Key points
- Record new sales orders of $32.8m, up 9% over H1 FY24
- Revenues booked down 12% to $23.2m, excluding MEG sale in H1 FY24, sleep and neurology revenues up 10%
- Loss after tax of $1.1m, impacted by lack of MEG sale, investment in USA sales, and one-off costs
Full summary
Compumedics Limited reported its financial results for the half-year ended 31 December 2024. The company recorded revenue from continuing operations of $23.5m, down 11% from the previous corresponding period. Profit/(Loss) after tax attributable to members was a loss of $1.1m, down from a profit of $0.1m in the prior corresponding period. The key factors impacting the result were:1) The lack of an MEG sale in H1 FY25, while the company continues to invest in this business2) Significant investment ($1.5m) in increased sales resources, primarily in the USA, which drove 208% growth in sales orders taken during H1 FY253) Other one-off costs ($0.5m) such as recruiting fees to secure key sales leadership and other critical roles4) Favorable foreign exchange movements of $0.2m compared to the prior periodDespite the decline in profitability, the company recorded record new sales orders of $32.8m, up 9% over H1 FY24. Excluding the MEG sales orders and the DWL business from H1 FY24, sales orders taken for the combined sleep and neurology business were 65% higher in H1 FY25. The company remains committed to its strategic growth plans while also focusing on improving productivity and efficiency to generate consistent and growing profits.