My simple take30 Jan 2021 16:12
I believe that Nova have managed well dealing with exponential growth and all the problems that this brings. The covid epidemic has and will keep their products in demand for much longer than I suspect they even forecast and as such, currently have no need (or capacity) for diversification. They have put the foundations of their marketing team together over the last few months and can now really start to push their international sales. The testing market is evolving fast and having the gold standard test with many (6 new products) launched in the last few months will lead to greater interest and greater sales.
Of course the company cannot predict future sales where 90% come from covid testing. Who knows how long this epidemic will go on for and how long mass testing will be required. It is predicted that Covid will mutate even more rapidly now that the vaccines are being rolled out. It's possible that it could just become a mild flu, but it's also possible that it could mutate into something much uglier. It would be nice to have a crystal ball but I don't think anyone is actually claiming that they can predict the outcome of covid.
What I can predict is that there sales should grow considerably over the next 6 months-after that there could well be a decline. No one can predict the rate of decline or what the natural level of test requirements will become. That said, Hand**** has announce millions will be invested into setting up testing to become the pillar of the future NHS. Novacyt are well positioned to take a major role in that.
When it's time to diversify, I'm sure that their bank balance will be bursting at the seams and there will be some very wise bolt on's to expand their offering.