PolyNovo Limited (ASX:PNV): FY26 Revenue, NovoSorb Technology and Wound Care Expansion

Aditi Sarkar

14 October 2026 12:25 AM AEDT

PolyNovo Limited (ASX:PNV): FY26 Revenue, NovoSorb Technology and Wound Care Expansion

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Highlights

PolyNovo reported FY26 total revenue of AUD 150.0 million and commercial sales of AUD 138.4 million.
FY26 EBITDA reached AUD 12.1 million, while net profit after tax was AUD 7.3 million.
Operating cash flow totalled AUD 23.1 million, with free cash flow of AUD 9.4 million.
NovoSorb BTM uses a biodegradable polyurethane matrix to support tissue regeneration in complex wounds.
The company completed construction of a new manufacturing facility and progressed regulatory submission activities.

PolyNovo Limited (ASX:PNV) develops medical devices for complex wound management using its proprietary NovoSorb biodegradable polymer technology. Its products include NovoSorb BTM, a dermal scaffold used in wound reconstruction, and NovoSorb MTX, a synthetic dermal matrix without a sealing membrane. The company’s FY26 results bring together commercial sales growth, operating cash generation, manufacturing expansion and regulatory work relating to additional clinical applications.

FY26 Sales and Profitability

For the year ended 30 June 2026, PolyNovo Limited (ASX:PNV) reported total revenue of AUD 150.0 million, an increase of 16.1%. Commercial sales were AUD 138.4 million, up 16.7%. The commercial sales measure reflects the company’s product business, while total revenue includes other income categories reported in its results.

PolyNovo Limited (ASX:PNV) recorded EBITDA of AUD 12.1 million and net profit after tax of AUD 7.3 million. The different earnings measures should be considered separately: EBITDA excludes certain financing, tax, depreciation and amortisation items, whereas net profit reflects the reported after-tax result. The FY26 gross margin was 89.0%.

How NovoSorb BTM Supports Tissue Repair

The NovoSorb BTM product is designed to facilitate growth of dermal tissue within a synthetic, biodegradable polyurethane matrix. Its bilayer structure combines an open-cell scaffold with a temporary outer sealing membrane. The matrix creates space for cellular infiltration and tissue development, while the membrane acts as a temporary covering during the integration process.

According to the product information published by PolyNovo Limited (ASX:PNV), the outer layer can be removed when the wound bed is ready for definitive closure. The company describes gradual breakdown of the implanted matrix over time. These design features distinguish the product’s physical role in reconstructive wound management from a medicine that directly treats an underlying disease.

Manufacturing and Product Development

In its August 2026 results, PolyNovo Limited (ASX:PNV) reported increased manufacturing output during the second half of FY26. Construction of its new manufacturing facility was completed, with validation activities progressing ahead of a planned transition in FY27. Manufacturing validation remains relevant because additional capacity must meet product and quality requirements before being integrated into routine supply.

NovoSorb MTX expanded the company’s wound-care formats during FY26. Unlike BTM, MTX has no temporary sealing membrane. Its rollout adds another product to the NovoSorb platform.

Cash Generation and Regulatory Work

Operating cash flow for FY26 was AUD 23.1 million, and free cash flow was AUD 9.4 million. These amounts give an indication of cash generated by the business and the cash remaining after capital expenditure under the company’s reported definition. PolyNovo Limited (ASX:PNV) also reported the completion of important milestones in a clinical trial supported by the US Biomedical Advanced Research and Development Authority.

Its FY26 announcement stated that premarket approval submission activities for the United States had advanced. Regulatory applications and marketing permissions are distinct steps; progress towards an application does not establish that a new authorisation has been granted. Clinical documentation, manufacturing validation and regulatory review therefore remain relevant to any expansion in permitted product claims.

Key Insights

PolyNovo Limited (ASX:PNV) combined FY26 commercial sales of AUD 138.4 million with positive operating and free cash flows. Its NovoSorb portfolio, completed facility construction and ongoing regulatory activities connect product design with manufacturing readiness and market access. The reported results establish the financial position for FY26 without resolving future clinical, regulatory or commercial outcomes.

FAQs

Q:What does PolyNovo manufacture?

A:It develops synthetic biodegradable medical devices for managing complex wounds, including NovoSorb BTM and NovoSorb MTX.

Q:What revenue did PolyNovo report in FY26?

A:Total revenue was AUD 150.0 million, including commercial sales of AUD 138.4 million.

Q:How does NovoSorb BTM work?

A:It provides a temporary matrix that supports cellular infiltration and dermal tissue formation during wound reconstruction.

Q:What was the company’s FY26 operating cash flow?

A:PolyNovo reported operating cash flow of AUD 23.1 million and free cash flow of AUD 9.4 million.

Q:What manufacturing milestone was reported?

A:Construction of a new facility was completed, and validation activities were progressing ahead of the planned FY27 transition.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.