iDose TR Launch and Revenue Impact
Q: What's driving iDose TR's launch progress and revenue outlook?
A: Management noted that iDose TR's launch has gone as planned, contributing better-than-expected revenues in Q2 alongside a 26% year-over-year growth in U.S. glaucoma sales. " They expect momentum to build as reimbursement hurdles are cleared, particularly with the J-code in place by Q3, leading to increased adoption in Q4 and into 2025. " " "

Profitability Outlook and Cash Flow Breakeven
Q: When do you expect to reach cash flow breakeven?
A: The company aims to achieve cash flow breakeven and begin generating cash in 2025, as iDose ramps up. " While profitability is not the near-term focus due to ongoing investments in a rich pipeline, they anticipate starting to see improvements in cash flow over time. "

iDose Readministration Potential and FDA Decision
Q: Do you need additional trials for iDose readministration approval?
A: Management stated they do not need additional clinical trials for iDose readministration. " They have submitted a reconsideration request to the FDA and are hopeful but cautious about approval. If unsuccessful, they are progressing with iDose TREX trials by year-end, which could serve as an alternative. "

Guidance Update and Growth Drivers
Q: How does the updated guidance reflect iDose and other segments?
A: The company raised full-year guidance by $12 million, exceeding the Q2 outperformance of $7 million. " This increase is due to strong U.S. glaucoma growth and international glaucoma expectations of low to mid-teens growth. " " However, they anticipate potential growth headwinds in the stent portfolio as the sales team focuses on iDose TR. " "

Stent Portfolio Performance and Potential Headwinds
Q: Should we expect mid-teens growth in stents to continue?
A: While the stent portfolio experienced mid-teens growth in the first half, management is not counting on that pace in the second half due to the sales team's focus shifting to iDose TR. " They are preparing for potential growth dampening in the stent business. " "

Gross Margin Impact from iDose
Q: How is iDose affecting gross margins?
A: iDose did not significantly drive margin improvement in Q2; in fact, the iDose facility is currently a headwind to margins due to manufacturing inefficiencies during scale-up. " They expect margin accretion to expand over the next year as iDose fully launches. "

Sales Force Strategy and Leverage
Q: Are there plans to increase the sales force with iDose launch?
A: The company has no plans for wholesale changes to the sales force size but expects organic additions over time. " " They anticipate leveraging the existing team, with ophthalmology allowing for significant scalability without extensive hiring. "

International Glaucoma Business Growth
Q: What's driving international glaucoma growth?
A: International glaucoma is expected to deliver low to mid-teens growth for the year, reflecting strong first-half performance. " " Drivers include new product introductions, market expansion, and focus on interventional glaucoma opportunities. "

Corneal Health Business Outlook
Q: How will the corneal business perform after MDRP headwinds?
A: The corneal business is expected to deliver low single-digit growth for 2024. " While MDRP headwinds may persist into 2025, the underlying business is expected to return to or exceed past growth levels as these headwinds subside. "

Seasonality and Revenue Expectations
Q: How should we model revenue progression in coming quarters?
A: Due to seasonality, Q3 is typically softer than Q2, with historical sequential step-downs of several million dollars. " iDose growth is likely weighted towards Q4, making it prudent to be conservative for Q3 expectations. "

Adoption Dynamics and Competitive Switches
Q: Are you seeing competitive switches to iDose?
A: It's early to make definitive statements, but management expects iDose to be an early intervention option, potentially leading to shifts in treatment algorithms. " " They hope to benefit from a halo effect across their product portfolio as iDose adoption grows. " " "

iStent infinite Performance
Q: Is iStent infinite still larger than iDose?
A: Yes, as of now, the stent portfolio and iStent infinite remain the dominant components of the U.S. glaucoma revenue base. " However, this is expected to shift as iDose continues to ramp up. "

Epioxa Launch Timing
Q: When is the Epioxa product expected to launch?
A: The company is preparing for a significant launch of the Epioxa product as they exit 2025 and enter into 2026. "

iDose Availability Outside the U.S.
Q: What's the timeline for iDose launch internationally?
A: The company is cautious about international iDose TR launches due to complex pricing environments and is currently evaluating various markets. "

OpEx Growth Expectations
Q: How is OpEx expected to trend for the remainder of the year?
A: OpEx is expected to grow approximately 10% year-over-year, reaching around $400 million for 2024, consistent with prior guidance. "