PolyNovo (PNV) Canaccord Genuity Growth Conference Presentation summary

Company overview and platform technology

• PolyNovo leverages its NovoSorb platform, a synthetic, resorbable polymer, to address critical needs in advanced wound care and reconstructive surgery, with a focus on burns and trauma.

• NovoSorb BTM and MTX are FDA-cleared products, with BTM also holding CE Mark and TGA registration, and are market leaders in Australia, New Zealand, UK, Germany, and rapidly growing in the US.

• The technology is immunologically inert, biocompatible, and designed for manufacturability and global scale at lower cost than biologics.

• PolyNovo holds 42 issued patents, providing IP protection through 2038 across key markets.

Market opportunity and global strategy

• Addressable markets include burns, trauma, hernia, breast reconstruction, and orthobiologics, with a combined TAM exceeding $9B.

• PolyNovo is expanding globally, with a presence in 41 countries and plans for market entry in Japan (CY25) and India (FY25).

• Strategic focus remains on burns and trauma, while open to alliances in adjacent indications and geographies.

• Over 50,000 patients treated and 280+ independent clinical publications support rapid adoption.

Financial performance and growth

• FY24 unaudited revenue reached A$104.8m, up 57.5% from A$66.5m in FY23; product sales were A$92.0m, up 54.5%.

• US sales grew 49% to A$68.7m, while Rest of World sales rose 73.1% to A$23.3m.

• 1H24 net profit after tax was A$2.7m, reversing a A$3.8m loss in 1H23; excluding non-cash items, NPAT was A$5.7m.

• Operating expenses increased 41.3% in 1H24, reflecting continued investment in R&D, clinical evidence, and geographic expansion.

• Cashflow from operations turned positive at A$0.6m in 1H24, with over A$46.8m in cash and equivalents following a 2022 capital raise.