Nanosonics Limited · ASX:NAN
Nanosonics — FY2026 Earnings Presentation
37 slides from Nanosonics's earnings presentation, Aug 25, 2026
Slide 1: Infection prevention. For life.
Draft v4 Infection prevention. For life. FY26 Investor Presentation Michael Kavanagh CEO & President Jason Burriss CFO 25 August 2026
Slide 2: Protecting 31 million patients every year
Protecting 31 million patients every year Nanosonics develops transformative technologies in medical device reprocessing to improve patient safety and deliver better health outcomes. 2
Slide 3: Solid revenue and earnings growth at constant currency
Solid revenue and earnings growth at constant currency REVENUE AT CONSTANT 1 REPORTED REVENUE CURRENCY (CC) $203.9M 3% on pcp $211.5M 6% CC GROSS PROFIT % GROSS PROFIT % AT CC 76.9% 1.3 pts on pcp 77.6% 0.6 pts on pcp OPERATING EXPENSES OPERATING EXPENSES AT CC $141.4M 2% on pcp $143.9M 4% CC EBIT E
Slide 4: Core trophon-only business profitability growing strongly
Core trophon-only business profitability growing strongly Generating cash and funding next platform growth. Sustained EBIT growth and high-quality cash conversion in the trophon- only business demonstrates durability and provides self-funded capacity for the next phase of growth. EBIT EBIT in CC $50
Slide 5: FY26 delivery sets up next phase of growth
FY26 delivery sets up next phase of growth Milestones met across trophon leadership, CORIS launch readiness and operational expansion Scaling operations for Advancing trophon leadership CORIS moving to launch growth trophon3 and trophon2 Plus launched, with Regulatory clearance across UK, Europe and
Slide 6: Installed base expands and upgrades accelerate
Installed base expands and upgrades accelerate Cumulative Installed Base 6% Upgrades 20% Total unit placements 9% growth on pcp growth on pcp growth on pcp 4,230 39,230 2,000 37,000 3,850 3,870 1,660 34,790 1,510 (Devices) (Devices) (Devices) FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 • 2,230 new
Slide 7: Growth across both Capital and Recurring revenue
Growth across both Capital and Recurring revenue Total Revenue Capital Revenue Recurring Revenue 3% 6% 4% 8% 2% 6% growth on pcp in growth on pcp growth on growth on growth on growth on pcp CC pcp in CC pcp pcp in CC (8% excl. spare parts) 211.5 154.8 203.9 56.7 149.2 198.6 146.1 54.7 170.0 52.5 121
Slide 8: Now entering a defining period of long-term growth
Now entering a THE CORIS SYSTEM defining period of Transformation potential long-term growth Strong fundamentals of adoption, with regulatory clearance secured across the UK, Europe and Australia. with second Phased commercial launch across all regions starting in H1 FY27. transformational platform
Slide 9: FY26 Financial Results
FY26 Financial Results 9
Slide 10: A year of constant currency earnings growth, disciplined investment and capital returns
A year of constant currency earnings growth, disciplined investment and capital returns • EBIT growth of 21% in constant currency with solid Revenue growth and disciplined operating expense performance. • Continuing operational leverage gains in the trophon- only business. • Investing in the future
Slide 11: Disciplined execution delivering increased EBIT in constant currency
Disciplined execution Profit & Loss delivering increased EBIT in $ millions FY26 Reported FY25 Reported % growth Reported % growth at CC1 constant currency Capital revenue Recurring revenue 54.7 149.2 52.5 146.1 4% 2% 8% 6% Total revenue 203.9 198.6 3% 6% • Reported Revenue of $203.9 million, up 3%.
Slide 12: 8% Capital Revenue growth in constant currency, led by record North American placements
Capital Revenue 8% Capital Revenue growth in 4% 8% growth on growth on constant currency, led by record pcp pcp in CC North American placements 56.7 Capital Revenue up 4% on pcp, or 8% in CC. 54.7 • Growth driven by higher volumes. 52.5 • North America remained the key growth driver, with record pla
Slide 13: 8% Annuity Revenue growth at constant currency demonstrating quality of the business model
8% Annuity Revenue growth at constant 1 Annuity Revenue currency demonstrating quality of the 8% (Recurring Revenue, excluding spare parts) 4% growth on growth on pcp business model pcp in CC 147.1 141.8 136.7 Annuity Revenue grew 4% on pcp, or 8% at CC. 34.8 • Core consumables, flat on pcp, or up 4
Slide 14: Record North American adoption, with upgrades up 32%
Record North American adoption, with upgrades up 32% Cumulative Installed Upgrades Total Placements Base 6% 32% 13% growth on growth on pcp growth on pcp pcp 34,210 1,980 3,880 32,310 3,420 1,500 3,300 30,390 1,300 (Devices) (Devices) (Devices) FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 • Cumulati
Slide 15: 8% North America Revenue growth in constant currency
8% North America Revenue growth in constant currency Revenue Annuity Revenue 3% 8% (Annuity revenue = Recurring Revenue, excluding spare parts) 4% 9% growth on pcp growth on pcp in growth on pcp growth on pcp in CC CC 194.2 186.4 7.6 180.4 132.2 7.3 126.8 9.3 121.7 31.0 154.2 54.3 103.7 25.7 29.4 5.
Slide 16: Continuing cumulative installed base growth in EMEA & APAC
Continuing cumulative installed base growth in EMEA & APAC EMEA Cumulative Installed Base grows 8% on pcp APAC Cumulative Installed Base grows 6% on pcp 1% Growth on pcp Cumulative Installed Base Revenue Cumulative Installed Base Revenue 12.2 12.3 -14% on pcp 2.0 1.5 2,630 10.1 10.8 2,390 6.0 1.8 10
Slide 17: Cost discipline supports 21% EBIT growth at constant currency
Cost discipline supports 21% EBIT growth at constant currency Gross Profit Operating Expenses Earnings before interest and taxes -1.3 -0.6 2% 4% -10% 21% ppts on pcp growth on pcp growth on pcp in on pcp growth on pcp in ppts on pcp in CC CC CC 141.4 143.9 138.7 21.6 77.9% 78.2% 77.6% 76.9% 125.6 14
Slide 18: Strong cash position
Strong cash position $155.2 million in cash and debt free, with capacity to invest and return capital. $13.6M $155.2M FY25 to FY26 cash flow bridge business cash flow1 cash & cash 13.6 equivalents 161.6 155.2 -20.0 • $155.2 million in cash and cash equivalents, with no debt. • $13.6 million of busin
Slide 19: Strategic Growth In Ultrasound Reprocessing
Strategic Growth In Ultrasound Reprocessing 19
Slide 20: The global experts in ultrasound probe reprocessing.
The global experts in ultrasound probe reprocessing. Nanosonics pioneered the trophon® device, a unique automated high-level disinfection technology for ultrasound probes. It offers unmatched probe compatibility: 1,400+ probes across 31 leading manufacturers, each tested and validated. No solution o
Slide 21: trophon momentum
trophon momentum Achievements Ahead Next generation Continued installed base technology growth launched Cumulative installed trophon3 and trophon2 base expanded Plus upgrade momentum Upgrades accelerated Consumables & service expansion Operating leverage and Continued operating cash generation lever
Slide 22: trophon earnings strength funds future growth
trophon earnings strength funds future growth trophon-only Profit & Loss FY26 FY25 % growth % growth Demonstrates the core franchise’s earnings power, cash $ millions Reported Reported Reported at CC generation and expanding operating leverage. Capital revenue 54.7 52.5 4% 8% Recurring revenue 149.2
Slide 23: A multi-lever strategy for continued trophon growth
A multi-lever strategy for continued trophon growth Seven growth levers across capital and recurring revenue. CAPITAL REVENUE RECURRING REVENUE 01 New installed base device sales, trophon3 04 Core consumables 02 Upgrade capital sales 05 Ecosystem consumables 03 Capital software upgrades, trophon2 Pl
Slide 24: Transforming Endoscope Reprocessing
Transforming Endoscope Reprocessing 24
Slide 25: Transforming flexible endoscope reprocessing.
Transforming flexible endoscope reprocessing. The Nanosonics CORIS® System introduces a groundbreaking approach to cleaning the internal channels of flexible endoscopes, delivering consistent, validated and traceable outcomes. Powered by CORIS PULSS (Pulsed Suspended Solids) technology, it delivers
Slide 26: The CORIS System: a substantial opportunity launching in H1 FY27
The CORIS System: a substantial opportunity launching in H1 FY27 Groundbreaking technology 01 Automated technology setting a new benchmark in patient safety. 60 million procedure TAM1 02 Substantial underserved market, with strong fundamentals for adoption. Attractive business model 03 Attractive re
Slide 27: A critical cleaning step, manual methods cannot reliably complete
A critical cleaning step, manual methods cannot reliably complete Cleaning is the critical first step in reprocessing flexible endoscopes, yet it remains manual, variable and unverified. The CORIS System automates it. THE PROBLEM THE SOLUTION Manual cleaning cannot reach every channel The CORIS Syst
Slide 28: Entering commercial launch in H1 FY27
Entering commercial launch in H1 FY27 Real world CMR experience Early clinical utility supported >60M “Incredible enhancement for endoscope reprocessing and improving patient safety.” Positive feedback with strong confidence procedural TAM1 in consistent cleaning, with further and across key regions
Slide 29: Five CMR sites live across four markets
Five CMR sites live across four markets Australia and the UK commenced in H2 FY26, with further sites now active in Ireland, the United States and Australia. 01 Australia 02 United States 03 Ireland 04 United Kingdom 29
Slide 30: Every CORIS installation builds recurring value
Every CORIS installation builds recurring value Capital, consumables and service compound as the installed base grows, leveraging the same annuity model as trophon. 04 03 02 SERVICE ~80% 01 CONSUMABLES 4-6X TROPHON U T I L I S AT I O N ~10 C A P I TA L & A C C E S S O R I E S attachment rate 3-5X TR
Slide 31: Stepping up FY27 CORIS investment for launch
Stepping up FY27 CORIS investment for launch Disciplined use of a strong balance sheet for long-term shareholder value creation. Build commercial capacity to drive demand • CORIS sales specialists, clinical, installation and support teams in market • Build awareness and pipeline • Establish first fl
Slide 32: Outlook & Guidance
Outlook & Guidance 32
Slide 33: FY27 Outlook
FY27 Outlook Nanosonics enters FY27 with strong momentum, forecasting Revenue growth of 8% to 12% at constant currency, while stepping up investment in the CORIS System. FY27 guidance at constant currency Notes & assumptions $220 million to $228 million, reflecting 8% • Customer demand for trophon i
Slide 34: Launching a $40 million share buyback
Launching a $40 million share buyback On-market buyback of up to $40 million in FY27, alongside continued investment in trophon and the CORIS launch. Balance sheet strength to invest and return capital. Note: The share buyback will impact interest earned and cash balance. The program may be varied,
Slide 35: Appendices
Appendices 35
Slide 36: Income tax & constant currency disclosure
Income tax & constant currency disclosure Income tax Constant currency comparison • Effective income tax for the period was 11% (FY25 7%) Constant currency removes the impact of exchange rate movements to facilitate comparability of operational • Assessment of probability of recovery (and therefore
Slide 37: Disclaimer
Disclaimer This presentation is intended to provide a general outline make their own independent assessment of the Group undertaking to disseminate any updates or revisions to only and is not intended to be a definitive statement on and undertake such additional enquiries as they deem any forward lo