Strong Start to FY25 with Profit and Revenue Growth
Nanosonics Limited (ASX:NAN), a global leader in infection prevention solutions, has released its preliminary unaudited results for H1 FY25, showcasing significant growth across key financial metrics.
Key Highlights (Preliminary Results)
- Profit Before Tax (PBT):
- Expected to reach $10.9 million, up 122% compared to H1 FY24 ($4.9 million) and up 35% from H2 FY24 ($8.1 million).
- Includes a $1.3 million unrealized FX gain driven by AUD/USD exchange rate movements, partially offset by hedging activities.
- Revenue:
- Anticipated at $93.6 million, up 18% from H1 FY24 ($79.6 million) and 4% from H2 FY24 ($90.4 million).
- Growth primarily driven by a 20% increase in consumables and service annuity revenues. Capital revenue grew 11%, with trophon unit sales in line with forecasts.
- Gross Margin:
- Expected at 78.5%, a slight dip compared to H1 FY24 (79.7%) but improved from H2 FY24 (76.3%).
- Operating Expenses:
- Estimated at $66.7 million, reflecting a 10% increase from H1 FY24 and a 3% rise from H2 FY24, in line with business expansion.
CEO Commentary
Michael Kavanagh, CEO and President of Nanosonics, expressed optimism about the company’s performance:
“The strong H1 revenue growth of $93.6 million reflects a positive start to FY25, with notable momentum in consumables and service annuity revenues. This, coupled with disciplined cost management, positions us well for continued success.”
Financial Summary (Preliminary, Unaudited)
| Metric | H1 FY25 | H1 FY24 | Change (%) | H2 FY24 | Change (%) |
|---|---|---|---|---|---|
| Total Revenue ($m) | 93.6 | 79.6 | 18% | 90.4 | 4% |
| Gross Profit ($m) | 73.4 | 63.4 | 16% | 69.0 | 6% |
| Gross Margin (%) | 78.5% | 79.7% | -1.2 pts | 76.3% | +2.2 pts |
| Operating Expenses ($m) | -66.7 | -60.8 | 10% | -64.8 | 3% |
| PBT ($m) | 10.9 | 4.9 | 122% | 8.1 | 35% |
FY25 Outlook
Based on the current trajectory and exchange rate assumptions (AUD/USD at 0.67), Nanosonics expects to achieve FY25 results at the top end of its guidance range for revenue, gross margin, and operating expenses.
Full H1 FY25 results will be announced on 20 February 2025.
