Nanosonics Ltd
ASX:NAN

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Nanosonics Ltd Logo
Nanosonics Ltd
ASX:NAN
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Price: 4.19 AUD 0.48% Market Closed
Market Cap: 1.3B AUD

Nanosonics Ltd
Investor Relations

Nanosonics Ltd. engages in the research, development, and commercialization of infection control and decontamination products and related technologies. The company is headquartered in Sydney, New South Wales and currently employs 339 full-time employees. The company went IPO on 2007-05-17. The firm's principal activities include manufacturing and distribution of the trophon ultrasound probe disinfector and its associated consumables and accessories. The firm is focused on research, development and commercialization of infection control and decontamination products and related technologies. Trophon technology includes high-frequency ultrasonic vibrations that generates sonically activated hydrogen peroxide (H2O2) mist that kills bacteria, fungi, and viruses. The firm's products include trophon2, Nanosonics Auditpro, and trophon electron paramagnetic resonance (ERP). trophon2 includes AcuTrace radio frequency identification (RFID) technology, which enables digital record keeping and captures disinfection data. Nanosonics Auditpro provides real-time intelligence on ultrasound probes, operators, and infection control events to manage infection prevention practices across organizations.

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Last Earnings Call
Fiscal Period
Q4 2023
Call Date
Aug 21, 2023
AI Summary
Q4 2023

Revenue Growth: Nanosonics reported a 38% increase in revenue to $166 million for FY23, with strong growth across regions, especially in North America.

Profitability: Profit before tax rose sharply to $21.6 million from $1.6 million last year, reflecting operating leverage and improved margins.

Trophon Core Strength: The core trophon business generated approximately $44 million in profit before tax, up 175% year-on-year, with strong installed base growth and upgrades.

Gross Margin: Gross margin improved to 78.7% but is expected to moderate to 75-77% in FY24 due to sales mix and higher inventory costs.

Outlook: FY24 guidance targets revenue growth of 15-20% and continued leverage in operating expenses, with OpEx expected to grow 17-22%.

CORIS Progress: CORIS product trials are progressing, but US regulatory submission has been delayed to Q3 due to new FDA testing requirements.

Upgrade Sales: Upgrades grew over 80%, helping offset softer new installed base sales, and upgrades are expected to remain strong.

Key Financials
Revenue
$166 million
Profit Before Tax
$21.6 million
Trophon Installed Base
32,450 devices
Trophon New Installed Units
2,600 units
Trophon Upgrades Sold
over 1,800 units
Total Trophon Units Sold
4,410 units
Gross Margin
78.7%
Operating Expenses
$114 million
Free Cash Flow
just under $20 million
Cash and Cash Equivalents
$112 million
Capital Revenue
$54.2 million
Consumables and Service Revenue
$111.8 million
North America Revenue
$150.4 million
Europe Revenue
$8.1 million
Asia Pacific Revenue
$7.5 million
R&D Investment
$29 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Michael C. Kavanagh BSc, M.B.A.
CEO, President, MD & Executive Director
No Bio Available
Mr. Jason Burriss
Chief Financial Officer
No Bio Available
Mr. Rod Lopez M.B.A.
COO & Regional President for Asia Pacific
No Bio Available
Mr. Sunny Pillai
Chief Information Officer
No Bio Available
Mr. Jon Burdach Ph.D.
Chief Medical Affairs & Scientific Officer
No Bio Available
Mr. Matthew Carbines B.Com., L.L.B.
General Counsel & Company Secretary
No Bio Available
Mr. Matthew Lipscombe B.E., B.Sc., M.B.A.
Chief Marketing Officer
No Bio Available
Ms. Jodi Sampson M.A.I.C.D., M.B.A.
Chief People & Culture Officer
No Bio Available
Mr. Ken Shaw B.Sc.
Regional President of United States, Canada & Latin America
No Bio Available
Mr. Ronan Wright B.E., B.Sc.
Regional President of Europe, Middle East & Africa (EMEA)
No Bio Available

Contacts

Address
NEW SOUTH WALES
Sydney
14 Mars Rd, Lane Cove
Contacts