Nanosonics (NAN) H2 2026 earnings summary

Executive summary

• FY 2026 delivered constant currency revenue growth of 6% to $211.5M and EBIT up 21% to $21.6M, reflecting disciplined cost control and continued investment in growth initiatives.

• The trophon business achieved its strongest placement performance in three years, with total placements up 9% to 4,230 units and a global installed base exceeding 39,000 devices.

• Successful launches of trophon3 and trophon2 Plus drove adoption, especially in North America, which saw record upgrades up 32%.

• CORIS advanced with key regulatory approvals in the UK, Europe, Australia, and initial FDA 510(k) clearance, with commercial launch set for H1 FY27.

• Strong cash position of $155.2M, no debt, and a $20M share buyback completed, with a further $40M buyback announced for FY27.

Financial highlights

• Reported revenue was $203.9M, up 3% year-over-year; at constant currency, revenue was $211.5M, up 6%.

• Gross profit margin was 76.9%, down 1.3 points due to product mix and currency impacts; at constant currency, margin was 77.6%.

• Operating expenses increased 2% to $141.4M (4% at constant currency), reflecting disciplined cost management and CORIS investment.

• EBIT was $16.0M, down 10% year-over-year, but up 21% to $21.6M at constant currency.

• Trophon-only business EBIT was $50.6M reported, or $56.5M at constant currency, up 16%.

Outlook and guidance

• FY27 revenue expected between $220M and $228M at constant currency, representing 8–12% growth.

• Gross profit margin forecasted at 74–76%, reflecting higher tariffs and freight costs.

• Operating expenses projected at $156–$163M, with most of the increase attributed to CORIS launch investments.

• CORIS expected to contribute initial revenues in the low single-digit millions in FY27.

• Planned step-up in CORIS investment to accelerate commercialisation and market adoption.