Nanosonics Limited (ASX:NAN): FY26 Results, CORIS Launch Plans and Operational Update

Aditi Sarkar

22 October 2026 04:20 PM AEDT

Nanosonics Limited (ASX:NAN): FY26 Results, CORIS Launch Plans and Operational Update

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Highlights

Nanosonics (ASX:NAN) reported FY26 revenue of AUD 203.9 million, an increase of 3%.
FY26 EBIT declined 10% to AUD 16.0 million, while net profit after tax was AUD 17.8 million.
Total trophon placements increased 9% to 4,230 devices; the installed base reached 39,230.
The company outlined initial CORIS commercial launches and FY27 revenue guidance of AUD 220–228 million at constant currency.

Nanosonics Limited develops infection-prevention technologies for medical-device reprocessing, including its trophon ultrasound-probe disinfection platform and CORIS endoscope-cleaning system. On 22 October 2026, Nanosonics (ASX:NAN) was priced at AUD 3.04, up 0.33% for the day. The company’s FY26 results, published in August, detailed higher revenue, increased trophon unit placements and preparations for the commercial rollout of CORIS during FY27.

Company Business

Nanosonics (ASX:NAN) generates capital revenue from disinfection equipment and recurring revenue from consumables, services, repairs and related products. Its trophon range automates high-level disinfection of ultrasound probes. The company also offers traceability and service solutions to support healthcare providers’ reprocessing processes. Its activities span North America, Europe and Asia-Pacific, with North America accounting for the largest number of trophon placements in FY26.

The newer trophon3 product and trophon2 Plus software upgrade package were introduced during FY26. CORIS is a separate automated platform designed for cleaning the internal channels of flexible endoscopes. This diversification requires regulatory clearances, clinical-site implementation and commercial distribution arrangements across individual markets.

Recent Development

In its August 2026 full-year announcement, Nanosonics (ASX:NAN) reported 4,230 trophon unit placements, 9% above the prior corresponding period. It added 2,230 units to the installed base, increasing the cumulative total by 6% to 39,230. North American placements reached 3,880, increasing 13%, while upgrades in that region rose 32% to 1,980 units.

The company also advanced CORIS through controlled market releases in Australia and the United Kingdom, alongside activity at sites in Ireland and the United States. It reported regulatory clearances in Australia, Europe and the United Kingdom, an initial US FDA 510(k) clearance and a further US submission covering additional endoscope indications. Nanosonics planned commercial launches in Australia, the United Kingdom and Ireland in H1 FY27, with the United States to follow.

Financial Performance and Sector Context

For the year ended 30 June 2026, Nanosonics (ASX:NAN) recorded revenue of AUD 203.9 million, compared with AUD 198.6 million in FY25. The reported increase was 3%, or 6% at constant currency. Capital revenue rose 4% to AUD 54.7 million and recurring revenue rose 2% to AUD 149.2 million. These categories reflect equipment demand and ongoing utilisation of the installed fleet.

Gross margin declined from 78.2% to 76.9%, while operating expenses rose 2% to AUD 141.4 million. Group earnings before interest and tax fell 10% to AUD 16.0 million. The trophon-only business recorded management-adjusted EBIT of AUD 50.6 million, up 5%; this measure excludes costs allocated to CORIS development and commercialisation and should not be confused with consolidated earnings.

Net profit after tax decreased to AUD 17.8 million from AUD 20.7 million, while EBITDA was AUD 24.7 million. Nanosonics held AUD 155.2 million in cash and cash equivalents at 30 June 2026 and reported no debt. A completed AUD 20 million share buyback contributed to net cash outflows of AUD 6.4 million; excluding that buyback, the company generated AUD 13.6 million in cash.

Sector considerations include infection-control practices, procurement budgets, medical-device regulation, freight costs and tariffs. With substantial revenue denominated in US dollars, AUD currency movements also affect reported results. The FY26 release identified product mix and exchange rates as contributors to the lower gross margin.

Risks to Consider

Commercialising CORIS involves implementation, regulatory and customer-adoption risks. Spending ahead of sales may affect group profitability, while sales of trophon equipment depend on healthcare purchasing cycles and upgrades. For Nanosonics (ASX:NAN), foreign-exchange movements, tariffs and freight costs remain relevant to revenue translation and margins. The company’s planned CORIS spending adds another variable to FY27 operating expenses.

What to Watch Next

Nanosonics provided FY27 constant-currency revenue guidance of AUD 220–228 million, a gross-margin range of 74–76%, and operating-expense guidance of AUD 156–163 million. The assumptions included US tariffs remaining at 12.5% and no change to the global trading environment. Management anticipated initial CORIS revenue in the low single-digit millions and announced a proposed on-market buyback of up to AUD 40 million during FY27.

The next updates can clarify the timing of CORIS launches, regulatory progress, trophon upgrades and recurring-consumable revenue. Results will also show how higher CORIS investment affects group expenses and how currency and freight costs influence reported margins.

Key Insights

Nanosonics (ASX:NAN) finished FY26 with modest reported revenue growth, lower consolidated earnings and an expanded trophon installed base. Cash holdings and the absence of reported debt provide context for its commercialisation plans. Execution of the CORIS rollout, utilisation of trophon equipment and adherence to FY27 guidance remain measurable developments.

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