PolyNovo (ASX:PNV) reported unaudited trading results for the first half of FY26, with group revenue rising 26% to $68.2 million, compared with $54.1 million in the same period last year.
US sales reached $51.7 million, up 25.3% year-on-year, while Rest of World revenue grew 28.3% to $16.5 million, driven by strong performances in Australia, Canada, Germany, Ireland, and Turkey.
NovoSorb MTX sales surged 195.2% to $6.2 million, reflecting accelerated adoption, while BARDA revenue fell 62.5% to $2 million, in line with expectations following the completion of the pivotal trial for full-thickness burns.
Total group revenue, including BARDA, rose 17.6% to $70.4 million.
Cash and liquidity strengthened during the period, with cash and cash equivalents of $29.3 million at Dec. 31, 2025 and positive operating cash flow of $9.5 million, compared with an outflow of $12.5 million in H1 FY25.