Nanosonics (NAN) investor relations material

Executive summary

• Achieved 17% revenue growth to $198.6M in FY 2025, with profit before tax up 72% to $22.3M, driven by recurring revenue and installed base expansion.

• Recurring revenue from consumables and service grew 20% to $146.1M, now representing 73% of total revenue, supported by a 6% increase in installed base to 37,000 units.

• Installed base reached 37,000 devices, protecting approximately 28 million patients annually.

• Significant milestones included FDA De Novo clearance for Corus, launches of Trophon 3 and Trophon 2 Plus, and expanded digital infrastructure.

• Sustainability initiatives led to a 56% reduction in Scope 2 emissions and 17% reduction in Scope 1 emissions.

Financial highlights

• Gross profit margin improved to 78.2%, with operating expenses up 10% but decreasing as a percentage of revenue.

• EBIT grew 95% to $17.8M; profit before tax up 72% to $22.3M; net finance income increased 16%.

• Cash and cash equivalents at $161.6M, supporting future strategic investments.

• Operating expenses increased to $138.7M, with investments in core markets, infrastructure, and R&D.

Outlook and guidance

• FY 2026 revenue expected between $215M and $223M, representing 8–12% growth, with gross margin forecasted at 75–77% due to $4M tariff impact.

• Operating expenses projected to grow 6–9%, below revenue growth.

• Minimal Corus revenue expected in FY 2026; main growth from Trophon.

• Continued investment in Corus commercialisation and new headquarters.