• Revenue up 8% to $21.6 million
• Underlying EBIT loss of $0.3 million
• Net loss after tax of $0.2 million

Medical Developments International Ltd (MVP.ASX) reported its FY26 half-year results, with revenue increasing 8% to $21.6 million. The Pain Management segment saw revenue rise 18%, driven by volume growth, while Respiratory revenue declined 10% due to softer demand in the US. Underlying EBITDA was $1.0 million, down from $1.8 million in the prior corresponding period, and underlying EBIT was a $0.3 million loss, compared to a $0.2 million profit previously. Net loss after tax was $0.2 million, down from a $0.3 million profit. The company saw encouraging progress in its strategy to grow Penthrox in Australian hospital emergency departments, with demand in the hospital segment up 26%. Penthrox sales also continued to grow in Europe, with in-market volumes up 10%. The company expects seasonally softer demand conditions in the Respiratory segment to result in lower earnings in the second half of FY26 compared to the first half.

In FY26, the Group expects to finalise approvals for the paediatric indication in Europe and support the new label launch. The company will also continue to execute targeted medical and commercial initiatives to expand formulary access, support protocol inclusion, and strengthen clinical engagement across the hospital segment.