Saluda Medical (SLD) Q2 2026 earnings summary

Executive summary

• Achieved strong global and US commercial momentum in Q2 and H1 FY26, with significant revenue and patient growth driven by increased sales force and physician engagement.

• Listed on ASX in December 2025 after a successful IPO raising approximately US$150 million.

• Regulatory approval obtained for EVA™ Sensing Technology in Europe and Australia, with commercial launches planned.

• Strong presence at the January 2026 NANS annual meeting with 19 clinical abstracts and 5 oral presentations.

• Phased reduction of approximately 50 non-commercial positions to decrease future operating expenses.

Financial highlights

• Q2 FY26 global revenue reached US$21.0 million, up 20% year-over-year and 15% sequentially from Q1 FY26.

• H1 FY26 global revenue totaled US$39.4 million, a 17% increase compared to the prior corresponding period.

• US revenue for Q2 FY26 was US$15.4 million (+17% YoY); international revenue was US$5.6 million (+29% YoY).

• Number of US patients implanted in Q2 FY26 increased 21% year-over-year to 670.

• Cash on hand at end of Q2 FY26 was US$151.4 million, up from US$54.5 million at end of Q4 FY25.

Outlook and guidance

• FY26 revenue guidance raised to US$85 million, representing 21% year-over-year growth.

• H2 FY26 revenues expected to exceed H1, primarily driven by increased US sales force.

• H2 FY26 revenue forecast expects 24% growth vs prior corresponding period.