Especially for you @Rick !

Trading Update

Their Headlines:

• Total revenue including BARDA of A$104.8m up 57.5% on STLY of A$66.5m.

• FY24 sales of A$92.0m up 54.5% on STLY of A$59.6m.

• Strong growth in U.S. sales of A$68.7m up 49.0% on STLY of A$46.1m.

• ROW sales of A$23.3m up by 73.1% on STLY of A$13.5m including strong performances in developed markets like UKI, Germany and ANZ.

• Surgeon education and charitable contributions, widely used to support patients in conflict zones.

My analysis

Revenue is bang on where I expected. I had them coming in anywhere between $102m and $106m, which was easy to pick, given the absence of "record months" in the last few months.

All this should be good enough for them to hit their positive NPAT commitment for the FY.

I'm pleased revenue growth is holding up strongly. Analyst views have this starting to decline in % terms quite quickly over the next two years and, if they can hold it around +50%, then that's the opportunity for the next significantly leg up in SP, as that will drive a few years of very high EPS growth.

Conclusion.

On track. Holding for long term. My biggest RL position.