Cochlear Ltd FY26 Results: Strong Performance at Upper End of Guidance
Key points
- FY26 sales revenue at $2.3 billion, 2% increase in constant currency
- Underlying net profit of $322 million, achieving upper end of guidance
- Strategic progress with Nucleus Nexa System launch, R&D investment
- Focus on reducing fixed costs, improving margins
- Expecting low single-digit growth and net profit of $330-350 million in FY27
Full summary
Cochlear Ltd reported a 2% increase in sales revenue to $2.3 billion in constant currency for FY26, achieving the upper end of revised guidance. Underlying net profit was $322 million. The company launched the Nucleus Nexa System, a smart cochlear implant, and invested in R&D. Cochlear reduced fixed costs to create capacity for growth investments. The company expects low single-digit constant currency sales revenue growth and underlying net profit of $330-350 million in FY27, with gross margin expected to be around 70-71%.
Guidance
FY27 expected low single-digit sales revenue growth, underlying net profit $330-350 million, gross margin 70-71%
Outlook
Cochlear remains confident in long-term growth, driven by unmet clinical need and increasing awareness of hearing loss. Expecting modest revenue growth in developed and emerging markets, with services and acoustics revenue growth assumptions.
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