• Cash and cash equivalents up to A$33.5m from A$22.0m
• Cash flow from operations of A$15.7m for 2H25 vs (A$12.5m) in 1H25
• FY25 EBITDA expected to be A$11.2m to A$12.4m vs A$3.6m STLY

PolyNovo Limited has provided indicative trading results for FY25, highlighting a significant uplift in cash and cash flow from operations. As of 30 June 2025, the company's cash and cash equivalents stood at A$33.5m, up from A$22.0m as of 31 March 2025, after capital expenditure and debt repayment. Cash flow from operations for 2H25 was A$15.7m, compared to an outflow of (A$12.5m) in 1H25. The company expects cash flow from operations to increase further in FY26 as profit momentum continues in key markets. PolyNovo anticipates FY25 EBITDA to be in the range of A$11.2m to A$12.4m, compared to A$3.6m in the prior year. The company has also outlined strong growth in sales, with FY25 group sales of A$118.6m, up 28.9% on the prior year. This includes a 28.7% increase in U.S. sales to A$88.4m and a 29.6% increase in Rest of World sales to A$30.3m. The company is confident in ongoing revenue growth, citing a 58% increase in U.S. sales orders and a 43% increase in units sold compared to the prior year. The company is also making progress with its NovoSorb MTX and BTM product lines, with the latter receiving 510(k) clearance for up to 6 mm thickness in June 2025. Additionally, PolyNovo is supplying NovoSorb BTM to Beta Cell Technologies for clinical trials following positive results from the First in Man proof of concept study.

FY25 EBITDA expected to be in the range of A$11.2m to A$12.4m, compared to A$3.6m in the prior year.

The company is confident in ongoing revenue growth from the U.S. and Rest of World markets, citing strong sales order and unit growth. The company is also focused on delivering new applications of its platform technology to ensure diversification and growth acceleration.