Clinuvel Pharmaceuticals Limited (ASX:CUV)

CLINUVEL Pharmaceuticals announced that for the Australian financial year ended 30 June 2026 (FY2026) it achieved its tenth consecutive annual profit, reinforcing a strong balance sheet and providing funding for expansion in the United States. Revenue from ordinary activities was A$94.024 million, down 1% year on year, while total revenue including interest and other income was A$101.153 million, down 4%; expenses were broadly flat at A$53.493 million, net profit before tax fell 8% to A$47.660 million, and net profit after tax declined 6% to A$33.917 million, with the profit reduction largely attributed to unrealised foreign exchange losses on U.S. dollar term deposits. Cash reserves rose 12% to A$252.055 million, or would have reached about A$264 million absent A$12.2 million of prepaid income tax, supported by A$36.9 million in operating cash inflows and net assets of A$272.9 million. The company said record SCENESSE treatment volumes and European revenue growth offset softer U.S. sales caused by competitor free-drug offers to EPP patients and a shift by U.S. Specialty Centers to just-in-time inventory practices. Management emphasised that a decade of profitability, a 31% ten-year revenue CAGR, disciplined cost control, and in-house integration of key functions position CLINUVEL to self-finance diversification and North American expansion, while the board declared a fully franked annual dividend of A$0.05 per ordinary share, unchanged from the prior year and marking the ninth consecutive annual dividend.