Nova Eye Medical (ASX: EYE) has significantly upgraded its FY26 sales guidance, excluding China, to US$22-23 million from its previous US$21-22 million range.
This upgrade follows a new US monthly sales record achieved in April 2026 that surpassed the prior record set in March 2026.
The company's group trailing twelve-month (LTM) sales reached US$22.8 million as at 30 April 2026, marking a substantial 26% year-over-year increase.
The US market continues to be a strong performer, with sales demonstrating consistent growth at a 6% compound quarterly rate over the last six quarters.
First Positive EBITDA Achieved
A significant milestone was reached in Q3 FY26 as Nova Eye Medical reported its first positive EBITDA from operations, totalling US$138,000.
This achievement aligns with the company's previously stated objective to target breakeven EBITDA in H2 FY26.
In Q3 FY26, the annualised revenue generated per US sales representative stood at approximately US$1.6 million on a weighted average basis. This reflects strong productivity within its sales force.
These recent results build on a period of improving financial performance for the company.
In H1 FY26, Nova Eye Medical reported revenues up 29% to A$16.7 million, with a notable improvement in gross margin to 70%.
Previous reports highlighted narrowing EBITDA losses and gains in operational efficiency, contributing to the positive EBITDA now achieved, with the company previously reaffirming its FY26 sales guidance and setting a target for breakeven EBITDA in H2 FY26.
Funding and Execution Risks Remain
Despite the positive momentum, Nova Eye Medical continues to navigate inherent risks.
Previous reports disclosed a material uncertainty regarding its going concern status, which is dependent on generating sufficient cash inflows and meeting sales forecasts.
Contingency plans, including potential equity raising or expenditure reductions, could pose dilution risks for shareholders.
Furthermore, the upgraded guidance explicitly excludes China sales and relies on continued trading momentum, meaning any slowdown in the coming months could pressure financial outcomes.
