Compumedics posts record H1 sales & affirms FY26 goals

Compumedics reported record first-half sales orders and a sharp rise in shipped revenue, as the Australian medical device maker maintained its full-year guidance and outlined plans for a new home sleep testing product launch later in the financial year.

The company said it took sales orders worth $34.9 million in the first half of FY26. That compared with $32.8 million in the prior-year period. Compumedics said the result reflected stronger demand and improved conversion across its core sleep and neuro platforms after a commercial refocus in the United States.

Compumedics also reported unaudited shipped and invoiced revenue of $30.8 million for the half, up 32% year on year. It described that as a record for the period. The company linked the rise to improved delivery execution and a steadier cadence of shipments. It said MEG activity contributed to invoicing in the half.

Order intake

Compumedics makes diagnostic systems used in sleep and brain monitoring, as well as equipment used in ultrasonic blood flow monitoring. The company operates internationally through subsidiaries including US-based Neuroscan and Germany-based DWL Elektronishe.

In its update, Compumedics said its order intake showed improved conversion across its product lines. It also highlighted magnetoencephalography, or MEG, which is typically sold as capital equipment. The company said it secured one MEG order in the first half. It expects further MEG opportunities to progress in the second half.

Compumedics said reported revenue would continue to depend on delivery and installation timing, particularly for capital equipment and MEG systems. The company tied the first-half revenue growth to execution and delivery cadence. It said that converted order momentum into shipped and invoiced revenue.

Costs and earnings

Compumedics said it is progressing a cost-out programme worth $2 million per year. It expects benefits from the work to build through the second half of FY26. The company said the programme focuses on structural efficiency, lower overhead intensity and tighter capital discipline.

On profitability, Compumedics said H1 FY26 EBITDA, subject to audit, is expected to exceed $3 million.

The update also included reaffirmed guidance for the full year. Compumedics kept its revenue guidance at $70 million. It kept EBITDA guidance at up to $9 million. It said it expects a stronger second half profile.

Product pipeline

Compumedics said it has planned a Somfit D launch for the second half of FY26. Somfit is the company's connected sleep monitoring platform. Compumedics described Somfit D as part of its approach to the home sleep testing market in the United States and to connected platforms over time.

The company also pointed to changes in its US commercial operations. It said it has implemented a targeted commercial restructure in the United States. It said the restructure focuses on sales execution efficiency, higher-probability opportunities and customer onboarding and conversion. It also said the restructure includes preparation for the Somfit D launch.

Compumedics said it is progressing additional bank funding capacity. It linked this to growth and working capital requirements as scale increases. It said this would increase financial flexibility and support larger opportunities.

MEG timing

On MEG, Compumedics said existing orders are on track for shipment in the second half of FY26. It also said shipments for new orders now continue into FY27. The company framed MEG as a contributor to its shipment and invoicing profile, alongside its broader sleep and neuro product lines.

The company's Executive Chairman commented on the half-year performance and the outlook.

"Compumedics is demonstrating clear strategic and operational momentum, delivering record first half sales orders and shipped revenue growth, while progressing MEG opportunities and expanding our connected Somfit platform. Importantly, we are converting that momentum into scale, with improving delivery cadence and a sharpened cost base that supports operating leverage. With Somfit D planned for launch in the second half and a $20 million pipeline already identified, alongside MEG opportunities advancing and additional bank funding capacity being progressed, we believe the Company is well positioned to deliver on FY26 guidance and continue building a higher quality earnings profile with increasing recurring and connected platform contribution," said Dr. David Burton, Executive Chairman, Compumedics.

Compumedics said it expects to release its Appendix 4D with its half-year results around late February.