Polynovo revenue hits $150M in FY26
- PolyNovo reported total revenue of $150 million for FY26, representing a 16.1% increase compared to FY25.
- Net profit after tax dropped 44.4% to $7.3 million, while operating cash flow rose to $23.1 million.
- The medical technology business completed its new manufacturing facility and advanced United States market expansion plans.
PolyNovo (ASX:PNV) generated total revenue of $150 million for the year ended June 30, marking a 16.1% increase from the prior period.
The revenue growth was driven by a 16.7% rise in commercial sales to $138.4 million, though net profit after tax declined to $7.3 million.
EBITDA increased 8.1% to $12.1 million from $11.2 million in the prior period. Underlying EBITDA was $13.4 million, up 50.4% on the prior period of $8.9 million.
Research and development expenses fell 36.9% to $5.3 million, while the company completed construction of a new manufacturing facility to support future capacity.
"During FY26, we sharpened our strategic focus and aligned the business around three clear priorities: accelerating growth in our core wound care franchise, building the next growth engine for PolyNovo, and establishing the global operating structure required to scale efficiently and consistently," said Bruce Peatey, CEO of PolyNovo.
PolyNovo stated that validation activities at its new facility are progressing ahead of a planned transition in FY27.
Following the announcement, the PolyNovo share price was unchanged at $1.06.
The medical technology firm focuses on developing synthetic tissue repair products, including its proprietary NovoSorb technology platform.
PolyNovo expanded its global sales footprint over recent periods while securing regulatory milestones to expand clinical applications beyond burns.
