Key Highlights

• FY26 Revenue reached A$203.9 million, up 6% at constant currency, with trophon-only EBIT of A$50.6 million.

• The CORIS System is planned for commercial launch across the UK, Ireland and Australia in H1 FY27, with a US launch to follow.

• FY27 revenue guidance was set at A$220–228 million at constant currency, representing 8–12% growth.

Shares of Nanosonics Ltd (ASX:NAN) closed at A$2.95 on 05 November 2026, edging up 1.03%. The S&P/ASX 200 (XJO) climbed 2.61%, adding 230.60 points to 9,065.10, while the S&P/ASX 200 Health Care index (XHJ) rose 3.64%, gaining 1,240.30 points to 35,329.10. The broader market received support from overnight Wall Street gains following Democrats' decisive victory in the U.S. midterm elections. Nanosonics is a global leader in infection prevention solutions, best known for its trophon device platform used in ultrasound probe disinfection.

FY26 Results and Trophon Franchise Performance

On 25 August 2026, Nanosonics reported its financial results for the year ended 30 June 2026. Total revenue was A$203.9 million, a 3% increase on the prior year, or 6% at constant currency. Capital revenue increased 4% to A$54.7 million, supported by a 9% increase in total trophon unit placements to 4,230 units. The global cumulative installed base grew 6% to 39,230 devices. North America delivered record placements of 3,880 units, up 13%, and record upgrades of 1,980 units, up 32%. The trophon-only Business generated EBIT of A$50.6 million, up 5%, or A$56.5 million at constant currency, representing 16% growth.

CORIS System Progress and Commercialisation

The CORIS System, Nanosonics' second platform targeting endoscope reprocessing, progressed through its Controlled Market Release (CMR) phase during FY26. CMR sites are now active in Australia, the UK, Ireland and the United States. The company reported positive customer feedback and achieved regulatory approvals in Australia, Europe, the UK and its first FDA 510(k) clearance in the US. A second 510(k) submission for further endoscope indications was also lodged. The commercial launch is planned across the UK, Ireland and Australia in H1 FY27, with the US launch to follow.

FY27 Guidance and Investment Outlook

Nanosonics guided FY27 revenue at constant currency of A$220 million to A$228 million, representing 8% to 12% growth. Gross Margin is expected to moderate to 74–76% due to the impact of a full year of US tariffs at 12.5% and higher freight costs. Operating expenses are projected at A$156 million to A$163 million, an increase of 10–15%, reflecting a deliberate step-up in investment to support the CORIS launch. The company also announced a new on-market share buyback of up to A$40 million for FY27. CORIS is expected to contribute initial revenues in the low single-digit millions.

About Nanosonics

Nanosonics Ltd is an Australian medical technology company specialising in infection prevention solutions. Its flagship trophon platform is the global standard for high-level disinfection of ultrasound probes. The company holds a cumulative installed base of over 39,000 devices across multiple geographies. Nanosonics is developing the CORIS System as its second growth platform, targeting the endoscope reprocessing market. The company is debt-free with cash and cash equivalents of A$155.2 million at 30 June 2026.

Sector Context

The ASX healthcare sector advanced on 05 November 2026, buoyed by the global market rally and a 3.64% gain in the Health Care sub-index. Medical technology companies with exposure to hospital infection prevention and procedural consumables continued to benefit from favourable Demand dynamics. The sector also remained attentive to the impact of US Tariff policies on medical device margins.

Risks

Nanosonics faces risks from foreign currency movements, particularly the AUD/USD rate, which compressed reported results in FY26 despite underlying growth. The company's FY27 guidance assumes no changes to the global trading environment and US tariffs at 12.5%, though any escalation could further impact margins. The CORIS launch carries commercial execution risk, including the pace of customer adoption and the cost of the deliberate investment step-up. Competition from established endoscope reprocessing solutions could also affect CORIS uptake.

Catalysts on Watch

Key catalysts include the commercial launch of CORIS in H1 FY27 across the UK, Ireland and Australia, the subsequent US launch, further growth in trophon upgrades and installed base expansion, the outcome of the second FDA 510(k) submission, progress on trophon2 Plus software upgrades, and initial CORIS revenue contribution. The A$40 million share buyback programme also provides capital return support.

The Road Ahead

Nanosonics enters FY27 with a growing trophon franchise, a debt-free Balance Sheet and its CORIS System nearing commercial launch. The transition from CMR to full commercialisation represents a pivotal phase for the company, and the pace of CORIS adoption will be closely monitored alongside continued performance of the core trophon business.