Compumedics Looks to Turn the Corner after Record Sales And Growth in FY25

Compumedics (ASX: CMP) has marked a strategic turning point in its development after posting record sales and profitable growth for the 2025 financial year.

The company racked up $63.4 million in sales for the period, representing a growth of 22% on the previous year.

Its EBITDA increased to approximately $3m, returning Compumedics to profitability and reflecting strict operating discipline, while supporting top-line growth.

Broad-Based Growth

Orders from the Sleep & Neurology segment rose more than 39% to $53m, led by a 102% growth in the US sleep diagnostics market to $23.5m.

Software-as-a-Service (SaaS) orders for the Somfit adhesive sensor — which collects patient physiological data for the diagnosis of sleep disorders — and the Profusion neXus 360 cloud-based lab management system increased by 49% to $6.7m.

Somfit’s US sales orders for the period rose by more than 675% from $400,000 to $3.1m, as the region continued to lead the company’s growth with annual sales orders up more than 115% on the previous corresponding period.

Asia increased by 71%, and Europe was up by 12% compared to the previous year.

MEG Technology

Orders for Compumedics’ Neuroscan Orion LifeSpan magnetoencephalography (MEG) technology totalled $5.9m for the year, with three new systems in progress for expected revenue of $15m in the new financial year.

MEG is an advanced brain imaging technique which maps neural activity by detecting the tiny magnetic fields produced by electrical currents in the brain.

Unlike other imaging methods, it captures real-time brain function with millisecond accuracy, making it valuable for diagnosing and studying neurological conditions such as epilepsy, brain tumours, and developmental disorders.

Segment Performance

The Somfit + Nexus 360 SaaS segment contributed revenue of $6m (up 41% on 2024) and is expected to add more than 20% to group revenue during the new financial year, delivering high margins and scalability for the company.

Three MEG systems are on track for revenue in 2026, with paediatric market expansion increasing the Compumedics opportunity to around $120m.

The US launch of the disposable Somfit D is expected to increase penetration of the nation’s home sleep test market, representing an opportunity of between $150m to $300m.

Record Revenue

Compumedics posted a record total revenue for the year of $51m (up 4% on the previous year) while revenue from the Sleep & Neurology segment grew to $46.3m (up 16%).

A margin uplift was driven by product mix optimisation, scaling SaaS and stable overheads while a modest $4.1m capital raising covered the gap between sales and revenue.

Compumedics is now focused on capital efficiency and driving higher-margin, recurring revenue streams through product innovation and global expansion, including MEG system deliveries and a major push into the US sleep diagnostics market.

Company Step-Change

Executive chair Dr David Burton said the annual results had marked the beginning of a step-change for the company.

“We are building a more predictable, higher-margin business model and seeing consistent revenue growth, expanding margins, and meaningful traction in the US and across our connected platforms,” he said.

“The next financial year will see us scale into a more focused, cash-generative global business underpinned by recurring revenues from Somfit and clinical innovation, with MEG deliveries and growing demand in China providing further upside.”