• Sales revenue up 1% (down 2% in constant currency) to $1,176 million
• Underlying net profit down 9% to $195 million
• Interim dividend of $2.15 per share, in line with prior year

Cochlear Limited reported its H1 FY26 financial results, with sales revenue up 1% (down 2% in constant currency) to $1,176 million. Underlying net profit decreased 9% to $194.8 million, with the underlying net profit margin at 17%. The company declared an interim dividend of $2.15 per share, in line with the prior year and representing a payout of 72% of underlying net profit. Key highlights for the half include:- Cochlear implant revenue was in line with H1 FY25 (down 2% in constant currency) at $724 million, with cochlear implant units increasing 6% to 27,016. The focus has been on transitioning customers to the new Nucleus Nexa System, which received a positive reception from professionals and recipients.- Services revenue increased 2% (down 1% in constant currency) to $311.6 million, driven by growth in developed markets.- Acoustics revenue was flat (down 3% in constant currency) at $140.4 million.- Operating expenses increased 1% (down 2% in constant currency), reflecting growing investment in R&D and activities to support long-term sustainable growth.- One-off and non-recurring items after tax include $24 million in cloud computing-related expense and a $9 million non-cash write-down in the value of Cochlear's investment in Saluda.For FY26, the company expects to help over 60,000 people hear with a cochlear or acoustic implant. Underlying net profit is expected to be at the lower end of the $435-460 million guidance range provided in August 2025, reflecting the longer than anticipated contracting process for the Nexa Implant System in the first half.

For FY26, Cochlear expects to help over 60,000 people hear with a cochlear or acoustic implant. Underlying net profit is expected to be at the lower end of the $435-460 million guidance range provided in August 2025.

Cochlear remains confident of the opportunity to grow its markets, with a significant, unmet and addressable clinical need for cochlear and acoustic implants expected to continue to underpin the long-term sustainable growth of the business. The company is well placed to create value for its stakeholders now and over the long term.