Nova Eye Medical Ltd
ASX:EYE
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Nova Eye Medical Ltd
Nova Eye Medical Ltd. engages in developing suite of novel ophthalmic treatment technologies. The company is headquartered in Adelaide, South Australia and currently employs 130 full-time employees. The firm is focused on developing, manufacturing and selling a portfolio of ophthalmic treatment technologies and devices. Its technologies include iTrack minimally invasive glaucoma surgery (MIGS), which is a consumable surgical device that restores the eye's natural outflow pathway to lower pressure inside the eye and to eliminate patients' reliance on anti-glaucoma medications for mild-moderate glaucoma. Its Molteno3 glaucoma drainage device platform is designed to manage surgical utility and optimize clinical outcomes for long-term intraocular pressure (IOP) control in cases of severe glaucoma. The firm's 2RT is an ophthalmic laser developed for the therapy of patients in the early to intermediate stages of age-related macular degeneration (AMD).
Nova Eye Medical Ltd. engages in developing suite of novel ophthalmic treatment technologies. The company is headquartered in Adelaide, South Australia and currently employs 130 full-time employees. The firm is focused on developing, manufacturing and selling a portfolio of ophthalmic treatment technologies and devices. Its technologies include iTrack minimally invasive glaucoma surgery (MIGS), which is a consumable surgical device that restores the eye's natural outflow pathway to lower pressure inside the eye and to eliminate patients' reliance on anti-glaucoma medications for mild-moderate glaucoma. Its Molteno3 glaucoma drainage device platform is designed to manage surgical utility and optimize clinical outcomes for long-term intraocular pressure (IOP) control in cases of severe glaucoma. The firm's 2RT is an ophthalmic laser developed for the therapy of patients in the early to intermediate stages of age-related macular degeneration (AMD).
Revenue Growth: Nova Eye reported trailing revenues of nearly $20 million, growing at more than 20%, though recent quarterly sales were slightly below plan due to slower expansion in some markets.
Record Sales Month: October 2025 was the biggest month in the company’s history for sales, with further color to be provided at the AGM.
China Approval: iTrack Advance received NMPA approval in China, opening a significant growth opportunity, though current investment there remains low.
Reimbursement Stability: U.S. Medicare professional fee rates for 2026 were confirmed as proposed, reducing reimbursement uncertainty.
Guidance Update: FY26 sales guidance is for $21–24 million with breakeven expected in FY26, slightly delayed from prior hopes due to sales timing and China lumpiness.
Clinical Validation: A new 24-month clinical study showed around 20% reduction in IOP and near elimination of medication, supporting further adoption.
Direct Sales Model: The company reiterated commitment to its direct sales force in the U.S. and Germany to drive margins and engagement, despite higher costs.
