• Sales growth in all territories, meeting guidance
• Gross margin improvement and operating leverage
• Group EBITDA improvement in H2 FY25

Nova Eye Medical Ltd, an ASX-listed medical device company, has reported its financial results for the year ended 30 June 2025. The company achieved sales growth in all territories, meeting its guidance issued in February 2025. Sales (excluding China) grew by 24% to US$17.6 million, with the USA segment recording six consecutive halves of sales growth. Gross margin improved from 66% in H1 FY25 to 70% in H2 FY25 due to process improvements, while operating expenditure as a percentage of sales fell from 88% in H1 FY25 to 70% in H2 FY25, demonstrating operating leverage. The cash outflow from operations for FY25 was materially reduced to A$6.2 million from A$7.9 million in FY24, with the Q4 FY25 cash outflow at A$847,000, indicating a downward trend in operating cash burn. The company's glaucoma segment achieved a breakeven result in accordance with guidance, and the group's EBITDA improved by US$2.1 million in the second half compared to the first half.

FY26 sales revenue (excluding China) is expected to range between US$21 million and US$24 million (A$32 million to A$37 million at current exchange rates), and the group is currently expected to achieve breakeven EBITDA in H1 FY26.

The company expects continued sales growth and improved financial performance in FY26, with the group expected to achieve breakeven EBITDA in the first half of the year.