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Highlights

  • AFT Pharmaceuticals reports FY2025 revenue of $208M, exceeding targets and up 6% YoY.

  • Operating profit and EBITDA fell 27% and 20% respectively, impacted by international expansion and product launches.

  • Company sets $300M revenue goal for FY2027, driven by global growth and new licensing deals.

AFT Pharmaceuticals Ltd (ASX:AFP) has outperformed its financial targets for the 2025 fiscal year, delivering $208 million in operating revenue—a 6% year-on-year increase and a significant milestone for the company. As AFT looks ahead, it has now set its sights on a more ambitious target: reaching $300 million in annual revenue by FY2027.

The result, for the financial year ending March 31, was underpinned by 11% growth in product sales and royalties across all operating regions, supplemented by $0.7 million in licensing income. The highest gains came from AFT’s core markets, with revenue in Australia and New Zealand rising 17% and 10% respectively.

While the Australian market experienced a 65% increase in operating profit, some of this momentum was tempered by one-off factors including inventory destocking and temporary demand disruptions for the company’s key pain relief product, Maxigesic IV.

Despite the top-line strength, earnings were down, reflecting the company's continued investment in global expansion and R&D. EBITDA fell 20% to $20.9 million, operating profit declined 27% to $17.6 million, and net profit after tax dropped 23% to $12 million. These figures were in line with the company’s half-year guidance, indicating the dip was expected.

Managing Director and co-founder Dr Hartley Atkinson described the 2025 fiscal year as a period of strategic progress, noting that while short-term profits were impacted, AFT made significant advances in global expansion and product development.

“Alongside continued strong growth in our core Australasian businesses, we have significantly advanced our strategy to extend our reach across multiple geographies and added to our R&D pipeline,” Dr Atkinson said.

Notable achievements during the year included:

  • The launch of Maxigesic tablets in the U.S.

  • Introduction of a proprietary antiseptic cream in mainland China

  • Multiple licensing agreements, including Maxigesic IV in China and Brazil

“These efforts have come at the cost of short-term earnings growth, but we are convinced they will deliver growth in long-term shareholder value,” Dr Atkinson added.