Advance NanoTek (ASX:ANO): Q1 FY27 Result Not a Predictor of Full-Year Performance

Aditi Sarkar

08 October 2026 02:03 PM AEDT

Advance NanoTek (ASX:ANO): Q1 FY27 Result Not a Predictor of Full-Year Performance

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Highlights

Advance NanoTek reported a 71% decline in Australian Revenue for the first quarter of FY27.
The decline followed lower Veganic sunscreen sales and order cancellations after media reporting in December 2025.
ANO is preparing a claim against MooGoo and expects proceedings to begin soon.
The Board considers Q1 results a poor forward indicator for first-half and full-year results.

Advance NanoTek Limited (ASX:ANO) has reported that its Australian revenue fell 71% in the first quarter of FY27. The company linked the decline to a material drop in sales of Veganic sunscreen products, a key end-market for its zinc oxide, and said it is preparing legal action over the matter.

Background to the Revenue Decline

According to the announcement, the decline followed ABC media reporting in December 2025 on comments made by MooGoo about zinc in Veganic sunscreen products. The Therapeutic Goods Administration (TGA) subsequently became involved regarding Veganic's product labelling.

After the reporting and TGA involvement, some Veganic customers cancelled orders. Veganic then cancelled matching orders with ANO, which contributed to the material decline in sales during the quarter.

Proposed Claim Against MooGoo

ANO stated that MooGoo's public statements, which it described as misleading, are "the cause of the impact to revenue." The company is preparing a claim against MooGoo for its losses.

ANO has engaged legal counsel and is finalising its position, including the amount of the claim. No proceedings have been filed yet, but the company expects them to begin soon and will provide a further update once the process is complete.

Board Outlook for FY27

The Board noted that sales in the first quarter of FY26 represented 18% of total annual sales for that year, indicating that the first quarter has historically made up a smaller share of annual revenue.

On this basis, the Board considers the Q1 FY27 result a poor forward indicator and not a predictor of first-half or full-year results. The announcement was authorised by Managing Director Geoff Acton.

Key Takeaways

Australian revenue fell 71% in Q1 FY27, mainly due to lower Veganic sunscreen sales.
ANO attributes the decline to public statements by MooGoo and is preparing a legal claim.
No proceedings have been filed yet, and the claim amount is still being finalised.
The Board does not view the Q1 result as a predictor of half-year or full-year performance.

FAQs

Q: How much did Advance NanoTek's Australian revenue fall in Q1 FY27?

A: Australian revenue fell 71% in the first quarter of FY27.

Q: What caused the decline?

A: Sales of Veganic sunscreen products declined after media reporting and TGA involvement, leading to order cancellations.

Q: Is ANO taking legal action?

A: ANO is preparing a claim against MooGoo and expects proceedings to begin soon.

Q: Has the claim amount been disclosed?

A: No, ANO is still finalising its position, including the amount of the claim.

Q: How does the Board view the Q1 result?

A: The Board considers it a poor forward indicator and not a predictor of first-half or full-year results.

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