monash ivf profit falls despite revenue rise

Monash IVF (ASX:MVF) reported a net profit of $25.7M, despite revenue rising 6.7% to $271.9M. Underlying NPAT decreased by 8.1%. The board elected to withhold a dividend for the period. The decrease in underlying NPAT reflects a challenging market. The domestic IVF business saw a 5.0% decrease in stimulated cycles. International volumes were impacted by macro conditions in Malaysia and Singapore. Additional contextual information supports and elaborates on the key facts. The clinic infrastructure investment program over the last 5 years is nearing completion, with the last new flagship site to be completed in 2H26. Other financial metrics included net finance costs which increased to $7.3M. This was $2.0M higher than the prior year. This increase was driven by higher average borrowing levels and higher non-cash interest expense. The FY26 Underlying Group NPAT is expected to be between $20.0M and $23.0M, compared to $27.4M in FY25. This reflects lower domestic IVF new patient registrations and deferral of indexation related IVF patient price increases.

The decrease in underlying NPAT reflects a challenging market. The domestic IVF business saw a 5.0% decrease in stimulated cycles. International volumes were impacted by macro conditions in Malaysia and Singapore.

Additional contextual information supports and elaborates on the key facts. The clinic infrastructure investment program over the last 5 years is nearing completion, with the last new flagship site to be completed in 2H26.

Other financial metrics included net finance costs which increased to $7.3M. This was $2.0M higher than the prior year. This increase was driven by higher average borrowing levels and higher non-cash interest expense.

The FY26 Underlying Group NPAT is expected to be between $20.0M and $23.0M, compared to $27.4M in FY25. This reflects lower domestic IVF new patient registrations and deferral of indexation related IVF patient price increases.