David O'Toole
CFO at AVITA Medical
We expect to achieve the same or greater savings in each of the upcoming quarters, translating into an annual savings of 10,000,000 The $26,100,000 in operating expenses for the second quarter include non cash expenses of approximately $2,700,000 in stock based compensation and approximately $800,000 in depreciation and amortization. Other income expense increased by $900,000 to $2,500,000 of income for the quarter, consisting of non cash gains totaling $1,200,000 related to changes in the fair value of warrants and $900,000 related to changes in the fair value of the debt, along with $400,000 in investment income. The second quarter's net loss was $9,900,000 or $0.38 per basic and diluted share, showing a 36% improvement from the net loss of 15,400,000.0 or $0.60 per basic and diluted share in the same period of 2024. As of June 30, our cash and marketable securities totaled $15,700,000 compared to $35,900,000 at 12/31/2024. Although the accounts receivable balance of approximately $11,300,000 as of June 30 will help our anticipated working capital needs in the third quarter, We still intend to raise additional capital to strengthen our balance sheet and support our working capital needs.