• Total revenue of $93.6 million, up 18% on prior corresponding period
• Capital revenue up 11% and consumables/service revenue up 20%
• Installed base increased by 1,050 units to 35,840
• Operating profit before tax of $10.9 million, up 124% on prior corresponding period

Nanosonics Limited, a leader in infection prevention solutions, announced its Appendix 4D Half Year Report for the half year ended 31 December 2024. The company reported total revenue of $93.6 million, an increase of 18% compared to the prior corresponding period. This growth was driven by an 11% increase in capital revenue and a 20% increase in consumables and service revenue. The company's installed base increased by 1,050 units to 35,840, with 940 new installed base units and 610 upgrade units placed in the half. Operating profit before income tax was $10.9 million, up 124% compared to the prior corresponding period. This includes foreign exchange related gains of approximately $1.3 million. The trophon only business continued to generate strong profitability, with profit before tax of $25.6 million, a 41% increase over the prior corresponding period. The company invested in expanding its existing Indianapolis facility to establish a manufacturing site for both trophon and CORIS consumables, which is expected to be completed and registered in the second half. The company also continued to invest in research and development, with approximately two-thirds of the $16.4 million investment focused on the company's new endoscope reprocessing platform, CORIS. The CORIS technology continues to proceed through the FDA's de novo review process, with the company targeting the commencement of the first stage of commercialization in Q1 FY26, subject to the requisite regulatory approvals.

The company updates its FY25 outlook ranges as follows: - Revenue growth: 11%-14% (previously 8%-12%) - Gross margin rate: 78%-79% (previously 77%-79%) - Operating expenses growth: 8%-10% (previously 6%-10%) The above revised outlook assumes an average exchange rate of 0.64 for H2 FY25, which translates to revenue growth of 13-16%, gross margin rate of 78-80%, and operating expenses growth of 9-11%.

The company continues to progress its new endoscope reprocessing platform, CORIS, through the FDA's de novo review process, with the target for first commercial launch remaining Q1 FY26. Outside of the US, the first commercial launch of CORIS will likely take place in Europe in Q1 FY26, which is not contingent on the FDA de novo clearance.