Record H1 FY25 sales orders, driven by strong USA growth

January 15, 2025

Sleep business further underpins renewed growth opportunities in key USA market.

BUSINESS Update

  • Compumedics has booked record sales orders taken of $32.8m for H1 FY25, up 55% on the same time last year, excluding MEG
  • USA sleep and Neuroscan business drives sales order growth of 208% compared to the same time last year in this key market
  • Asia based sales orders taken were 115% higher than the same time last year and Europe sales orders taken were 10% than the same time last year
  • Somfit sales orders taken are approximately 70% higher than the same time last year at $1.9m with a recent initial sale to a large global CPAP player and Somfit success and new trials at large Independent Diagnostic Testing Facilities (IDTF’s) in the USA
  • Company FY25 guidance – sales more than $55m (excluding MEG) and EBITDA above $5m. EBITDA will be weighted to the second half due to marketing and development costs being expensed in the first half, and sales benefits coming in the second half. FY25 guidance to be reviewed with Appendix 4D release.

 
Compumedics Limited (ASX: CMP) a global medical device Company that develops, manufactures and commercialises diagnostic technology for sleep, brain, and ultrasonic blood flow monitoring is pleased to advise that the Company’s sales orders taken for H1 FY25 were a record $32.8m, with the USA continuing to provide evidence of accelerating sales growth, where sales orders taken for H1 FY25 were 208% higher than the same time last year. Asia booked sales orders 115% higher than at the same time last year, whilst Europe was also 10% higher on sales orders taken, compared to the same time last year.

In the USA-based business, sales orders for H1 FY25 were 208% higher than the same time last year, with the sleep business driving the growth, along with the Neuroscan brain analysis business.

Initial Somfit sales orders taken in the USA were about $1.0m (USD0.7m) in this key market, increasing from zero six months ago. Sales momentum will continue to build as new sales resources are now coming on board, in line with our stated USA strategy, building their pipelines and closing deals. As such, we are well placed to accelerate growth over H2 FY25. The USA business is already in, or progressing, trials and demonstrations with 3 large IDTF’s, with one IDTF using the Somfit device for part of their HST business. The addressable home sleep apnea test (HST) market in the USA is between 3m and 4m HST’s a year, representing a market opportunity between $150m(USD100m) and $300m(USD200m) for Compumedics.

Further, the Company has taken an initial Somfit order from a global CPAP player and continues to work with other leading sleep service providers in Australia and other key markets around the world. This includes an initial $200k (EUR120k) Somfit sale in Europe, as part of the H1 FY25 sales orders taken, representing the initial market activity in the next large market opportunity for Somfit.

This Somfit sale into the European market helps underpin the growth in this market driven by sales into the traditional sleep diagnostic market and the neurological monitoring market.

Reported revenues (shipped and invoiced) will lag the record sales orders taken in H1 FY25 and will be about $23.2m or 13% lower than H1 FY24. Excluding MEG, revenues for H1 FY25 will be about 6% higher than H1 FY24. This is due to the TJNU MEG sale being booked in H1 FY24, whereas there was no MEG sale in H1 FY25.

EBITDA will be weighted to the second half due to marketing and development costs being expensed in the first half, particularly in the USA business, and sales benefits coming in the second half. FY25 guidance to be reviewed post H1 FY25 results finalisation, and audit.

The appendix 4D is expected to be released around 24th February 2025.

About Compumedics Limited

Compumedics Limited [ASX: CMP] is a medical device company involved in the development, manufacture and commercialisation of diagnostics technology for the sleep, brain and ultrasonic blood-flow monitoring applications. The Company owns US based Neuroscan and Germany based DWL Elektronishe GmbH. In conjunction with these two subsidiaries, Compumedics has a broad international reach, including the Americas, Australia and Asia Pacific, Europe and the Middle East.

Executive Chairman Dr. David Burton founded Compumedics in 1987. In the same year the Company successfully designed and installed the first Australian, fully computerised sleep clinic at Epworth Hospital in Melbourne. Following this early success, Compumedics focused on the development of products that sold into the growing international sleep clinic and home monitoring markets.

Compumedics listed on the Australian Securities Exchange in 2000. Over the years, Compumedics has received numerous awards, including Australia’s Exporter of the Year, and has been recognised as a Top 100 Innovator by both German and Australian governments.

 

For further information please contact:

Dr David Burton
Executive Chairman, CEO

Compumedics Limited
Phone: + 61 3 8420 7300
Fax: +61 3 8420 7399

David Lawson
Director, CFO

Compumedics Limited
Phone: + 61 3 8420 7300
Fax: +61 3 8420 7399

 

Authorised for lodgement by Compumedics Limited’s Board of Directors