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PolyNovo
PolyNovo (PNV) investor relations material
PolyNovo H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary20 Feb, 2026
Executive summary
Group sales reached AUD 68.2 million for H1 FY2026, up 26% year-over-year, with strong momentum in the U.S. and Rest of World markets.
NovoSorb MTX group sales surged 195.2% year-over-year to AUD 6.2 million, with strong adoption in the U.S.
Leadership transition completed with a new CEO and key executive appointments, including a new Company Secretary and Chief Scientific Officer.
Expanded global footprint, now operating in over 46 countries and treating more than 106,000 patients worldwide.
Expansion of manufacturing capacity with a new facility in Port Melbourne, supporting a fivefold increase in output and flexibility for new products.
Financial highlights
U.S. sales were AUD 51.7 million, up 25.3% year-over-year, driven by new account acquisition and deeper penetration.
Rest of World sales rose 28.3% to AUD 16.5 million, with standout growth in Australia (+52%), Canada (+50.8%), Germany (+28.3%), Turkey (+91.3%), and India (+49.1%).
Adjusted EBITDA was AUD 4.7 million, up 82% year-over-year, after excluding one-off items such as the R&D lab fire and FX impacts.
Net profit after tax was AUD 0.0 million, compared to AUD 3.3 million in H1 FY25, mainly due to reduced manufacturing output and a one-off impairment from an R&D facility fire.
Cash on hand at period end was AUD 29.2 million, with a significant turnaround in operating cash flow to AUD 9 million.
Outlook and guidance
Expectation of improved profit and free cash flow in H2 as manufacturing normalizes and CapEx for the new facility is completed.
U.S. PMA submission for NovoSorb BTM on track for FY26, expected to unlock expanded access to U.S., Japan, and China markets.
Focus on further indication expansion, outpatient access, and geographic growth, especially in China and Japan.
No formal financial guidance provided; company cites ongoing rapid growth phase and market variability, especially in burns.
Planned U.S. launch of NovoSorb MTX (6mm) in late FY26.
PMA approval: What specific market access gains
Outpatient strategy: What specific procedures target
H1 gross margin impact from manufacturing pause
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Next PolyNovo earnings date
H2 202624 Aug, 2026
PolyNovo
Next PolyNovo earnings date
H2 202624 Aug, 2026
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Frequently asked questions
PolyNovo Limited is an Australian medical device company specializing in the development and manufacturing of advanced wound care solutions using its proprietary NovoSorb biodegradable polymer technology. The company's flagship product, NovoSorb Biodegradable Temporizing Matrix (BTM), is designed to support dermal regeneration in patients who have suffered tissue loss due to burns, trauma, or surgical procedures. NovoSorb BTM is utilized in various medical applications, including the treatment of complex wounds, chronic ulcers, and surgical wounds. Additionally, PolyNovo is expanding its product portfolio to include applications in hernia repair and other reconstructive surgeries. PolyNovo Limited is headquartered in Port Melbourne, Victoria, Australia, and its shares are listed on the Australian Securities Exchange.
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