• FY25 H1 revenue of $53.7 million, up 19.0% (+20.1% in constant currency)
• Gross margin remains consistent at 62%
• EBITDA of $5.8 million versus a prior corresponding period loss of $1.1 million
• Positive net operating cash flow and free cash flow

SomnoMed Limited (ASX 'SOM' or the Company), the leading company in the provision of oral appliance treatment solutions for sleep-related breathing disorders and obstructive sleep apnea (OSA), has reported its FY25 half year results for the period ended 31 December 2024 (FY25 H1). The Company achieved FY25 H1 revenue of $53.7 million, representing a 19.0% increase (+20.1% in constant currency) compared to the FY24 H1 previous corresponding period (pcp) of $45.1 million. Gross margin remained consistent at 62% period on period. EBITDA for FY25 H1 was $5.8 million, compared to a pcp loss of $1.1 million. The Company's cash balance as of 31 December 2024 was $18.5 million, up 14% from $16.2 million at 30 June 2024. The Company reported positive net operating cash flow of $4.1 million and positive free cash flow of $1.3 million for FY25 H1, compared to net outflows of $4.6 million and $8.0 million in the pcp. The strong financial performance was driven by double-digit growth across all regions, continued production capacity and turnaround time improvements, robust overall demand, disciplined cost management, and the full impact of a strengthened balance sheet and cost structure following the prior year one-off company restructure and repayment of senior debt facility. The Company has made substantial headway through focused operational investments in manufacturing, with manufacturing capacity increased by greater than 40% and production turnaround time reduced from over 20 days to under 10 days as of February 2025.

The Company maintains its revised and upgraded FY25 guidance, with revenue of approximately $105 million and EBITDA of between $7 million to $9 million. Capex is expected to be between $3 million to $4 million.

The Company notes that while the positive trend experienced in FY25 H1 is expected to continue, growth may slow in the remaining quarters as order backlog has now cleared in line with improved capacity. The Company continues to focus on manufacturing capacity and investments to make operations sustainable.