Nanosonics Limited · ASX:NAN
Nanosonics — H1 FY26 Earnings Presentation
31 slides from Nanosonics's earnings presentation, Feb 24, 2026
Slide 1: FY26 Half Year Results Investor Presentation
DRAFT – v4 INVESTOR PRESENTATION Michael Kavanagh Jason Burriss FY26 HALF YEAR RESULTS CEO and President CFO 24 February 2026
Slide 2: Protecting millions of patients every year
Protecting millions of patients every year Nanosonics TROPHON CORIS develops 38,080 cumulative Phased commercialisation installed base1 underway transformative technologies in medical device reprocessing to improve patient safety and deliver better health outcomes. Market leadership in Opportunity t
Slide 3: FY26 H1 financial highlights
FY26 H1 financial highlights Revenue growth and margin expansion drive solid operating performance TOTAL REVENUE GROSS PROFIT MARGIN OPERATING EXPENSES $102.2M 76.3% $69.5M 9% on PCP 2% pts on PCP 4% on PCP up 8% CC1 CONSOLIDATED OPERATING MARGIN EBIT PROFIT BEFORE TAX $8.5M $8.4M $10.6M 27% on PCP
Slide 4: Key achievements in H1 FY26
Key achievements in H1 FY26 Continuing momentum for long-term growth Innovation trophon3® and trophon2® CORIS® registrations in Plus launched Australia, EU and UK achieved Operations New Executive and New HQ and leadership talent appointed manufacturing facility to lead next phase of secured – Move
Slide 5: 38,080 devices driving scalable recurring revenue growth
38,080 devices driving scalable recurring revenue growth Approximately 29 million patients protected annually from the risk of cross contamination GLOBAL CUMULATIVE INSTALLED BASE (DEVICES)1 6% vs PCP RECURRING REVENUE ($M) 9% vs PCP 38,080 With a critical mass of 37,000 76.9 75.7 69.2 4.4 3.9 38,08
Slide 6: trophon installations grow 20% on pcp to 2,070 devices
trophon installations grow 20% on pcp to 2,070 devices Continued growth in the cumulative installed base with record upgrade units in North America CAPITAL REVENUE ($M) NEW INSTALLED BASE 9% 1,080 units 28.1 vs PCP 3% on PCP 26.3 26.5 24.4 21.9 UPGRADES 990 units 46% on PCP Upgrade were mainly troph
Slide 7: FY26 half year results
Z) nanosonics FY 26 half year results
Slide 8: Driving value creation
Driving value creation Trusted brand in automated high level disinfection with 38,080 cumulative installed base Customer value expansion powering high margin recurring revenue. Disciplined capital allocation driving operating leverage. Strong cash balance and high return on capital on trophon only b
Slide 9: Total revenue up 9% to $102 million
Total revenue up 9% to $102 million Installed base expansion and record US upgrades support capital and recurring revenue performance TOTAL REVENUE ($M) 105.0 102.2 9% Recurring revenue from consumables & service up 9% on pcp to 93.6 vs PCP 90.4 $75.7 million. 79.6 • Core consumables grew 9% on pcp
Slide 10: Regional performance: North America
Regional performance: North America North America achieves double digit revenue growth and record upgrade activity CUMULATIVE INSTALLED BASE (devices) UPGRADES (devices) REVENUE ($M) Continued growth in new IB, Record half for upgrades, Continued revenue growth, 890 units added in H1. with 980 units
Slide 11: Regional performance: EMEA & APAC
Regional performance: EMEA & APAC Focus on new installed base and recurring revenue opportunity, as majority of first generation trophon EPR upgrade opportunity is complete EUROPE, UK AND MIDDLE EAST ASIA PACIFIC INSTALLATIONS (devices) REVENUE ($M) INSTALLATIONS (devices) REVENUE ($M) 17% 43% 67% 1
Slide 12: Profit & Loss
Profit & Loss Operating margin of $8.5 million, up 27% H1 Change % $ millions H1 FY26 Change % FY25 at CC Capital revenue 26.5 24.4 9% • Total revenue growth of 9% to $102.2 million (8% in cc) Consumable/service revenue 75.7 69.2 9% Total revenue 102.2 93.6 9% 8% • Gross profit margin of 76.3%
Slide 13: Improving operating leverage
Improving operating leverage Revenue growth and cost discipline drive margin expansion GROSS PROFIT ($M & %) OPERATING EXPENSES ($M) OPERATING MARGIN ($M) 78.0% 76.3% 78.5% 76.3% 4% vs pcp 27%vs pcp 79.7% 81.9 71.9 10.0 78.0 73.4 69.0 69.5 63.4 6% 8.5 vs pcp 66.7 64.8 6.7 60.8 4.2 2.6 H1 FY24 H2 FY2
Slide 14: Strength and scalability of trophon only business
Strength and scalability of trophon only business1 Disciplined investment driving ongoing trophon growth and scalability, resulting in a 20% increase in operating margin H1 H1 $ millions Change % FY26 FY25 Capital revenue 26.5 24.4 9% Consumables and service revenue 75.7 69.2 9% • Operating Marg
Slide 15: Cash flow & cash balance
Cash flow & cash balance CASH FLOW Cash outflow reflects planned working capital investment in CORIS & trophon, commencement of share buy-back and timing of receivables. -$1.4M CASH BALANCE Debt free balance sheet with $159.8 million of cash & cash equivalents provides flexibility for long- $159.8M
Slide 16: Strategic growth in ultrasound reprocessing
Strategic growth in ultrasound reprocessing
Slide 17: Seven growth drivers of trophon
Seven growth drivers of trophon 1 New installed base device sales 2 Upgrade capital sales 3 Capital software upgrades trophon3 - ongoing new trophon2 Plus - software installed base growth Accelerate upgrade adoption upgrade package internationally through deeper – approximately 9,000 EPR opportunity
Slide 18: Lifetime value of trophon
Lifetime value of trophon Each new installed base device has a lifespan of 7-10 years, followed by upgrade to latest generation, with every device delivering customer value and recurring revenue. Initial Upgrade installation Year 1 2 3 6 5 6 7 8 14 CAPITAL New installed base & upgrade device sales C
Slide 19: Transforming endoscope reprocessing
Transforming endoscope reprocessing
Slide 20: CORIS executing on planned milestones
CORIS executing on planned milestones1 CORIS milestones to commercialisation European, US CMR European, UK & US 1st 510(k) UK CMR 1st 510(k) Australian UK & ANZ starts outcome starts commercialisation submitted certification commercialisation FY26 FY27 & beyond Regulatory European / UK & ANZ Approva
Slide 21: Controlled Market Release commences
Controlled Market Release commences First CORIS system installed under CMR "We are looking forward to the multiple benefits that CORIS can bring, from workflow efficiencies to confidence and assurance we are cleaning the endoscopes to the highest standard possible for patient safety.” Deputy Head of
Slide 22: Endoscopy: a large and growing market
Endoscopy: a large and growing market 60 million endoscopy procedures are conducted each year across major markets1 Annual Procedure Growth Volume (m) Rate 60m+ 18.1 Upper GI Projected procedure growth rate at 6% 1 U.S.A. 33.7 +5.4% per annum. GI 45.2 20.1 Colonoscopy 75% of procedures are upper and
Slide 23: Manual cleaning remains a challenge
Manual cleaning remains a challenge Lengthy process with 55 to 200 steps prone to error and variability Complex internal architecture of endoscopes makes manual cleaning extremely difficult with some channels inaccessible for brushing Manual cleaning is the longest technician-performed step in the e
Slide 24: Contamination persists and adverse events grow
Contamination persists and adverse events grow Harmful contamination & biofilm persists More than 35,000 adverse events in 2024, according to 5 despite reprocessing FDA MAUDE database • GI endoscopes and bronchoscopes have been associated with far more outbreaks of infections (>130 outbreaks) than a
Slide 25: CORIS addresses the challenges of manual cleaning
CORIS addresses the challenges of manual cleaning More efficacious CORIS uses a unique mechanism of action, that removes tough soils & biofilms that form in all the channels, including those that cannot be brushed today. More repeatable As an automated solution, it controls cleaning to each individu
Slide 26: Significant growth opportunity
Significant growth opportunity CORIS business model & revenue streams Capital equipment to be Number of daily cycles per installed in endoscope machine expected to be a reprocessing centres. multiple of trophon cycles at Capital a higher price to trophon cycle. Range of capital sales equipment & Con
Slide 27: Outlook & Guidance
Outlook & Guidance Infection Prevention Foe Li
Slide 28: FY26 guidance at constant currency
FY26 guidance at constant currency1 Reiterating full year guidance • Continued capital and recurring revenue growth, while spare parts are expected to remain lower as older units TOTAL $215m to $223m are upgraded. REVENUE • Capital average selling prices (ASP) are expected to be broadly consistent w
Slide 29: Appendix
trophon3) trophoni3® Appendix nanosonics Infection Prevention Forti
Slide 30: Income tax & constant currency disclosure
Income tax & constant currency disclosure Income tax Constant currency comparison • Effective income tax for the period was 9.2%. • Deferred tax asset consists of: Constant currency removes the impact of exchange rate movements to facilitate • $1.3m R&D tax credits carried forward comparability of o
Slide 31: Disclaimer
Disclaimer This presentation is intended to provide a general outline only and is not intended to be No representation, warranty or assurance (express or implied) is given or made in a definitive statement on the subject matter covered in it. The information in this relation to any forward looking s