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Side-by-side financial comparison of AVITA Medical, Inc. (RCEL) and Volato Group, Inc. (SOAR). Click either name above to swap in a different company.

Volato Group, Inc. is the larger business by last-quarter revenue ($24.9M vs $17.6M, roughly 1.4× AVITA Medical, Inc.). Volato Group, Inc. runs the higher net margin — 14.5% vs -66.0%, a 80.5% gap on every dollar of revenue. On growth, Volato Group, Inc. posted the faster year-over-year revenue change (13632.0% vs -4.3%).

Avita Medical is a clinical and commercial company developing and marketing a range regenerative medicine products. The first regenerative medicine product brought to the market by Avita Medical was ReCell spray-on skin for the treatment of burns. The two latest products are ReNovaCell, for Aesthetics and Plastic applications including skin trauma, and ReGenerCell for the treatment of chronic wounds. The Avita Medical regenerative product range is currently marketed in Europe, the Middle East...

Volato Aeronaves also known as Volato Aeronaves e Compósitos Ltda is a Brazilian aircraft manufacturer.

RCEL vs SOAR — Head-to-Head

Bigger by revenue
SOAR
SOAR
1.4× larger
SOAR
$24.9M
$17.6M
RCEL
Growing faster (revenue YoY)
SOAR
SOAR
+13636.3% gap
SOAR
13632.0%
-4.3%
RCEL
Higher net margin
SOAR
SOAR
80.5% more per $
SOAR
14.5%
-66.0%
RCEL

Income Statement — Q4 FY2025 vs Q2 FY2025

Metric
RCEL
RCEL
SOAR
SOAR
Revenue
$17.6M
$24.9M
Net Profit
$-11.6M
$3.6M
Gross Margin
81.2%
15.2%
Operating Margin
-59.1%
3.5%
Net Margin
-66.0%
14.5%
Revenue YoY
-4.3%
13632.0%
Net Profit YoY
-0.3%
121.3%
EPS (diluted)
$-0.37
$0.75

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
RCEL
RCEL
SOAR
SOAR
Q4 25
$17.6M
Q3 25
$17.1M
Q2 25
$18.4M
$24.9M
Q1 25
$18.5M
$25.5M
Q4 24
$18.4M
Q3 24
$19.5M
$38.5M
Q2 24
$15.2M
Q1 24
$11.1M
Net Profit
RCEL
RCEL
SOAR
SOAR
Q4 25
$-11.6M
Q3 25
$-13.2M
Q2 25
$-9.9M
$3.6M
Q1 25
$-13.9M
$455.0K
Q4 24
$-11.6M
Q3 24
$-16.2M
$-4.4M
Q2 24
$-15.4M
Q1 24
$-18.7M
Gross Margin
RCEL
RCEL
SOAR
SOAR
Q4 25
81.2%
Q3 25
81.3%
Q2 25
81.2%
15.2%
Q1 25
84.7%
17.6%
Q4 24
87.6%
Q3 24
83.7%
16.6%
Q2 24
86.1%
Q1 24
86.4%
Operating Margin
RCEL
RCEL
SOAR
SOAR
Q4 25
-59.1%
Q3 25
-53.6%
Q2 25
-60.5%
3.5%
Q1 25
-63.9%
9.9%
Q4 24
-54.1%
Q3 24
-70.6%
5.5%
Q2 24
-102.8%
Q1 24
-155.0%
Net Margin
RCEL
RCEL
SOAR
SOAR
Q4 25
-66.0%
Q3 25
-77.3%
Q2 25
-53.9%
14.5%
Q1 25
-74.9%
1.8%
Q4 24
-63.0%
Q3 24
-82.9%
-11.5%
Q2 24
-101.3%
Q1 24
-168.0%
EPS (diluted)
RCEL
RCEL
SOAR
SOAR
Q4 25
$-0.37
Q3 25
$-0.46
Q2 25
$-0.38
$0.75
Q1 25
$-0.53
$0.03
Q4 24
$-0.44
Q3 24
$-0.62
$-3.76
Q2 24
$-0.60
Q1 24
$-0.73

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
RCEL
RCEL
SOAR
SOAR
Cash + ST InvestmentsLiquidity on hand
$18.2M
Total DebtLower is stronger
Stockholders' EquityBook value
$-16.6M
$-7.1M
Total Assets
$56.4M
$13.0M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
RCEL
RCEL
SOAR
SOAR
Q4 25
$18.2M
Q3 25
$23.3M
Q2 25
$15.7M
Q1 25
$25.8M
Q4 24
$35.9M
Q3 24
$44.4M
Q2 24
$54.1M
Q1 24
$68.2M
Stockholders' Equity
RCEL
RCEL
SOAR
SOAR
Q4 25
$-16.6M
Q3 25
$-6.7M
Q2 25
$-12.9M
$-7.1M
Q1 25
$-4.6M
$-15.8M
Q4 24
$4.5M
Q3 24
$12.2M
$-19.6M
Q2 24
$23.9M
Q1 24
$32.6M
Total Assets
RCEL
RCEL
SOAR
SOAR
Q4 25
$56.4M
Q3 25
$63.7M
Q2 25
$58.1M
$13.0M
Q1 25
$69.6M
$23.4M
Q4 24
$79.7M
Q3 24
$81.1M
$47.9M
Q2 24
$87.8M
Q1 24
$97.4M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
RCEL
RCEL
SOAR
SOAR
Operating Cash FlowLast quarter
$-5.4M
$848.0K
Free Cash FlowOCF − Capex
$-6.1M
FCF MarginFCF / Revenue
-34.7%
Capex IntensityCapex / Revenue
3.8%
0.0%
Cash ConversionOCF / Net Profit
0.24×
TTM Free Cash FlowTrailing 4 quarters
$-33.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
RCEL
RCEL
SOAR
SOAR
Q4 25
$-5.4M
Q3 25
$-5.2M
Q2 25
$-10.2M
$848.0K
Q1 25
$-10.3M
$-312.0K
Q4 24
$-8.1M
Q3 24
$-7.2M
$-3.1M
Q2 24
$-12.8M
Q1 24
$-20.9M
Free Cash Flow
RCEL
RCEL
SOAR
SOAR
Q4 25
$-6.1M
Q3 25
$-6.2M
Q2 25
$-10.8M
Q1 25
$-10.5M
Q4 24
$-9.7M
Q3 24
$-11.0M
$-3.2M
Q2 24
$-15.4M
Q1 24
$-22.0M
FCF Margin
RCEL
RCEL
SOAR
SOAR
Q4 25
-34.7%
Q3 25
-36.1%
Q2 25
-58.4%
Q1 25
-56.9%
Q4 24
-52.7%
Q3 24
-56.1%
-8.2%
Q2 24
-101.6%
Q1 24
-198.2%
Capex Intensity
RCEL
RCEL
SOAR
SOAR
Q4 25
3.8%
Q3 25
5.5%
Q2 25
2.8%
0.0%
Q1 25
1.2%
0.0%
Q4 24
8.8%
Q3 24
19.2%
0.1%
Q2 24
17.5%
Q1 24
10.3%
Cash Conversion
RCEL
RCEL
SOAR
SOAR
Q4 25
Q3 25
Q2 25
0.24×
Q1 25
-0.69×
Q4 24
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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