Nova Eye Medical (EYE) Discussion, page-859

Yeah $10m in the US, the remaining $5m was global, and that was on the original iTrack device. I suspect that average spend per doctor will increase significantly due to the new device, so we could be looking at an increase in revenue from multiple fronts: existing customers increasing spend and new doctors adopting the device.

Gross margins are extremely healthy at around 80%, once the company is able to get more scale and reduce marketing spend I suspect net margins will also be very healthy (customer retention appears to be very high for this device)

Highly profitable, strong moat (due to regulatory factors, patents and clinical data) and solid recurring revenue (due to single use nature of devices) makes this a very high quality product from a financial perspective. The fact the market isn't valuing it at a high premium is insane to me, should really be at 7-10x revenue at least, perhaps more to account for the high probability of significant growth (ie triple digit revenue growth) and future profitability

Obviously it's still early days and therefore we can only speculate as to how iTrack Advance will perform, but to me the probabilities are favouring the bulls