The PolyNovo Ltd (ASX: PNV) share price is in focus after the company reported full-year revenue growth of 16.1% to $150 million and a positive net profit after tax of $7.3 million, marking another year of operational and financial progress.
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What did PolyNovo report?
- Total revenue rose 16.1% to $150.0 million
- Commercial sales climbed 16.7% to $138.4 million (21.3% in constant currency)
- EBITDA increased 8.1% to $12.1 million; underlying EBITDA was up 50.4% to $13.4 million
- Positive NPAT of $7.3 million, impacted by one-off items
- Operating cash flow was $23.1 million and free cash flow reached $9.4 million
- Gross margin was 89.0%, down from 95.6% due to inventory changes
What else do investors need to know?
PolyNovo completed construction of its new manufacturing facility, with validation progressing ahead of the planned transition in FY27. Manufacturing output increased significantly in the second half, supporting greater efficiency and future growth capacity.
The company continued to expand clinical evidence for its NovoSorb® platform beyond burns, with key government-backed clinical trial milestones achieved. PolyNovo also advanced regulatory efforts, with PMA submission activities underway to unlock future reimbursement and market opportunities in the US.
What did PolyNovo management say?
Bruce Peatey, Chief Executive Officer of PolyNovo, said:
FY26 was a year of capability building and strategic alignment. We delivered strong commercial growth, expanded our manufacturing capacity, strengthened our balance sheet and continued to invest in the evidence, products and capabilities that will drive PolyNovo's next phase of growth. During FY26, we sharpened our strategic focus and aligned the business around three clear priorities: accelerating growth in our core wound care franchise, building the next growth engine for PolyNovo, and establishing the global operating structure required to scale efficiently and consistently. Importantly, we achieved this while generating strong cash flow, strengthening our balance sheet, and continuing to invest in the future of the NovoSorb platform.
What's next for PolyNovo?
Looking ahead, PolyNovo is focused on execution as it prepares for the next phase of growth. The company expects to ramp up production in its new facility and deliver further commercial expansion of NovoSorb® MTX into new indications and geographies.
Regulatory submissions, especially the planned PMA in the US, are set to play a key role in broadening reimbursement and adoption. A new dedicated business development function will seek out partnerships and licensing opportunities to extend the NovoSorb® platform, aiming to drive sustained growth.
PolyNovo share price snapshot
Over the past 12 months, PolyNovo shares have declined 16%, trailing the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.
