PolyNovo Limited (ASX: $PNV) has released its unaudited FY24 trading results, indicating a significant increase in total revenue and sales. The company reported a 57.5% rise in total revenue, reaching A$104.8m, and a 54.5% increase in sales, totaling A$92.0m for FY24. The strong growth in U.S. sales, up by 49.0% on the same time last year, and the surge in ROW sales, including notable performances in developed markets like UKI, Germany, and ANZ, contributed to the impressive results. The audited FY24 results will be disclosed on 23 August 2024.
Chairman, David Williams, highlighted the organic growth, strength of the UKI market, and the significant need for PolyNovo's product in conflict zones and developing countries. CEO, Swami Raote, expressed pride in the company's achievements, emphasizing the impact on patient outcomes and the responsibility to address the global need for healing millions more. Both executives acknowledged the efforts of clinicians and the company's mission to redefine healing for patients.
PolyNovo's FY24 trading results reflect substantial growth in total revenue and sales, driven by strong performances in the U.S. and ROW markets. The company's focus on surgeon education and charitable contributions, particularly in conflict zones, demonstrates its commitment to supporting patients in need. With the audited FY24 results set to be disclosed in August, PolyNovo remains optimistic about its mission to redefine healing and expand its product portfolio across different clinical indications. The company's dedication to addressing the global need for healing millions more underscores its ambitious corporate strategy and commitment to making a meaningful difference in patient outcomes.