PolyNovo reported its ‘first ever A$5 million sales month and record first quarter sales.’
PNV shares have been up 55% over the past six months.
Source: tradingview.com
PolyNovo’s favourable first quarter
PNV’s September quarter sales rose 73% at the same time last year to $12.5 million, including a record month in September when sales totalled $5.4 million.
That $5.4 million from September means the other two months in the quarter averaged about $3.55 million per month.
Despite the record sales, PNV chairman David Williams admitted that month-to-month sales ‘are still lumpy.’
In FY22, PolyNovo’s total revenue increased 42.8% to $41.9 million, and net loss after tax fell 74% to $1.2 million.
The graph below depicts PolyNovo’s $1 million incremental sales milestones since April 2019:
Source: PNV
Swami Raote, PNV’s CEO, commented on the quarterly results with the following statement:
‘Our results are a vindication of surgeon recognition of consistent outcomes, better patient experience along with hospital systems acknowledgement of lower complexity and cost associated with NovoSorb BTM. I am pleased with how our teams are now beginning to translate our burn heritage and supremacy into trauma and other acute surgical soft tissue reconstruction opportunities. PolyNovo has always been focused, responsible and capital efficient in delivering results and I look forward to accelerating our global impact.’
Chairman, David Williams added:
‘By focusing on hiring the right talent and expanding our commercial footprint, we are confident of building a Global leader in Soft Tissue Regeneration based in Australia. However, while the growth trajectory is clear and exciting, month to month sales are still lumpy.’
Hyper-bitcoinisation and the march to US$1 million
Do you think bitcoin can be worth US$1 million by 2030?
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He discussed how in a special presentation, which also sketched out his argument for how bitcoin can hit US$1 million by 2030.
If you’d like to hear Ryan’s thoughts, watch his presentation here.
Regards,
Kiryll Prakapenka,
For Money Morning
