PolyNovo Limited (ASX:PNV) Reports Record Sales Month
Record Sales Achieved
PolyNovo Limited (ASX:PNV) reported a historic milestone with monthly sales reaching $A10.1 million (unaudited) for November 2024. This achievement marks the first time the company has surpassed the $A10 million threshold in a single month.
Strong U.S. Performance
The U.S. market demonstrated robust growth with sales of $A7.0 million (unaudited) in November, contributing to year-to-date sales of $A33.9 million, reflecting an increase of $A7.3 million or 27.3% compared to the same period last year.
Global Expansion
Sales from the Rest of the World reached $A3.1 million (unaudited) for the month. Year-to-date figures stand at $A10.5 million, up $A2.0 million or 24.0% versus the previous year. The company has gained market leadership in the UK and Germany within the full-thickness burns sector and is now expanding into soft-tissue reconstruction within these markets.
Financial Overview
Total revenue for the group, including BARDA contributions, was $A11.0 million (unaudited) in November. Year-to-date revenue reached $A49.6 million, reflecting a growth of $A10.1 million or 25.4% compared to the previous year.
Executive Comments
Chairman David Williams expressed pride in the humanitarian impact of their products, stating, “We are now supplying 46 countries, but we are most proud of the humanitarian outcomes being delivered in those countries.” CEO Swami Raote highlighted the uptake of NovoSorb products, noting, “It is satisfying to see our patient impact expanding at more than twice the rate of our revenue growth, to stand at 62,000 plus patients globally since treating our first patient.”
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended PolyNovo. The Motley Fool Australia has recommended PolyNovo. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.