FY25 Revenue Hits A$129.2M as Polynovo’s US Sales Jump 28.7%
Polynovo Limited reported a robust 23.3% increase in total revenue for FY25, driven by strong commercial sales growth across the US and international markets. The company is advancing its FDA PMA submission and expanding its global footprint amid strategic product development.
- FY25 total revenue up 23.3% to A$129.2 million
- Commercial sales growth of 28.9%, led by US and Rest of World markets
- FDA PMA submission strategy confirmed post BARDA pivotal trial
- Expansion into new international markets with strong regional sales
- Positive cash flow and operational leverage support growth
Strong Financial Momentum
Polynovo Limited has delivered a compelling FY25 performance, with total revenue climbing 23.3% year-on-year to A$129.2 million. This growth was primarily fueled by a 28.9% increase in commercial sales of its flagship NovoSorb product line, reflecting accelerating adoption in key markets including the United States and Rest of World regions.
The company’s operating profit and net profit after tax surged significantly, supported by improved operational leverage where sales growth outpaced operating expenses. EBITDA rose by over 200% to A$11.2 million, underscoring a transition to stronger profitability and positive cash flow dynamics.
Global Expansion and Market Penetration
Polynovo’s geographic footprint expanded notably in FY25. US commercial sales reached A$88.4 million, up 28.7%, driven by increased hospital accounts and enhanced distribution networks. Rest of World sales grew 29.6% to A$30.3 million, with standout performances in Canada, the UK, France, Turkey, and India, where sales and units sold surged by over 80% and 149% respectively.
New market entries included Malaysia, Czech Republic, Malta, Portugal, and Peru, with recurring orders signaling promising demand. The company also broadened its presence in Hong Kong and Macau, reinforcing its global reach.
Regulatory and Product Development Progress
On the regulatory front, Polynovo completed the 3-month data review for the BARDA pivotal trial and confirmed its FDA Premarket Approval (PMA) submission strategy, which will follow the 12-month data milestone. This is a critical step toward broader US market access and reimbursement opportunities.
Product innovation continues with development of larger and smaller NovoSorb prototypes and antimicrobial options slated for preclinical studies in FY26. The company also reported positive preclinical results for its surgical mesh prototype, positioning it for future portfolio expansion.
Operational and Leadership Developments
Operationally, Polynovo enhanced production capacity to meet growing demand while maintaining compliance and efficiency. The company ended FY25 with a strong cash position of A$33.5 million and positive cash flow from operations, setting a solid foundation for FY26 growth.
Leadership changes include the appointment of a new CEO and a refreshed Board of Directors, signaling a strategic evolution as Polynovo aims to capitalize on its momentum and expand its clinical and commercial impact.
Bottom Line?
With regulatory milestones approaching and global sales momentum building, Polynovo is poised for a transformative next chapter.
Questions in the middle?
- How will the FDA PMA submission outcome influence Polynovo’s US market trajectory?
- What reimbursement strategies will Polynovo prioritize to accelerate adoption?
- How will the new CEO shape product development and international expansion?
