Just came across this announcement from the company in relation to the ASCRS conference which is approaching very soon, seems like
@StealthInvest did as well! As a reminder, this is the conference where they launched iTrack Advance last year. I was blown away by the size of their presence this year, significantly larger than anything I’ve seen from them before, and therefore believed that this announcement from the company (which was released on their website but not to the market) warranted its own separate thread. They’re going all out here, making sure every doctor out there knows about how great iTrack Advance is. There will be several large instructional courses as well which will deliver large batches of fresh customers trained in how to use this device. At the 2023 conference there were none of these courses, so clearly this indicates significant interest by non-existing customers to have a see for themselves what all the fuss around iTrack Advance has been about.
This conference obviously marks one year for iTrack Advance in the USA. To me it seems the past year was a trial, the company was “testing the water” to gauge the level of interest for the device. The company knew the changes made to the device were significant, but they wanted to see how strong the uptake would be before going all out on the promotional campaign. I’m guessing the past "trial" year significantly exceeded their expectations, especially considering they achieved so much even with the weight of the LCD on them, hence the decision to raise capital and significantly increase the marketing campaign to fully realise the opportunity here.
They are now doubling their sales force and going all out with the promotional campaign, and we can already see the initial implications of this here at the ASCRS. To me this is where the growth journey will really begin. Don’t get me wrong, the past year was solid for the company, 65% growth even with the MACs proposing reimbursement cuts was a phenomenal achievement, but they were still restricted significantly by their small sales force and limited funds. Now they’re cashed up and ready to go with a much larger sales team, and I sense the result of this will be very impressive.
See the announcement below, it is quite an impressive line up!
(20min delay)