- PolyNovo (PNV) reports record monthly sales of $7.2 million for May
- In the US, the company’s record monthly sales totalled $5.2 million, up 97.3 per cent on the same time last year
- Meanwhile, sales for the rest of the world met $1.9 million for May, up 189.3 per cent on the same point last year
- PolyNovo Chair David Williams says there was “a lot to like” about the company’s continued growth in sales
- Shares in PNV are up 8.08 per cent and trading at $1.57 at 11:45 am AEST
Medical device company PolyNovo (PNV) has reported record monthly sales of $7.2 million for May.
The company’s past record months were in September 2022 and January 2022, where it reported $5.4 million and $4.1 million in monthly sales, respectively.
In the US for May 2023, PolyNovo reported record monthly sales of $5.2 million, up 97.3 per cent on the same point last year.
As for the rest of the world, record monthly sales totalled $1.9 million for May, an increase of 189.3 per cent on the same time last year.
PolyNovo Chair David Williams said there was “a lot to like” about the company’s continued growth in sales.
“Some additional colour in the numbers is that sales YTD May 2023 in Canada were $1.3 million, sales to two of the four major hospitals in Hong Kong with a third evaluating, a significant first sale to the Middle East, sales to more than 15 customers in India and additional sales of NovoSorb MTX in the U.S,” he said.
“The momentum reflects more sales staff, new products like NovoSorb MTX, new medical indications and new geographies.”
Additionally, the company announced total revenue for the 11 months to May 31 of $59.1 million, up 54.5 per cent on the same time last year of $38.3 million.
PolyNovo CEO Swami Raote said the numbers demonstrated the company’s ability to quickly gain traction in new markets and grow in existing markets, but insists there remains a long way to go in its mission to redefine patient healing across the globe.
Shares in PNV were up 8.08 per cent and trading at $1.57 at 11:45 am AEST.