AFT Pharmaceuticals Limited (AFT) H1 2026 earnings summary

Executive summary

• Achieved 10th consecutive first-half revenue increase, with revenue up 33% year-over-year to $114.9 million for the six months to 30 September 2025, led by strong growth in Australia and recovery in Asia and international markets.

• EBITDA improved to $6.6 million from a $0.7 million loss; operating profit reached $4.7 million, reversing a prior year loss.

• Continued investment in R&D and business development, with a focus on reaching $300 million turnover by FY27 and expanding global footprint to 85 countries.

• Multiple out-licensing agreements signed, including a major IV iron therapy deal in China, and active late-stage R&D pipeline.

• On track to deliver FY26 operating profit within $20–24 million range and confident in achieving $300 million annual revenue in FY27.

Financial highlights

• Operating revenue rose 33% to $114.9 million compared to 1H25, marking the 10th consecutive first-half revenue increase since listing.

• Gross profit increased to $49.7 million (43.2% margin), up from $36.2 million (41.7% margin) in 1H25.

• Operating profit was $4.7 million, up from a $1.8 million loss in 1H25; EBITDA reached $6.6 million, up from a $0.7 million loss.

• Net profit after tax improved to $2.7 million from a $2.5 million loss in 1H25.

• Operating expenses increased 18% due to investments in international expansion, brand launches, and higher R&D expenses.

Outlook and guidance

• Second half sales and earnings expected to exceed first half, driven by international launches, Australasian portfolio expansion, and scaling of business hubs.

• Reaffirms FY26 operating profit guidance of $20–24 million and pathway to $300 million annual revenue in FY27.

• Ongoing investment in R&D and international expansion expected to support long-term growth and resilience.

• Product and geographic diversification seen as key to resilience and growth.