Nova Eye Medical Lifts FY26 Sales Forecast After US April Sales Record
Nova Eye Medical has smashed its US sales record in April 2026, prompting an upgrade to its FY26 sales guidance and marking a milestone with positive operational EBITDA.
- April 2026 US sales set new monthly record
- Group trailing twelve-month sales up 26%
- FY26 sales guidance (ex-China) raised to US$22-23 million
- Positive EBITDA from operations reported in Q3 FY26
- US interventional glaucoma market remains supportive
April Sales Surge Sparks Guidance Upgrade
Nova Eye Medical (ASX:EYE) has surged past its previous US sales record in April 2026, setting a new monthly high that eclipsed the March 2026 benchmark. This momentum underpins the company’s decision to raise its FY26 sales guidance (excluding China) to between US$22 million and US$23 million, up from the prior US$21 million to US$22 million range. The upgrade reflects a robust performance with trailing twelve-month sales (ex-China) reaching US$21.6 million, a 27% increase on the previous period.
Driving this growth is the US market, which contributed US$17.76 million in trailing sales, up 28% year-on-year. This region accounts for over half of Nova Eye Medical’s global revenue and is buoyed by an expanding interventional glaucoma sector growing at 8% annually. The company’s sales reps in the US have delivered annualised revenue of approximately US$1.6 million each in Q3 FY26, maintaining a steady compound quarterly growth rate of about 6% over the past 18 months. April’s record sales extend this positive trend, signalling sustained demand for the company’s iTrack™ Advance and Molteno3® devices in a competitive landscape.
Operational EBITDA Milestone and Market Dynamics
Alongside sales growth, Nova Eye Medical reported its first positive EBITDA from operations in Q3 FY26, amounting to US$138,000. This milestone indicates improving operational efficiency and cost management as the company edges closer to profitability. The positive EBITDA follows a period of narrowing losses and rising sales, as highlighted in the company’s recent quarterly activities report. The US market’s supportive conditions, with approximately 32 million cataract surgeries annually and a significant overlap with glaucoma patients, underpin the demand for minimally invasive glaucoma treatments that Nova Eye Medical specialises in.
Globally, the company’s group trailing twelve-month sales rose 26% to US$22.8 million, with solid growth in Germany and the rest of the world complementing the US performance. Sales in China, while smaller at US$1.18 million, also showed an 11% increase, reflecting the early stages of market penetration following regulatory approvals. The company’s manufacturing footprint in Fremont, California, and Dunedin, New Zealand, supports this global distribution network.
Nova Eye Medical’s FY26 sales upgrade follows a series of strong quarterly performances, including a 23% sales increase reported just days earlier, and a record US$6.1 million quarter earlier in the year. These results build on the company’s strategic push into the US market and the recent launch of new product features, such as green illumination for the iTrack™ device, which have helped sustain sales momentum in a competitive sector.
Bottom Line?
Sustained US sales momentum and operational profitability mark a turning point, but maintaining growth outside China and managing costs remain key challenges.
Questions in the middle?
- Can Nova Eye Medical sustain its US sales growth beyond FY26?
- How will competition in the interventional glaucoma market impact future sales?
- What is the potential upside from expanding sales in China and other emerging markets?
