I don’t think anyone, including the company, can get a clear fix...

I don’t think anyone, including the company, can get a clear fix on sales growth expectations for FY25. That’s what makes this exciting to watch and be invested in.

We do know it’s not going to go backwards or level off. Clinicians do not stop using it but instead expand their use. They tell colleagues about it. They watch or participate in presentations and workshops.

The PMI for deep burns will drive additional growth in the US over FY25 and beyond — and it will probably lead to a quicker approval in Japan and the beginning of sales there. As well, the full launch of MTX in June may really boost sales overall in the US well past the 42% this HY. But how to put a figure on both of those?

Our most mature market is Australia and NZ and yet sales grew 73% for 1HY24 compared to pcp!

And we really have no idea what the impact will be in India. I suspect that it’s going to fly because the need so great. But I have no idea what that will mean in dollar terms.

I think Macquarie would rather under estimate and then welcome the upside. Most of the others seem to have no idea.

For FY25, I’m adding 10% to Macca’s forecast — say, $150 mill — as the bottom of the range figure and at the top I don’t think that $200 mill can be ruled out.

Revenue guessing games are more exciting than sp guesses at this stage of the company’s development ;-)