I'm guessing that perhaps they think either it's going to get harder to keep hiring sales people and growing by the same % each year or that they will have captured the easiest part of the addressable market and they could convert distributed markets into direct sales. But I think that addressaable market is underestimated. Perhaps the best indicator is the number of publications about Novosorb. If revenue grows by 50% in 2025 and 2026 then we'd be at $225m not just $180m in 2026
Ann: Macquarie Australia Conference - Presentation, page-28
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