The Monash IVF Group Ltd (ASX: MVF) share price is tumbling in early morning trade on Thursday. At the time of writing, the shares are down 6.88% The latest price movement follows the company's half-year results, which it posted ahead of the ASX open this morning.
This morning's decrease means the stock is now 14.4% lower for the year to date and down 45.13% over the year.
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What did Monash IVF report?
Here's what the specialist assisted reproductive services provider posted for the six months ending 31st December 2025:
- Revenue down 1.8% to $137.9 million
- Underlying EBITDA down 15.3% to $30.2 million
- Underlying EBIT down 27.5% to $17.5 million
- Underlying NPAT down 34% to $10.4 million
- Fully-franked dividend of 1.2 cents per share
What happened in the first half of FY26?
Monash IVF Group has announced a group revenue of $137.9 million for the first half of FY26, down 1.8% from the prior corresponding period (pcp). The company said the decrease was largely driven by industry softness and domestic IVF market-share loss, and occurred despite consistent IVF pricing across key states.
Revenue was also partly offset by price growth and an increase in international revenue.
The company's underlying EBITDA dropped 15.3% to $30.2 million, and its underlying EBIT declined 27.5% to $17.5 million. This was largely driven by a 2.5% decline in market share. Domestic and international EBITDA dragged on the results.
Monash IVF's underlying net profit of $10.4 million was down 34% for the first half of the financial year, aligning with previous guidance.
The board has declared a fully-franked interim dividend of 1.2 cents per share for investors.
What else did Monash IVF report?
The company confirmed that its recruitment process for a new Chief Financial Officer is still underway and progressing well. The board expects to provide a further market update once an appointment has been finalised. Malik Jainudeen will continue in his role as Chief Financial Officer during this transition period to ensure continuity and stability.
What's ahead for the company this year?
Looking ahead, Monash IVF anticipates underlying net profit of approximately $20 million for FY26.
Capital expenditure for the full year is anticipated to be $16 to $17 million, noting the completion of the new clinical infrastructure program during Q4 FY26.
Net debt at 30 June 2026 is expected to be approximately $95 million, and a net leverage ratio of 2.0x, which is well below banking covenant requirements of below 3.5x.
