Zeus, it is always wise to check your understanding of the numbers before you attempt to bag someone about their grasp of the numbers, in this case accusing the CEO of not having a grasp of the market.
As it turns out you have completely misread the investor presentation that you refer to. Go to the slide labelled ‘Novosorb Will Disrupt Several Attractive Addressable Markets’ and more carefully read the ‘Source’ information at the bottom of the slide. If you do, you will see that the following is the correct rendering of the data.
Hernia/ other reconstruction global procedures number 890,000 not 8.9 million
— for a TAM of $2.3B each procedure is worth $2,584.
Breast reconstruction global procedures number 155,000 not 155 million
— for a TAM of $1B each procedure is worth $6,450.
For anyone who hasn’t read this presentation material it is well worth eyeballing. You will see why the new CEO is very ambitious for the company.
Trading update Q3 FY23, page-62
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