Ann: USA Sales Update, page-52

We actually would have recorded pretty close to breakeven in the previous half year. In FY23 we recorded an EBITDA loss (which removes the large one off non cash expense) of only -$8.6m with revenue of $17,000,000. That was a significant improvement of 45% compared to the previous year. Even more though, in the first half of FY23 they recorded a loss of -$5.9m. That means the EBITDA loss in the second half of FY23 was only -$2.7m, on revenue of around $8.7m. As is evident, there has actually been a significant improvement in EBITDA over the past few halves since approval, and so I would not be surprised at all if the company surprises the market with an early profit. Of course, the market is confused by the NPAT figure, which is distorted by the large non cash expense, but the results released in Feb, and of course the full year figure in June/July should clarify to the market just how strongly EYE is performing.