Nanosonics delivered FY26 results that highlight the enduring strength of its trophon franchise while setting the stage for a significant inflection point with the planned commercialisation of its CORIS system in the first half of FY27. The core message from management is one of disciplined execution on the proven trophon business combined with confidence in a second major platform opportunity, a trajectory that investors will be monitoring closely over the coming year.
The financial performance reflects solid momentum in the company’s base business. Total trophon unit placements grew 9 percent year-on-year to 4,230 units, the strongest volume in three years, while the global cumulative installed base expanded 6 percent to 39,230 devices. North American upgrades surged 32 percent, signalling strong customer adoption of the refreshed trophon3 and trophon2 Plus product lines that launched during the year. Revenue increased 3 percent to $203.9 million on a reported basis, though the Australian dollar’s strength masked the underlying operational performance, with revenue rising 6 percent to $211.5 million when adjusted for foreign exchange movements. The standout metric is trophon-only EBIT, which grew 5 percent to $50.6 million, or 16 percent at constant currency to $56.5 million, demonstrating the quality and operating leverage of the core business.
On a reported basis, consolidated EBIT declined 10 percent to $16.0 million, a decline attributable to increased investment in the CORIS system. Adjusting for currency headwinds, however, EBIT grew 21 percent at constant currency, underscoring that the underlying operational momentum is stronger than headline figures suggest. The company enters FY27 in a position of financial strength, with cash and equivalents of $155.2 million and no debt. Management has returned $20 million to shareholders via buyback in FY26 and committed to a further $40 million buyback program in FY27, signalling confidence in both the balance sheet and the long-term growth outlook.
The critical inflection point lies with CORIS, Nanosonics’ second platform targeting the endoscope reprocessing market. The controlled market release is progressing well with positive customer feedback, and commercial launches are planned for the UK, Ireland and Australia in the first half of FY27, with the US market to follow. Success or otherwise in CORIS adoption will shape the investment case materially over the next 18 months. Investors should monitor placement volumes, pricing trends in the trophon base, and CORIS uptake metrics as the company progresses through this transition period. This announcement is flagged as price sensitive and has been identified as material by the ASX.
View the full ASX announcement (PDF)
About Nanosonics Ltd (ASX: NAN)
Nanosonics Ltd is an Australian healthcare company that manufactures and distributes ultrasound probe disinfectors and related infection prevention technologies. The company’s flagship product, Trophon, is designed to reduce healthcare-acquired infections through high-level disinfection of ultrasound probes. Nanosonics operates across Australia, the United States, Canada, the United Kingdom, and Europe, serving the healthcare sector globally.
If you would like to discuss this announcement or how it might affect your portfolio, request a callback or call us on 1300 889 603.
