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Nova Eye Medical ( (AU:EYE) ) has shared an update.
Nova Eye Medical reported significant growth in its global and U.S. sales for the year ending December 2024, with increases of 39% and 48% respectively. The company’s flagship product, iTrack™ Advance, has been instrumental in this growth, particularly in the U.S. market where it has driven five consecutive half-year revenue increases. Despite temporary supply chain challenges, the company achieved strong sales rebound and is on track to reach breakeven in its glaucoma segment by FY25. The company also reduced its cash outflow, indicating progress towards achieving cash flow breakeven. A successful $6.6 million placement will fund further expansion and product development.
More about Nova Eye Medical
Nova Eye Medical Limited is a medical technology company dedicated to developing advanced ophthalmic treatment technologies and devices, particularly focusing on solutions for glaucoma management. The company operates primarily in the U.S. market and other international territories, with a strong emphasis on direct sales and strategic marketing efforts to drive product adoption.
YTD Price Performance: 0.0%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $23.58M
See more data about EYE stock on TipRanks’ Stock Analysis page.
