Nova Eye Medical ( (AU:EYE) ) just unveiled an update.
Nova Eye Medical reported strong financial performance for the first half of FY25, with a 27% year-over-year increase in global sales, driven by the iTrack™ Advance device. The company is on track for profitability in its glaucoma division by the second half of FY25, supported by a capital raise and strategic investments in sales expansion and operational efficiencies. Despite temporary production cost increases, gross margins are expected to stabilize, positioning Nova Eye Medical for continued growth and enhanced market penetration.
More about Nova Eye Medical
Nova Eye Medical Limited is a medical technology company specializing in the development, manufacturing, and sale of proprietary ophthalmic treatment technologies and devices. These include the iTrack™ Advance, a minimally invasive glaucoma surgical device, and the Molteno3® glaucoma drainage device platform. The company operates sales headquarters in Fremont, California, with manufacturing facilities in California and New Zealand, supported by a global distribution network.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $20.04M
For a thorough assessment of EYE stock, go to TipRanks’ Stock Analysis page.