Compumedics clocks up record revenue in FY23

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Compumedics Ltd (ASX:CMP) CFO David Lawson tells Proactive revenues grew 12% to a record $42.4 million for FY23, compared to $37.8 million in FY22. He adds that substantial investment in commercialisation activities associated with the Somfit and MEG step-out growth opportunities continued in the period. Looking ahead the company anticipates revenues for FY24 will be more than $44 million and EBITDA is expected to be more than $5 million, with the growth driven primarily from its new SaaS product offering.

Compumedics 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 and a 50% share of Austria-based Alpha Trace, which it acquired on 1st September 2022. In conjunction with these 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.

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