0001564590-22-007617 | 10-KT | XBRL Viewer

^[1]

(8,472)

(6,865)

(14,660)

(15,706)

^[1]

(10,996)

(11,703)

(22,400)

(33,025)

^[1]

(7,586)

(6,735)

(14,818)

(9,164)

Income tax benefit/(expense)

(27,054)

(25,303)

(51,878)

(57,895)

Operating loss

(14,423)

(15,845)

(26,540)

(42,679)

Interest expense

(17)

(10)

(22)

(33)

Other income

686

Loss before income taxes

(14,402)

(15,847)

(26,545)

(42,026)

(25)

(21)

(38)

(4)

$ (14,427)

$ (15,868)

$ (26,583)

$ (42,030)

Net loss per common share:

Basic

$ (0.58)

$ (0.74)

$ (1.17)

$ (2.07)

Diluted

$ (0.58)

$ (0.74)

$ (1.17)

$ (2.07)

Weighted-average common shares:

Basic

24,915,414

21,563,576

22,674,313

20,290,966

Diluted

24,915,414

21,563,576

22,674,313

20,290,966

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

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (14,427)	$ (15,868)	$ (26,583)	$ (42,030)
Other comprehensive income gain/(loss):
Foreign currency translation gain/(loss)	(95)	143	113	(38)
Net unrealized loss on marketable securities, net of tax	(104)
Comprehensive loss	$ (14,626)	$ (15,725)	$ (26,470)	$ (42,068)

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

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, 2019	$ 20,832	$ 3	$ 165,473	$ 8,184	$ (152,828)
Beginning 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
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
Net loss	(14,427)				(14,427)
Share-based compensation	3,588		3,588
Exercise of stock options	$ 7		7
Exercise of stock options, shares	1,125	1,125
Vesting of RSU options, shares		28,754
Translation gain (loss)	$ (95)			(95)
Net unrealized loss on marketable securities, net of tax	(104)			(104)
Ending Balance at Dec. 31, 2021	$ 104,624	$ 3	$ 332,484	$ 8,060	$ (235,923)
Ending Balance, shares at Dec. 31, 2021		24,925,743

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Cash flow from operating activities:
Net loss	$ (14,427)	$ (15,868)	$ (26,583)	$ (42,030)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	330	373	715	465
Share-based compensation	3,588	2,920	5,664	16,486
Non-cash lease expense	328	276	591	502
Loss on fixed asset disposal			130	259
Patent impairment loss	42
Remeasurement and foreign currency transaction gain/(loss)	(72)	229	228	7
Excess and obsolete inventory related charges and recoveries	44	(82)	226	84
BARDA deferred costs	(278)		343
Contract cost amortization	167		129
Provision (benefit) for doubtful accounts	(2)	(6)	12	43
Amortization of premium of marketable securities	104
Issuance of common stock to directors in lieu of directors fees				107
Changes in operating assets and liabilities:
Trade and other receivables	350	144	(1,399)	(729)
BARDA receivables	3,627	(84)	(3,580)	26
R&D Tax Credits				121
Prepaids and other current assets	119	177	(342)	219
Inventory	(530)	(1,077)	(745)	(468)
Operating lease liability	(334)	(268)	(594)	(476)
Other long-term assets	(347)	(151)	(889)
Accounts payable and accrued liabilities	(392)	(1,700)	(1,333)	2,308
Accrued wages and fringe benefits	2,046	1,474	493	693
Other current liabilities	186	94	155	(366)
Contract liabilities	(123)	161	640	6
Other long-term liabilities	73		238	(4)
Net cash used in operations	(5,501)	(13,388)	(25,901)	(22,747)
Cash flows from investing activities:
Purchase of marketable securities	(49,550)
Cash paid for property and equipment	(65)	(472)	(894)	(590)
Cash paid for patent filing fees	(67)	(163)	(280)	(257)
Net cash used in investing activities	(49,682)	(635)	(1,174)	(847)
Cash flow from financing activities:
Proceeds from direct placement of common stock			69,106	81,702
Issuance cost associated with direct placement			(5,109)	(5,077)
Principal repayment of finance lease		(10)	(11)	(42)
Proceeds from exercise of stock options	7	1	63	474
Net cash provided/(used) by financing activities	7	(9)	64,049	77,057
Effect of foreign exchange rate on cash and restricted cash	(59)	158	133	3
Net increase/(decrease) in cash and cash equivalents and restricted cash	(55,235)	(13,874)	37,107	53,466
Cash and cash equivalents and restricted cash beginning of the period	110,947	73,840	73,840	20,374
Cash and cash equivalents and restricted cash end of the period	55,712	59,966	110,947	73,840
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	8	42	42
Cash paid for interest	17	2	3	42
Plant and equipment purchases not yet paid	$ 35	$ 60	$ 20	$ 85

The Company

6 Months Ended

Dec. 31, 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, marketable securities and intangibles, as of December 31, 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.

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”.

CHANGE OF YEAR-END

On November 8, 2021, the Company changed its fiscal year-end from June 30th to December 31st, effective immediately. The decision to change the fiscal year-end to a calendar year end was to align our reporting cycle more closely with how we manage our business.

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 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

6 Months Ended

Dec. 31, 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 to sales and marketing expense, general and administrative expense and research and development expenses as detailed in the table below for year ended June 30, 2020 (in thousands).

	Year-ended June 30, 2020
	As previously reported			Amount reclassified			As Reported
Sales and marketing expenses	$	(14,813	)	$	(893	)	$	(15,706	)
General and administrative expenses		(18,135	)		(14,890	)		(33,025	)
Research and development expenses		(8,461	)		(703	)		(9,164	)
Share-based compensation		(16,486	)		16,486			-
Total operating expenses		(57,895	)		-			(57,895	)
Operating loss		(42,679	)		-			(42,679	)
Loss before income taxes		(42,026	)		-			(42,026	)
Net loss		(42,030	)		-			(42,030	)

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 marketable securities, 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 gain of $35,000 and losses of $114,000, $97,000 and $7,000 for the transition period ended December 31, 2021, the six months ended December 31, 2020 and the years ended June 30, 2021 and 2020, respectively.

The Company’s 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 and were a gain $37,000 and losses of $115,000 and $131,000 for the transition period ended December 31, 2021, the six months ended December 31, 2020 and the year ended June 30, 2021, respectively. For the year ended June 30, 2020 such amounts were not significant.

Comprehensive 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 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 within 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 $4.4 million, $54.2 million and $73.6 million of which $203,000, $273,000 and $466,000 is denominated in foreign currencies in foreign institutions as of December 31, 2021, June 30, 2021 and 2020, respectively. As of December 31, 2021, June 30, 2021 and 2020, the Company held cash equivalents in the amount of $51.1 million, $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 as of December 31, 2021 and 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 receivables, BARDA receivables and other receivables. As of December 31, 2021, and 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 December 31, 2021, one commercial customer accounted for approximately 10% of net accounts receivable. As of June 30, 2021, and 2020, no single commercial customer accounted for more than 10% of net accounts receivable. For the transition period ended December 31, 2021, and the six-months ended December 31, 2020, no single commercial customer accounted for more than 10% of total revenues. For the years ended June 30, 2021, and 2020, no single commercial customer accounted for more than 10% of total revenues. BARDA revenues for the procurement of the RECELL system accounted for approximately 1.3%, 0%, 26.5% and 0% of total revenues for the transition period ended December 31, 2021, the six-months ended December 31, 2020, and the years ended June 30, 2021 and 2020, respectively. BARDA receivables for the procurement of the RECELL system and emergency preparedness accounted for approximately 3%, 91% and 0% of BARDA receivables as of December 31, 2021, June 30, 2021, and 2020, respectively. See table below for breakdown of BARDA receivables (in thousands).

	As of December 31, 2021		As of June 30, 2021		As of June 30, 2020
BARDA procurement and emergency preparedness services	$	9	$	3,583	$	—
BARDA expense reimbursements		299		353		356
Total	$	308	$	3,936	$	356

Fair Value of Financial Instruments

The carrying values of the Company’s financial instruments, consisting of cash and cash equivalents, marketable securities, 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.

Marketable Securities

We classify all highly liquid investments with original maturities of three months or less from the date of purchase as cash equivalents and all highly liquid investments with stated maturities of greater than three months as marketable securities. The Company classifies marketable securities as short-term when they have remaining contractual maturities of one year or less from the balance sheet date, and as long-term when the investments have remaining contractual maturities of more than one year from the balance sheet date. Classification is determined at the time of purchase and re-evaluated each balance sheet date. Short-term marketable securities represent investment of cash available for current operations. We account for our marketable securities as available-for-sale securities.

All marketable securities, which consist of corporate debt securities, asset backed securities, U.S treasury and commercial paper are denominated in the U.S. dollars, have been classified as “available for sale”, and are carried at fair value. Unrealized gains and losses, net of any related tax effects, are excluded from earnings and are included in other comprehensive income (loss) and reported as a separate component of stockholders equity until realized. Realized gains and losses on marketable securities are included in interest and other income, net, in the accompanying Consolidated Statements of Operations. The cost of any marketable securities sold is based on the specific identification method. The amortized cost of marketable securities is adjusted for amortization of premiums and accretion of discounts to maturity. Interest on marketable securities is included in other income. In accordance with the Company’s investment policy, management invests to diversify credit risk and only invests in securities with high credit quality, including U.S. government securities, and the maximum final maturity from the date of purchase is thirty-seven months.

If necessary, the Company will recognize an allowance for credit losses on available-for-sale debt securities on an individual basis, and will no longer consider other than-temporary impairment or immediately reduce the cost basis of the investment provided that it is more likely than not that the security will be held to recovery or maturity. Further, the Company will recognize any improvements in estimated credit losses on available-for-sale debt securities immediately in earnings and reduce the existing allowance for credit losses. The Company will disaggregate its available-for-sale debt securities into the following categories: commercial paper, corporate debt, government and agency securities and money market funds. The Company’s corporate bonds are comprised of predominantly high-grade corporate bonds while its government and agency securities are U.S. treasury bonds, and U.S. agency bonds. The Company has analyzed both corporate bonds and government and agency securities and identified that both types of securities have similar risk characteristics in that they are traded infrequently and have contractual interest rates and maturity dates.

To evaluate for impairment, management reviews credit rating changes, securities trends, interest rate movements and unrealized loss at the security level of the Company’s available for sale debt securities. If any of these give rise to a potential credit concern, the Company performs a discounted cash flow analysis to determine the credit portion of the impairment. The discounted cash flow analysis will be performed either internally or through the assistance of a qualified third party. Once the credit component of the impairment is determined, the Company will record the impaired amount as an allowance to the available-for-sale debt securities balance and as a charge to other income in the accompanying Consolidated Statements of Operations, not to exceed the amount of the unrealized loss. The Company assesses expected credit losses at the end of each reporting period and adjusts the allowance through other income.

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 December 31, 2021 and June 30, 2021 and 2020, the allowance for doubtful accounts was $28,000, $30,000 and $18,000, respectively.

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

	For the transition period			For the period			For the year-ended June 30,
	July 1 - December 31, 2021			July 1 - December 31, 2020			2021		2020
				(unaudited)
Allowance for doubtful accounts, at beginning of year	$	30		$	18		$	18	$	18
Bad debt expense		2			7			12		43
Deductions		(4	)		(13	)		-		(43	)
Allowance for doubtful accounts, at end of year	$	28		$	12		$	30	$	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 $673,000 $700,000 and $483,000 as of December 31, 2021, 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. The Company recorded $42,000 of impairments intangible assets during the transition period ended December 31, 2021. There were no impairments of long-lived assets for the six months ended December 31, 2020 and the years ended June 30, 2021 and 2020.

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 expenses were $16,000, $43,000, $73,000 and $51,000 for the transition period ended December 31, 2021, for the six months ended December 31, 2020 and the years ended June 30, 2021 and 2020, 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.

Deferred Compensation Plan and Investments in Corporate-Owned Life Insurance

The Company’s Deferred Compensation Plan (the "DCP"), which became effective on October 2021, allows highly compensated key employees to elect to defer a portion of their salary, bonus, commissions and RSU awards to later years. Management determined that the DCP shall be accounted for similar to a defined benefit plan under ASC 715 and should follow an accounting similar to a cash balance plan. Management determined that the employee portion and employer portion of the deferred compensation should be recognized as compensation expense with a corresponding credit to deferred compensation liability. The matching contribution will be accrued over the vesting period of two-years with 25% vesting in the first year and 75% vesting in the second year. The change in the liability between each reporting is accounted for as compensation expense with a corresponding adjustment to deferred compensation liability. Upon distribution, the Company will record the distribution as a decrease to compensation liability with corresponding credit to cash. The Company funds the DCP through a Corporate-Owned Life Insurance (“COLI”). Per the ASC 325-30-25-1A, COLI is recorded as an asset in other long-term assets as it does not meet the definition of a plan asset under ASC 715. The Company invests in COLI policies relating to its deferred compensation plan. Investments in COLI policies are recorded at their cash surrender values as of each balance sheet date. Changes in the cash surrender value during the period are recorded as a gain or loss in the statement of operations in other income.

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

6 Months Ended

Dec. 31, 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.

In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832) - Disclosures by Business Entities about Government Assistance ("ASU 2021-10"), which is aimed at increasing transparency about certain government assistance received by a business entity. The standard requires business entities to make annual disclosures about the nature of the transactions and the related accounting policy used to account for the transactions, the line items and applicable amounts on the balance sheet and income statement that are affected by the transactions, and significant terms and conditions of the transactions, including commitments and contingencies. If an entity omits any required disclosures because it is legally prohibited, it must disclose that fact. ASU 2021-10 is effective for financial statements issued for annual periods beginning after December 15, 2021. The Company expects the standard to be applicable to its financial statements and is currently evaluating and understanding the requirements for drafting applicable disclosures.

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (g)(2)
-URI http://asc.fasb.org/extlink&oid=123338486&loc=SL49131195-203048

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI http://asc.fasb.org/topic&trid=2122394

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=124434974&loc=SL124442142-165695

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123338486&loc=SL49131195-203048

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(2)
-URI http://asc.fasb.org/extlink&oid=123459177&loc=SL121830611-158277

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=122038215&loc=SL108384541-122693

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-URI http://asc.fasb.org/extlink&oid=124402435&loc=SL124402458-218513

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(2)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL121967933-165497

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)(2)
-URI http://asc.fasb.org/extlink&oid=123338486&loc=SL49131195-203048

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL121967933-165497

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=123459177&loc=SL121830611-158277

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (g)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-URI http://asc.fasb.org/extlink&oid=124402435&loc=SL124402458-218513

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (j)
-URI http://asc.fasb.org/extlink&oid=123338486&loc=SL49131195-203048

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-URI http://asc.fasb.org/extlink&oid=122038215&loc=d3e31137-122693

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(3)
-URI http://asc.fasb.org/extlink&oid=123597120&loc=SL121967933-165497

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-URI http://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=122150657&loc=SL122150809-237846

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(3)
-URI http://asc.fasb.org/extlink&oid=123459177&loc=SL121830611-158277

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Publisher FASB
-Subparagraph (c)

Available For Sale Securities [Abstract]

Marketable Securities

6 Months Ended

Dec. 31, 2021

Marketable Securities

4. Marketable Securities

The following table summarizes the amortized cost and estimates fair values of debt securities available for sale:

	As of December 31, 2021
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Carrying Value
(in thousands)
Cash Equivalents:
Money market funds	$	51,112	$	-	$	-		$	51,112
Current marketable securities:
Commercial paper	$	19,586		-		-		$	19,586
Corporate debt securities		7,068		-		(7	)		7,061
Asset-backed securities		3,002		-		-			3,002
Total current marketable securities	$	29,656	$	-	$	(7	)	$	29,649
Long-term marketable securities:
U.S Treasury securities		18,043		-		(89	)		17,954
Corporate debt securities		1,746		-		(8	)		1,738
Total Long-term marketable securities	$	19,789	$	-	$	(97	)		19,692

The maturities of debt securities available for sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid.

	As of December 31, 2021
	Amortized Cost		Carrying Value
Due in one year or less		29,656		29,649
Due after one year through three years		19,789		19,692

Gross unrealized gains and losses on the Company’s marketable securities were an unrealized gain of $0 and an unrealized loss of $104,000 as of December 31, 2021 which resulted in a net unrealized loss of $104,000. During the transition period ended December 31, 2021, the Company did not recognize credit losses. The Company did not have any marketable securities for any other period presented. The Company has accrued interest income of $72,000 as of December 31, 2021, recorded in Prepaids and Other Current Assets. Money market funds were included in the cash and cash equivalents line item.

Fair Value Measurements

6 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

5. Fair Value Measurements

The authoritative guidance on fair value measurements establishes a framework with respect to measuring assets and liabilities at fair value on a recurring basis and non-recurring basis. Under the framework, fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as of the measurement date. The framework also establishes a three-tier hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability and are developed based on the best information available in the circumstances. The hierarchy consists of the following three levels:

Level 1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date.

Level 2: Inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3: Inputs are unobservable inputs for the asset or liability

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis, based on the three-tier fair value hierarchy:

	As of December 31, 2021
(in thousands)	Level 1		Level 2		Level 3		Total
Cash Equivalents
Money market funds	$	51,112	$	-	$	-	$	51,112
Total cash equivalents		51,112		-		-		51,112
Short-term marketable securities
Commercial paper		-		19,586		-		19,586
Asset-backed securities		-		3,002		-		3,002
Corporate debt securities		-		7,061		-		7,061
Total short-term marketable securities		-		29,649		-		29,649
Long-term investments
U.S Treasury securities		-		17,954		-		17,954
Corporate debt securities		-		1,738		-		1,738
Total long-term marketable securities		-		19,692		-		19,692
Total marketable securities and cash equivalents	$	51,112	$	49,341	$	-	$	100,453

The Company’s Level 1 assets include money market instruments and are valued based upon observable market prices. Level 2 assets consist of commercial paper, asset back securities and corporate debt securities and U.S Treasury securities. Level 2 securities are valued based upon observable inputs that include reported trades, broker/dealer quotes, bids and offers. As of December 31, 2021, the Company had no investments that were measured using unobservable (Level 3) inputs. There were no transfers between fair value measurement levels during the transition period ended December 31, 2021. For the year ended June 30, 2021 and 2020, the Company did not have any marketable securities, cash equivalents consisted of money market funds and were classified as a Level 1.

Goodwill And Intangible Assets Disclosure [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Leases

6 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

6. Leases

During August 2021, 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 an increase of approximately $392,000 to the operating lease ROU assets and operating lease liabilities. There was no impact on earnings as a result of the modification.

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):

	Transition Period Ended		Six-Months ended		Year-Ended		Year-Ended
	December 31, 2021		December 31, 2020		June 30, 2021		June 30, 2020
			(unaudited)
Operating lease cost	$	284	$	175	$	731	$	701
Variable lease cost		25		12		48		47
Total lease cost	$	309	$	187	$	779	$	748

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

	Transition Period Ended		Six-Months ended		Year-Ended		Year-Ended
	December 31, 2021		December 31, 2020		June 30, 2021		June 30, 2020
			(unaudited)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	288	$	352	$	735	$	675

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

	As of December 31, 2021			As of June 30, 2021			As of June 30, 2020
Reported as:
Operating lease right-of-use assets	$	1,544		$	1,480		$	2,347
Total right-of-use assets	$	1,544		$	1,480		$	2,347

Other current liabilities:
Operating lease liabilities, short-term	$	720		$	702		$	533
Operating lease liabilities, long term		918			878			1,917
Total operating lease liabilities	$	1,638		$	1,580		$	2,450
Operating lease weighted average remaining lease term (years)		2.30			2.67			3.91
Operating lease weighted average discount rate		6.51	%		6.70	%		7.50	%

As of December 31, 2021, maturities of the Company’s operating lease liabilities are as follows (in thousands):

	Operating Leases
2022	$	802
2023		649
2024		314
2025		-
Total lease payments		1,765
Less imputed interest		(127	)
Total operating lease liabilities	$	1,638

At December 31, 2021 there were no leases entered into that had not yet commenced.

Inventory

6 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventory

7. Inventory

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

	As of
	December 31, 2021		June 30, 2021		June 30, 2020
Raw materials	$	1,222	$	982	$	947
Work in process		176		241		—
Finished goods		734		424		178
Total inventory	$	2,132	$	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 $44,000 and a recovery of $82,000, for the transition period ended December 31, 2021 and the six-months ended December 31, 2020, respectively. Estimated excess and obsolescence charges were $226,000 and $84,000 for the years ended June 30, 2021 and 2020, respectively.

Intangible Assets

6 Months Ended

Dec. 31, 2021

Intangible Assets

8. Intangible Assets

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

			As of December 31, 2021							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		Gross Amount		Accumulated Amortization			Net Carry Amount
Patent 1		2	$	209	$	(182	)	$	27	$	264	$	(190	)	$	74	$	235	$	(101	)	$	134
Patent 2		11		123		(18	)		105		138		(16	)		122		74		(9	)		65
Patent 3		14		192		(25	)		167		163		(19	)		144		125		(9	)		116
Patent 5		20		46		(3	)		43		46		(2	)		44		26		-			26
Patent 6		20		39		(2	)		37		39		(1	)		38		-		-			-
Patent 7		13		2		-			2		-		-			-		-		-			-
Patent 8		20		3		-			3		3		-			3		-		-			-
Patent 10		19		3		-			3		-		-			-		-		-			-
Patent 11		19		6		-			6		-		-			-		-		-			-
Trademarks	Indefinite			50		-			50		47		-			47		23		-			23
Total intangible assets			$	673	$	(230	)	$	443	$	700	$	(228	)	$	472	$	483	$	(119	)	$	364

During the transition period ended December 31, 2021, the Company recorded impairment charge of $42,000 in general and administrative expenses. During the six-months ended December 31, 2020 and 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 six-months ended December 31, 2020 and the years ended June 30, 2021 and 2020. Amortization expense of intangibles included in the consolidated statements of operations was $56,000 and $49,000 for the transition period ended December 31, 2021 and the six-months ended December 31, 2020, respectively. Amortization expense was $109,000 and $119,000 for the years ended June 30, 2021 and 2020, respectively.

The Company expects the future amortization of amortizable intangible assets held at December 31, 2021 to be (in thousands):

	Estimated Amortization Expense
2023			76
2024			67
2025			67
2026			67
2027			67
Thereafter			49
Total		$	393

Property and Equipment, net

6 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

Property and Equipment, net

9. Property and Equipment, net

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

	Useful Lives	As of December 31, 2021			As of June 30, 2021			As of June 30, 2020
Computer equipment	3 years	$	740		$	722		$	802
Computer software	3 years		811			775			369
Construction in progress			29			48			138
Furniture and fixtures	7 years		440			440			425
Laboratory equipment	5 years		566			523			194
Leasehold improvements	Lesser of life or lease term		242			242			216
RECELL Moulds	5 years		129			129			100
Less: accumulated amortization and depreciation			(1,695	)		(1,421	)		(881	)
Total plant and equipment, net		$	1,262		$	1,458		$	1,363

Depreciation expense related to plant and equipment was $274,000, $324,000, $606,000 and $346,000 for the transition period ended December 31, 2021, the six months ended December 31, 2020 and the years ended June 30, 2021 and 2020, respectively.

Prepaids and Other Current Assets and Other Long-Term Assets

6 Months Ended

Dec. 31, 2021

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

Prepaids and Other Current Assets and Other Long-Term Assets

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

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

	As of December 31, 2021		As of June 30, 2021		As of June 30, 2020
Prepaid expenses	$	1,124	$	853	$	792
Lease deposits	2			-		123
Accrued investment income	72			-		-
Other receivables		15	480		75
Total prepaids and other current assets	$	1,213	$	1,333	$	990

Prepaid expenses primarily consist of prepaid benefits and insurance.

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

	As of December 31, 2021		As of June 30, 2021		As of June 30, 2020
BARDA contract costs	$	504	$	613	$	-
Deferred Compensation		304		-		-
Long-term lease deposits		124		126		1
Long-term prepaids		10		22		-
Total other long-term assets	$	942	$	761	$	1

Reporting Segment and Geographic Information

6 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Reporting Segment and Geographic Information

11. 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 December 31, 2021 and June 30, 2021, and 2020 with an insignificant amount located in Australia and the United Kingdom.

Revenue by region were as follows (in thousands):

	Transition period ended		Six months ended		Year-ended		Year-ended
	December 31, 2021		December 31, 2020		June 30, 2021		June 30, 2020
			(unaudited)
Revenue:
United States	$	13,764	$	9,990	$	28,955	$	13,800
Foreign:
Australia	136			133		207		292
United Kingdom	56			40		70		171
Total	$	13,956	$	10,163	$	29,232	$	14,263

Revenue by Customer type were as follows (in thousands):

	Transition period ended		Six months ended		Year-ended		Year-ended
	December 31, 2021		December 31, 2020		June 30, 2021		June 30, 2020
			(unaudited)
Revenue:
Commercial sales		13,771	$	10,163	$	21,483	$	14,263
BARDA:
Product sales		—		—		7,595		—
Services for emergency preparedness		185		—		154		—
Total	$	13,956	$	10,163	$	29,232	$	14,263

Cost of sales by Customer type were as follows (in thousands):

	Transition period ended			Six months ended		Year-ended		Year-ended
	December 31, 2021			December 31, 2020		June 30, 2021		June 30, 2020
				(unaudited)
Cost of sales
Commercial cost	$	2,017		$	1,750	$	3,931	$	2,973
BARDA:
Product cost		(278	)		—		1,889		—
Emergency preparedness service cost		166			—		129		—
Total	$	1,905		$	1,750	$	5,949	$	2,973

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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

Commitments And Contingencies Disclosure [Abstract]

Contingencies

6 Months Ended

Dec. 31, 2021

Contingencies

12. 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 December 31, 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

6 Months Ended

Dec. 31, 2021

Equity [Abstract]

Common and Preferred Stock

13. 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.

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 December 31, 2021 and June 30, 2021, and 2020, 24,925,743, 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.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Revenue Performance Obligation [Abstract]

Revenue

6 Months Ended

Dec. 31, 2021

Revenue

14. 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. During the transition period ended December 31, 2021, the Company released $278,000 of deferred cost liability due to extended shelf life from 18 months to two years of the RECELL product. The Company has estimated deferred cost of approximately $64,000, $343,000 and $0 as of December 31, 2021 and June 30, 2021 and 2020, respectively, for the rotation cost of the product. Such amounts are recorded in other current liabilities in the amounts of $0 and $77,000 and other long-term liabilities in the amount of $64,000 and $266,000 as of December 31, 2021 and June 30, 2021, 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 of $185,000 and $154,000 for the transition period ended December 31, 2021 and the year ended June 30, 2021, respectively, and are included in sales within the consolidated statement of operations. For the six months ended December 31, 2020 and the year ended June 30, 2020, 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 December 31, 2021, June 30, 2021 and June 30, 2020 contract costs of $504,000, $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 $952,000, $1.1 million and $435,000 as of December 31, 2021 and June 30, 2021 and 2020, respectively. Approximately $517,000 and $665,000 of this amount as of December 31, 2021 and June 30, 2021 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. The remaining balance of $435,000 as of December 31, 2021 and June 30, 2021 and 2020, the Company expects to recognize revenue upon receiving Japanese Pharmaceuticals and Medical Device Act approval of the RECELL System in Japan. For the transition period ended December 31, 2021, we recognized $185,000 of service revenue related to the BARDA contract. Revenue recognized for the BARDA contract for the year ended June 30, 2021 was $7.6 million for the RECELL product and $154,000 of service revenue related to the emergency readiness performance obligation. There were no purchases by BARDA for the six-months ended December 31, 2020 and for the year ended June 30, 2020. 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 December 31, 2021, June 30, 2021 and June 30, 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 $952,000, $1.1 million, and $435,000 of contract liabilities as of December 31, 2021 and June 30, 2021, and 2020, 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 transition period ended December 31, 2021, $185,000 of revenue was recognized from amounts included in the beginning balance of contract liabilities. For the six-months ended December 31, 2020 and the years ended June 30, 2021 and 2020, amounts recognized were 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 December 31, 2021, June 30, 2021 and June 30, 2020, the Company had $504,000, $613,000 and $0 of contracts costs included in other long-term assets. Amortization expense related to deferred contract costs were $167,000, $0, $129,000 and $0 during the transition period ended December 31, 2021, the six-

months ended December 31, 2020, and during the years ended June 30, 2021 and 2020, 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 the transition period ended December 31, 2021, the six-months ended December 31, 2020, the years ended June 30, 2021 and 2020.

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 11.

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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Payment Plans

6 Months Ended

Dec. 31, 2021

Share-Based Payment Plans

15. Share-Based Payment Plans

Overview of Employee Share-Based Compensation Plans

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 in relation to the 2016 Plans 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”). On December 22, 2021, the Company’s stockholders approved the issuance of options and awards to the Board of Directors and the CEO. These awards are subject to the vesting and performance conditions as denoted in the individual agreements.

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 December 31, 2021:

	Outstanding Options		Outstanding Restricted Stock Units		Shares available for future issuance
2016 Plan		1,045,745		-		-
RSU Awards		-		71,260		-
2020 Plan		630,625		87,500		1,026,875
2021 AGM Awards		80,350		138,730		-

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 transition period ended December 31, 2021, the six months ended December 31, 2020 and the years ended June 30, 2021 and 2020, the Company recorded share-based compensation expense of $3.6 million, $2.9 million, $5.7 million and $16.5 million, respectively. No income tax benefit was recognized in the consolidated statement of operations for share-based payment arrangements for the transition period ended December 31, 2021, the six months ended December 31, 2020 and the years ended June 30, 2021 and 2020.

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

	Transition period ended		Six months ended		Year-ended		Year-ended
	December 31, 2021		December 31, 2020		June 30, 2021		June 30, 2020
			(unaudited)
Sales and marketing expenses	$	663	$	624	$	925	$	893
General and administrative expenses		2,318		1,992		4,095		14,890
Research and development expenses		607		304		644		703
Total	$	3,588	$	2,920	$	5,664	$	16,486

A summary of share option activity as of December 31, 2021 and changes during the year then ended is presented below:

	Service Only Share Options			Performance Based Share Options			Market Awards		Total Share Options			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding shares at June 30, 2021		997,826			495,669			-		1,493,495		$	14.53		7.99	$	12,233,949
Granted		157,450			106,675			27,600		291,725			17.28
Exercised		(1,125	)		-			-		(1,125	)		6.06
Expired		(6,775	)		-			-		(6,775	)		29.28
Forfeited		(18,250	)		(2,350	)		-		(20,600	)		20.94
Outstanding shares at December 31, 2021		1,129,126			599,994			27,600		1,756,720			14.86		7.83		5,118,309
Exercisable at December 31, 2021		521,102			307,332			-		828,434		$	9.01		6.67	$	4,422,594

The weighted-average grant-date fair value of options granted during the transition period ended December 31, 2021, the six months ended December 31, 2020 and the years ended June 30, 2021 and 2020 was $10.35, $0, $14.08 and $26.56 , respectively. The total intrinsic value of options exercised during the transition period ended December 31, 2021, the six months ended December 31, 2020 and the years ended June 30, 2021 and 2020 was $13,000, $80,000, $221,000 and $3.1 million, respectively. Intrinsic value is measured using the fair market value at the date of exercise for options exercised, or at balance sheet date for outstanding options, less the applicable exercise price.

Cash received from the exercise of options was approximately $7,000, $1,000, $63,000 and $474,000 for the transition period ended December 31, 2021, the six months ended December 31, 2020 and the years ended June 30, 2021 and 2020, respectively.

As of December 31, 2021, there was approximately $7.0 million of total unrecognized compensation cost related to share-based compensation expense. Of this amount $4.3 million relates to service only share options to be recognized over a weighted average period of 1.46 years, $2.6 million related to performance-based share options to be recognized over a weighted average period of 1.86 years and $100,000 related to market options to be recognized over a weighted average period of 3.14 years.

Restricted Stock Units

Restricted stock units (“RSUs”) are granted to executives as part of their long-term incentive compensation. RSUs granted prior to the 2020 Plan arise out of contracts between the Company's former parent company, AVITA Medical and the holders of such securities. RSUs granted as a result of stockholder approval at the December 22, 2021 AGM 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. All RSU awards have a contractual term of 10 years and vest in accordance with the tenure or performance conditions as determined by the Compensation Committee and set out in the contracts between the Company and the holders of such securities. 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 as well as Non-Executive Directors (as occurred following the 2021 AGM). The CEO RSU awards are described below.

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			Market Condition		Total RSU's			Weighted Average Grant Date Fair Value per Unit
Unvested RSUs outstanding at June 30, 2021		47,507		52,507			-		100,014		$	38.17
Granted		67,250		111,340			47,640		226,230			13.57
Vested		-		(28,754	)		-		(28,754	)		36.15
Forfeited		-		-			-		-			-
Unvested RSUs outstanding at December 31, 2021		114,757		135,093			47,640		297,490		$	19.66

The weighted-average grant-date fair value of the RSUs granted during the transition period ended December 31, 2021, the six months ended December 31, 2020, and the years ended June 30, 2021 and 2020 were $13.57, $22.65, $22.65 and $39.12 per unit, respectively. The total fair value of shares vested during the transition period ended December 31, 2021, the six months ended December 31, 2020 and the years ended June 30, 2021 and 2020 were $599,000, $4.1 million, $4.9 million, $9.2 million, respectively.

As of December 31, 2021, there was $3.8 million of total unrecognized compensation cost related to RSU awards. Of this amount $1.1 million relates to service only RSUs to be recognized over a weighted average period of 1.20 years, $2.5 million related to performance-based awards, this amount includes $0.9 million for performance share awards that have been determined to be not probable, and $0.2 million related to market awards to be recognized over a weighted average period of 3.14 years. The associated expense for the performance RSUs that have been determined as not probable will be recognized if the performance condition(s) is determined to be probable. The remaining unrecognized expense related to performance RSUs of $1.6 million is expected to be recognized over a weighted average period of 1.84 years.

2019 CEO RSUs

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. As of December 31, 2021 a total of 47,507 RSUs are outstanding from this award.

Milestone performance – 253,021 of the RSUs will vest upon satisfaction of various performance conditions. As of December 31, 2021 all milestones except the one listed below have been achieved and 229,268 RSUs have been released and 23,753 RSUs awards remain unvested.

•

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

2021 AGM Awards

On December 22, 2021, as part of the Company's 2021 AGM, the Company's stockholders approved the grant of stock option awards and RSUs to the CEO and the Board of Directors. These awards are referred to as the 2021 AGM awards.

Awards to the CEO under the 2021 AGM Awards

On December 22, 2021, the CEO was issued an aggregate 150,480 options and RSUs comprising:

•

37,600 tenure-based options and RSUs (23,800 RSUs and 13,800 options) with 25% of those options and RSUs vesting annually commencing on December 14, 2022.

•

37,640 performance-based options and RSUs (23,840 RSUs and 13,800 options) that vest upon satisfaction of the below conditions:

9,410 awards (5,960 RSUs and 3,450 options) - Achieve Centers for Medicare and Medicaid Services reimbursement for out-patient transitional pass-through payment code (TPT) by June 30, 2022

9,410 awards (5,960 RSUs and 3,450 options) - Achieve Japanese approval from Pharmaceuticals and Medical Device Agency (PMDA) and reimbursement code by September 30, 2022

9,410 awards (5,960 RSUs and 3,450 options) - Achieve profitability of the Company’s Burns business for two consecutive quarters by March 31, 2023

9,410 awards (5,960 RSUs and 3,450 options) - Achieve US FDA approval of vitiligo indication by December 31, 2023

•

75,240 stretch-performance based options and RSUs (47,640 RSUs and 27,600 options) that vest upon satisfaction of the below conditions:

37,620 (23,820 RSUs and 13,800 options) - Achieve a doubling based on a 10-day volume-weighted average price of the Company’s share price as of the date of the 2021 Annual Meeting (being December 14, 2021) by June 30, 2023. The target share price is $25.74.

37,620 (23,820 RSUs and 13,800 options) - Achieve a market capitalization of the Company of greater than or equal to US$1.25 billion (as compared to market capitalization of ~US$435M as of October 14, 2021), and maintain that market capitalization for at least 30 consecutive calendar days on or before December 31, 2024.

In order for any options or RSUs issued to the CEO to vest, both the service condition and the relevant performance or market condition (as set out in the relevant agreement between the Company and the CEO) must be satisfied. The market awards will partially vest upon satisfaction of the market condition, and the other portions will vest on the anniversary of the vesting condition or December 22 of the relevant year. The WVAP condition has a minimum of three potential tranches and the market capitalization award has a minimum of two potential tranches. For market-based awards, share-based compensation expense will be recognized over the longer of the expected achievement period for the relevant market condition and the service condition. The market condition period and the valuation of each tranche were determined using a Monte Carlo simulation. In the event the market condition is met prior to the expected achievement period, any then-unrecognized compensation expense associated with the options or RSUs that have vested with respect to both the market condition and the service condition will be recognized immediately in the Company’s consolidated statements of operations.

Awards to the Board of Directors under the 2021 AGM Awards

The Board of Director awards consist of an aggregate 68,600 options and RSUs as follows:

•

41,400 tenure-based options and RSUs (15,300 options and 26,100 RSUs) vesting 12-months from the grant date.

6,900 tenure-based options and RSUs (4,350 RSUs and 2,550 options) granted to each of the six non-executive board members based on the vesting terms detailed above.

•

27,200 tenure-based options and RSUs (9,850 options and 17,350 RSUs) vesting on the first, second and third anniversary of the grant date in equal amounts (i.e. 1/3 of the RSUs and options will vest on each anniversary of the grant date, being on December 22 of each relevant year).

13,600 tenure-based options and RSUs (8,675 RSUs and 4,925 options) granted to Jan Stern Reed and James Corbett as an initial grant in connection with their appointment to the Board of Directors.

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 and market conditions 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. For tenure-based options, 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 for plain vanilla options to determine the expected life of the options due to insufficient exercise activity during recent years. For performance or market awards using the Monte Carlo simulation, the Company estimates the expected term based on a future exercise assumption of 2x the exercise price for rank-and-file employees and 3x the exercise price for executives. The contractual term of 10 years has been set as the expected term for performance and market awards. 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 related assumptions used in the Black-Scholes Option pricing model and Monte-Carlo simulation in transition period ended December 31, 2021, and the fiscal year ended June 30, 2021 and the Binomial models for share options granted for the year ended June 30, 2020. Note that for the six months ended December 31, 2020, there were no options granted.

	Transition Period Ended			Year Ended
	December 31, 2021			June 30, 2021			June 30, 2020
Expected volatility	68% - 75%			65% - 80%			75% - 90%
Weighted-average volatility		69	%		73	%		88	%
Expected dividends		0	%		0	%		0	%
Expected term (in years)	5 - 10			5 - 10			10
Risk-free interest rate	0.88% - 1.46%			0.77% - 1.64%			0.68% - 2.65%

Income Taxes

6 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

16. Income Taxes

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

	Transition Period Ended			Six-months ended			Year Ended			Year Ended
(amounts in thousands)	December 31, 2021			December 31, 2020			June 30, 2021			June 30, 2020
				(unaudited)
United States	$	(14,490	)	$	(15,689	)	$	(26,478	)	$	(20,793	)
Foreign		88			(158	)		(67	)		(21,233	)
Income (loss) from continuing operations before income taxes	$	(14,402	)	$	(15,847	)	$	(26,545	)	$	(42,026	)

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

	Transition Period Ended		Six-months ended		Year Ended		Year Ended
(amounts in thousands)	December 31, 2021		December 31, 2020		June 30, 2021		June 30, 2020
			(unaudited)
Current:
Federal	$	—	$	—	$	—	$	—
State		25		21		38		4
Foreign		—		—		—		—
		25		21		38		4
Deferred:
Federal		—		—		—		—
State		—		—		—		—
Foreign		—		—		—		—
		—		—		—		—
Total Income Tax Expense (Benefit)	$	25	$	21	$	38	$	4

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 the transition period ended December 31, 2021, and years ended June 30, 2021, and 2020 as a result of the following items:

(amounts in thousands)	Transition Period Ended December 31, 2021			Six-months ended December 31, 2020			Year Ended June 30, 2021			Year Ended June 30, 2020
				(unaudited)
Tax expense (benefit) at U.S. statutory rate	$	(3,024	)	$	(3,328	)	$	(5,574	)	$	(8,827	)
State income taxes		25			21			36			4
Foreign rate differential		5			(10	)		(5	)		(1,389	)
Tax Credits		—			—			—			—
Share-based compensation		997			(216	)		(27	)		(3,794	)
Permanent differences		29			230			233			669
Change in tax rate		—			—			—			—
Net change in valuation allowance		1,993			3,324			5,375			13,341
Income tax expense (benefit)	$	25		$	21		$	38		$	4

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

	Transition Period Ended December 31, 2021			Six-months ended December 31, 2020			Year-Ended June 30, 2021			Year-Ended June 30, 2020
				(unaudited)
Deferred tax liabilities
ROU Asset	$	(404	)	$	(471	)	$	(389	)	$	(608	)
Intangible assets	$	(25	)	$	—		$	—		$	—
Property, plant and equipment		(5	)		(5	)		(5	)		-
Total deferred tax liabilities	$	(434	)	$	(476	)	$	(394	)	$	(608	)
Deferred tax assets
Property, plant and equipment	$	—		$	—		$	—		$	17
Accrued expenses		1,151			912			686			564
Intangible assets		—			278			262			255
Stock based compensation		2,739			2,991			3,215			2,996
Lease liability		428			501			415			634
Net operating loss carryforward		46,918			42,355			44,282			37,756
Other		483			332			609			285
Total deferred tax assets	$	51,719		$	47,369		$	49,469		$	42,507
Less valuation allowance		(51,285	)		(46,893	)		(49,075	)		(41,899	)
Net deferred tax assets	$	434		$	476		$	394		$	608
Net deferred tax assets / (liabilities)	$	—		$	—		$	—		$	—

At December 31, 2021, the Company and its subsidiaries had net operating loss carryforwards for federal, state, United Kingdom, and Australia income tax purposes of $122.0 million, $79.7 million, $31.9 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 $51.3 million and $46.9 million as of December 31, 2021 and 2020, respectively. The Company has established a valuation allowance against its net deferred tax asset 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 December 31, 2021 and June 30, 2021 and 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, 2016 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 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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Compensation And Retirement Disclosure [Abstract]

Loss Per Share

6 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Loss Per Share

17. Loss per Share

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

	Transition period ended		Six-Months Ended		Year-ended		Year-ended
	December 31, 2021		December 31, 2020		June 30, 2021		June 30, 2020
			(unaudited)
Net Loss	$	14,427	$	15,868	$	26,583	$	42,030
Weighted-average common shares—outstanding, basic		24,915		21,564		22,674		20,291
Weighted-average common shares—outstanding, diluted		24,915		21,564		22,674		20,291
Net loss per common share, basic	$	0.58	$	0.74	$	1.17	$	2.07
Net loss per common share, diluted	$	0.58	$	0.74	$	1.17	$	2.07

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 all periods presented, diluted net loss per common share is the same as the basic net loss per share for those periods.

Retirement Plans

6 Months Ended

Dec. 31, 2021

Retirement Plans

18. 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 $966,000, $310,000, $733,000 and $713,000 in the transition period ended December 31, 2021, the six-months ended December 31, 2020 and the years ended June 30, 2021 and 2020.

Deferred compensation plans

The Company’s Deferred Compensation Plan (the "DCP"), which became effective on October 2021 allows for eligible management and highly compensated key employees to elect to defer a portion of their salary, bonus, commissions and RSU awards to later years. These deferrals are immediately vested and are subject to investment risk and a risk of forfeiture under certain circumstances. The Company matches 4% to 6% (depending on level) of employee contributions. These matching employer contributions are vested over a two-year period with 25% vesting on year one and 75% vesting on year two. Employer contributions to the DCP for the transition period ended December 31, 2021 was $16,000. The Company’s deferred compensation plan liability was $262,000 as of transition period ended December 31, 2021 and is included in other long-term liabilities.

The Company established a COLI to fund the DCP. The COLI is subject to creditor claims in the event of insolvency, but the assets held in the COLI are not available for general corporate purposes. Amounts in the COLI are invested in a number of funds. The securities are carried at the cash surrender value and are included in other long-term assets on the Consolidated Balance Sheets. We record investment gains and losses in operating expenses on the Consolidated Statements of Operations, along with the offsetting amount related to the increase or decrease in deferred compensation liability.

The fair values of the Company’s deferred compensation plan assets and liability are included in the table below. For additional information on the fair value hierarchy and the inputs used to measure fair value, see Note 5, Fair Value Measurements.

Fair Value as of December 31, 2021

Level 1

Level 2

Level 3

Total

Corporate-owned life insurance policies (1)

304

(1) The corporate-owned life insurance contracts are recorded at cash surrender value, which is provided by a third party and reflects the net asset value of the underlying publicly traded mutual funds, and are categorized as Level 2.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Principles of Consolidation

Deed of Cross Guarantee

6 Months Ended

Dec. 31, 2021

Guarantees [Abstract]

Deed of Cross Guarantee

19. 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 December 31, 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 December 31, 2021. Since December 31, 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 December 31, 2021 (being the transition period) 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).

	Transition period ended
(in thousands)	December 31, 2021
Revenues	$	242
Cost of sales		(129	)
Gross profit		113
Operating Expenses:
Sales and marketing expenses		(107	)
General and administrative expenses		81
Product development expense		(12	)
Total operating expenses		(38	)
Other Income		-
Net loss	$	75

	As of December 31,
(in thousands)	2021
ASSETS
Cash	$	154
Accounts receivable, net		35
Prepaids and other current assets		2,617
Inventory		4
Total assets		2,810
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued liabilities		10
Accrued wages and fringe benefits		93
Other current liabilities		2,699
Total liabilities		2,802
Contributed equity		232,747
Reserves		31,541
Accumulated deficit		(264,280	)
Total stockholders' equity (deficit)		8
Total liabilities and stockholders' equity (deficit)	$	2,810

Subsequent Events

6 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent Events

20. Subsequent Events

The Company has considered all events occurring subsequent to December 31, 2021 and has concluded that all significant events have been disclosed in the financial statements and accompanying notes.

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Reclassification

	Year-ended June 30, 2020
	As previously reported			Amount reclassified			As Reported
Sales and marketing expenses	$	(14,813	)	$	(893	)	$	(15,706	)
General and administrative expenses		(18,135	)		(14,890	)		(33,025	)
Research and development expenses		(8,461	)		(703	)		(9,164	)
Share-based compensation		(16,486	)		16,486			-
Total operating expenses		(57,895	)		-			(57,895	)
Operating loss		(42,679	)		-			(42,679	)
Loss before income taxes		(42,026	)		-			(42,026	)
Net loss		(42,030	)		-			(42,030	)

Use of Estimates

Foreign Currency Translation and Foreign Currency Transactions

Comprehensive 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 December 31, 2021		As of June 30, 2021		As of June 30, 2020
BARDA procurement and emergency preparedness services	$	9	$	3,583	$	—
BARDA expense reimbursements		299		353		356
Total	$	308	$	3,936	$	356

Fair Value of Financial Instruments

Marketable Securities

Accounts Receivable

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

	For the transition period			For the period			For the year-ended June 30,
	July 1 - December 31, 2021			July 1 - December 31, 2020			2021		2020
				(unaudited)
Allowance for doubtful accounts, at beginning of year	$	30		$	18		$	18	$	18
Bad debt expense		2			7			12		43
Deductions		(4	)		(13	)		-		(43	)
Allowance for doubtful accounts, at end of year	$	28		$	12		$	30	$	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

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

Deferred Compensation Plan and Investments in Corporate-Owned Life Insurance

Segment Reporting

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Reclassification of Share-based Compensation Expense

Summary of Other Receivables

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

	As of December 31, 2021		As of June 30, 2021		As of June 30, 2020
BARDA procurement and emergency preparedness services	$	9	$	3,583	$	—
BARDA expense reimbursements		299		353		356
Total	$	308	$	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):

	For the transition period			For the period			For the year-ended June 30,
	July 1 - December 31, 2021			July 1 - December 31, 2020			2021		2020
				(unaudited)
Allowance for doubtful accounts, at beginning of year	$	30		$	18		$	18	$	18
Bad debt expense		2			7			12		43
Deductions		(4	)		(13	)		-		(43	)
Allowance for doubtful accounts, at end of year	$	28		$	12		$	30	$	18

Marketable Securities (Tables)

6 Months Ended

Dec. 31, 2021

Available For Sale Securities [Abstract]

Summary of Amortized Cost and Estimates Fair Values of Debt Securities Available for Sale

The following table summarizes the amortized cost and estimates fair values of debt securities available for sale:

	As of December 31, 2021
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Carrying Value
(in thousands)
Cash Equivalents:
Money market funds	$	51,112	$	-	$	-		$	51,112
Current marketable securities:
Commercial paper	$	19,586		-		-		$	19,586
Corporate debt securities		7,068		-		(7	)		7,061
Asset-backed securities		3,002		-		-			3,002
Total current marketable securities	$	29,656	$	-	$	(7	)	$	29,649
Long-term marketable securities:
U.S Treasury securities		18,043		-		(89	)		17,954
Corporate debt securities		1,746		-		(8	)		1,738
Total Long-term marketable securities	$	19,789	$	-	$	(97	)		19,692

Summary of Maturities of Debt Securities Available for Sale

	As of December 31, 2021
	Amortized Cost		Carrying Value
Due in one year or less		29,656		29,649
Due after one year through three years		19,789		19,692

Fair Value Measurements (Tables)

6 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Summary of Financial Assets Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis, based on the three-tier fair value hierarchy:

	As of December 31, 2021
(in thousands)	Level 1		Level 2		Level 3		Total
Cash Equivalents
Money market funds	$	51,112	$	-	$	-	$	51,112
Total cash equivalents		51,112		-		-		51,112
Short-term marketable securities
Commercial paper		-		19,586		-		19,586
Asset-backed securities		-		3,002		-		3,002
Corporate debt securities		-		7,061		-		7,061
Total short-term marketable securities		-		29,649		-		29,649
Long-term investments
U.S Treasury securities		-		17,954		-		17,954
Corporate debt securities		-		1,738		-		1,738
Total long-term marketable securities		-		19,692		-		19,692
Total marketable securities and cash equivalents	$	51,112	$	49,341	$	-	$	100,453

Leases (Tables)

6 Months Ended

Dec. 31, 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):

	Transition Period Ended		Six-Months ended		Year-Ended		Year-Ended
	December 31, 2021		December 31, 2020		June 30, 2021		June 30, 2020
			(unaudited)
Operating lease cost	$	284	$	175	$	731	$	701
Variable lease cost		25		12		48		47
Total lease cost	$	309	$	187	$	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):

	Transition Period Ended		Six-Months ended		Year-Ended		Year-Ended
	December 31, 2021		December 31, 2020		June 30, 2021		June 30, 2020
			(unaudited)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	288	$	352	$	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 December 31, 2021			As of June 30, 2021			As of June 30, 2020
Reported as:
Operating lease right-of-use assets	$	1,544		$	1,480		$	2,347
Total right-of-use assets	$	1,544		$	1,480		$	2,347

Other current liabilities:
Operating lease liabilities, short-term	$	720		$	702		$	533
Operating lease liabilities, long term		918			878			1,917
Total operating lease liabilities	$	1,638		$	1,580		$	2,450
Operating lease weighted average remaining lease term (years)		2.30			2.67			3.91
Operating lease weighted average discount rate		6.51	%		6.70	%		7.50	%

Summary Of Maturities Of The Company's Operating Lease Liabilities

As of December 31, 2021, maturities of the Company’s operating lease liabilities are as follows (in thousands):

	Operating Leases
2022	$	802
2023		649
2024		314
2025		-
Total lease payments		1,765
Less imputed interest		(127	)
Total operating lease liabilities	$	1,638

Inventory (Tables)

6 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Summary Of Composition Of Inventories

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

	As of
	December 31, 2021		June 30, 2021		June 30, 2020
Raw materials	$	1,222	$	982	$	947
Work in process		176		241		—
Finished goods		734		424		178
Total inventory	$	2,132	$	1,647	$	1,125

Intangible Assets (Tables)

6 Months Ended

Dec. 31, 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 December 31, 2021							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		Gross Amount		Accumulated Amortization			Net Carry Amount
Patent 1		2	$	209	$	(182	)	$	27	$	264	$	(190	)	$	74	$	235	$	(101	)	$	134
Patent 2		11		123		(18	)		105		138		(16	)		122		74		(9	)		65
Patent 3		14		192		(25	)		167		163		(19	)		144		125		(9	)		116
Patent 5		20		46		(3	)		43		46		(2	)		44		26		-			26
Patent 6		20		39		(2	)		37		39		(1	)		38		-		-			-
Patent 7		13		2		-			2		-		-			-		-		-			-
Patent 8		20		3		-			3		3		-			3		-		-			-
Patent 10		19		3		-			3		-		-			-		-		-			-
Patent 11		19		6		-			6		-		-			-		-		-			-
Trademarks	Indefinite			50		-			50		47		-			47		23		-			23
Total intangible assets			$	673	$	(230	)	$	443	$	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 December 31, 2021 to be (in thousands):

	Estimated Amortization Expense
2023			76
2024			67
2025			67
2026			67
2027			67
Thereafter			49
Total		$	393

Property and Equipment, net (Tables)

6 Months Ended

Dec. 31, 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 December 31, 2021			As of June 30, 2021			As of June 30, 2020
Computer equipment	3 years	$	740		$	722		$	802
Computer software	3 years		811			775			369
Construction in progress			29			48			138
Furniture and fixtures	7 years		440			440			425
Laboratory equipment	5 years		566			523			194
Leasehold improvements	Lesser of life or lease term		242			242			216
RECELL Moulds	5 years		129			129			100
Less: accumulated amortization and depreciation			(1,695	)		(1,421	)		(881	)
Total plant and equipment, net		$	1,262		$	1,458		$	1,363

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

6 Months Ended

Dec. 31, 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 December 31, 2021		As of June 30, 2021		As of June 30, 2020
Prepaid expenses	$	1,124	$	853	$	792
Lease deposits	2			-		123
Accrued investment income	72			-		-
Other receivables		15	480		75
Total prepaids and other current assets	$	1,213	$	1,333	$	990

Summary of Other Long Term Assets

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

	As of December 31, 2021		As of June 30, 2021		As of June 30, 2020
BARDA contract costs	$	504	$	613	$	-
Deferred Compensation		304		-		-
Long-term lease deposits		124		126		1
Long-term prepaids		10		22		-
Total other long-term assets	$	942	$	761	$	1

Reporting Segment and Geographic Information (Tables)

6 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

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

Revenue by region were as follows (in thousands):

	Transition period ended		Six months ended		Year-ended		Year-ended
	December 31, 2021		December 31, 2020		June 30, 2021		June 30, 2020
			(unaudited)
Revenue:
United States	$	13,764	$	9,990	$	28,955	$	13,800
Foreign:
Australia	136			133		207		292
United Kingdom	56			40		70		171
Total	$	13,956	$	10,163	$	29,232	$	14,263

Revenue by Customer type were as follows (in thousands):

	Transition period ended		Six months ended		Year-ended		Year-ended
	December 31, 2021		December 31, 2020		June 30, 2021		June 30, 2020
			(unaudited)
Revenue:
Commercial sales		13,771	$	10,163	$	21,483	$	14,263
BARDA:
Product sales		—		—		7,595		—
Services for emergency preparedness		185		—		154		—
Total	$	13,956	$	10,163	$	29,232	$	14,263

Cost of sales by Customer type were as follows (in thousands):

	Transition period ended			Six months ended		Year-ended		Year-ended
	December 31, 2021			December 31, 2020		June 30, 2021		June 30, 2020
				(unaudited)
Cost of sales
Commercial cost	$	2,017		$	1,750	$	3,931	$	2,973
BARDA:
Product cost		(278	)		—		1,889		—
Emergency preparedness service cost		166			—		129		—
Total	$	1,905		$	1,750	$	5,949	$	2,973

Share-Based Payment Plans (Tables)

6 Months Ended

Dec. 31, 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 December 31, 2021:

	Outstanding Options		Outstanding Restricted Stock Units		Shares available for future issuance
2016 Plan		1,045,745		-		-
RSU Awards		-		71,260		-
2020 Plan		630,625		87,500		1,026,875
2021 AGM Awards		80,350		138,730		-

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

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

	Transition period ended		Six months ended		Year-ended		Year-ended
	December 31, 2021		December 31, 2020		June 30, 2021		June 30, 2020
			(unaudited)
Sales and marketing expenses	$	663	$	624	$	925	$	893
General and administrative expenses		2,318		1,992		4,095		14,890
Research and development expenses		607		304		644		703
Total	$	3,588	$	2,920	$	5,664	$	16,486

Summary Of Share Option Activity

A summary of share option activity as of December 31, 2021 and changes during the year then ended is presented below:

	Service Only Share Options			Performance Based Share Options			Market Awards		Total Share Options			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding shares at June 30, 2021		997,826			495,669			-		1,493,495		$	14.53		7.99	$	12,233,949
Granted		157,450			106,675			27,600		291,725			17.28
Exercised		(1,125	)		-			-		(1,125	)		6.06
Expired		(6,775	)		-			-		(6,775	)		29.28
Forfeited		(18,250	)		(2,350	)		-		(20,600	)		20.94
Outstanding shares at December 31, 2021		1,129,126			599,994			27,600		1,756,720			14.86		7.83		5,118,309
Exercisable at December 31, 2021		521,102			307,332			-		828,434		$	9.01		6.67	$	4,422,594

Summary of Valuation Assumptions Used in Share Options

	Transition Period Ended			Year Ended
	December 31, 2021			June 30, 2021			June 30, 2020
Expected volatility	68% - 75%			65% - 80%			75% - 90%
Weighted-average volatility		69	%		73	%		88	%
Expected dividends		0	%		0	%		0	%
Expected term (in years)	5 - 10			5 - 10			10
Risk-free interest rate	0.88% - 1.46%			0.77% - 1.64%			0.68% - 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			Market Condition		Total RSU's			Weighted Average Grant Date Fair Value per Unit
Unvested RSUs outstanding at June 30, 2021		47,507		52,507			-		100,014		$	38.17
Granted		67,250		111,340			47,640		226,230			13.57
Vested		-		(28,754	)		-		(28,754	)		36.15
Forfeited		-		-			-		-			-
Unvested RSUs outstanding at December 31, 2021		114,757		135,093			47,640		297,490		$	19.66

Income Taxes (Tables)

6 Months Ended

Dec. 31, 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:

	Transition Period Ended			Six-months ended			Year Ended			Year Ended
(amounts in thousands)	December 31, 2021			December 31, 2020			June 30, 2021			June 30, 2020
				(unaudited)
United States	$	(14,490	)	$	(15,689	)	$	(26,478	)	$	(20,793	)
Foreign		88			(158	)		(67	)		(21,233	)
Income (loss) from continuing operations before income taxes	$	(14,402	)	$	(15,847	)	$	(26,545	)	$	(42,026	)

Summary Of Income Tax Benefit (Expense)

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

	Transition Period Ended		Six-months ended		Year Ended		Year Ended
(amounts in thousands)	December 31, 2021		December 31, 2020		June 30, 2021		June 30, 2020
			(unaudited)
Current:
Federal	$	—	$	—	$	—	$	—
State		25		21		38		4
Foreign		—		—		—		—
		25		21		38		4
Deferred:
Federal		—		—		—		—
State		—		—		—		—
Foreign		—		—		—		—
		—		—		—		—
Total Income Tax Expense (Benefit)	$	25	$	21	$	38	$	4

Summary Of Provision For Income Taxes

(amounts in thousands)	Transition Period Ended December 31, 2021			Six-months ended December 31, 2020			Year Ended June 30, 2021			Year Ended June 30, 2020
				(unaudited)
Tax expense (benefit) at U.S. statutory rate	$	(3,024	)	$	(3,328	)	$	(5,574	)	$	(8,827	)
State income taxes		25			21			36			4
Foreign rate differential		5			(10	)		(5	)		(1,389	)
Tax Credits		—			—			—			—
Share-based compensation		997			(216	)		(27	)		(3,794	)
Permanent differences		29			230			233			669
Change in tax rate		—			—			—			—
Net change in valuation allowance		1,993			3,324			5,375			13,341
Income tax expense (benefit)	$	25		$	21		$	38		$	4

Summary Of Deferred Income Tax

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

	Transition Period Ended December 31, 2021			Six-months ended December 31, 2020			Year-Ended June 30, 2021			Year-Ended June 30, 2020
				(unaudited)
Deferred tax liabilities
ROU Asset	$	(404	)	$	(471	)	$	(389	)	$	(608	)
Intangible assets	$	(25	)	$	—		$	—		$	—
Property, plant and equipment		(5	)		(5	)		(5	)		-
Total deferred tax liabilities	$	(434	)	$	(476	)	$	(394	)	$	(608	)
Deferred tax assets
Property, plant and equipment	$	—		$	—		$	—		$	17
Accrued expenses		1,151			912			686			564
Intangible assets		—			278			262			255
Stock based compensation		2,739			2,991			3,215			2,996
Lease liability		428			501			415			634
Net operating loss carryforward		46,918			42,355			44,282			37,756
Other		483			332			609			285
Total deferred tax assets	$	51,719		$	47,369		$	49,469		$	42,507
Less valuation allowance		(51,285	)		(46,893	)		(49,075	)		(41,899	)
Net deferred tax assets	$	434		$	476		$	394		$	608
Net deferred tax assets / (liabilities)	$	—		$	—		$	—		$	—

Loss Per Share (Tables)

6 Months Ended

Dec. 31, 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:

	Transition period ended		Six-Months Ended		Year-ended		Year-ended
	December 31, 2021		December 31, 2020		June 30, 2021		June 30, 2020
			(unaudited)
Net Loss	$	14,427	$	15,868	$	26,583	$	42,030
Weighted-average common shares—outstanding, basic		24,915		21,564		22,674		20,291
Weighted-average common shares—outstanding, diluted		24,915		21,564		22,674		20,291
Net loss per common share, basic	$	0.58	$	0.74	$	1.17	$	2.07
Net loss per common share, diluted	$	0.58	$	0.74	$	1.17	$	2.07

Retirement Plans (Tables)

6 Months Ended

Dec. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Summary of Fair Values of Company's Deferred Compensation Plan Assets and Liability

Fair Value as of December 31, 2021

Level 1

Level 2

Level 3

Total

Corporate-owned life insurance policies (1)

304

Deed of Cross Guarantee (Tables)

6 Months Ended

Dec. 31, 2021

Guarantees [Abstract]

Consolidated Income Statement Of The Parties To The Deed

	Transition period ended
(in thousands)	December 31, 2021
Revenues	$	242
Cost of sales		(129	)
Gross profit		113
Operating Expenses:
Sales and marketing expenses		(107	)
General and administrative expenses		81
Product development expense		(12	)
Total operating expenses		(38	)
Other Income		-
Net loss	$	75

Consolidated Balance Sheet Of The Parties To The Deed

	As of December 31,
(in thousands)	2021
ASSETS
Cash	$	154
Accounts receivable, net		35
Prepaids and other current assets		2,617
Inventory		4
Total assets		2,810
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued liabilities		10
Accrued wages and fringe benefits		93
Other current liabilities		2,699
Total liabilities		2,802
Contributed equity		232,747
Reserves		31,541
Accumulated deficit		(264,280	)
Total stockholders' equity (deficit)		8
Total liabilities and stockholders' equity (deficit)	$	2,810

The Company - Additional Information (Detail)	6 Months Ended
The Company - Additional Information (Detail)	Dec. 31, 2021 shares
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	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

Summary of Significant Accounting Policies - Additional Information (Detail)		6 Months Ended		12 Months Ended
	Jul. 31, 2020	Dec. 31, 2021 USD ($) PerformanceObligation	Dec. 31, 2020 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Share-based compensation		$ 3,588,000	$ 2,920,000	$ 5,664,000	$ 16,486,000
Gain (loss) on foreign currency transactions		$ 72,000	(229,000)	(228,000)	(7,000)
Contract description		For revenues related to the BARDA contract within the scope of ASC 606, the Company identified two performance obligations (i) the procurement of 5,614 RECELL units, (ii) emergency preparedness services
Number of performance obligations \| PerformanceObligation		2
Total transaction price of contract		$ 9,200,000
Cash at deposit institutions		4,400,000		54,200,000	73,600,000
Cash in foreign institutions		203,000		273,000	466,000
Cash equivalents held		51,100,000		56,500,000	0
Restricted cash		201,000		201,000	201,000
Allowance for doubtful accounts		$ 28,000	12,000	30,000	18,000	$ 18,000
Lease renewal period		3 years
Capitalized patent costs		$ 673,000		700,000	483,000
Impairment of intangible assets		42,000
Impairments of long-lived assets			0	0	0
Advertising expenses		$ 16,000	$ 43,000	$ 73,000	$ 51,000
Contractual term		10 years			10 years
Deferred Compensation Plans
Summary Of Significant Accounting Policies [Line Items]
Employer matching contributions, Vesting period		2 years
Vesting on Year One \| Deferred Compensation Plans
Summary Of Significant Accounting Policies [Line Items]
Employer matching contributions, Vesting percentage		25.00%
Vesting on Year Two \| Deferred Compensation Plans
Summary Of Significant Accounting Policies [Line Items]
Employer matching contributions, Vesting percentage		75.00%
Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, customer		one		no	no
Accounts Receivable \| Customer Concentration Risk \| Commercial Customer
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		10.00%		10.00%	10.00%
Revenue Benchmark
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, customer		no	no	no	no
Revenue Benchmark \| Customer Concentration Risk \| Commercial Customer
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		26.50%	0.00%	1.30%	0.00%
Accounts Receivable Revenue \| Customer Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		3.00%		91.00%	0.00%
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		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		10 years
Maximum \| Property, Plant and Equipment
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of property plant and equipment		seven years
RECELL system
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
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]
Gain (loss) on foreign currency transactions		37,000	$ (115,000)	$ (131,000)
General and Administrative Expense \| Non-US
Summary Of Significant Accounting Policies [Line Items]
Gain (loss) on foreign currency transactions		35,000	$ (114,000)	$ (97,000)	$ (7,000)
Revenue \| RECELL system
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					$ (16,486,000)

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

6 Months Ended

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Jun. 30, 2021

Jun. 30, 2020

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

^[1]

$ (8,472)

$ (6,865)

$ (14,660)

$ (15,706)

^[1]

(10,996)

(11,703)

(22,400)

(33,025)

^[1]

(7,586)

(6,735)

(14,818)

(9,164)

Share-based compensation

(3,588)

(2,920)

(5,664)

(16,486)

(27,054)

(25,303)

(51,878)

(57,895)

Operating loss

(14,423)

(15,845)

(26,540)

(42,679)

Loss before income taxes

(14,402)

(15,847)

(26,545)

(42,026)

As Previously Reported [Member]

$ (14,427)

$ (15,868)

$ (26,583)

(42,030)

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

(14,813)

(18,135)

(8,461)

Share-based compensation

(16,486)

(57,895)

Operating loss

(42,679)

Loss before income taxes

(42,026)

Amount Reclassified [Member]

(42,030)

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

(893)

(14,890)

(703)

Share-based compensation

$ 16,486

[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	Dec. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Other Receivables Net Current [Abstract]
BARDA procurement and emergency preparedness services	$ 9	$ 3,583
BARDA expense reimbursements	299	353	$ 356
Total	$ 308	$ 3,936	$ 356

Summary of Significant Accounting Policies - Summary of Allowance for Doubtful Account (Detail) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Allowance For Credit Loss [Abstract]
Allowance for doubtful accounts, at beginning of year	$ 30,000	$ 18,000	$ 18,000	$ 18,000
Bad debt expense	2,000	7,000	12,000	43,000
Deductions	(4,000)	(13,000)		(43,000)
Allowance for doubtful accounts, at end of year	$ 28,000	$ 12,000	$ 30,000	$ 18,000

Marketable Securities - Summary of Amortized Cost and Estimates Fair Values of Debt Securities Available for Sale (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities	$ 29,656
Gross Unrealized Holding Losses, Current marketable securities	(7)
Carrying Value, Current marketable securities	29,649
Amortized Cost, Long-term marketable securities	19,789
Gross Unrealized Holding Losses, Long-term marketable securities	(97)
Carrying Value, Long-term marketable securities	19,692
Cash Equivalents \| Money Market Funds
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	51,112
Carrying Value	51,112
Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities	19,586
Carrying Value, Current marketable securities	19,586
Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities	7,068
Gross Unrealized Holding Losses, Current marketable securities	(7)
Carrying Value, Current marketable securities	7,061
Amortized Cost, Long-term marketable securities	1,746
Gross Unrealized Holding Losses, Long-term marketable securities	(8)
Carrying Value, Long-term marketable securities	1,738
Asset-backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities	3,002
Carrying Value, Current marketable securities	3,002
U.S Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Long-term marketable securities	18,043
Gross Unrealized Holding Losses, Long-term marketable securities	(89)
Carrying Value, Long-term marketable securities	$ 17,954

Marketable Securities - Summary of Maturities of Debt Securities Available for Sale (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Due after one year through three years	$ 19,789
Due after one year through three years	19,692
Contractual Maturities
Schedule Of Available For Sale Securities [Line Items]
Available for sale securities, Due in one year or less, Amortized cost	29,656
Available for sale securities, Due in one year or less, Carrying value	$ 29,649

Marketable Securities - Additional Information (Detail) - USD ($)	6 Months Ended
	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Schedule Of Available For Sale Securities [Line Items]
Unrealized gain on marketable securities	$ 0
Unrealized loss on marketable securities	104,000
Net unrealized loss on marketable securities	104,000
Credit loss recognized	0
Marketable securities	0	$ 0	$ 0	$ 0
Prepaids and Other Current Assets
Schedule Of Available For Sale Securities [Line Items]
Accrued interest income	$ 72,000

Fair Value Measurements - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	$ 29,649
Total long-term marketable securities	19,692
Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	51,112
Total short-term marketable securities	29,649
Total long-term marketable securities	19,692
Total marketable securities and cash equivalents	100,453
Fair Value on Recurring Basis \| Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	51,112
Total marketable securities and cash equivalents	51,112
Fair Value on Recurring Basis \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	29,649
Total long-term marketable securities	19,692
Total marketable securities and cash equivalents	49,341
Money Market Funds \| Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	51,112
Money Market Funds \| Fair Value on Recurring Basis \| Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	51,112
Commercial Paper \| Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	19,586
Commercial Paper \| Fair Value on Recurring Basis \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	19,586
Asset-backed Securities \| Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	3,002
Asset-backed Securities \| Fair Value on Recurring Basis \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	3,002
Corporate Debt Securities \| Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	7,061
Total long-term marketable securities	1,738
Corporate Debt Securities \| Fair Value on Recurring Basis \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	7,061
Total long-term marketable securities	1,738
U.S Treasury Securities \| Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total long-term marketable securities	17,954
U.S Treasury Securities \| Fair Value on Recurring Basis \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total long-term marketable securities	$ 17,954

Leases - Additional Information (Detail)	Aug. 31, 2021 USD ($)
Leases [Abstract]
Increase in operating lease ROU assets and operating lease liabilities	$ 392,000

Leases - Summary Of Lease Cost (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Lease Cost [Abstract]
Operating lease cost	$ 284	$ 175	$ 731	$ 701
Variable lease cost	25	12	48	47
Total lease cost	$ 309	$ 187	$ 779	$ 748

Leases - Summary Of Supplemental Cash Flow Information Related To Operating Leases (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Disclosure Of Supplemental Cash Flow Information Related To Operating Leases [Abstract]
Operating cash outflows from operating leases	$ 288	$ 352	$ 735	$ 675

Leases - Summary Of Supplemental Balance Sheet Information Related To Operating Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Disclosure Of Supplemental Balance Sheet Information Related To Operating Leases [Abstract]
Operating lease right-of-use assets	$ 1,544	$ 1,480	$ 2,347
Total right-of-use assets	1,544	1,480	2,347
Operating lease liabilities, short-term	$ 720	$ 702	$ 533
Operating Lease Liability Current Statement Of Financial Position [Extensible List]	Other current liabilities	Other current liabilities	Other current liabilities
Operating lease liabilities, long term	$ 918	$ 878	$ 1,917
Total operating lease liabilities	$ 1,638	$ 1,580	$ 2,450
Operating lease weighted average remaining lease term (years)	2 years 3 months 18 days	2 years 8 months 1 day	3 years 10 months 28 days
Operating lease weighted average discount rate	6.51%	6.70%	7.50%

Leases - Summary Of Maturities Of The Company's Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Operating Lease Liabilities Payments Due [Abstract]
2022	$ 802
2023	649
2024	314
Total lease payments	1,765
Less imputed interest	(127)
Total operating lease liabilities	$ 1,638	$ 1,580	$ 2,450

Inventory - Summary Of Composition Of Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 1,222	$ 982	$ 947
Work in process	176	241
Finished goods	734	424	178
Total inventory	$ 2,132	$ 1,647	$ 1,125

Inventory - Additional Information (Detail) - USD ($)	6 Months Ended		12 Months Ended
Inventory - Additional Information (Detail) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Inventory Disclosure [Abstract]
Inventory impairments	$ 44,000		$ 226,000	$ 84,000
Change in allowance of inventory obsolescence and charges		$ 82,000

Intangible Assets - Summary Of Composition Of Intangible Assets (Detail) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 673	$ 700	$ 483
Finite Lived Intangible Assets, Accumulated Amortization	(230)	(228)	(119)
Finite Lived Intangible Assets, Net Carrying Amount	393
Intangible Assets, Net (Excluding Goodwill)	443	472	364
Trademarks
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 50	47	23
Patent 1
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	2 years
Finite Lived Intangible Assets, Gross Amount	$ 209	264	235
Finite Lived Intangible Assets, Accumulated Amortization	(182)	(190)	(101)
Finite Lived Intangible Assets, Net Carrying Amount	$ 27	74	134
Patent 2
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	11 years
Finite Lived Intangible Assets, Gross Amount	$ 123	138	74
Finite Lived Intangible Assets, Accumulated Amortization	(18)	(16)	(9)
Finite Lived Intangible Assets, Net Carrying Amount	$ 105	122	65
Patent 3
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	$ 192	163	125
Finite Lived Intangible Assets, Accumulated Amortization	(25)	(19)	(9)
Finite Lived Intangible Assets, Net Carrying Amount	$ 167	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	46	26
Finite Lived Intangible Assets, Accumulated Amortization	(3)	(2)
Finite Lived Intangible Assets, Net Carrying Amount	$ 43	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	39
Finite Lived Intangible Assets, Accumulated Amortization	(2)	(1)
Finite Lived Intangible Assets, Net Carrying Amount	$ 37	38
Patent 7
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	13 years
Finite Lived Intangible Assets, Gross Amount	$ 2
Finite Lived Intangible Assets, Net Carrying Amount	$ 2
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	3
Finite Lived Intangible Assets, Net Carrying Amount	$ 3	$ 3
Patent 10
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	19 years
Finite Lived Intangible Assets, Gross Amount	$ 3
Finite Lived Intangible Assets, Net Carrying Amount	$ 3
Patent 11
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	19 years
Finite Lived Intangible Assets, Gross Amount	$ 6
Finite Lived Intangible Assets, Net Carrying Amount	$ 6

Intangible Assets - Additional Information (Details) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Impairment of intangible assets	$ 42,000	$ 0	$ 0	$ 0
Amortization of intangible assets	$ 56,000	$ 49,000	$ 109,000	$ 119,000

Intangible Assets - Summary of Future Amortization of Amortizable Intangible assets held (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2023	$ 76
2024	67
2025	67
2026	67
2027	67
Thereafter	49
Finite Lived Intangible Assets, Net Carrying Amount	$ 393

Property and Equipment, net - Summary Of Composition Of Property And Equipment (Detail) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Line Items]
Less: accumulated amortization and depreciation	$ (1,695)	$ (1,421)	$ (881)
Total plant and equipment, net	$ 1,262	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	$ 740	722	802
Computer Software
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Property, Plant and Equipment, Gross	$ 811	775	369
Construction In Progress
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 29	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	440	425
Laboratory Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Property, Plant and Equipment, Gross	$ 566	523	194
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Useful Lives	Lesser of life or lease term
Property, Plant and Equipment, Gross	$ 242	242	216
RECELL Moulds
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Property, Plant and Equipment, Gross	$ 129	$ 129	$ 100

Property and Equipment, net - Additional Information (Detail) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Property Plant And Equipment [Abstract]
Depreciation	$ 274,000	$ 324,000	$ 606,000	$ 346,000

Prepaids and Other Current Assets and Other Long-Term Assets - Summary of Prepaids and Other Current Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Prepaids And Other Current Assets And Other Long Term Assets [Abstract]
Prepaid expenses	$ 1,124	$ 853	$ 792
Lease deposits	2		123
Accrued investment income	72
Other receivables	15	480	75
Total prepaids and other current assets	$ 1,213	$ 1,333	$ 990

Prepaids and Other Current Assets and Other Long-Term Assets - Summary of Other Long Term Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Other Assets Noncurrent Disclosure [Abstract]
BARDA contract costs	$ 504	$ 613
Deferred Compensation	304
Long-term lease deposits	124	126	$ 1
Long-term prepaids	10	22
Total other long-term assets	$ 942	$ 761	$ 1

Reporting Segment and Geographic Information - Additional Information (Details)	6 Months Ended
	Dec. 31, 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	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue:
Revenues	$ 13,956	$ 10,163	$ 29,232	$ 14,263
Cost of sales
Cost of sales	1,905	1,750	5,949	2,973
Cost of sales	(278)		343
Commercial Sales
Revenue:
Revenues	13,771	10,163	21,483	14,263
Product Sales
Revenue:
Revenues			7,595
Services For Emergency Preparedness
Revenue:
Revenues	185		154
Commercial Cost
Cost of sales
Cost of sales	2,017	1,750	3,931	2,973
Product Cost
Cost of sales
Cost of sales	(278)		1,889
Emergency Preparedness Service Cost
Cost of sales
Cost (credit) of revenue	166		129
United States
Revenue:
Revenues	13,764	9,990	28,955	13,800
Foreign \| Australia
Revenue:
Revenues	136	133	207	292
Foreign \| United Kingdom
Revenue:
Revenues	$ 56	$ 40	$ 70	$ 171

Contingencies - Additional Information (Detail)	Dec. 31, 2021 USD ($)
Threatened Litigation
Litigation liability	$ 0

Common and Preferred Stock - Additional Information (Detail) $ / shares in Units, $ in Thousands			6 Months Ended	12 Months Ended
	Mar. 01, 2021 USD ($) $ / shares shares	Jun. 29, 2020	Dec. 31, 2021 $ / shares shares	Jun. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2020 USD ($) $ / shares shares
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	200,000,000
Common stock par value \| $ / shares			$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock shares authorized			10,000,000	10,000,000	10,000,000
Preferred stock par value \| $ / shares			$ 0.0001	$ 0.0001	$ 0.0001
Common stock shares issued			24,925,743	24,895,864	21,467,912
Common stock shares outstanding			24,925,743	24,895,864	21,467,912
Preferred stock shares outstanding			0	0	0
Stock issued during period, value, new issues \| $				$ 69,106	$ 81,702
Director Share Plan
Class Of Stock [Line Items]
Stock shares issued in consideration of services					15,853
Common Stock
Class Of Stock [Line Items]
Common stock shares issued during the period					15,853
Sale of stock issue price per share \| $ / shares	$ 21.50
Stock issued during period, shares, new issues	3,214,250			3,214,250	2,033,898
Stock issued during period, value, new issues \| $	$ 69,100
Capital issuance expenses \| $	$ 5,100
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.
Private Placement
Class Of Stock [Line Items]
Proceeds from private placement \| $					$ 81,700
Common stock shares issued during the period					2,033,898
Sale of stock issue price per share \| $ / shares					$ 40.17
Sale of stock consideration received on transaction \| $					$ 76,600

Revenue - Additional Information (Detail)		6 Months Ended		12 Months Ended
Revenue - Additional Information (Detail)	Jul. 31, 2020	Dec. 31, 2021 USD ($) PerformanceObligation	Dec. 31, 2020 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract description		For revenues related to the BARDA contract within the scope of ASC 606, the Company identified two performance obligations (i) the procurement of 5,614 RECELL units, (ii) emergency preparedness services
Number of performance obligations \| PerformanceObligation		2
Capiitalized fulfilment costs		$ 504,000		$ 613,000
Performance obligation estimated revenue expected to be recognised		952,000		1,100,000	$ 435,000
Contract with customer assets		0		0	0
Contract with customers non current liability		952,000		1,075,000	435,000
Contract with customer liability revenue recognized		185,000
Contract cost amortization		167,000		129,000
Contract cost impairment loss		0	$ 0	0	0
Cost of Sales
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract cost amortization		167,000	0	129,000	0
Other Noncurrent Assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Capiitalized fulfilment costs		$ 504,000		613,000	0
RECELL system
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of units will be delivered	5,614
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.
Deferred cost liability released		$ 278,000
Description of deferred cost liability released		Company released $278,000 of deferred cost liability due to extended shelf life from 18 months to two years of the RECELL product
Number of performance obligations \| PerformanceObligation		2
BARDA \| Other Current Liabilities
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred cost current		$ 0		77,000
BARDA \| Other Long-term Liabilities
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred cost non current		64,000		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		64,000		343,000	0
Services recognised		185,000	0	154,000	0
Performance obligation estimated revenue expected to be recognised		517,000		665,000
Revenue from performance obligation recognised			$ 0	7,600,000	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		$ 435,000	$ 435,000

Share-Based Payment Plans - Additional Information (Detail) - USD ($)		1 Months Ended		6 Months Ended		12 Months Ended
	Dec. 22, 2021	Jun. 30, 2020	Nov. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Oct. 14, 2021	Nov. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reverse stock split				reverse split on a 1 for 100 basis
Share-based compensation				$ 3,588,000	$ 2,920,000	$ 5,664,000	$ 16,486,000
Income tax benefit (expense)				0	0	0	0
Proceeds from exercise of stock options				$ 7,000	$ 1,000	$ 63,000	$ 474,000
Share based compensation by share based payment arrangement other than option weighted average grant date fair value				$ 13.57
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period				226,230
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number				297,490		100,014
Milestone performance awards to CEO				1,756,720		1,493,495
Contractual term				10 years			10 years
Granted				291,725	0
Performance Based Share Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Milestone performance awards to CEO				599,994		495,669
Contractual term				10 years
Granted				106,675
Market Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Milestone performance awards to CEO				27,600
Contractual term				10 years
Granted				27,600
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				$ 13.57	$ 22.65	$ 22.65	$ 39.12
Share based compensation by share based payment arrangement other than options total fair value of shares vested				$ 599,000	$ 4,100,000	$ 4,900,000	$ 9,200,000
Unrecognized share based compensation compensation expense relating to RSUs				$ 3,800,000
Non Options Service Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share based compensation compensation expense relating to stock options weighted average period of recognition				1 year 2 months 12 days
Unrecognized share based compensation compensation expense relating to RSUs				$ 1,100,000
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period				67,250
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number				114,757		47,507
Non Option Performance Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share based compensation compensation expense relating to stock options weighted average period of recognition				1 year 10 months 2 days
Unrecognized share based compensation compensation expense relating to RSUs				$ 2,500,000
Unrecognized share based compensation compensation expense relating to RSUs in respect of nonvested awards determined not to be probable				900,000
Remaining unrecognized share based compensation compensation expense relating to RSUs				$ 1,600,000
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period				111,340
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number				135,093		52,507
Non Option Market Condition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share based compensation compensation expense relating to stock options weighted average period of recognition				3 years 1 month 20 days
Unrecognized share based compensation compensation expense relating to RSUs				$ 200,000
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period				47,640
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number				47,640
2020 Plan
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
Milestone performance awards to CEO				630,625
2020 Plan \| 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%
2020 Plan \| 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%
2020 Plan \| 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%
2020 Plan \| 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%
2020 Plan \| 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]
Reverse stock split				reverse stock split of 100:1
Share based compensation by share based payment arrangement weighted average grant date of fair value of options granted				$ 10.35	$ 0	$ 14.08	$ 26.56
Share based compensation by share based payment arrangement intrinsic value of options exercised				$ 13,000	$ 80,000	$ 221,000	$ 3,100,000
Proceeds from exercise of stock options				7,000	$ 1,000	$ 63,000	$ 474,000
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				$ 4,300,000
Unrecognized share based compensation compensation expense relating to stock options weighted average period of recognition				1 year 5 months 15 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				$ 2,600,000
Unrecognized share based compensation compensation expense relating to stock options weighted average period of recognition				1 year 10 months 9 days
Employee Share Plan And Incentive Option Plan Two Thousand And Sixteen \| Market Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share based compensation compensation expense relating to stock options				$ 100,000
Unrecognized share based compensation compensation expense relating to stock options weighted average period of recognition				3 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			395,542
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
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number				47,507
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]
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number				23,753
Milestone performance awards to CEO on Nov 2019						253,021
Share-based compensation arrangement by share-based payment award, equity instruments other than options released				229,268
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			FDA approval of the next generation RECELL device prior to June 30, 2022. – Performance criteria has been assessed as not probable.
2021 AGM Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Milestone performance awards to CEO				80,350
2021 AGM Awards \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting percentage	25.00%
Aggregate number of options and RSU	150,480
Tenure awards to CEO	37,600
Tenure option awards to CEO	13,800
2021 AGM Awards \| Performance Based Share Options \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Milestone performance awards to CEO	37,640
Milestone performance awards to CEO	13,800
2021 AGM Awards \| Performance Based Share Options \| Chief Executive Officer \| 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	9,410 awards (5,960 RSUs and 3,450 options) - Achieve Centers for Medicare and Medicaid Services reimbursement for out-patient transitional pass-through payment code (TPT) by June 30, 2022
Milestone performance awards to CEO	9,410
Milestone performance awards to CEO	3,450
2021 AGM Awards \| Performance Based Share Options \| Chief Executive Officer \| 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	9,410 awards (5,960 RSUs and 3,450 options) - Achieve Japanese approval from Pharmaceuticals and Medical Device Agency (PMDA) and reimbursement code by September 30, 2022
Milestone performance awards to CEO	9,410
Milestone performance awards to CEO	3,450
2021 AGM Awards \| Performance Based Share Options \| Chief Executive Officer \| 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	9,410 awards (5,960 RSUs and 3,450 options) - Achieve profitability of the Company’s Burns business for two consecutive quarters by March 31, 2023
Milestone performance awards to CEO	9,410
Milestone performance awards to CEO	3,450
2021 AGM Awards \| Performance Based Share Options \| Chief Executive Officer \| Share Based Compensation Award 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	9,410 awards (5,960 RSUs and 3,450 options) - Achieve US FDA approval of vitiligo indication by December 31, 2023
Milestone performance awards to CEO	9,410
Milestone performance awards to CEO	3,450
2021 AGM Awards \| Market Awards \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Milestone performance awards to CEO	75,240
Milestone performance awards to CEO	27,600
2021 AGM Awards \| Market Awards \| Chief Executive Officer \| 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	37,620 (23,820 RSUs and 13,800 options) - Achieve a doubling based on a 10-day volume-weighted average price of the Company’s share price as of the date of the 2021 Annual Meeting (being December 14, 2021) by June 30, 2023. The target share price is $25.74.
Milestone performance awards to CEO	37,620
Milestone performance awards to CEO	13,800
Targeted share Price	$ 25.74
2021 AGM Awards \| Market Awards \| Chief Executive Officer \| 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	37,620 (23,820 RSUs and 13,800 options) - Achieve a market capitalization of the Company of greater than or equal to US$1.25 billion (as compared to market capitalization of ~US$435M as of October 14, 2021), and maintain that market capitalization for at least 30 consecutive calendar days on or before December 31, 2024.
Milestone performance awards to CEO	37,620
Milestone performance awards to CEO	13,800
Market capitalization	$ 1,250,000,000							$ 435,000,000
2021 AGM Awards \| Restricted Stock Units (RSUs) \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tenure RSU awards to CEO	23,800
2021 AGM Awards \| Non Option Performance Based Restricted Stock Units \| 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	23,840
2021 AGM Awards \| Non Option Performance Based Restricted Stock Units \| Chief Executive Officer \| Share-based Payment Arrangement, Tranche One
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	5,960
2021 AGM Awards \| Non Option Performance Based Restricted Stock Units \| Chief Executive Officer \| Share-based Payment Arrangement, Tranche Two
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	5,960
2021 AGM Awards \| Non Option Performance Based Restricted Stock Units \| Chief Executive Officer \| Share-based Payment Arrangement, Tranche Three
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	5,960
2021 AGM Awards \| Non Option Performance Based Restricted Stock Units \| Chief Executive Officer \| Share Based Compensation Award Tranche Four
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	5,960
2021 AGM Awards \| Non Option Market Condition \| 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	47,640
2021 AGM Awards \| Non Option Market Condition \| Chief Executive Officer \| Share-based Payment Arrangement, Tranche One
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	23,820
2021 AGM Awards \| Non Option Market Condition \| Chief Executive Officer \| Share-based Payment Arrangement, Tranche Two
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	23,820
Two Thousand And Twenty One A G M Plan \| Board of Director \| Service Period Milestone
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting period	12 months
Aggregate number of options and RSU	68,600
Tenure awards to Board of Director	41,400
Tenure option awards to Board of Director	15,300
Tenure awards granted to Board of Director	6,900
Tenure option awards granted to Board of Director	2,550
Two Thousand And Twenty One A G M Plan \| Board of Director \| Vesting Percentage Milestone
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting percentage	33.33%
Tenure awards to Board of Director	27,200
Tenure option awards to Board of Director	9,850
Tenure awards granted to Board of Director	13,600
Tenure option awards granted to Board of Director	4,925
Two Thousand And Twenty One A G M Plan \| Restricted Stock Units (RSUs) \| Board of Director \| Service Period Milestone
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tenure RSU awards to Board of Director	26,100
Tenure RSU awards granted to Board of Director	4,350
Two Thousand And Twenty One A G M Plan \| Restricted Stock Units (RSUs) \| Board of Director \| Vesting Percentage Milestone
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tenure RSU awards to Board of Director	17,350
Tenure RSU awards granted to Board of Director	8,675

Share-Based Payment Plans - Summary Of Company Share Based Award Plans (Detail) - shares	Dec. 31, 2021	Jun. 30, 2021
Schedule Of Company Stock Based Award Plans [Line Items]
Outstanding Options	1,756,720	1,493,495
2020 Plan
Schedule Of Company Stock Based Award Plans [Line Items]
Outstanding Options	630,625
Outstanding Restricted Stock Units	87,500
Shares available for future issuance	1,026,875
2021 AGM Awards
Schedule Of Company Stock Based Award Plans [Line Items]
Outstanding Options	80,350
Outstanding Restricted Stock Units	138,730
Employee Stock Option \| 2016
Schedule Of Company Stock Based Award Plans [Line Items]
Outstanding Options	1,045,745
Restricted Stock
Schedule Of Company Stock Based Award Plans [Line Items]
Outstanding Restricted Stock Units	71,260

Share-Based Payment Plans - Summary Of Stock-based Compensation Is Reflected In The Statements Of Operations (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	$ 3,588	$ 2,920	$ 5,664	$ 16,486
Selling and Marketing Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	663	624	925	893
General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	2,318	1,992	4,095	14,890
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	$ 607	$ 304	$ 644	$ 703

Share-Based Payment Plans - Summary Of Share Option Activity (Detail) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance	1,493,495
Granted	291,725	0
Exercised	(1,125)
Expired	(6,775)
Forfeited	(20,600)
Ending balance	1,756,720		1,493,495
Exercisable	828,434
Weighted Average exercise price beginning balance	$ 14.53
Weighted Average exercise price granted	17.28
Weighted Average exercise price exercised	6.06
Weighted Average exercise price expired	29.28
Weighted Average exercise price forfeited	20.94
Weighted Average exercise price ending balance	14.86		$ 14.53
Weighted Average exercise price exercisable	$ 9.01
Weighted average contractual term	7 years 9 months 29 days		7 years 11 months 26 days
Weighted average contractual term in exercisable	6 years 8 months 1 day
Aggregate intrinsic value	$ 5,118,309		$ 12,233,949
Aggregate intrinsic value of exercisable	$ 4,422,594
Service Only Share Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance	997,826
Granted	157,450
Exercised	(1,125)
Expired	(6,775)
Forfeited	(18,250)
Ending balance	1,129,126		997,826
Exercisable	521,102
Performance Based Share Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance	495,669
Granted	106,675
Forfeited	(2,350)
Ending balance	599,994		495,669
Exercisable	307,332
Market Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	27,600
Ending balance	27,600

Share-Based Payment Plans - Summary Of Company Unvested RSUs (Detail)	6 Months Ended
	Dec. 31, 2021 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested RSUs beginning balance	100,014
Unvested RSUs granted	226,230
Unvested RSUs vested	(28,754)
Unvested RSUs ending balance	297,490
Weighted average grant date fair value per unit beginning balance \| $ / shares	$ 38.17
Weighted average grant date fair value per unit granted \| $ / shares	13.57
Weighted average grant date fair value per unit vested \| $ / shares	36.15
Weighted average grant date fair value per unit ending balance \| $ / shares	$ 19.66
Non Options Service Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested RSUs beginning balance	47,507
Unvested RSUs granted	67,250
Unvested RSUs ending balance	114,757
Non Option Performance Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested RSUs beginning balance	52,507
Unvested RSUs granted	111,340
Unvested RSUs vested	(28,754)
Unvested RSUs ending balance	135,093
Non Option Market Condition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested RSUs granted	47,640
Unvested RSUs ending balance	47,640

Share-based Payment Plans - Summary of Valuation Assumptions Used in Share Options (Detail)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Expected volatility minimum	68.00%	65.00%	75.00%
Expected volatility maximum	75.00%	80.00%	90.00%
Weighted-average volatility	69.00%	73.00%	88.00%
Expected dividends	0.00%	0.00%	0.00%
Contractual term	10 years		10 years
Risk-free interest rate minimum	0.88%	0.77%	0.68%
Risk-free interest rate maximum	1.46%	1.64%	2.65%
Minimum
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Contractual term	5 years	5 years
Maximum
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Contractual term	10 years	10 years

Income Taxes - Geographic Sources of Income (Loss) From Continuing Operations (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
United States	$ (14,490)	$ (15,689)	$ (26,478)	$ (20,793)
Foreign	88	(158)	(67)	(21,233)
Loss before income taxes	$ (14,402)	$ (15,847)	$ (26,545)	$ (42,026)

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Income Taxes - Summary of Income Tax Benefit (Expense) (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Current:
State	$ 25	$ 21	$ 38	$ 4
Current income tax expense (benefit)	25	21	38	4
Deferred:
Total Income Tax Expense (Benefit)	$ 25	$ 21	$ 38	$ 4

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)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21.00%	21.00%	21.00%

Income Taxes - Summary of Provision For Income Taxes (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Tax expense (benefit) at U.S. statutory rate	$ (3,024)	$ (3,328)	$ (5,574)	$ (8,827)
State income taxes	25	21	36	4
Foreign rate differential	5	(10)	(5)	(1,389)
Share-based compensation	997	(216)	(27)	(3,794)
Permanent differences	29	230	233	669
Net change in valuation allowance	1,993	3,324	5,375	13,341
Total Income Tax Expense (Benefit)	$ 25	$ 21	$ 38	$ 4

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

+ References + Details

Income Taxes - Summary of Deferred Income Tax (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Deferred tax liabilities
ROU Asset	$ (404)	$ (389)	$ (471)	$ (608)
Intangible assets	(25)
Property, plant and equipment	(5)	(5)	(5)
Total deferred tax liabilities	(434)	(394)	(476)	(608)
Deferred tax assets
Property, plant and equipment				17
Accrued expenses	1,151	686	912	564
Intangible assets		262	278	255
Stock based compensation	2,739	3,215	2,991	2,996
Lease liability	428	415	501	634
Net operating loss carryforward	46,918	44,282	42,355	37,756
Other	483	609	332	285
Total deferred tax assets	51,719	49,469	47,369	42,507
Less valuation allowance	(51,285)	(49,075)	(46,893)	(41,899)
Net deferred tax assets	434	394	476	608
Net deferred tax assets / (liabilities)

Income Taxes - Additional Information (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Income Tax Disclosure [Line Items]
Deferred tax assets valuation allowance	$ 51,285,000	$ 49,075,000	$ 41,899,000	$ 46,893,000
Unrecognized income tax benefits	$ 0	$ 0	$ 0
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	$ 122,000,000.0
State and Local Jurisdiction
Income Tax Disclosure [Line Items]
Net operating loss carryforwards	79,700,000
Her Majesty's Revenue and Customs (HMRC)
Income Tax Disclosure [Line Items]
Net operating loss carryforwards	31,900,000
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	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net Loss	$ 14,427	$ 15,868	$ 26,583	$ 42,030
Weighted-average common shares—outstanding, basic	24,915,414	21,563,576	22,674,313	20,290,966
Weighted-average common shares—outstanding, diluted	24,915,414	21,563,576	22,674,313	20,290,966
Net loss per common share, basic	$ 0.58	$ 0.74	$ 1.17	$ 2.07
Net loss per common share, diluted	$ 0.58	$ 0.74	$ 1.17	$ 2.07

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1337-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1252-109256

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

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.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1337-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

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 ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan employers matching contribution percentage of employees pay	6.00%
Employers contribution to retirement plan	$ 966,000	$ 310,000	$ 733,000	$ 713,000
Deferred Compensation Plans
Defined Benefit Plan Disclosure [Line Items]
Employer matching contributions, Vesting period	2 years
Employer contributions to deferred compensation plan	$ 16,000
Deferred compensation plan liability	$ 262,000
Deferred Compensation Plans \| Vesting on Year One
Defined Benefit Plan Disclosure [Line Items]
Employer matching contributions, Vesting percentage	25.00%
Deferred Compensation Plans \| Vesting on Year Two
Defined Benefit Plan Disclosure [Line Items]
Employer matching contributions, Vesting percentage	75.00%
Deferred Compensation Plans \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan employers matching contribution percentage of employees pay	4.00%
Deferred Compensation Plans \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan employers matching contribution percentage of employees pay	6.00%

Retirement Plans - Summary of Fair Values of Company's Deferred Compensation Plan Assets and Liability (Detail) - Deferred Compensation Plans $ in Thousands	Dec. 31, 2021 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Corporate-owned life insurance policies	$ 304
Level 2
Defined Benefit Plan Disclosure [Line Items]
Corporate-owned life insurance policies	$ 304

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

6 Months Ended

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Jun. 30, 2021

Jun. 30, 2020

Revenues

$ 13,956

$ 10,163

$ 29,232

$ 14,263

Cost of sales

(1,905)

(1,750)

(5,949)

(2,973)

Gross profit

12,051

8,413

23,283

11,290

Operating Expenses:

^[1]

(8,472)

(6,865)

(14,660)

(15,706)

Product development expense

^[1]

10,996

11,703

22,400

33,025

^[1]

(7,586)

(6,735)

(14,818)

(9,164)

(27,054)

(25,303)

(51,878)

(57,895)

Avita Medical And Australian Wholly Owned Subsidaries Closed Group

(14,427)

$ (15,868)

$ (26,583)

$ (42,030)

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

Revenues

242

Cost of sales

(129)

Gross profit

113

Operating Expenses:

(107)

Product development expense

(12)

(38)