• Balance sheet strengthened through successful capital raise
• Robust global sales growth, up 39% year-on-year
• Temporary supply chain challenges resolved, leading to strong Q2 sales
• Glaucoma division expected to be profitable in H2 FY25

Nova Eye Medical Ltd (ASX:EYE) has presented its half-year financial report, showcasing several key highlights. The company has strengthened its balance sheet through a successful capital raise, with net proceeds of $3.9 million from Tranche 1 received on 6 February 2025 and Tranche 2 proceeds subject to shareholder approval on 19 March 2025. The company has also reported robust global performance, with sales rising 39% (in constant currency, including 48% in the USA) during the year to 31 December 2024 compared to the prior corresponding period. While temporary supply chain challenges in the first quarter of FY25 impacted sales growth, the resolution of these issues led to robust sales growth in the second quarter, exceeding both the first quarter and the prior corresponding period. Global sales in January 2025 were on plan and approximately 25% higher than January 2024. The company is reaffirming its guidance, with the glaucoma division expected to be profitable in the second half of FY25 and revenue in the second half of FY25 (excluding sales to China) expected to be between US$9 million and US$10 million. Sales to China were US$0.7 million in H1 FY25.

The glaucoma division is expected to be profitable in the second half of FY25. Revenue in the second half of FY25 (excluding sales to China) is expected to be between US$9 million and US$10 million. Sales to China were US$0.7 million in H1 FY25.

The company is reaffirming its guidance and expects the glaucoma division to be profitable in the second half of FY25. Global sales growth is expected to continue, with revenue in the second half of FY25 (excluding China) projected to be between US$9 million and US$10 million.