Control Bionics Reports 14% Revenue Growth Driven by US HCPCS Code and NDIS Approvals
Control Bionics is on track for its strongest financial year yet, driven by robust US and Australian sales and promising global trials of its NeuroStrip® device.
- FY25 revenue up 14% year-to-date, nearing $5.4 million
- US sales boosted by new HCPCS insurance reimbursement code
- Improved NDIS approvals enhance Australian market access
- NeuroStrip® hardware trials underway in US, Japan, and Australia
- NeuroBounce® sports program shows strong early results and expansion plans
Record Revenue Momentum
Control Bionics Limited (ASX, CBL) is poised to deliver its strongest revenue performance in FY25, with unaudited figures to the end of May showing a 14% increase to approximately $5.4 million compared to the prior year. This growth is underpinned by expanding sales in the United States and Australia, reflecting the company’s successful commercial strategies and growing market acceptance of its Electromyography (EMG) medical device technology.
In the US, the introduction of a new Healthcare Common Procedure Coding System (HCPCS) insurance reimbursement code has been a game changer, streamlining payment processes and accelerating adoption among healthcare providers. Meanwhile, in Australia, more consistent approvals from the National Disability Insurance Scheme (NDIS) have improved client access and revenue reliability, contributing to the company’s positive trajectory.
Advancing NeuroStrip® Commercialisation
Control Bionics is advancing its next-generation wearable EMG device, NeuroStrip®, with updated hardware currently undergoing trials across three key markets, the US, Japan, and Australia. The device’s lightweight design; lighter than a sheet of paper; and seamless integration with a mobile app offering instant data review and real-time analytics position it well for future Software as a Service (SaaS) revenue streams.
These trials are critical not only for validating the device’s clinical efficacy but also for unlocking new applications beyond assistive communication, including health diagnostics, rehabilitation, and sports performance. The company’s focus on diversifying its revenue base reflects a strategic pivot towards high-growth sectors.
NeuroBounce® Sports Performance Gains Traction
One of the most compelling applications of Control Bionics’ technology is the NeuroBounce® program, powered by NeuroStrip®. Recently launched in Australia with elite basketball athletes from Melbourne’s SEDA College, the program delivered impressive results, all participants increased their vertical jump height by at least 5cm, with one athlete achieving a remarkable 14cm improvement. Sprint speeds also improved materially across the group.
These outcomes demonstrate the potential of EMG technology to enhance athletic performance by activating new muscle fibers and increasing explosiveness. Control Bionics is actively engaging with additional sports organisations in the US and Australia to scale the NeuroBounce® program in FY26, signaling a promising new revenue avenue.
Looking Ahead
CEO Jeremy Steele expressed confidence in the company’s trajectory, highlighting the strong momentum heading into the final month of the financial year. With a diversified strategy that spans assistive communication, sports performance, and health diagnostics, Control Bionics is positioning itself for sustained growth. Investors will be watching closely for the full audited FY25 results and further updates on the commercialisation of NeuroStrip® and expansion of NeuroBounce®.
Bottom Line?
Control Bionics’ record revenue momentum and innovative product trials set the stage for a transformative FY26.
Questions in the middle?
- How will full-year audited results compare to the current unaudited revenue figures?
- What timelines and milestones are expected for NeuroStrip® commercial rollout post-trials?
- How scalable is the NeuroBounce® program across other sports and international markets?