Nova Eye Medical Ltd · ASX:EYE
Nova Eye Medical — Q3 FY2025 Earnings Presentation
21 slides from Nova Eye Medical's earnings presentation, May 6, 2025
Slide 1: Nova Eye Medical Limited Investor Webinar
Nova Eye Medical Limited (ASX:EYE) Investor Webinar Selling highly effective products that eye surgeons want into a market that is large and growing – and delivering on promises nova-eye.com | 1 May 2025
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: 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 4: Treating glaucoma surgically
Treating glaucoma surgically • 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
Slide 5: iTrack 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 | 5
Slide 6: iTrack Advance
6 • 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 in
Slide 7: Highlights
Highlights • Strong Quarterly Performance • Q3FY25 sales reached US$4.7M, up 27% YoY and 16% QoQ (ex-China). • USA sales hit a record US$3.7M, up 32%. • YoY 12-month revenue to 31 March 2025 totalled US$17.8M (A$28.5M). • Improved Financial Efficiency • Glaucoma segment EBITDA loss reduced to US$30K
Slide 8: Revenue by Sales Territory
Revenue by Sales Territory Quarterly and 12 months revenue by sales territory compared with PCP Q3FY25 US $000’s Q3FY24 Q3FY25 growth 12 months to 12 months to on PCP 31 Dec 24 31 Mar 25(1) USA 2,777 3,673 32% 12,777 13,705 Germany 500 596 19% 1,720 1,773 ROW 402 406 1% 1,012 1,222 3,679 4,676 27% 1
Slide 9: Rolling average sales per month trending upward
Building Momentum: Rolling Average Sales Per Month Trending Upward Avg Monthly Sales based on rolling 3 months sales (US$/mth) 1,700,000 Cap Raise in 1,500,000 January Rolling avg sales/mth 1,300,000 1,100,000 900,000 700,000 500,000 Jan-25 Feb-25 Mar-25 Apr 25 + 1 • Management measures sales moment
Slide 10: USA sales momentum continues into April 2025
USA sales momentum continues into April 2025 USA: Avg Monthly Sales based on rolling 3 months sales (US$/mth) 1,200,000 1,100,000 USA rolling avg sales /mth 1,000,000 900,000 800,000 700,000 600,000 500,000 Jan-25 Feb-25 Mar-25 Apr 25 + 1 • New sales representatives recruited in March, mid-April and
Slide 11: Operating Results for Glaucoma Segment
Operating Results for Glaucoma Segment Glaucoma Segment Operating Result Q3FY25 and H1FY25 (unaudited) US$000 H1FY25 Q3FY25 Revenue 8,468 4,676 COGS (2,878) (1,232) Gross Margin 5,590 3,444 66% 74% Less operating expenditures (7,382) (3,474) EBITDA/(loss) glaucoma segment (1,792) (30) • Glaucoma seg
Slide 12: Progressing to Breakeven on Group Cash Flow
Progressing to Breakeven on Group Cash Flow Group cash outflow from operations (A$'000) 3,000 Cash Outflow Per Qtr (in A$000) 2,500 2,000 1,500 1,000 500 0 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 (Q1FY24) (Q2FY24) (Q3FY24) (Q4FY24) (Q1FY25) (Q2FY25) (Q3FY25) • Q3FY25 group cas
Slide 13: USA Manufacturing and Tariff Exposure
USA Manufacturing and Tariff Exposure • Made in the USA • All Nova Eye Medical products are manufactured in the United States. • US$13.7M (77% of sales) in the 12 months to 31 March 2025 were to US customers - unaffected by US tariff policy. • Export Markets and Tariff Impact • EU sales: US$3.0M (17
Slide 14: 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
Slide 15: Strategic Engagement and Market Activation
Strategic Engagement and Market Activation • High-Profile Conference Participation • Featured at 2025 American Glaucoma Society (AGS) (Washington, DC) and American Society of Cataract and Refractive Surgery (ASCRS) (Los Angeles, CA) Annual Meetings. • Showcased iTrack in 21 scientific contributions,
Slide 16: Key takeaways
Key takeaways • Nova Eye sells highly effective products that eye surgeons want into a market that is large and growing. • We have strengthened our balance sheet to pursue the opportunity. • The glaucoma division is expected to be profitable in the second half of FY25. • Revenue in H2FY25 (excluding
Slide 17: Additional Revenue Opportunities: iTrack Drug Delivery Potential
Additional Revenue Opportunities: iTrack Drug Delivery Potential • Expanding Use of iTrack • Proprietary microcatheter offers targeted drug delivery to ocular structures. • FDA-cleared for "fluid infusion or aspiration" - largely untapped indication. • Growing Strategic Interest and Market Opportuni
Slide 18: Responses to pre webinar questions
Responses to pre webinar questions nova-eye.com | 18
Slide 19: iTrack Global Data Registry (ITGDR)
iTrack Global Data Registry (ITGDR) • Multicenter cloud-based Patients N (%) Eyes n (%) database, prospective, Gender N 424 Male 203 (47.9%) Laterality multicenter, real-world study. Female 221 (52.1%) Left 204 (48.1%) • Patients with primary and Ethnicity Right 220 (51.9%) African/Caribbean 51 (12.
Slide 20: Clinically Significant Features of iTrack Advance vs Other MIGS
Clinically Significant Features of iTrack Advance vs Other MIGS Patient Implant- Preserves Device Company Procedure Natural Outflow Pathway Population free Tissue Trabecular Schlemm’s Collector Meshwork Canal Channels iTrackTM Nova Eye Mild-moderate Advance Medical Canaloplasty glaucoma Ne
Slide 21: 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 | 21