Full Year 2026 NANOSONICS LIMITED Earnings Call Transcript
Key Points
- Nanosonics Ltd (NNCSF) delivered solid FY26 results with constant currency revenue up 6% and EBIT up 21%, demonstrating strong operational performance.
- The trophon-only business achieved its strongest placement performance in three years, with over 4,200 units placed and a record upgrade activity in North America, expanding the installed base to over 39,000 devices.
- The successful launch of next-generation technologies, trophon3 and trophon2 Plus, is driving improved average selling prices and adoption, particularly in the second half of the year.
- CORIS is on track with key regulatory approvals achieved, including FDA 510(k) clearance, and the commercial launch is planned for the first half of FY27, positioning the company for a second growth platform.
- The company maintains a strong financial position with a debt-free balance sheet, $155.2 million in cash, and a new $40 million share buyback, reflecting confidence in future growth and disciplined capital allocation.
- Reported revenue growth was only 3% due to unfavorable currency movements, with constant currency growth of 6% masking the impact of a stronger Australian dollar.
- Gross profit margin moderated by 1.3 points to 76.9%, impacted by product mix from record capital placements and currency headwinds.
- Q3 FY26 experienced softness in consumables due to severe weather events in the Northeast US, which temporarily reduced hospital traffic and shipments, impacting overall revenue.
- EMEA and APAC regions showed softer performance, with EMEA capital revenue moderating due to a shift to managed equipment service models and APAC revenue declining 14% due to placement mix in Japan.
- FY27 guidance includes higher tariffs (12.5%) and increased freight costs, which are expected to pressure gross profit margins down to 74%-76%.
Hello, and welcome, everyone, to the Nanosonics FY26 full-year results investor briefing. My name is Catherine Strong, and I'm Head of Investor Relations at Nanosonics.
Today's presentation will be led by Michael Kavanagh, Chief Executive Officer and President; and Jason Burriss, Chief Financial Officer. Management will speak to a selection of slides that were lodged earlier this morning with the ASX. (Event Instructions)
I would now like to hand the call over to Michael Kavanagh. Please go ahead, Michael.
Thank you very much, Catherine, and good morning, everybody, and thank you all for joining us today. By now, many of you will have seen the FY26 results, and there's a lot of information contained in the materials that were lodged this morning.
But before we get into some of that detail, there are a number of key takeaway messages I would like to
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