• Global sales up 39% to US$16.9 million
• USA sales up 48% to US$12.8 million
• Glaucoma segment on track to achieve breakeven in FY25

Nova Eye Medical reported a robust performance in Q4 2024, with global sales rising 39% (including 48% growth in the USA) compared to the prior corresponding period. This growth reflects the success of the company's direct sales force in the USA and early benefits of investments in international markets. Despite temporary supply chain challenges, the company demonstrated agility in overcoming these issues, with sales growth rebounding strongly in Q2 FY25. The glaucoma division is trending towards breakeven, with a significant improvement in EBITDA loss. The company also continues to reduce its cash outflow from operations, indicating progress towards achieving cash flow breakeven. Subsequent to the quarter, Nova Eye successfully completed a $6.6 million placement to fund sales team expansion in the US and Germany, product development, and working capital. The company provided FY25 revenue guidance (excluding China) of US$9-10 million for H2 FY25, and A$27.5-A$29.1 million for the full year, with the glaucoma division expected to achieve profitability in H2 FY25.

FY25 revenue (excluding China) expected between US$9 million and US$10 million for H2 FY25, and A$27.5 million and A$29.1 million for the full year. Glaucoma division expected to achieve profitability in H2 FY25.

The company has a significant opportunity to grow and expects continued material revenue growth in FY25 and beyond, driven by increasing adoption of the iTrack Advance product and expansion of its sales teams.