Ann: Appendix 4C and Business Activity Report, page-10

Just had time to read through the whole statement. A few key points for me were:

-5% increase to US ECPs (Eye Care Professionals) from Q1Fy 21 (last year). Importantly, this was the last quarter not materiallyimpacted by the COVID-19 pandemic
-Net revenue for Q1FY21 was US$1.6m (A$2.1M), up 11% from Q4 FY20 and up 18% from Q1 FY20
-VTI affirms itsforecast of US$7.0m for the year,
-Active US Accountsincreased 4% qoq and increased 2% from the pcp to 2,165 accounts in Q1 FY21,and the Repeat Customer Rate in Q1 FY21 was 98.9%

-Gross profit marginslightly lower due to increased logistics. The cost of shipping product fromthe Company’s manufacturer in Taiwan has increased in recent quarters due topandemic-related capacity constraints in global shipping, resulting in higher per-unitlogistics costs in the quarter. The Company expects elevated shipping andlogistics costs to remain into at least the middle of FY21 before normalizing.

The Company receivedUS$16.0m in net proceeds from the Placement in March 2021 and expects toreceive an additional $0.6m in April 2021 from the SPP. Currently 16.5m USDcash on hand. 8.7 Qtrs of funding left

launch of NaturalVueMF in Canada. The launch remains on track, with this initial phase being thequalification, opening, and training of new accounts.

discussingcollaborations for entering the China market with potential partners. VTI hasdecided to maintain ownership and control of its intellectual property. Nextstep: a clinical trial and obtaining registration with the Chinese government

Company expects itspartners outside North America to return to growth. For example, VTI expectsits partner for Europe, Menicon, to continue to launch Europe-wide the MeniconBloom Myopia Control Management System, which includes VTI’s soft contact lensfor myopia control.


Sentiment changed: Ive brought in this morning.