• Strong performance in the US and Germany, with sales growth of 32% year-over-year
• Proposed Medicare reimbursement rates for 2026 expected to provide continued incentive for doctors to use iTrack Advance
• FY26 sales revenue guidance of US$21-24 million, with expected EBITDA breakeven in H2FY26

Nova Eye Medical Ltd, a leading provider of minimally invasive glaucoma surgical devices, provided an investor webinar update covering the quarter ended 30 September 2025. The company reported a creditable performance, with sales growth of 32% year-over-year in its direct markets of the US and Germany. This growth was slightly below expectations due to the impact of the summer months on surgery volumes and slower-than-expected commercial expansion in the southeastern US and Canada. The company highlighted the publication of an important new clinical paper on its iTrack Advance device, which demonstrated high safety and sustained IOP control over 24 months. The company also noted that the proposed Medicare reimbursement rates for 2026, if finalized, would continue to provide a strong incentive for doctors to use iTrack Advance.For the full year ended 30 September 2025, Nova Eye Medical reported sales of US$19.3 million, up 21% year-over-year. The company's direct sales channels in the US and Germany accounted for 89% of this revenue, equating to approximately US$1.3 million per salesperson across the two geographies.Looking ahead, the company provided FY26 guidance, expecting sales revenue (excluding China) to range between US$21 million and US$24 million. The company also expects to achieve EBITDA breakeven in the second half of FY26, though the exact timing may be impacted by the size and timing of sales into China.The company also provided an update on its drug delivery opportunity, noting that it is still work in progress and the company will continue to explore potential partnerships. Additionally, the company discussed its working capital facility, which provides non-dilutive funding to support the growth of its business.

FY26 sales revenue (excluding China) expected to range between US$21 million and US$24 million (A$32 million to A$37 million at today's exchange rate). The group is currently expected to achieve breakeven EBITDA in FY26, with the expectation of breakeven in H2FY26 rather than H1FY26 due to below-plan sales in Q1FY26.

The company's primary focus is on growing revenues and improving the bottom-line performance of its interventional glaucoma business. The company will continue to work with potential partners on its drug delivery opportunity and utilize its working capital facility to support the growth of the business.