Compumedics (ASX:CMP) Sets AUD 70m FY26 Revenue Target, Recurring Revenue Expansion in Focus

Highlights

• CMP’s revenue rose 2.49% YoY to AUD 50.96 million in FY25 driven by U.S. and Asia sales and SaaS expansion.
• In FY25, net loss of CMP widened to AUD 1.27 million from AUD 0.34 million in FY24.
• CMP targets AUD 70 million revenue and AUD 9 million EBITDA in FY26, with recurring revenue expected to exceed 40% by FY27.

Compumedics Limited (ASX:CMP) is an ASX-listed global medical device company specialising in brain, sleep and blood flow diagnostics. It operates internationally through Neuroscan (USA) and DWL (Germany) and is recognised for innovative clinical and home monitoring technologies.

In the financial year 2025 (FY25), the company posted revenue of AUD 50.96 million, up 2.49% YoY from AUD 49.72 million in FY24, driven by higher U.S. and Asia sales and SaaS expansion. Net losses increased to AUD 1.27 million from a net loss of AUD 0.34 million in FY24, due to an increase in finance costs, R&D, and admin expenses, partially offset by gross margin and recurring revenue growth. Cash and cash equivalents rose to AUD 2.69 million in FY25 from AUD 1.89 million in FY24, reflecting 42.33% YoY increase.

Business Update

On 22 September 2025, CMP appointed U.S. Medtech veteran Christopher Barys as a non-executive director to support U.S. growth, strengthen capital market positioning, and accelerate the commercialisation of Somfit and OrionMEG.

Earlier, on 4 September, Somfit D was granted FDA clearance, effectively doubling its U.S. addressable market. The single-use device targets the USD 240 million home sleep testing sector, expected to drive recurring revenue and reinforce the FY26 growth outlook.

Key Positives and Negatives

EBITDA margin increased to 5.8% in FY25 compared to 2.6% in FY24, alongside a rise in gross margin to 60.6% in FY25 from 52.4% in FY24. On the negative side, net margin stood at -2.5% in FY25 versus the industry median of 15.8%, while the current ratio declined to 1.10x in FY25 from 1.23x in FY24.

Business Outlook

CMP expects to record AUD 70 million revenue and AUD 9 million EBITDA in FY26, driven by sales momentum, operational leverage, and expansion in recurring SaaS, device, and consumable revenue. With rising U.S. orders and FDA clearance for Somfit D, the company plans deeper U.S. penetration across sleep diagnostics, neurology, and brain research. Recurring revenue, currently over 25% of total, is expected to exceed 40% by FY27, underpinned by long-term cash flows and margin expansion.

Share Performance of CMP

The stock closed at AUD 0.285 per share on 24 September 2024. Over the past year, CMP’s share price has dropped by 4.99% and in the last three months, it has increased by 14%.
The 52-week high of CMP is AUD 0.36, recorded on 4 August 2025 and 52-week low is AUD 0.24, recorded on 26 June 2025.

Support and Resistance Summary

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 25 September 2025. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Disclaimer

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