• Record FY25 revenue of A$29.3 million, up 23% on prior year
• FY25 USA sales up 26% on prior year, with six consecutive half-years of growth
• Glaucoma segment EBITDA positive in H2FY25, with Group loss materially reduced

Nova Eye Medical Limited (ASX: EYE) has announced audited FY25 results, achieving record revenue of A$29.3 million (US$18.8 million), representing 23% growth on the prior year. This reflects continued adoption of the iTrack™ Advance device in all sales territories. The company's FY25 result demonstrates that the group is nearing EBITDA positive, validating the strength of its business model. Second-half sales of A$16.2 million were up 51% (constant currency) on the prior corresponding period, and US sales delivered six consecutive half-years of growth, with FY25 revenue of US$14.2 million, up 26% on the prior year. There was overall sales growth of 23% across all territories. Gross margin improved in H2 over H1, and operating expenditure as a percentage of sales was reduced in H2FY25, demonstrating operating leverage. The second-half EBITDA loss reduced by A$2.9 million compared with H1, reflecting sales growth, margin improvement, and disciplined expenditure. The glaucoma segment was EBITDA positive in accordance with guidance. Cash outflow from operations for FY25 was A$6.2 million, reduced from A$7.9 million in FY24, and cash at bank was A$5.1 million as at 30 June 2025.

FY26 sales revenue (ex-China) of US$21 - 24 million (A$32 - 37 million) and targeting breakeven EBITDA in H1FY26.

The company reaffirms its FY26 guidance, with July sales in line with targets and ongoing improvement in operating cashflow.