ImpediMed Hits Record $6.3M SOZO Sales Amid US Reimbursement Boost

Record Sales Momentum

ImpediMed Limited has delivered a standout performance in the fourth quarter of fiscal 2025, achieving a record Total Contract Value (TCV) of $6.3 million for its SOZO Digital Health Platform. This marks a significant jump from $4.9 million in the previous quarter, driven primarily by a surge in US sales where 44 SOZO devices were sold, double the units sold in Q3 FY25. Notably, a 9-unit contract with Legacy Health, a major six-hospital system in Oregon and Washington, underscores growing institutional adoption.

Expanding US Reimbursement Coverage

The company’s sales momentum is underpinned by a meaningful expansion in reimbursement coverage across the United States. From July 1, 2025, a new major commercial payor began coverage, increasing the number of states with over 80% reimbursement coverage from 25 to 36, and those with over 90% coverage from 7 to 21. This enhanced reimbursement landscape is critical for supporting sales growth and customer retention, especially among key accounts such as Integrated Delivery Networks and NCCN Centres.

Financial Stability and Cost Discipline

While quarterly revenue remained steady at $3.3 million, slightly down from $3.4 million due to currency fluctuations, Annual Recurring Revenue (ARR) rose to $14.0 million, reflecting strong subscription-based business growth. The company maintained disciplined cash management, with net operating cash outflows steady at $3.5 million and a robust cash balance of A$22.2 million at quarter-end, excluding the recently drawn US$5 million Tranche 2 under its growth capital facility. Importantly, ImpediMed achieved a 16% reduction in cash costs for FY25 compared to FY24, primarily through a 22% cut in staff remuneration expenses.

Strategic Corporate Moves

ImpediMed has also reestablished its Australian corporate headquarters in Sydney, bringing key senior management roles closer to home while maintaining operational hubs in the US. This move aligns with the company’s global growth strategy and mirrors the operating models of other successful Australian medical device firms. The company plans to leverage its installed base of over 400 SOZO units in Australia and New Zealand to expand into adjacent markets such as body composition and cardiology in FY26.

Looking Ahead

With a strengthened sales pipeline, improved reimbursement coverage, and fresh capital in hand, ImpediMed is well positioned to sustain its growth trajectory into the new fiscal year. However, investors will be watching closely how the company manages upcoming manufacturing payments deferred to Q1 FY26 and how it capitalizes on expanding clinical applications for its bioimpedance technology.