Cataract market is especially exciting for me as that is where speed and efficiency is most important (MIGS is supposed to be a quick and easy procedure complementing the main cataract procedure, so the previous device was not really appropriate for this). It does seem like they have begun to shift towards C + D segments, it would be nice to get confirmation from the company and their strategy, but all the training sessions and increased presence at conferences wouldn't be to attract A + D customers (as they are already contacts of the company). Very true about the expenses, I'm sure we will see a bump due to this expansion but as long as we have the sales growth to match that bump it shouldn't be too much to worry about. I don't think anyone is expecting a profit in FY24, so as long as they still appear on track to breaking even by FY25 we should be good. I don't mind them spending more, as long as it is bringing in more sales (with a multiplied effect)!
Whilst PNV's price to sales ratio is very encouraging, I believe our closest competitor SGHT reached over a 50x sales multiple when they were recording peak growth rates! I am not quite targeting a multiple so high, but it does show what can happen when the market begins to get excited by the numbers and the future prospects.
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