• Q1 FY26 Group sales up 33.3% to A$34.7m
• U.S. sales up 33.4% to A$27.4m
• NovoSorb MTX sales up 174.8% to A$2.9m
• Q1 FY26 EBITDA positive, cash on hand A$23.2m

PolyNovo Limited is pleased to provide unaudited trading results for Q1 FY26. Group sales for the quarter were A$34.7m, up 33.3% on the same period last year (STLY) of A$26.0m. U.S. sales were A$27.4m, up 33.4% on STLY of A$20.5m, while Rest of World sales were A$7.3m, up 33.1% on STLY of A$5.5m. The company's NovoSorb MTX product recorded sales of A$2.9m, up 174.8% on STLY of A$1.1m. PolyNovo also reported strong collections from U.S. customers, with days sales outstanding (DSO) averaging 61 in Q1 FY26, down from 95 DSO in March 2025. The new R&D Innovation Centre is now complete and operational, and capital expenditure on the new manufacturing facility is also finished, with around A$2.5m required to make it operational. Q1 FY26 was EBITDA positive, and the company had A$23.2m in cash on hand as of 30 September 2025. Chairman David Williams highlighted the continued growth in sales, hospitals supplied, patients treated, countries supplied, and surgeon engagement. He also expressed excitement about the potential to move into the U.S. outpatient market, the strong growth of NovoSorb MTX, and the ramp-up in sales in countries like Turkey, Germany, and Canada.

The company is bullish on the prospects for NovoSorb MTX in the U.S. and globally, and is also excited about the potential to move into the U.S. outpatient market and support plastic surgeons, podiatrists, and home care. The team at Beta Cell is also pushing ahead with their interest in diabetes and trialing the delivery of other cells using NovoSorb BTM.