Nova Eye Medical Ltd · ASX:EYE
Nova Eye Medical — Investor Presentation (August 2024)
16 slides from Nova Eye Medical's investor presentation, Aug 26, 2024
Slide 1: Investor Presentation: Results for the Year ended 30 June 2024
Investor Presentation Results for the Year ended 30 June 2024 Nova Eye Medical Limited (ASX:EYE) August 2024 nova-eye.com | 1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Nova Eye Medical Limited (ASX: EYE). While the information in this presentation has been prepared in good faith and with reasonable care, no representation or warranty, express or implied, is made as to the accuracy, adequacy or reliability of any st
Slide 3: Highlights of FY24
Highlights of FY24 Best performance, top and bottom line, in the history of Nova Eye • FY24 group sales A$23.3 million, up 35% compared to pcp in constant currency. Notably, sales in the USA surged by 71%, reaching US$11.4 million (A$17.3 million) • Group EBITDA loss of A$5.7 million for FY24 has im
Slide 4: Large unmet need in glaucoma
Large unmet need in glaucoma The Glaucoma Opportunity Remains Strong • 131 million(1) people with glaucoma worldwide with US$5.7 billion(1) annual expenditure of which 92%(1) is spent on medications and devices. Market for surgical devices is US$772 million(2) and forecast to reach US$1,560(2) milli
Slide 5: Glaucoma Treatment Overview
Glaucoma Treatment Overview • Traditional medication treatment paradigm is chronic medication use causes eye damage limiting future treatment options. Patient adherence to glaucoma medications is poor • Patients and surgeons are transitioning(1) Approx 50% of patients are non-compliant with from med
Slide 6: Nova Eye Current iTrack Product Portfolio
Addressing disease progression iTrackTM Advance (mild to moderate) Glaucoma Nova Eye Current iTrackTM Product Portfolio (mid stage) Molteno3 (Severe and Complex) nova-eye.com | 6
Slide 7: iTrack Advance
7 • iTrack Advance consumable MIGS device is redefining the treatment of glaucoma in its early stages. • Canaloplasty offers a stent-free, tissue-preserving surgical treatment for glaucoma using an injector technology • Injector technology has enhanced our original iTrack which has now been used in
Slide 8: Clinically Significant Features iTrack Advance vs Other MIGS
Clinically Significant Features iTrackTM Advance vs Other MIGS Designed to reduce the elevated IOP associated with glaucoma by improving trabecular flow through the natural outflow pathway. Patient Implant- Preserves Device Company Procedure Natural Outflow Pathway Population free Tissue Trabecular
Slide 9: FY24 Global Sales in US$
FY24 Global Sales in US$(1) Growth on Channel (H1FY24 channel %) FY23 H1 FY24 H2FY24 FY24 PCP US Dollars ‘000’s USA (direct) 6,647 5,050 6,322 11,383 71% Germany (95% direct 5% distributor) 1,513 718 913 1,631 8% Rest of world (10% direct 90% distributor) 1,327 590 638 1,228 -7% China (distributor)
Slide 10: Key USA growth metrics
Key USA growth metrics Annualised revenue per Annualised Field team at Growth in USA Field rep (weighted average) Field team 30 revenue per rep 31 December revenue per sales six months to December June 2024 (weighted average) six 2023 rep 2023 months to June 2024 Sales 7)1) US$1.29m 11(1) US$1.51m 1
Slide 11: Operating Results FY24 – Glaucoma
Operating Results FY24 – Glaucoma (US$)(1) FY23 H1 FY24 H2 FY24 FY24 USA dollars (’000’s) Revenue 11,273 6,673 8,565 15,238 GM 7,548 4,604 6,262 10,866 67% 69% 73% 72% Operating expenditure (11,548) (6,193) (6,530) (12,723) EBITDA (loss) (4,000) (1,589) (268) (1,857) Working capital $1,150 $1,445 $3
Slide 12: Reported Operating Results By Segment FY24
Reported Operating Results By Segment FY24 – A$ FY23 FY24 Australian dollars (‘000’S) Group Glaucoma AlphaRET Corporate Group Glaucoma AlphaRET Corporate Group Revenue 16,661 364 17,025 23,158 168 23,325 GM 11,392 323 11,715 16,729 91 16,820 68% 72% Operating (17,676) (1,364) (2,225) (21,265) (19,68
Slide 13: USA reimbursement update - CMS
USA reimbursement update - CMS Proposed rate in 2025 tabled by Center for Medicare and Medicaid (CMS) • On 10 July 2024 CMS announced canaloplasty was designated a “device intensive procedure” and has proposed an increase in reimbursement. • The proposal is expected to be finalised before the end of
Slide 14: USA reimbursement update - MACs
USA reimbursement update - MACs Draft Local Coverage Determinations (LCD) from Medicare Administrative Contractors • Draft LCDs proposed on 30 May 2024 by 5 out of the 7 MACs that stents in combination with a surgical MIGS procedure in the same patient eye, at the same time, will not be reimbursed.
Slide 15: Summary and Outlook
Summary and Outlook Substantial sales growth along with improvement in the operating result was foreshadowed in February 2024 is being delivered. • The expansion of the USA sales team in the second half along with the improvement in productivity of the USA sales team is expected to result in continu
Slide 16: Tom Spurling, Kate Hunt, Mark Flynn
Tom Spurling Kate Hunt Mark Flynn Managing Director Chief Commercial Officer Investor Relations +61 8 8362 0193 +61 404 080 679 +61 416 068 733 tspurling@nova-eye.com khunt@nova-eye.com mflynn@nova-eye.com nova-eye.com | 16
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