Mayne Pharma Group (MYX) H2 2025 earnings summary

Executive summary

• FY25 revenue increased 5% year-over-year to $408.1 million, driven by strong Women's Health performance and improved product mix in Dermatology.

• Gross margin expanded to 60.6% from 56.3% in FY24, reflecting favorable product mix and margin improvements in both Women's Health and Dermatology.

• Underlying EBITDA surged 105% to $47.0 million, while operating cash flow from continuing operations rose 460% to $45.4 million.

• Cash and marketable securities at year-end were $100.4 million, after significant outflows for acquisitions, earnout payments, and a class action settlement.

• The scheme of arrangement with Cosette Pharmaceuticals, offering $7.40 per share, received strong shareholder support and is pending court approval.

Financial highlights

• Revenue increased 5% to $408.1 million, led by volume growth in Women's Health products and improved product mix.

• Gross margin improved to 60.6%, with Women's Health segment margins above 80% and Dermatology at 53.8%.

• Underlying EBITDA rose 105% to $47 million, supported by margin expansion and cost control.

• Total direct segment contribution increased 24% to $109.7 million.

• Operating cash flow from continuing operations was $45.4 million, up from $8.1 million in FY24.

Outlook and guidance

• Women's Health will focus on sales execution, refreshed marketing, and scientific engagement to unlock profit potential.

• Dermatology aims to leverage channel strategy, new product launches, and capital-efficient business arrangements for revenue and margin growth.

• International segment expects improved profitability from recent capital investments and expanded export revenues.

• Australian operations to continue growth in generics through a strengthened salesforce and differentiated portfolio.