Nova Eye Medical (EYE) Discussion, page-55

Why's that? There are more than 10,000 doctors who could shift to iTrack Advance so I don't think it is wild to assume about 10% might use iTrack Advance

Either way $3.60 is estimated on revenue of just $60m. Based on peers, $60m revenue should give the company a valuation of $3.60. Not a very wild revenue figure for a high growth and large market like MIGS (estimated to grow to about $US5bn by 2030). Already the company should be valued at $0.60 based on peers, but im guessing the market is waiting for proof of revenue growth with iTrakc Advance. In that case we should expect to see gains on two fronts; the first being a multiple increase and the second being gains associated with revenue growth.

Whether it's 12,000 doctors who knows. I did assume they wouldn't increase their purchasing of iTrack Advance though. The $60m revenue figure in the model though is highly realistic, and Sight Scoences was able to increase from about US$7.5m a few years ago to over $US70m today, and it's still growing at like 40%. I reckon EYE has a superior product to Omni and can do much better, especially as the canaloplasty industry on its own is growing so fast (and I reckon doctors will become more and more keen to shift from stents to canaloplasty)