Compumedics has delivered record first-half sales orders and a 32% jump in shipped revenue, setting the stage for a robust second half driven by new product launches and operational efficiencies.
- Record H1 FY26 sales orders of $34.9 million, up 6% year-on-year
- Shipped revenue surged 32% to $30.8 million in H1 FY26
- EBITDA expected to exceed $3 million in H1 FY26, supported by cost reduction program
- Somfit D launch planned for H2 FY26 to boost US home sleep testing market presence
- Additional MEG orders anticipated in H2 FY26 alongside targeted USA commercial restructure
Record Sales Orders and Revenue Growth
Compumedics Limited (ASX, CMP), a global medical device company specialising in diagnostic technology for sleep and neurological monitoring, has reported a strong first half for fiscal year 2026. The company achieved record sales orders of $34.9 million, marking a 6% increase compared to the same period last year. This growth was underpinned by robust demand across its core sleep and neuro platforms, particularly following a strategic commercial refocus in the United States.
Shipped and invoiced revenue also saw a significant uplift, rising 32% to $30.8 million. This reflects improved execution and delivery cadence, converting the order momentum into tangible revenue. The company’s MEG (magnetoencephalography) segment contributed to ongoing invoicing, with one MEG order secured in the first half and more expected in the second half.
Operational Efficiency and Profitability
Compumedics is actively pursuing a $2 million per annum cost reduction program aimed at enhancing operating leverage and expanding margins. This initiative focuses on structural efficiencies, overhead reduction, and disciplined capital management. The benefits of this program are expected to materialise progressively through the second half of FY26.
As a result, the company anticipates H1 FY26 EBITDA to exceed $3 million, signaling improved profitability alongside revenue growth. This balance between growth and cost control is critical as Compumedics scales its operations and invests in priority growth initiatives.
Looking Ahead, Somfit D Launch and Market Expansion
Looking forward, Compumedics reaffirmed its FY26 guidance with revenue expected to reach $70 million and EBITDA up to $9 million. Key catalysts include the planned launch of Somfit D in the second half of the year. This new product aims to accelerate penetration in the sizeable US home sleep testing market, leveraging connected, higher-margin platforms to drive recurring revenue streams.
The company has also implemented a targeted commercial restructure in the US to improve sales execution and customer onboarding, positioning itself to capitalise on high-probability opportunities ahead of the Somfit D launch. Additionally, Compumedics is progressing additional bank funding capacity to support growth and working capital needs, enhancing financial flexibility to pursue larger opportunities confidently.
Strategic Positioning and Market Confidence
Executive Chairman Dr David Burton highlighted the company’s strategic momentum, noting the strong sales order intake, improved delivery cadence, and a sharpened cost base. With a $20 million pipeline already identified and advancing MEG opportunities, Compumedics appears well-positioned to deliver on its FY26 targets and build a higher quality earnings profile with increasing contributions from connected platforms.
As the company prepares to release its audited H1 FY26 results in late February, investors will be watching closely to see how these operational improvements and new product launches translate into sustained growth and profitability.
Bottom Line?
Compumedics’ strong first half sets a promising stage, but execution of Somfit D and MEG orders will be key to sustaining momentum.
Questions in the middle?
- How will the Somfit D launch impact Compumedics’ market share in the US home sleep testing sector?
- What is the timeline and scale for additional MEG orders expected in the second half of FY26?
- How effectively will the $2 million cost-out program translate into margin expansion over the coming quarters?