• Group sales of A$118.6m, up 28.9% on prior year
• U.S. sales of A$88.4m, up 28.7% on prior year
• Net Profit after Tax of A$13.2m, up 151.2% on prior year
• Cash and cash equivalents of A$33.5m

PolyNovo Limited has reported its audited trading results for FY25, which was another year of significant growth. Group sales were A$118.6m, up 28.9% on the prior year of A$92.0m, driven by strong growth in the U.S. market (up 28.7% to A$88.4m) and the Rest of World (up 29.6% to A$30.3m). The company recorded a Net Profit after Tax of A$13.2m, up 151.2% on the prior year of A$5.3m. During the period, PolyNovo achieved several key initiatives, including strong NovoSorb MTX sales following its successful U.S. launch in Q4 2024, first NovoSorb BTM sales and recurring orders in several new markets, and regulatory approvals for expanded product thicknesses in various regions. The company also completed the fitting out of its new R&D Innovation Centre, progressed construction of a new manufacturing facility, and strengthened its U.S. sales team. Looking ahead, PolyNovo expects to see continued sales growth in its direct markets, driven by the expanded product portfolio and indications, as well as further international expansion, particularly in Asia. The company is also progressing the clinical trial for its NovoSorb BTM product and development of new hernia repair and plastic/reconstructive mesh products.

PolyNovo expects to see continued sales growth in its direct markets, especially the U.S., Australia, New Zealand, Canada, and India, where multiple products have received relevant regulatory clearance. The company also expects a significant improvement in debtor days, which will contribute to increased cash from operations.

PolyNovo is focused on driving growth through the generation of non-clinical and clinical evidence to support new applications and indications for its NovoSorb BTM and MTX product portfolios. The company is also pursuing further international expansion, particularly in Asia, and is progressing the clinical trial for its NovoSorb BTM product and the development of new hernia repair and plastic/reconstructive mesh products.