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EYE - Nova Eye Medical

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No news from management, but quite a bit of volatility in the share price this month. Must be due soon for some news about sale results of iTrack Advance.
 
No news this month and subsequently has kept going backwards. Hopefully a bit of news next month on sales for this last quarter.
 
Updated their sales results this morning with record results in FY24
FY24 glaucoma segment sales up 37% to US$15.3 million compared to pcp•
FY24 USA Sales up 73% to US$11.4 million compared to pcp•
2H FY24 USA Sales up 77% compared to pcp•
Fourth consecutive half-year of revenue growth in the USA•
Additional sales specialists recruited in the USA, materially improving geographic coverage.•
Material improvement in glaucoma segment operating result in H2FY24 expected.•
Last quarter sales demonstrate an annualised revenue run rate of approximately US$18 million (A$27.7 million)
 
Annual report did not help the share price. Despite the 37% lift in sales costs have also gone up which was to be expected with the increase in salesman. Biggest positive in the report was the proposed lift in reimbursement for canaloplasty in the new year by 30%.
 
We got the update on growth this month, which was pretty good at 32%, however costs to get this growth has also gone up and they are still cash flow negative. They did predict they will be positive for fy25 so we might see a few better quarters ahead. Still going backwards in price.
 
Has been very disappointing share price performance for the year. Despite the Agm bringing more positive news of increased sales, the threat they may have to raise is keeping the price down.
 
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