Nanosonics (NAN) AGM 2026 summary

Opening remarks and agenda

• The 20th AGM opened with a quorum; 293 valid proxies represented more than 190 million shares, just over 64% of shares on issue.

• Chairman Steven Sargent and CEO Michael Kavanagh delivered their addresses; proceedings included eight resolutions, questions and votes, followed by stakeholder questions.

• Annual reports for the year ended 30 June 2026 were received for consideration without a formal vote.

Financial performance review

• FY26 reported revenue was $203.9m, up 3%; constant-currency revenue was $211.5m, up 6%. Constant-currency EBIT rose 21% to $21.6m; gross margin was 76.9%, or 77.6% at constant currency.

• Trophon placements were 4,230, up 9%, and the installed base grew 6% to 39,230 devices; trophon-only EBIT was $50.6m, up 5%, or $56.5m at constant currency, up 16%.

• Cash was $155.2m with no debt; R&D investment was $31.8m and operating expenses were $141.4m, up 2%. Management cited disciplined costs, cash generation and capacity to invest in R&D and CORIS.

• More than 31 million patients were protected in FY26; milestones included trophon3 and trophon2 Plus launches and an AUD 20m buyback.

Board and executive committee updates

• Sarah Butler joined as an independent non-executive director in January 2026 and was nominated for election with Board support.

• Julien Sauvagnargues was announced as an independent non-executive director, joining on 1 December 2026; he brings two decades at Olympus and MedTech leadership experience across Europe and North America.

• Dr. Lisa McIntyre left the Board in November 2025; shareholders were also asked to re-elect Larry Marshall and Tracey Batten.