Nova Eye Medical has reported a record A$28.8 million in revenues for FY25, driven by strong US sales and sustained growth of its flagship iTrack™ Advance device.
- FY25 revenues hit A$28.8 million, up 21% in constant currency
- US sales grew 25%, marking six consecutive half-years of growth
- Q4FY25 sales reached a record A$8.4 million
- H2FY25 sales surged 46% year-on-year in constant currency
- Company expects continued revenue growth in FY26
Record Revenue Milestone
Nova Eye Medical Limited (ASX:EYE) has announced a landmark financial year, posting record revenues of A$28.8 million for the year ended 30 June 2025. This represents a robust 21% increase in constant currency terms compared to FY24, underscoring the company’s growing footprint in the competitive ophthalmic medical device market.
US Market Driving Growth
The standout contributor to this performance was the United States, where sales reached US$14.2 million; up 25% year-on-year. This marks six consecutive half-years of growth for Nova Eye’s flagship product, the iTrack™ Advance, a minimally invasive glaucoma surgical device designed to restore natural eye pressure regulation and reduce reliance on medications.
In particular, the second half of FY25 saw sales of A$15.7 million (US$10 million), a 46% increase on the prior corresponding period, reflecting accelerating adoption of the technology among eye surgeons. The company’s Q4FY25 sales of A$8.4 million were the highest quarterly figure ever recorded, signaling strong momentum heading into the new fiscal year.
Technology and Market Position
Nova Eye’s portfolio also includes the Molteno3 glaucoma drainage device, aimed at severe glaucoma cases, which complements the iTrack™ Advance by offering surgeons a simplified and faster surgical option. The company’s manufacturing footprint spans Fremont, California, and Dunedin, New Zealand, supported by a global distribution network that continues to expand.
Outlook and Investor Engagement
Looking ahead, Nova Eye Medical expects revenue growth to continue into FY26, buoyed by ongoing market acceptance and technological innovation. The company plans to release its Quarterly Activities Report and audited financial statements in the coming months, providing further clarity on profitability and operational metrics.
Investors are invited to join an upcoming webinar hosted by Managing Director Tom Spurling on 9 July 2025, where the record sales results and strategic outlook will be discussed in detail, offering a valuable opportunity for direct engagement and insight into the company’s trajectory.
Bottom Line?
With sustained US momentum and record sales, Nova Eye Medical is poised for further growth, but investors will watch closely for profitability details.
Questions in the middle?
- How will Nova Eye Medical translate revenue growth into profitability in FY26?
- What impact will competitive pressures in the glaucoma device market have on future sales?
- How will the company leverage its global distribution network to sustain momentum outside the US?