The Lateral Flow blood market is worth over US $4.57B which has grown substantially this year. Atomo are selling everything they are currently making and the challenge is order fulfilment from the supply side.
By the end of January Atomo are on track to be manufacturing 15.6M units for Gallileo per year (1.3M per month) plus 5-6 million for Pascal capacity. Total capacity will be over 20 million annualised.
Their recent presentation states they sold 1.57 million for a total of $5.3M revenue implying revenue of $3.40 per device.
I believe they will move this number closer to $4-5 per device with their revenue share agreement for North America and as Gallileo (COVID device) takes more of their product mix. Profitability will also increase with economies of scale.
So yes a share price over $1 is very achievable in the medium term as revenue surges and EPS increases.
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