Nanosonics shares plunge following FY26 earnings report

Nanosonics shares fell up to 25% following its fiscal year 2026 results, despite the company announcing a $40 million share buyback. The company reported annual revenue of $203.9 million, a 3% increase, while EBIT declined by 10% to $16 million. However, on a constant currency basis, revenue rose 6% to $211.5 million and EBIT increased 21% to $21.6 million.

CEO Michael Kavanagh attributed a slight miss in guidance to severe weather in the northeastern United States, which constrained hospital procedures and impacted consumables revenue. He noted that sales rebounded in the fourth quarter.

The company is preparing for the commercial launch of its Coris device, designed to process flexible endoscopy probes. Following a controlled market release, Coris is scheduled for commercial launch in the UK, Ireland, and Australia, with a North American launch to follow. Meanwhile, sales of the company’s mainstay Trophon units reached a three-year high during the year ending June 30, 2026.