• Strong quarterly operating performance with operating cashflow of $1.7 million
• Continued growth for Penthrox in Australian hospital segment
• New Penthrox distribution agreement signed with French partner

Medical Developments International Limited (ASX: MVP) released its Appendix 4C and Quarterly Activity Report for the quarter ended 31 March 2025 (Q3 FY25). The company reported a strong quarterly operating performance, with operating cashflow of $1.7 million. Group revenue for Q3 FY25 was $8.9 million, up $0.3 million on the prior corresponding period (pcp). YTD revenue of $28.9 million was $5.2 million higher than the pcp. Pain Management revenue was $5.7 million for the quarter, down $0.2 million on the pcp, while Respiratory revenue was $3.2 million for the quarter, up by $0.5 million on the pcp. The company continued to see growth for its Penthrox product in the Australian hospital segment, and signed a new Penthrox distribution agreement with French partner Ethypharm. The company also provided an update on its FY25 strategic priorities, including improving margins through pricing and efficiency initiatives, accelerating Penthrox penetration in Australia, and growing Penthrox in Europe.

The Group expects underlying EBIT for the full year FY25 to be strongly improved on FY24, driven mainly by benefits of $8 million from higher average Penthrox prices and operational efficiencies.

Phasing and movements in foreign exchange rates are expected to result in earnings that are lower in the second half of FY25 compared to the first half. Notwithstanding, the Group remains on track to generate positive operating cashflow for the second half of FY25.