Australian home dental impression company, Impression Healthcare Limited (ASX: IHL) has achieved a significant milestone, reporting that total sales of its The Knight Guard have passed 1000 units since the product soft launched in late June 2017.
CEO, Matt Weston, said the sale of the first 1000 units of The Knight Guard in such a short period of time demonstrates Impression’s ability to successfully launch innovative new products that generate immediate and significant revenues for the company.
“Over the past five months, sales have increased circa 20% month-on-month and have diversified the Company’s revenue stream. And, in addition to growing sales, there has been an overall increase in the average value of each order.”
Mr Weston said The Knight Guard meets a significant and growing demand for affordable and customised dental devices for bruxism and are manufactured by experienced dental technicians, using quality materials, at Impression’s highly-scalable dental lab located in Melbourne, Victoria.
According to the Sleep Health Foundation, approximately 50% of the population experience occasional bruxism and it is a regular problem for about 5% of the population. Bruxism can cause serious and expensive dental problems, including worn, cracked, and/or loose teeth and other health complaints such as headaches and jaw pain.
“The board is excited by the initial brand development of the Knight Guard and the growth trajectory thus far has been impressive as we continue to optimise our marketing strategy to hasten sales,” Mr Weston said.
“Our business model is disruptive to the traditional dental devices market and the price point and quality of The Knight Guard has helped us to drive sales.
“Our continuing focus is to generate further brand awareness and to drive traffic to The Knight Guard website. The website conversion rate is currently 2.46% month-to-date but has had daily peaks up to 4.37% so it appears that marketing momentum continues to gain traction.”
The Knight Guard is included on the register of the Therapeutic Goods Administration (TGA).