• Revenue up 18% to $39.1 million
• Net profit after tax of $0.1 million
• Underlying EBIT improved by $11.6 million to almost breakeven

Medical Developments International Ltd reported an 18% increase in revenue to $39.1 million for the full year ended 30 June 2025. Revenue in the Pain Management segment was up 23%, driven by improved pricing, particularly in Australia, the UK and Ireland, and higher volumes. Revenue in the Respiratory segment was up 9% with volume growth in the US, supported by market share gains, and improved demand in Australia, offset partly by lower demand from other markets. Net profit after tax was $0.1 million, compared to a loss of $41.0 million in the prior year. Underlying EBIT was a $48,000 loss, improved by $11.6 million on the prior year, benefiting from strongly improved margins and lower costs, driven by improved pricing and efficiency gains, stronger Penthrox demand in Australia and Europe, and stronger volume in the Respiratory segment. The company continued to make progress on its strategic priorities, including increasing penetration of Penthrox in existing markets and growing its Respiratory segment, particularly in the US.

In FY26, the Group will increase investment in growth initiatives to accelerate volume growth for Penthrox and continue momentum in the Respiratory segment. This investment is expected to result in softer Underlying EBIT in FY26 versus the prior year, but is expected to deliver stronger financial performance over the long-term.

The Group will continue to drive momentum in demand for its products, with key priorities including accelerating penetration of Penthrox, driving continued growth in Respiratory, and enhancing margins and delivering operational efficiencies.