Nanosonics (ASX:NAN) expects FY22 revenue to reach A$120m
Infection prevention company, Nanosonics Limited (ASX:NAN), shared its business update Monday, July 25, 2022 that the transition to a direct sales model in North America is complete. After the change, shipping volume through Nanosonics’ Indianapolis facility increased by more than 100%, Nanosonics said in a statement.
The company also shared an update regarding trading for the fourth quarter of fiscal 2022 (4QFY22).
Nanosonics’ share price fell 9.09% to AU$4.20 each at 10:54 a.m. AEST. The benchmark, ASX 200 Health Care (INDEXASX:XHJ) fell 0.51% to 42,773.50 around the same time.
North American Direct Selling Model Update
Image source: © Rfischia | Megapixl.com
According to today’s post, Nanosonics has successfully completed the transition of GE Trophon customers in partnership with GE. A considerable portion of consumable sales is made through direct channels.
The 100% increase in shipping volume to Indianapolis has not disrupted customer supply. Additionally, the company boasts that it has the required capacity to handle the expected growth in the future, Nanosonics said.
The healthcare company has expanded its North American team, coupled with the expansion of direct operations. The expanded team reportedly sold 91% of newly installed base units in the fourth quarter.
According to the ASX announcement, in the second half of 2022, the number of upgraded units sold increased by 32% compared to the first half. Nanosonics achieved 86% of sales.
In FY22, the global installed base expanded 12% to 29,850.
The company expects Nanosonics to continue to provide the majority of future capital sales.
What to expect from Nanosonics in FY22?
The infection control technology developer expects a 17% increase (from FY21) in revenue to A$120.3 million for FY22.
Investors can expect to see FY22 revenue details and R&D update by August 23, 2022, Nanosonics informed.
Sharing Nanosonics performance
Shares of Nanosonics, over the past year, have fallen over 21%. The stock price has lost more than 34% since the beginning of the year and in the last month the stock price has gained more than 21%.
Nanosonics has developed and commercialized an automated disinfection technology – the Trophon device. The company’s vision is to provide fail-safe infection prevention solutions. The company’s headquarters are located in New South Wales, Australia.