ASX Stock in Focus: Nanosonics (ASX:NAN) holds 2026 AGM with CORIS launch and FY27 guidance in view

Sonal Goyal

04 November 2026 10:49 PM AEDT

ASX Stock in Focus: Nanosonics (ASX:NAN) holds 2026 AGM with CORIS launch and FY27 guidance in view

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Key Highlights

FY26 Revenue was $203.9 million, with a year-end cash balance of $155.2 million and no debt.
FY27 revenue guidance is $220 million to $228 million at constant currency.
Operating expenses are expected to rise to support the CORIS commercial launch.
A buyback of up to $40 million is included in the company's FY27 plans.

Nanosonics Limited (ASX:NAN), the Sydney-based infection prevention company known for its trophon ultrasound probe disinfection system, held its 2026 Annual General Meeting on the ASX today. The hybrid meeting began at 11.00am AEDT on Wednesday 4 November 2026 at the company's Macquarie Park premises and online. It gave shareholders their first formal gathering since the company reported its FY26 results in August, when it set FY27 revenue guidance of $220 million to $228 million at constant currency and outlined plans for the commercial launch of its CORIS endoscope cleaning technology. Healthcare was among the sectors that moved lower on the ASX today.

The AGM: timing and format

Nanosonics published its notice of meeting on 2 October 2026. The meeting was held in person at Level 1, Building A, 7-11 Talavera Road, Macquarie Park, and online via the Meetnow platform, with registration from 10.30am AEDT.

Shareholders were asked to submit written questions by Friday 30 October 2026, and proxy forms were due by 11.00am AEDT on Monday 2 November 2026. Shareholding eligibility was determined as at 7.00pm AEDT that day. Annual general meetings typically include addresses from the chair and chief executive, and the formal results of Shareholder votes are lodged with the ASX after the meeting closes.

FY26 results recap

Nanosonics reported its results for the year ended 30 June 2026 on 25 August 2026. Total revenue was $203.9 million, up 3 per cent on the prior corresponding period, or $211.5 million and up 6 per cent at constant currency.

Capital revenue, which comes mainly from sales of trophon devices, was $54.7 million, up 4 per cent. Recurring revenue, covering consumables, ecosystem products, service and spare parts, was $149.2 million, up 2 per cent. Recurring Revenue therefore made up the majority of group sales, reflecting the consumables used each time a probe is disinfected.

The trophon installed base reached 39,230 devices, up 6 per cent, with 2,230 new installed base units added during the year. Total unit placements were 4,230, up 9 per cent, including a record 1,980 North American replacements of older devices, an increase of 32 per cent.

Gross Margin was 76.9 per cent, lower than the prior year. Operating expenses were $141.4 million, up 2 per cent. EBIT was $16.0 million and profit before tax was $20.1 million, both down 10 per cent, although at constant currency profit before tax rose 15 per cent. The company finished the year with $155.2 million in cash and cash equivalents and no debt, having completed a $20 million share buyback.

FY27 guidance and the CORIS launch

For FY27, Nanosonics has guided to revenue of $220 million to $228 million at constant currency, representing growth of 8 to 12 per cent. It expects gross margin of 74 to 76 per cent and operating expenses of $156 million to $163 million, an increase of 10 to 15 per cent.

The higher cost base reflects Investment in CORIS, the company's new technology for cleaning flexible endoscopes. CORIS is in a Controlled Market Release in Australia, the United Kingdom, Ireland and the United States. Nanosonics has received regulatory approvals in Australia, Europe and the UK, along with its first US Food and Drug Administration 510(k) clearance, and has submitted a second 510(k).

The company plans a commercial launch in the UK, Ireland and Australia in the first half of FY27, with the US to follow. It expects initial CORIS revenue in the low single-digit millions in FY27, so the product is not expected to be a major contributor to revenue this year.

Chief Executive Officer and President Michael Kavanagh said at the time of the results that "trophon remains the economic engine for Nanosonics and an important foundation for future value creation."

Capital management

Nanosonics plans a new on-market share buyback of up to $40 million in FY27, double the size of the buyback completed in FY26. With no Debt and more than $150 million in cash at 30 June 2026, the company has funding flexibility to support the CORIS rollout while returning Capital to shareholders.

The broader backdrop

The meeting took place a day after the Reserve Bank of Australia raised the cash rate by 25 basis points to 4.85 per cent, its fifth increase this year. For a company with no debt and a cash balance, higher rates can increase interest income, although the effect on Nanosonics' overall results is small relative to its trading revenue.

Currency is a more significant influence. A large share of Nanosonics' sales is generated in North America, so Exchange Rate movements affect reported revenue in Australian dollars. This is why the company reports and guides at constant currency, and why the gap between reported and constant currency results was noticeable in FY26.

What to watch

Investors following Nanosonics will be watching several items in the months ahead. The first is the progress of the CORIS commercial launch in the UK, Ireland and Australia, including the number of sites adopting the technology. The second is the timing of the second US 510(k) decision and the subsequent US launch. The third is trophon placements in North America, where replacements of older devices drove record numbers last year. The fourth is the pace of the up to $40 million buyback. The company's half-year results will be the next major checkpoint against guidance.

Key Takeaways

Nanosonics held its 2026 annual general meeting today, following FY26 revenue of $203.9 million, a trophon installed base of 39,230 devices and a year-end cash balance of $155.2 million with no debt. The company has guided to FY27 revenue of $220 million to $228 million at constant currency, higher operating expenses to support CORIS, and a buyback of up to $40 million. With the CORIS commercial launch planned for the first half of FY27, launch progress, US regulatory milestones and trophon placements are the key items for investors following the company on the ASX today.

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