Nova Eye Medical Ltd · ASX:EYE
Nova Eye Medical — Investor Presentation (January 2025)
26 slides from Nova Eye Medical's investor presentation, Jan 31, 2025
Slide 1: Nova Eye Medical Limited (ASX:EYE) Investor Presentation
Nova Eye Medical Limited (ASX:EYE) Investor Presentation January 2025 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: Capital Raise to Support Growth and Operational Resilience
Capital Raise to Support Growth and Operational Resilience • Nova Eye Medical is undertaking a capital raise to strengthen its financial position and support ongoing growth. This follows a temporary supply chain disruption in Q1 FY25, which has since been resolved. • Sales have resumed at good level
Slide 4: Company Overview
Company Overview Capital Structure Share Price Chart – Last 12 Months 6 $0.35 Millions ASX Code EYE 5 $0.30 Share Price (at 28 January 2025) $0.165 4 Shares on Issue 229M $0.25 3 Unlisted Options ~2.75M $0.20 2 Market Capitalisation $37.8M 1 $0.15 Cash at 31 December 2024 $2.1M 0 $0.10 Top 20 Shareh
Slide 5: Highlights
Highlights • Robust Global Performance • Global sales rose 39% (in constant currency including 48% in the USA) during the year to 31 December 2024 compared with the pcp. This shows continued penetration by our USA direct sales force and early returns on commercial investments in international market
Slide 6: Robust Revenue Growth Being Achieved
Robust Revenue Growth Being Achieved Group sales 3 years to 31 December 2024 (1) 18,000,000 45% 16,000,000 40% 14,000,000 39% 35% 12,000,000 30% Growth on PCP 10,000,000 25% US$ 8,000,000 20% 6,000,000 15% 16% 4,000,000 10% 11% 2,000,000 5% - 0% 12 mths Dec 22 12 mths Dec 23 12 months Dec 24 • Incre
Slide 7: USA Sales Continue to Grow
USA Sales Continue to Grow • Five consecutive half-year periods of growth in USA following USA sales growth H1FY23 to H1FY25 introduction of iTrack Advance in April 2023 (H2FY23). 7,000,000 • Growth continues into FY25. 6,000,000 • Continued revenue growth demonstrates surgeon take up 5,000,000 and
Slide 8: Revenue by Sales Territory
Revenue by Sales Territory Trailing Trailing 6 months to 6 months to Growth on Growth on US $000’s 12 months to 12 months to 31 31 Dec 23 31 Dec 24(1) PCP PCP 31 Dec 23 Dec 24(1) USA 5,050 6,477 28% 8,614 12,777 48% Germany 718 869 21% 1,355 1,720 27% China 315 710 125% 1,052 1,385 32% ROW 537 329 -
Slide 9: Supply Chain Resilience
Supply Chain Resilience • Problems with the supply of materials for production in the late in June 2024 and into Q1 FY25 gave rise to additional production costs and delays in product delivery to customers. • This negatively impacted sales in Q1 FY25. • Investigations identified the cause of the pro
Slide 10: Progressing to Breakeven on Group Cash Flow
Progressing to Breakeven on Group Cash Flow Group cash outflow from operations(1) 3,000 Cash Outlow in A$000s per qtr 2,500 2,000 1,500 1,000 500 - Qtr ended Sept 23 Qtr ended Dec 23 Qtr ended Mar 24 Qtr ended Jun 24 Qtr ended Sep 24 Qtr ended Dec 24 (Q1FY24) (Q2FY24) (Q3FY24) (Q4FY24) (Q1FY25) (Q2F
Slide 11: Growth Metrics in Markets with Direct Sales Channels
Growth Metrics in Markets with Direct Sales Channels Annualised Field sales Annualised revenue per revenue per rep Team Growth Proposed Sales Team representatives at rep (weighted average) (weighted average) planned Totals 31 December 2024 six months to June 2024 12 months to December 2024 USA 11(1)
Slide 12: USA Reimbursement Update
USA Reimbursement Update • Surgeries with iTrack continue to attract the established CPT1 reimbursement code from US Medicare (CMS). • In most USA states(1) from December 2024 MAC’s (Medicare Administrative Contractors) reduced reimbursement payments of stents used in for combination with MIGS proce
Slide 13: USA Market Share Estimate - iTrack
USA Market Share Estimate - iTrack Reported revenue (US$m) Market Share +6.4% (5) $382.0m +32% +55% YoY $359.0m iTrack gaining growth (4) $200.0m market share $200m in a growing 60% US market 52.4% $152.0m 50% $150m 42.3% $124.7m +4.5% 40% 34.7% (3) $100m (2) $92.3m $77.6m 30% $74.3m 23.8% 20.7% 20.
Slide 14: Operating Results for Glaucoma Segment Shows Positive Trends
Operating Results for Glaucoma Segment Shows Positive Trends Glaucoma Segment Global Sales and EBITDA USD ‘000 H1FY23 H2 FY23 H1FY24 H2FY24 10,000 Sales global 5,698 5,575 6,673 8,565 8,000 6,000 GM 3,305 4,243 4,604 6,262 4,000 58% 76% 69% 73% 2,000 - Opex (6,057) (5,491) (6,193) (6,530) (2,000) (4
Slide 15: Positive Glaucoma Operating Results Drive Group Results
Positive Glaucoma Operating Results Drive Group Results 15,000 Group Sales and EBITDA in AUD 10,000 5,000 - (5,000) (10,000) A$'000's H1FY23 H2FY23 H1FY24 H2FY24 Sales glaucoma Group EBITDA (loss) AU$'000's H2FY24 AU$'000's H1FY23 H2FY23 H1FY24 H2FY24 Glaucoma segment (451) AlphaRET segment (268) Sa
Slide 16: FY25 Guidance
FY25 Guidance • Demand for the Company’s products in the six months to 31 December 2024 was strong. Production supply chain challenges during the three months to 30 September 2024 limited revenue growth in Q1FY25. • Following a recovery of sales in the three months to 31 December 2024 and based on c
Slide 17: Details of the Offer
Details of the Offer ▪ EYE is seeking to raise approximately A$6.6 million by way of a Placement of 55.0 million shares (“Securities”) to sophisticated and professional investors (the "Offer“ of the “Placement”). ▪ The Placement will take place under a two-tranche structure. Placement o Tranche one
Slide 18: Summary and Use of Funds
Summary and Use of Funds • Selling highly effective products to a large and growing market segment that the market demand. • Sustained Sales Momentum: Strong sales growth trend continues demonstrating resilience and market demand. • Trending Towards Profitability: The glaucoma segment is trending to
Slide 19: Timetable
Timetable Offeror Trading Halt Wednesday, 29 January 2025 Placement Offer Opened Wednesday, 29 January 2025 Placement Bookbuild Closed Wednesday, 29 January 2025 Confirmation Letters Sent Thursday, 30 January 2025 Signed Acceptance Forms Returned Thursday, 30 January 2025 Trading Halt lifted and ret
Slide 20: Tom Spurling Mark Flynn
Tom Spurling Mark Flynn Managing Director Investor Relations +61 8 8362 0193 +61 416 068 733 tspurling@nova-eye.com mflynn@nova-eye.com nova-eye.com | 20
Slide 21: What is Glaucoma?
What is Glaucoma? • Glaucoma is the second leading cause of blindness in the developed world (behind cataracts)(1) with no cure. • The body produces a protein rich liquid that circulates through the ocular structures to keep it healthy. • Glaucoma is a failure of the eye’s natural outflow system thr
Slide 22: Glaucoma Treatment Overview
Glaucoma Treatment Overview • Traditional medication treatment paradigm is chronic medication use which causes eye damage limiting future treatment options. Patient adherence to glaucoma medications is poor • Patients and surgeons are favouring(1) minimally invasive glaucoma surgery (MIGS) earlier i
Slide 23: iTrack Advance
2 3 • iTrack Advance Single-use 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
Slide 24: iTrack(TM) Advance - Angioplasty of the Ocular System
iTrack(TM) Advance - Angioplasty of the Ocular System • Clearing blockages and rejuvenating the eye’s natural outflow pathways that have been compromised by glaucoma disease. nova-eye.com | 24
Slide 25: Clinically Significant Features iTrack Advance vs Other MIGS
Clinically Significant Features iTrackTM Advance vs Other MIGS Patient Implant- Preserves Device Company Procedure Natural Outflow Pathway Population free Tissue Trabecular Schlemm’s Collector Meshwork Canal Channels iTrackTM Mild-moderate Advance Nova Eye Medical Canaloplasty glaucoma ✓ ✓ ✓ ✓ ✓ KDB
Slide 26: Nova Eye Glaucoma Surgical Device Sales Model
Nova Eye Glaucoma Surgical Device Sales Model Canaloplasty surgery has a well-established CPT1 code authorised by the USA CMS2 Eye surgeon selects Nova Eye delivers the The operating notes are submitted to Nova Eye product. product to the Facility and Medicare Administrative Contractor invoices the
Nova Eye Medical — Investor Presentation (January 2025) on 6ix