value \| $ / shares							$ 0.0001	$ 0.0001
Preferred stock shares authorized							10,000,000	10,000,000
Preferred stock par value \| $ / shares							$ 0.0001	$ 0.0001
Common stock shares issued							24,895,864	21,467,912
Common stock shares outstanding							24,895,864	21,467,912
Preferred stock shares outstanding							0	0
Sale of stock issue price per share \| $ / shares						$ 3.70
Stock issued during period, value, new issues \| $							$ 69,106	$ 81,702	$ 32,454
Capital to be raised through private placement \| $										$ 28,800
Director Share Plan
Class of Stock [Line Items]
Stock shares issued in consideration of services								15,853
Private Placement
Class of Stock [Line Items]
Sale of stock issue price per share \| $ / shares								$ 40.17
Proceeds from private placement \| $								$ 81,700
Common stock shares issued during the period								2,033,898
Sale of stock consideration received on transaction \| $								$ 76,600
Private Placement \| Tranche One, June 2018
Class of Stock [Line Items]
Proceeds from private placement \| $						$ 2,400
Common stock shares issued during the period									650,000
Private Placement \| Tranche One, December 2018
Class of Stock [Line Items]
Sale of stock issue price per share \| $ / shares			$ 5.76		$ 5.76
Proceeds from private placement \| $			$ 10,900		$ 17,900
Common stock shares issued during the period			1,899,530		3,100,471
Private Placement \| Avita Share Purchase Plan
Class of Stock [Line Items]
Sale of stock issue price per share \| $ / shares				$ 5.74
Proceeds from private placement \| $				$ 1,300
Common stock shares issued during the period				220,612
Common Stock
Class of Stock [Line Items]
Stock issued during period, shares, new issues	3,214,250						3,214,250	2,033,898	5,870,613
Sale of stock issue price per share \| $ / shares	$ 21.50
Stock issued during period, value, new issues \| $	$ 69,100								$ 1
Capital issuance expenses \| $	$ 5,100
Common stock shares issued during the period								15,853
Shareholders Of Avita Medical
Class of Stock [Line Items]
Stock split conversion ratio		0.01
Reverse stock split							In conjunction with the Redomiciliation, an implicit consolidation or reverse split on a 1 for 100 basis was implemented whereby shareholders of AVITA Medical received one share of common stock in the Company for every 100 shares held in AVITA Medical.
Stockholders equity stock split							One share of common stock on NASDAQ is equivalent to five CDIs on the ASX.
Shareholders Of Avita Medical \| CDI
Class of Stock [Line Items]
Stock split conversion ratio		0.05
Reverse stock split							five CDIs in the Company for every 100 ordinary shares in AVITA Medical that were held by them
Shareholders Of Avita Medical \| Common Stock \| ADRS
Class of Stock [Line Items]
Stock split conversion ratio		0.05
Reverse stock split							one share of common stock in the Company for every 5 ADSs in AVITA Medical that were held by them.

Revenue - Additional Information (Detail)		12 Months Ended
Revenue - Additional Information (Detail)	Jul. 31, 2020	Jun. 30, 2021 USD ($) PerformanceObligation	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract description		For revenues related to the BARDA contract with-in the scope of ASC 606, the Company identified two performance obligations (i) the procurement of 5,614 RECELL units, (ii) emergency preparedness services
Capiitalized fulfilment costs		$ 613,000
Performance obligation estimated revenue expected to be recognised		1,100,000	$ 435,000	$ 429,000
Contract with customer assets		0	0
Contract with customers non current liability		1,075,000	435,000	429,000
Contract cost amortization		129,000
Contract cost impairment loss		0
Cost of Sales
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract cost amortization		129,000	0	0
Other Noncurrent Assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Capiitalized fulfilment costs		$ 613,000	0
BARDA
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract description		For the contract with BARDA, the Company identified two performance obligations (i) the procurement of 5,614 RECELL units, (ii) emergency preparedness services.
Number of performance obligations \| PerformanceObligation		2
BARDA \| Other Current Liabilities
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred cost current		$ 77,000
BARDA \| Other Long-term Liabilities
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred cost non current		266,000
BARDA \| RECELL system
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of units will be delivered	5,614
Product replacement obligation cost		0
Deferred cost		343,000	0
Services recognised		154,000	0	0
Performance obligation estimated revenue expected to be recognised		665,000
Revenue from performance obligation recognised		7,600,000	$ 0	$ 0
Japanese Pharmaceuticals and Medical Device Act Approval \| RECELL system
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation estimated revenue expected to be recognised		$ 435,000

Share-Based Payment Plans - Additional Information (Detail) - USD ($)		1 Months Ended		12 Months Ended
	Nov. 30, 2017	Jun. 30, 2020	Nov. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Nov. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation				$ 5,664,000	$ 16,486,000	$ 1,946,000
Income tax benefit (expense)				0	0	0
Proceeds from exercise of stock options				$ 63,000	$ 474,000	$ 252,000
Unrecognized share based compensation compensation expense relating to stock options weighted average period of recognition				10 months 13 days
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period				5,000
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number		339,359		100,014	339,359
Share based compensation by share based payment arrangement other than option weighted average grant date fair value				$ 22.65
Unrecognized share based compensation compensation expense relating to RSUs				$ 722,000
Unrecognized share based compensation compensation expense relating to RSUs in respect of nonvested awards determined not to be probable				$ 926,000
Performance Based Share Options \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number				47,507
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement other than option weighted average grant date fair value				$ 22.65	$ 39.12	$ 0
Share based compensation by share based payment arrangement other than options total fair value of shares vested					$ 4,900,000	$ 9,200,000	$ 0
Unrecognized share based compensation compensation expense relating to RSUs				$ 1,600,000
Tenure Based RSU Awards \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number				47,507
Two Thousand And Twenty Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement contractual term of awards				10 years
Share based compensation by share based payment arrangement vesting period				4 years
Two Thousand And Twenty Omnibus Incentive Plan [Member] \| Vesting Period One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting percentage				25.00%
Two Thousand And Twenty Omnibus Incentive Plan [Member] \| Vesting Period Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting percentage				25.00%
Two Thousand And Twenty Omnibus Incentive Plan [Member] \| Vesting Period Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting percentage				25.00%
Two Thousand And Twenty Omnibus Incentive Plan [Member] \| Vesting Period Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting percentage				25.00%
Two Thousand And Twenty Omnibus Incentive Plan [Member] \| Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement number of shares authorised for issuance								1,750,000
Employee Share Plan And Incentive Option Plan Two Thousand And Sixteen
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement weighted average grant date of fair value of options granted				$ 14.08	$ 26.56	$ 6.67
Share based compensation by share based payment arrangement intrinsic value of options exercised				$ 221,000	$ 3,100,000	$ 1,700,000
Proceeds from exercise of stock options				63,000	$ 474,000	$ 252,000
Unrecognized share based compensation compensation expense relating to stock options				7,000,000.0
Employee Share Plan And Incentive Option Plan Two Thousand And Sixteen \| Service Only
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share based compensation compensation expense relating to stock options				$ 4,500,000
Unrecognized share based compensation compensation expense relating to stock options weighted average period of recognition				1 year 6 months 25 days
Employee Share Plan And Incentive Option Plan Two Thousand And Sixteen \| Performance Based Share Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share based compensation compensation expense relating to stock options				$ 2,500,000
Unrecognized share based compensation compensation expense relating to stock options weighted average period of recognition				2 years 1 month 20 days
Employee Share Plan And Incentive Option Plan Two Thousand And Sixteen \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement contractual term of awards				10 years
Long Term Incentive Plan \| Restricted Stock Units (RSUs) \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period	500,000		395,542
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number		83,333		0	83,333
Long Term Incentive Plan \| Restricted Stock Units (RSUs) \| Chief Executive Officer \| Service Based Milestone
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting period		3 years
Tenure RSU awards to CEO		142,521			142,521
Long Term Incentive Plan \| Restricted Stock Units (RSUs) \| Chief Executive Officer \| Patient Visit For Treatment And Regulatory Approval
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Milestone performance awards to CEO on Nov 2019				253,021
Long Term Incentive Plan \| Restricted Stock Units (RSUs) \| Chief Executive Officer \| Patient Visit For Treatment And Regulatory Approval \| Share-based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of the milestone to be achieved for vesting of restricted stock awards			First patient visit for treatment in an FDA approved U.S pilot vitiligo trial by the Company prior to September 30, 2020. - Performance criteria was satisfied in the current year and award appropriately released
Long Term Incentive Plan \| Restricted Stock Units (RSUs) \| Chief Executive Officer \| Patient Visit For Treatment And Regulatory Approval \| Share-based Payment Arrangement, Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of the milestone to be achieved for vesting of restricted stock awards			FDA application submission for approval of the next generation RECELL device prior to June 30, 2021. – Satisfaction of the performance criteria is pending ratification by the Compensation Committee once this is approved by the Compensation Committee the awards will be released to the CEO
Long Term Incentive Plan \| Restricted Stock Units (RSUs) \| Chief Executive Officer \| Patient Visit For Treatment And Regulatory Approval \| Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of the milestone to be achieved for vesting of restricted stock awards			First patient visit for treatment in an FDA approved U.S. soft tissue and trauma trial by the Company prior to March 3, 2020. – Performance criteria was satisfied in the prior year
Long Term Incentive Plan \| Restricted Stock Units (RSUs) \| Chief Executive Officer \| Patient Visit For Treatment And Regulatory Approval \| Share-based Payment Arrangement, Tranche Five
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of the milestone to be achieved for vesting of restricted stock awards			FDA approval of the next generation RECELL device prior to June 30, 2022. – Performance criteria has been assessed as not probable
Long Term Incentive Plan \| Restricted Stock Units (RSUs) \| Chief Executive Officer \| Patient Visit For Treatment And Regulatory Approval \| Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of the milestone to be achieved for vesting of restricted stock awards			First patient visit for treatment in an FDA approved U.S pediatric trial by the Company prior to June 30, 2020. – Performance criteria was satisfied in the prior year

Share-Based Payment Plans - Summary Of Company Share Based Award Plans (Detail) - shares	Jun. 30, 2021	Jun. 30, 2020
Schedule Of Company Stock Based Award Plans [Line Items]
Outstanding Options	1,493,495	1,260,524
2020 Plan
Schedule Of Company Stock Based Award Plans [Line Items]
Outstanding Options	435,200
Outstanding Restricted Stock Units	5,000
Shares available for future issuance	1,309,800
Employee Stock Option \| 2016
Schedule Of Company Stock Based Award Plans [Line Items]
Outstanding Options	1,058,295
Restricted Stock
Schedule Of Company Stock Based Award Plans [Line Items]
Outstanding Restricted Stock Units	95,014

Share-Based Payment Plans - Summary Of Stock-based Compensation Is Reflected In The Statements Of Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	$ 5,664	$ 16,486	$ 1,946
Selling and Marketing Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	925	893	296
General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	4,095	14,890	1,518
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	$ 644	$ 703	$ 132

Share-Based Payment Plans - Summary Of Share Option Activity (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance	1,260,524
Granted	437,000
Exercised	(14,359)
Expired	(65,692)
Forfeited	(123,978)
Ending balance	1,493,495	1,260,524
Exercisable	733,368
Weighted Average exercise price beginning balance	$ 14.72
Weighted Average exercise price granted	21.37
Weighted Average exercise price exercised	7.77
Weighted Average exercise price expired	36.44
Weighted Average exercise price forfeited	29.45
Weighted Average exercise price ending balance	14.53	$ 14.72
Weighted Average exercise price exercisable	$ 8.97
Weighted average contractual term	7 years 11 months 26 days	8 years 5 months 1 day
Weighted average contractual term in exercisable	7 years 21 days
Aggregate intrinsic value	$ 12,233,949	$ 22,185,034
Aggregate intrinsic value of exercisable	$ 9,412,064
Service Only Share Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance	904,353
Granted	229,500
Exercised	(13,859)
Expired	(20,690)
Forfeited	(101,478)
Ending balance	997,826	904,353
Exercisable	449,599
Performance Based Share Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance	356,171
Granted	207,500
Exercised	(500)
Expired	(45,002)
Forfeited	(22,500)
Ending balance	495,669	356,171
Exercisable	283,769

Share-Based Payment Plans - Summary Of Grant-Date Fair Value Of Share Options (Detail)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Expected volatility			90.00%
Expected volatility minimum	65.00%	75.00%
Expected volatility maximum	80.00%	90.00%
Weighted-average volatility	73.00%	88.00%	90.00%
Expected dividends	0.00%	0.00%	0.00%
Contractual term	10 years	10 years	10 years
Risk-free interest rate minimum	0.77%	0.68%	1.50%
Risk-free interest rate maximum	1.64%	2.65%	2.65%
Minimum
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Contractual term	5 years
Maximum
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Contractual term	10 years

Share-Based Payment Plans - Summary Of Company Unvested RSUs (Detail)	12 Months Ended
	Jun. 30, 2021 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested RSUs beginning balance	339,359
Unvested RSUs granted	5,000
Unvested RSUs vested	(199,343)
Unvested RSUs forfeited	(45,002)
Unvested RSUs ending balance	100,014
Weighted average grant date fair value per unit beginning balance \| $ / shares	$ 30.70
Weighted average grant date fair value per unit granted \| $ / shares	22.65
Weighted average grant date fair value per unit vested \| $ / shares	24.62
Weighted average grant date fair value per unit forfeited \| $ / shares	40.04
Weighted average grant date fair value per unit ending balance \| $ / shares	$ 38.17
Non Options Service Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested RSUs beginning balance	95,013
Unvested RSUs vested	(47,506)
Unvested RSUs ending balance	47,507
Non Option Performance Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested RSUs beginning balance	244,346
Unvested RSUs granted	5,000
Unvested RSUs vested	(151,837)
Unvested RSUs forfeited	(45,002)
Unvested RSUs ending balance	52,507

Income Taxes - Geographic Sources of Income (Loss) From Continuing Operations (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
United States									$ (26,478)	$ (20,793)	$ (19,899)
Foreign									(67)	(21,233)	(5,324)
Loss before income taxes	$ (4,711)	$ (5,987)	$ (5,630)	$ (10,217)	$ (12,910)	$ (15,048)	$ (10,502)	$ (3,566)	$ (26,545)	$ (42,026)	$ (25,223)

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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Income Taxes - Summary of Income Tax Benefit (Expense) (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Current:
State									$ 38	$ 4
Foreign											$ (121)
Current income tax expense (benefit)									38	4	(121)
Deferred:
Total Income Tax Expense (Benefit)	$ 7	$ 10	$ 11	$ 10	$ 4	$ 0	$ 0	$ 0	$ 38	$ 4	$ (121)

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Summary of Provision For Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Tax expense (benefit) at U.S. statutory rate									$ (5,574)	$ (8,827)	$ (5,297)
State income taxes									36	4
Foreign rate differential									(5)	(1,389)	(299)
Tax Credits											(121)
Share-based compensation									(27)	(3,794)	535
Permanent differences									233	669	84
Net change in valuation allowance									5,375	13,341	4,977
Total Income Tax Expense (Benefit)	$ 7	$ 10	$ 11	$ 10	$ 4	$ 0	$ 0	$ 0	$ 38	$ 4	$ (121)

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Summary of Provision For Income Taxes (Parenthetical) (Detail)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21.00%	21.00%	21.00%	28.00%	21.00%

Income Taxes - Summary of Deferred Income Tax (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Deferred tax liabilities
ROU Asset	$ (389)	$ (608)
Property, plant and equipment	(5)
Total deferred tax liabilities	(394)	(608)
Deferred tax assets
Property, plant and equipment		17
Accrued expenses	686	564
Intangible assets	262	255
Stock based compensation	3,215	2,996
Lease liability	415	634
Net operating loss carryforward	44,282	37,756
Other	609	285
Total deferred tax assets	49,469	42,507
Less valuation allowance	(49,075)	(41,899)
Net deferred tax assets	394	608
Net deferred tax assets / (liabilities)

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Line Items]
Deferred tax assets valuation allowance	$ 49,075,000	$ 41,899,000
Unrecognized income tax benefits	$ 0	$ 0
Federal statutory income tax rate	21.00%	21.00%	21.00%	28.00%	21.00%
Tax Cut And Jobs Act
Income Tax Disclosure [Line Items]
Percentage of tax amount likely to be realised	50.00%	50.00%	50.00%
Tax Year 2026 through 2038
Income Tax Disclosure [Line Items]
Net operating loss carryforwards	$ 21,700,000
Earliest Tax Year
Income Tax Disclosure [Line Items]
Open tax year	2026
Latest Tax Year
Income Tax Disclosure [Line Items]
Open tax year	2038
Internal Revenue Service (IRS)
Income Tax Disclosure [Line Items]
Net operating loss carryforwards	$ 111,800,000
State and Local Jurisdiction
Income Tax Disclosure [Line Items]
Net operating loss carryforwards	66,500,000
Her Majesty's Revenue and Customs (HMRC)
Income Tax Disclosure [Line Items]
Net operating loss carryforwards	32,800,000
Australian Taxation Office
Income Tax Disclosure [Line Items]
Net operating loss carryforwards	$ 38,200,000

Loss per Share - Summary of Reconciliation of The Basic And Diluted Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net Loss	$ 4,718	$ 5,997	$ 5,641	$ 10,227	$ 12,914	$ 15,048	$ 10,502	$ 3,566	$ 26,583	$ 42,030	$ 25,102
Weighted-average common shares—outstanding, basic	24,860,738	22,734,335	21,623,509	21,503,643	21,372,892	21,215,246	19,877,676	18,719,857	22,674,313	20,290,966	16,064,588
Weighted-average common shares—outstanding, diluted	24,860,738	22,734,335	21,623,509	21,503,643	21,372,892	21,215,246	19,877,676	18,719,857	22,674,313	20,290,966	16,064,588
Net loss per common share, basic	$ (0.19)	$ (0.26)	$ (0.26)	$ (0.48)	$ (0.60)	$ (0.71)	$ (0.53)	$ (0.19)	$ 1.17	$ 2.07	$ 1.56
Net loss per common share, diluted	$ (0.19)	$ (0.26)	$ (0.26)	$ (0.48)	$ (0.60)	$ (0.71)	$ (0.53)	$ (0.19)	$ 1.17	$ 2.07	$ 1.56

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Consolidated income statement of the parties to the deed [Line Items]

Retirement Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Compensation And Retirement Disclosure [Abstract]
Defined contribution plan employers matching contribution percentage of employees pay	6.00%
Employers contribution to retirement plan	$ 733,000	$ 713,000	$ 594,000

Deed of Cross Guarantee - Consolidated Income Statement Of The Parties To The Deed (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2019

$ 10,304

$ 8,765

$ 5,103

$ 5,060

$ 3,877

$ 3,259

$ 3,250

$ 29,232

$ 14,263

$ 5,474

(2,053)

(2,146)

(821)

(929)

(874)

(634)

(846)

(619)

(5,949)

(2,973)

(1,271)

8,251

6,619

4,282

4,131

3,003

3,243

2,413

2,631

23,283

11,290

4,203

Operating Expenses:

(4,146)

(3,649)

(3,600)

(3,265)

(4,260)

(4,375)

(3,972)

(3,099)

(14,660)

^[1]

(15,706)

^[1]

(12,549)

^[1]

Product development expense

(5,275)

(5,422)

(3,401)

(8,302)

(9,709)

(12,787)

(7,107)

(3,422)

(22,400)

^[1]

(33,025)

^[1]

(15,099)

^[1]

3,974

4,109

3,361

3,374

2,538

2,495

2,312

1,819

14,818

^[1]

9,164

^[1]

8,004

^[1]

(13,395)

(13,180)

(10,362)

(14,941)

(16,507)

(19,657)

(13,391)

(8,340)

(51,878)

(57,895)

(35,652)

Other Income

121

363

103

Avita Medical And Australian Wholly Owned Subsidaries Closed Group

$ (4,718)

$ (5,997)

$ (5,641)

$ (10,227)

$ (12,914)

$ (15,048)

$ (10,502)

$ (3,566)

(26,583)

$ (42,030)

$ (25,102)

Consolidated income statement of the parties to the deed [Line Items]

380

(75)

305

Operating Expenses:

(208)

Product development expense

(182)

(389)

Other Income

$ (81)

[1]	Refer to Note 2 for reclassification of share-based compensation expense.

Deed of Cross Guarantee - Consolidated Balance Sheet Of The Parties To The Deed (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
ASSETS
Cash and cash equivalents	$ 110,746	$ 73,639
Accounts receivable, net	3,467	2,076
Prepaids and other current assets	1,333	990
Inventory	1,647	1,125
Total assets	125,501	82,462
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable and accrued liabilities	3,120	4,333
Accrued wages and fringe benefits	3,321	2,816
Other current liabilities	949	560
Total liabilities	9,846	10,061
Accumulated deficit	(221,496)	(194,913)
Total shareholders' equity	115,655	72,401	$ 20,832	$ 14,032
Total liabilities and shareholders' equity	125,501	$ 82,462
Avita Medical And Australian Wholly Owned Subsidaries Closed Group
ASSETS
Cash and cash equivalents	223
Accounts receivable, net	5
Prepaids and other current assets	2,312
Inventory	32
Total assets	2,572
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable and accrued liabilities	12
Accrued wages and fringe benefits	84
Other current liabilities	2,455
Total liabilities	2,551
Contributed equity	232,747
Reserves	31,803
Accumulated deficit	(264,529)
Total shareholders' equity	21
Total liabilities and shareholders' equity	$ 2,572

Quarterly Results (Unaudited) - Disclosure Detail Of Quarterly Financial Information (Detail) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Jul. 31, 2020

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2019

Quarterly Financial Data [Abstract]

$ 10,304

$ 8,765

$ 5,103

$ 5,060

$ 3,877

$ 3,259

$ 3,250

$ 29,232

$ 14,263

$ 5,474

(2,053)

(2,146)

(821)

(929)

(874)

(634)

(846)

(619)

(5,949)

(2,973)

(1,271)

8,251

6,619

4,282

4,131

3,003

3,243

2,413

2,631

23,283

11,290

4,203

BARDA income

$ 1,600

440

570

449

596

481

1,008

386

2,051

2,055

3,926

5,921

Operating Expenses:

(4,146)

(3,649)

(3,600)

(3,265)

(4,260)

(4,375)

(3,972)

(3,099)

(14,660)

^[1]

(15,706)

^[1]

(12,549)

^[1]

(5,275)

(5,422)

(3,401)

(8,302)

(9,709)

(12,787)

(7,107)

(3,422)

(22,400)

^[1]

(33,025)

^[1]

(15,099)

^[1]

(3,974)

(4,109)

(3,361)

(3,374)

(2,538)

(2,495)

(2,312)

(1,819)

(14,818)

^[1]

(9,164)

^[1]

(8,004)

^[1]

(13,395)

(13,180)

(10,362)

(14,941)

(16,507)

(19,657)

(13,391)

(8,340)

(51,878)

(57,895)

(35,652)

(4,704)

(5,991)

(5,631)

(10,214)

(13,023)

(15,406)

(10,592)

(3,658)

(26,540)

(42,679)

(25,528)

Interest expense

(9)

(3)

(7)

(8)

(5)

(9)

(11)

(22)

(33)

(27)

Other income/(expense)

121

363

103

Income tax benefit (expense)

(4,711)

(5,987)

(5,630)

(10,217)

(12,910)

(15,048)

(10,502)

(3,566)

(26,545)

(42,026)

(25,223)

(7)

(10)

(11)

(10)

(4)

(38)

(4)

121

$ (4,718)

$ (5,997)

$ (5,641)

$ (10,227)

$ (12,914)

$ (15,048)

$ (10,502)

$ (3,566)

$ (26,583)

$ (42,030)

$ (25,102)

Net loss per common share:

$ (0.19)

$ (0.26)

$ (0.48)

$ (0.60)

$ (0.71)

$ (0.53)

$ (0.19)

$ 1.17

$ 2.07

$ 1.56

$ (0.19)

$ (0.26)

$ (0.48)

$ (0.60)

$ (0.71)

$ (0.53)

$ (0.19)

$ 1.17

$ 2.07

$ 1.56

Weighted-average common shares:

24,860,738

22,734,335

21,623,509

21,503,643

21,372,892

21,215,246

19,877,676

18,719,857

22,674,313

20,290,966

16,064,588

Quarterly Financial Data [Line Items]

24,860,738

22,734,335

21,623,509

21,503,643

21,372,892

21,215,246

19,877,676

18,719,857

22,674,313

20,290,966

16,064,588

[1]	Refer to Note 2 for reclassification of share-based compensation expense.

Quarterly Results (Unaudited) - Disclosure Detail Of Quarterly Financial Information (Parenthetical) (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2019

$ (4,146)

$ (3,649)

$ (3,600)

$ (3,265)

$ (4,260)

$ (4,375)

$ (3,972)

$ (3,099)

$ (14,660)

^[1]

$ (15,706)

^[1]

$ (12,549)

^[1]

(5,275)

(5,422)

(3,401)

(8,302)

(9,709)

(12,787)

(7,107)

(3,422)

(22,400)

^[1]

(33,025)

^[1]

(15,099)

^[1]

(3,974)

(4,109)

(3,361)

(3,374)

(2,538)

(2,495)

(2,312)

(1,819)

(14,818)

^[1]

(9,164)

^[1]

(8,004)

^[1]

(5,664)

(16,486)

(1,946)

(13,395)

(13,180)

(10,362)

(14,941)

(16,507)

(19,657)

(13,391)

(8,340)

(51,878)

(57,895)

(35,652)

(4,704)

(5,991)

(5,631)

(10,214)

(13,023)

(15,406)

(10,592)

(3,658)

(26,540)

(42,679)

(25,528)

(4,711)

(5,987)

(5,630)

(10,217)

(12,910)

(15,048)

(10,502)

(3,566)

(26,545)

(42,026)

(25,223)

As Previously Reported [Member]

$ (4,718)

$ (5,997)

$ (5,641)

(10,227)

(12,914)

(15,048)

(10,502)

(3,566)

$ (26,583)

(42,030)

(25,102)

Quarterly Financial Data [Line Items]

(2,935)

(3,951)

(4,162)

(3,738)

(2,962)

(14,813)

(12,253)

(5,536)

(6,361)

(4,145)

(4,558)

(3,071)

(18,135)

(13,581)

(3,204)

(2,332)

(2,302)

(2,192)

(1,635)

(8,461)

(7,872)

(3,266)

(3,863)

(9,048)

(2,903)

(672)

(16,486)

(1,946)

(14,941)

(16,507)

(19,657)

(13,391)

(8,340)

(57,895)

(35,652)

(10,214)

(13,023)

(15,406)

(10,592)

(3,658)

(42,679)

(25,528)

(10,217)

(12,910)

(15,048)

(10,502)

(3,566)

(42,026)

(25,223)

Amount Reclassified [Member]

(10,227)

(12,914)

(15,048)

(10,502)

(3,566)

(42,030)

(25,102)

Quarterly Financial Data [Line Items]

(330)

(309)

(213)

(234)

(137)

(893)

(296)

(2,766)

(3,348)

(8,642)

(2,549)

(351)

(14,890)

(1,518)

(170)

(206)

(193)

(120)

(184)

(703)

(132)