• Record 1H FY25 sales of A$54.1m, up 28.1% on STLY
• Total revenue including BARDA of A$59.9m, up 22.8% on STLY
• Record sales in the U.S. of A$41.2m, up 27.9% on STLY

PolyNovo Limited has released its half-year audited results for 1H FY25, which show record sales and profit. The company recorded 1H FY25 sales of A$54.1m, up 28.1% on the prior year, and total revenue including BARDA of A$59.9m, up 22.8%. Sales in the U.S. reached a record A$41.2m, up 27.9%, while Rest of World sales grew 28.6% to A$12.9m. The Group recorded a net profit after tax of A$3.3m, up 23.9% on the prior year. During the period, PolyNovo achieved several key milestones, including strong growth in NovoSorb MTX sales following its successful U.S. launch, progress on the product pipeline for NovoSorb BTM and MTX, and prototypes for hernia repair and plastic/reconstructive mesh products entering pre-clinical stage. The company also met the pivotal trial enrolment target of 120 patients for the full thickness burns indication in the U.S., supported by BARDA, and commenced works on a new manufacturing facility and innovation centre in Port Melbourne. PolyNovo continues to invest in sales, marketing and R&D to drive further revenue growth and new product development.

The company expects revenue growth to continue following the investment in sales, marketing and R&D. No other high-importance, price-sensitive forward-looking financial metrics were provided.

PolyNovo is focused on growing revenue from existing customer accounts, new account acquisition, indication expansion, new markets and new products such as the successful U.S. launch of NovoSorb MTX. The company is also progressing the product pipeline for NovoSorb BTM and MTX, and developing targeted solutions for hernia repair and plastic/reconstructive surgery.