• Revenue up 22.8%, product sales up 28.1%, order volume up 58.0%
• EBITDA of A$7.2m, NPAT of A$3.3m
• Continued investment in sales growth, R&D, and manufacturing capacity

PolyNovo Ltd, a leading medical device company, has reported its 1H FY25 results, showcasing robust financial and operational performance. The company's revenue grew by 22.8% to A$59.9m, driven by a 28.1% increase in product sales. Order volume also saw a significant jump of 58.0%, reflecting the growing demand for PolyNovo's innovative products. The company's EBITDA reached A$7.2m, up from A$1.9m in the previous corresponding period, while net profit after tax (NPAT) increased to A$3.3m, compared to A$2.7m in 1H FY24. PolyNovo continued to invest in key strategic initiatives, including expanding its sales presence in direct markets such as the U.S., U.K., Australia, New Zealand, and Europe, as well as driving market development in India. The company also made investments in clinical and health economic evidence to support indication expansion, R&D, and manufacturing capacity to accommodate its growing product portfolio. As of 31 December 2024, PolyNovo had A$30.5m in cash and cash equivalents, providing a strong financial position to fund its growth initiatives. The company also announced plans for a new manufacturing facility and an Innovation Centre in Port Melbourne, demonstrating its commitment to driving long-term sustainable growth.

PolyNovo expects to continue its strong growth trajectory, with the company anticipating further revenue and profit expansion in the coming financial year. The company has provided guidance for the full FY25 period, with revenue expected to grow by 20-25% and EBITDA to increase by 30-35% compared to the previous financial year.

PolyNovo is well-positioned to capitalize on the growing demand for its innovative products and solutions. The company's focus on expanding its sales presence, driving clinical and health economic evidence, and investing in R&D and manufacturing capacity is expected to support its continued growth and market leadership. PolyNovo remains committed to its vision of becoming the global standard of care in its target markets.