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Highlights
- FY24 total revenue surged by 57.6% YoY to AUD 104.8 million.
- In FY24, PNV Achieved a net profit after tax of AUD 5.3 million, reversing a prior year loss of AUD 4.9 million.
- November monthly sales stood at AUD 10.1 million.
- A manufacturing facility is scheduled for operation by December 2025 to support growth.
PolyNovo Limited (ASX:PNV) is an ASX-listed medical device company that specialises in cutting-edge wound care technologies. It focuses on designing, developing, and manufacturing products like NovoSorb® BTM and NovoSorb® MTX. PNV has a market cap of AUD 1.42 billion.
In November 2024, the company recorded monthly sales of AUD 10.1 million, comprising sales of AUD 7 million from the US business and sales of AUD 3.1 million from the rest of the world. The period saw group revenue including BARDA of AUD 11 million.
Recent financial performance
In the financial year 2024 (FY24), total revenue reached AUD 104.8 million, a 57.6% increase from AUD 66.5 million in FY23. The period saw an increase in sales in direct markets accelerated across all geos, with global NovoSorb® BTM sales rising 54.5% YoY.
The company achieved a net profit after tax of AUD 5.3 million in FY24, a significant turnaround from the AUD 4.9 million loss recorded in FY23. Additionally, PolyNovo reported an EBITDA of AUD 3.64 million, reflecting an improvement of AUD 6.44 million compared to the prior year’s EBITDA loss of AUD 2.81 million.
Outlook
PNV is focused on driving growth through several key initiatives, including expanding the potential applications of its NovoSorb® BTM to treat skin cancer, vascular wounds, limb salvage, and free flaps.
The company is all geared up for the full market release of NovoSorb® MTX in the U.S., Hong Kong, and New Zealand. Additionally, PNV plans to introduce Suprathel into its product offerings in the UK, Australia, and New Zealand.
To support these efforts, the company is increasing its investment in research and development (R&D) and pipeline innovation. A new manufacturing facility is scheduled to become operational by December 2025.
Share performance of PNV
PNV shares closed 0.97% higher at AUD 2.08 per share on 24 December 2024. Over the past year, PNV’s share price has increased by 30%, and in the past three months, it has fallen by 18.43%.
52-week high of PNV is AUD 2.78, recorded on 1 August 2024, and its 52-week low is AUD 1.475, recorded on 16 January 2024.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 24 December 2024. The reference data in this report has been partly sourced from EODHD/Others.






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