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Nanosonics Limited (AU:NAN)
:NAN
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Nanosonics Limited (NAN) AI Stock Analysis

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AU:NAN

Nanosonics Limited

(OTC:NAN)

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Outperform 76 (OpenAI - 4o)
Rating:76Outperform
Price Target:
AU$5.00
▲(10.38% Upside)
Nanosonics Limited's overall stock score reflects its strong financial performance and positive earnings call sentiment, which are the most significant factors. The technical analysis indicates a positive trend, while the high P/E ratio suggests overvaluation concerns. The absence of corporate events and dividend yield slightly dampens the overall attractiveness.

Nanosonics Limited (NAN) vs. iShares MSCI Australia ETF (EWA)

Nanosonics Limited Business Overview & Revenue Model

Company DescriptionNanosonics Limited, together with its subsidiaries, operates as an infection prevention company in Australia and internationally. The company engages in the manufacturing and distribution of the trophon ultrasound probe disinfector, and its associated consumables and accessories; and research, development, and commercialization of infection control and decontamination products and related technologies. It provides trophon2, an ultrasound probe high level disinfection device; trophon EPR, a low temperature high level disinfection solution for intra-cavity ultrasound probes; and Nanosonics AuditPro, an infection control workflow compliance management solution. Nanosonics Limited was incorporated in 2000 and is headquartered in Macquarie Park, Australia.
How the Company Makes MoneyNanosonics generates revenue primarily through the sale of its Trophon devices and related consumables, including disinfectants and accessories required for the operation of the system. The company employs a razor-and-blades model where the initial sale of the Trophon system is complemented by recurring revenue from the ongoing purchase of consumables. Additionally, Nanosonics benefits from strategic partnerships with healthcare providers and distributors to expand its market reach and enhance sales. The adoption of its technology in hospitals and clinics worldwide significantly contributes to its earnings, supported by a growing emphasis on infection control in healthcare settings.

Nanosonics Limited Earnings Call Summary

Earnings Call Date:Aug 25, 2025
(Q4-2025)
|
% Change Since: |
Next Earnings Date:Feb 24, 2026
Earnings Call Sentiment Positive
Nanosonics reported strong financial and operational results with significant revenue growth and product launches. Despite challenges like tariff impacts and slow progress in Japan, the company demonstrated robust strategic advancements and sustainability initiatives. The sentiment is slightly positive due to the outweighing impact of highlights over lowlights.
Q4-2025 Updates
Positive Updates
Strong Revenue Growth
Nanosonics achieved a 17% growth in revenue, reaching $198.6 million, which was at the top end of the upgraded guidance provided at the half year.
Increase in Recurring Revenue
Recurring revenue from consumables and services grew 20% to $146.1 million, driven by a 6% growth in cumulative installed base.
Improved Gross Profit Margin
The gross profit margin improved to 78.2%, reflecting strong operational performance.
Profit Before Tax Growth
Profit before tax increased by 72% to $22.3 million, demonstrating significant profitability improvement.
Launch of New Products
Nanosonics launched trophon3 and trophon2 plus, introducing cloud-based traceability and other enhancements.
CORIS FDA Clearance
The company secured FDA de novo clearance for CORIS, paving the way for future commercialization.
Sustainability Achievements
Nanosonics delivered on its commitment to source 100% renewable energy, leading to a 56% reduction in Scope 2 emissions.
Negative Updates
Tariff Impact on Gross Margin
The impact of tariffs is expected to reduce gross margin by approximately $4 million in FY '26, potentially lowering it to between 75% and 77%.
Challenges in Japanese Market
Progress in Japan remains slow despite some encouraging signs, affecting new installed base growth in the APAC region.
Increased Operating Expenses
Operating expenses increased by 10% to $138.7 million, with significant investments in R&D and new ERP systems.
Company Guidance
In the fiscal year 2025, Nanosonics reported a strong financial performance with a 17% increase in revenue, reaching $198.6 million, driven by a 20% growth in recurring revenue from consumables and service, totaling $146.1 million. The company achieved a gross profit margin of 78.2% despite a 10% increase in operating expenses to $138.7 million. The trophon business, with an installed base growth of 6% to 37,000 units, contributed significantly to this performance, with total unit sales of 3,870. Profit before tax surged by 72% to $22.3 million. Nanosonics also made strategic strides in innovation and operations, securing FDA clearance for CORIS, completing next-generation trophon technology, and expanding manufacturing capabilities both in Sydney and Indianapolis. The company achieved sustainability milestones, sourcing 100% renewable energy, and reducing Scope 2 emissions by 56%. Looking ahead, Nanosonics anticipates revenue growth for fiscal year 2026 to be in the range of $215 million to $223 million, driven by continued capital and recurring revenue growth, alongside mitigating tariff impacts through pricing strategies.

Nanosonics Limited Financial Statement Overview

Summary
Nanosonics Limited shows strong financial health with consistent revenue growth and solid balance sheet stability. Despite a decrease in net profitability and ROE, the company displays effective cash management and a robust equity position, mitigating potential financial risks.
Income Statement
85
Very Positive
Nanosonics Limited has demonstrated a consistent revenue growth trajectory with a 2.42% increase from 2023 to 2024. The Gross Profit Margin improved to 78.09% in 2024, indicating strong cost management. However, the Net Profit Margin decreased to 7.56% from 11.87% in 2023, mainly due to reduced EBIT Margin from 10.74% to 5.31%, reflecting increased operational expenses. Despite the decline in net profitability, the overall performance remains robust due to steady revenue growth.
Balance Sheet
80
Positive
The balance sheet of Nanosonics Limited shows a solid equity position with an Equity Ratio of 76.75% in 2024, indicating low leverage and financial stability. The Debt-to-Equity Ratio is favorable at 0.05, showcasing prudent debt management. ROE decreased to 7.12% from 12.14% in 2023, which suggests a decline in efficiency in generating profits from shareholders' equity. Nevertheless, the strong equity base mitigates potential risks, ensuring a healthy balance sheet.
Cash Flow
78
Positive
Cash flow analysis indicates stable cash generation, with a slight decrease in Operating Cash Flow from 2023 to 2024. The Free Cash Flow remained positive and increased slightly by 2.64% compared to the previous year, highlighting effective cash management. The Operating Cash Flow to Net Income Ratio is 1.76, demonstrating efficient conversion of income to cash. The company maintains strong liquidity, supporting its operational and strategic initiatives.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue183.97M198.93M171.56M167.51M119.73M101.83M
Gross Profit142.44M155.66M133.99M125.66M86.15M74.91M
EBITDA22.39M31.82M21.72M29.50M7.86M15.75M
Net Income16.56M20.68M12.97M19.88M3.74M8.58M
Balance Sheet
Total Assets255.03M272.48M237.34M226.07M193.24M164.57M
Cash, Cash Equivalents and Short-Term Investments144.48M161.29M129.55M112.16M94.51M96.03M
Total Debt9.17M7.69M9.30M10.72M11.71M2.49M
Total Liabilities66.00M62.57M55.14M62.22M54.55M29.01M
Stockholders Equity189.03M209.91M182.20M163.86M138.69M135.57M
Cash Flow
Free Cash Flow27.58M35.26M20.27M19.74M-271.00K5.93M
Operating Cash Flow34.93M43.98M22.78M23.31M6.70M7.32M
Investing Cash Flow-7.21M-8.71M-2.36M-3.54M-6.90M-1.38M
Financing Cash Flow-3.00M-3.30M-3.01M-2.71M-1.97M-1.03M

Nanosonics Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price4.53
Price Trends
50DMA
4.31
Positive
100DMA
4.16
Positive
200DMA
4.23
Positive
Market Momentum
MACD
0.08
Positive
RSI
54.22
Neutral
STOCH
38.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NAN, the sentiment is Positive. The current price of 4.53 is below the 20-day moving average (MA) of 4.55, above the 50-day MA of 4.31, and above the 200-day MA of 4.23, indicating a neutral trend. The MACD of 0.08 indicates Positive momentum. The RSI at 54.22 is Neutral, neither overbought nor oversold. The STOCH value of 38.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:NAN.

Nanosonics Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
AU$1.38B66.5210.32%15.60%58.74%
AU$114.71M9.4312.37%3.43%-0.74%16.65%
AU$151.77M24.8512.35%39.98%-30.04%
AU$255.32M-4.06%20.36%64.81%
AU$122.03M-27.30-4.28%7.38%82.39%
$7.86B-0.30-43.30%2.27%22.53%-2.21%
AU$81.13M-31.98%34.20%-23.90%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:NAN
Nanosonics Limited
4.53
1.31
40.68%
AU:SDI
SDI Limited
0.96
0.01
1.05%
AU:AHC
Austco Healthcare Limited
0.41
0.16
64.00%
AU:CYC
Cyclopharm Limited
0.67
-0.83
-55.33%
AU:TRJ
Trajan Group Holdings Ltd
0.80
-0.46
-36.51%
AU:ARX
Aroa Biosurgery Ltd
0.76
0.16
26.67%

Nanosonics Limited Corporate Events

Nanosonics Limited Announces Hybrid 2025 AGM to Boost Shareholder Engagement
Oct 3, 2025

Nanosonics Limited has announced its 2025 Annual General Meeting (AGM), which will be held as a hybrid event, allowing shareholders to participate either in person or online. This approach aims to increase accessibility and engagement, enabling shareholders to ask questions and vote in real time, reflecting the company’s commitment to transparency and stakeholder involvement.

The most recent analyst rating on (AU:NAN) stock is a Buy with a A$4.90 price target. To see the full list of analyst forecasts on Nanosonics Limited stock, see the AU:NAN Stock Forecast page.

Nanosonics Director Adjusts Equity Holdings
Sep 26, 2025

Nanosonics Limited announced a change in the director’s interest, specifically regarding Mr. Michael Kavanagh’s holdings. The change involved the exercise of performance and service rights under the Nanosonics Omnibus Equity Plan, resulting in the acquisition of 109,685 ordinary shares. This adjustment in the director’s holdings reflects the company’s ongoing commitment to aligning management interests with shareholder value, potentially impacting investor confidence and market perception.

The most recent analyst rating on (AU:NAN) stock is a Buy with a A$4.50 price target. To see the full list of analyst forecasts on Nanosonics Limited stock, see the AU:NAN Stock Forecast page.

Nanosonics Limited Issues New Securities Under Employee Incentive Scheme
Sep 26, 2025

Nanosonics Limited has announced the issuance of 289,148 ordinary fully paid securities, which will be quoted on the Australian Securities Exchange (ASX). This move is part of an employee incentive scheme, indicating the company’s commitment to rewarding and retaining its workforce, potentially strengthening its market position and operational capabilities.

The most recent analyst rating on (AU:NAN) stock is a Buy with a A$4.50 price target. To see the full list of analyst forecasts on Nanosonics Limited stock, see the AU:NAN Stock Forecast page.

Nanosonics Director Increases Stake in Strategic Move
Sep 22, 2025

Nanosonics Limited announced a change in the director’s interest, with Gerard Dalbosco acquiring an additional 12,558 ordinary shares, increasing his total to 40,000 shares. This transaction, valued at approximately $51,231.58, reflects a strategic move in the company’s governance, potentially impacting shareholder confidence and market perception.

The most recent analyst rating on (AU:NAN) stock is a Buy with a A$4.50 price target. To see the full list of analyst forecasts on Nanosonics Limited stock, see the AU:NAN Stock Forecast page.

Nanosonics Announces Board Changes with Dr. McIntyre’s Departure
Sep 4, 2025

Nanosonics Limited announced that Dr. Lisa McIntyre will not seek re-election and will step down from the Board on November 5, 2025. Dr. McIntyre has been a significant contributor to the company, particularly as Chair of the Innovation & Development Committee. Her departure prompts the company to begin a search for a new director. Dr. Larry Marshall will take over as Chair of the Innovation & Development Committee. This leadership change reflects Nanosonics’ ongoing commitment to innovation and maintaining strong governance.

The most recent analyst rating on (AU:NAN) stock is a Buy with a A$5.00 price target. To see the full list of analyst forecasts on Nanosonics Limited stock, see the AU:NAN Stock Forecast page.

Nanosonics Limited Reports Strong Earnings Amid Challenges
Sep 1, 2025

Nanosonics Limited’s recent earnings call reflected a slightly positive sentiment, underscored by robust financial and operational results. The company reported significant revenue growth and successful product launches, despite facing challenges such as tariff impacts and slow progress in the Japanese market. The strategic advancements and sustainability initiatives further contributed to the positive outlook.

Nanosonics Limited Reports Strong FY25 Growth
Aug 26, 2025

Nanosonics Limited, an Australian company, specializes in infection prevention technologies, particularly in the healthcare sector, with its flagship product being the trophon technology for ultrasound probe disinfection. In its 2025 annual report, Nanosonics highlighted a strong financial performance with a 17% increase in revenue, reaching $198.6 million, and a 72% rise in profit before tax to $22.3 million. The company’s growth was driven by a significant increase in recurring revenue and strategic investments in R&D and operational advancements. Key developments included the launch of the next-generation trophon3 and the FDA clearance for CORIS, a device for endoscope cleaning, which is expected to open new market opportunities. Looking ahead, Nanosonics is optimistic about continued growth, focusing on expanding its product portfolio and market presence while navigating global trade challenges.

Nanosonics Limited Reports Strong Financial Growth in 2025
Aug 26, 2025

Nanosonics Limited reported strong financial results for the full year 2025, showcasing a 17% year-over-year increase in total revenue to $198.6 million. The company’s recurring revenue, which includes consumables and services, grew by 20% to $146.1 million, highlighting the robustness of its business model. Capital revenue also saw a 9% increase, while the gross profit margin slightly improved to 78.2%. Operating expenses rose by 10%, but the consolidated profit before tax surged by 72% to $22.3 million, indicating a solid financial performance and positive outlook for stakeholders.

The most recent analyst rating on (AU:NAN) stock is a Buy with a A$5.15 price target. To see the full list of analyst forecasts on Nanosonics Limited stock, see the AU:NAN Stock Forecast page.

Nanosonics Reports Strong FY25 Results and Strategic Advancements
Aug 26, 2025

Nanosonics Limited reported a strong financial performance for FY25, with a 17% increase in total revenue to $198.6 million and a 72% rise in profit before tax. The company achieved significant milestones, including the launch of next-generation trophon technology and FDA clearance for its CORIS system, which is expected to enhance its market leadership and expand its portfolio. The company’s strategic investments in R&D and operational advancements, such as a new US manufacturing facility, are set to support future growth and shareholder value.

The most recent analyst rating on (AU:NAN) stock is a Buy with a A$5.15 price target. To see the full list of analyst forecasts on Nanosonics Limited stock, see the AU:NAN Stock Forecast page.

Nanosonics Limited Releases 2025 Annual Report Highlighting Sustainability and Product Updates
Aug 25, 2025

Nanosonics Limited has released its Annual Report for 2025, detailing its financial and operational performance over the past year. The report highlights the company’s commitment to sustainability and includes updates on its key products, trophon®2 and CORIS®. The release of this report is a significant event for stakeholders as it provides insights into the company’s strategic direction and operational priorities, which may influence its market positioning and future growth prospects.

The most recent analyst rating on (AU:NAN) stock is a Buy with a A$5.15 price target. To see the full list of analyst forecasts on Nanosonics Limited stock, see the AU:NAN Stock Forecast page.

Nanosonics Limited’s FY25 Sustainability Report: A Commitment to Infection Prevention and Sustainability
Aug 25, 2025

Nanosonics Limited’s Sustainability Report for FY25 highlights the company’s significant impact on infection prevention, having protected over 28 million patients from cross-contamination risks. The report outlines Nanosonics’ commitment to sustainability, detailing its performance and future targets, which are crucial for its operations and stakeholder engagement.

The most recent analyst rating on (AU:NAN) stock is a Buy with a A$5.15 price target. To see the full list of analyst forecasts on Nanosonics Limited stock, see the AU:NAN Stock Forecast page.

Nanosonics Limited Releases 2025 Corporate Governance Statement
Aug 25, 2025

Nanosonics Limited has released its corporate governance statement for the financial year ending June 30, 2025, which is accessible on their website. The statement outlines the company’s adherence to the ASX Corporate Governance Council’s recommendations, including board responsibilities, director appointments, and accountability measures, reflecting its commitment to transparency and robust governance practices.

The most recent analyst rating on (AU:NAN) stock is a Buy with a A$5.15 price target. To see the full list of analyst forecasts on Nanosonics Limited stock, see the AU:NAN Stock Forecast page.

Nanosonics Limited Reaffirms Commitment to ASX Corporate Governance Standards
Aug 25, 2025

Nanosonics Limited has released its Corporate Governance Statement, affirming its commitment to good corporate governance in line with the Australian Securities Exchange (ASX) guidelines. The statement outlines the company’s adherence to ASX Corporate Governance Principles and Recommendations, emphasizing the clear distinction of roles between the Board and senior executives, and the Board’s ultimate authority over management. This governance framework aims to enhance the company’s strategic implementation and performance oversight, benefiting all stakeholders.

The most recent analyst rating on (AU:NAN) stock is a Buy with a A$5.15 price target. To see the full list of analyst forecasts on Nanosonics Limited stock, see the AU:NAN Stock Forecast page.

Nanosonics to Announce FY25 Financial Results
Aug 7, 2025

Nanosonics Limited has announced that it will release its full-year 2025 financial results on August 26, 2025. The company will host a conference call and webcast for investors, led by CEO Michael Kavanagh and CFO Jason Burriss, to discuss the results. This announcement is significant as it provides stakeholders with an opportunity to gain insights into the company’s financial performance and strategic direction.

The most recent analyst rating on (AU:NAN) stock is a Sell with a A$4.00 price target. To see the full list of analyst forecasts on Nanosonics Limited stock, see the AU:NAN Stock Forecast page.

Nanosonics Gains FDA Clearance for Next-Gen Trophon Technology
Aug 6, 2025

Nanosonics Limited has received clearance from the US FDA for its latest trophon innovations, trophon3 and trophon2 Plus, allowing for their commercial launch in the US market. The new trophon3 technology offers over 40% faster cycle times, enhanced digital integration, and improved traceability capabilities, positioning it to expand Nanosonics’ presence in the hospital and private physician markets. This launch represents a significant upgrade opportunity for existing users of earlier trophon models, potentially driving substantial growth in the company’s installed base and setting a new standard in automated high-level disinfection.

The most recent analyst rating on (AU:NAN) stock is a Sell with a A$4.00 price target. To see the full list of analyst forecasts on Nanosonics Limited stock, see the AU:NAN Stock Forecast page.

UBS Group AG Acquires Substantial Stake in Nanosonics Limited
Jul 23, 2025

UBS Group AG and its related bodies have become substantial holders in Nanosonics Limited, acquiring a 5.01% voting power as of July 21, 2025. This acquisition involves various UBS entities exercising control over a significant number of ordinary shares, potentially impacting Nanosonics’ shareholder dynamics and signaling confidence in the company’s market position.

The most recent analyst rating on (AU:NAN) stock is a Sell with a A$4.00 price target. To see the full list of analyst forecasts on Nanosonics Limited stock, see the AU:NAN Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Oct 23, 2025