• Group loss after tax of $3.365 million, an improvement from $5.394 million in H1 2024
• EBITDA-level loss of $2.204 million, down from $4.237 million in H1 2024
• Gross margin improved to 70% from 66% in H1 2024

For the six months ended 31 December 2025, Nova Eye Medical Limited recorded a group loss after tax of $3,365,000, compared to a group loss after tax of $5,394,000 in the six months to 31 December 2024. The loss before interest, tax, depreciation and amortisation (EBITDA-level loss) was $2,204,000 for the six months ended 31 December 2025, an improvement from the EBITDA-level loss of $4,237,000 in the six months to 31 December 2024. This improvement was driven by significant gross margin improvement and operating leverage. Gross margin improved to 70% from 66% in the six months ended 31 December 2024, reflecting improved production efficiency and pricing discipline. Operating expenses increased, however, operating expenditure as a percentage of revenue continued to decline. The operating expenditure increase primarily reflects higher variable sales commissions driven by revenue growth, continued investment in clinical data generation, expanded clinical training and commercial resources outside the United States, and additional regulatory activity, partly offset by ongoing cost-reduction initiatives.