AFT Pharmaceuticals Limited (AFT) H1 2026 earnings summary

Executive summary

• Achieved 10th consecutive first half revenue increase, with 1H 26 revenue up 33% to $114.9m, led by strong growth in Australia and recovery in Asian and international markets.

• EBITDA improved to $6.6m from a loss of $0.7m; operating profit reached $4.7m from a loss of $1.8m in 1H 25.

• Expanding global footprint, now selling in 85 countries, with new launches in Egypt and Thailand and new business hubs in South Africa, UK, Canada, and USA.

• Continued investment in R&D and business development, with five R&D programs being commercialized and eight patented products in the pipeline.

• On track to deliver FY26 operating profit within the previously outlined range and reiterates confidence in reaching $300 million annual revenue in FY27.

Financial highlights

• Operating revenue rose 33% to $114.9 million compared to 1H 25, marking the 10th consecutive first-half revenue increase since listing.

• Gross profit increased to $49.7m (43.2% margin), up from $36.2m (41.7% margin) in 1H 25.

• Operating profit was $4.7 million, up from a $1.8 million loss in 1H 25; EBITDA reached $6.6 million, up from a $0.7 million loss.

• Operating expenses rose 18% to $45.0m, reflecting investments in growth, R&D, and ERP migration.

• Profit after tax was $2.7m, compared to a loss of $2.5m in 1H 25.

Outlook and guidance

• Second half sales and earnings expected to exceed first half, driven by new launches, international expansion, and scaling of business hubs.

• Reaffirms FY26 operating profit guidance of $20–24 million and pathway to $300 million annual revenue in FY27.

• Ongoing investment in R&D and international expansion expected to support long-term growth.

• Product and geographic diversification seen as key to resilience.