New MEG order

• New $5.7M MEG order from Hangzhou Normal University in China
• Total MEG sales orders now at 4, representing about $20M in revenues
• Compumedics expects to ship and install the new MEG system in FY26

Compumedics Limited (ASX: CMP) has announced the confirmation of a new $5.7M MEG contract with Hangzhou Normal University (HZNU) in China. The sale is via Beijing Fistar, Compumedics' long-term Chinese distributor for the company's brain research technology. The MEG system, along with CURRY neuroimaging software and ancillary equipment, will ship in early 2026 after site preparations are complete. Compumedics expects to receive a significant deposit this month securing the new order, with additional payments tied to shipment and installation. This new contract firmly establishes Compumedics as the dominant supplier of MEG technology in the large and fast-growing Chinese neurosciences market. The university's selection of Compumedics was the result of a lengthy technical evaluation of all available MEG systems from multiple vendors, an endorsement that Compumedics' design is both groundbreaking and in high demand. Compumedics continues to develop the Orion LifeSpan MEG with a number of improvements over earlier systems to be incorporated into all the new deliveries. This includes SQUID sensor quality improvements, more uniform sensor distribution, improved dewar thermal efficiency, additional helium recycler capacity, lower noise hyperscanning recordings, an entirely new driver for locating the head's position during MEG measurements, more robust and accurate head localisation software, better support for hyperscanning within CURRY, improved software convenience functions, data compatibility improvements and more.

Sales orders taken for FY25 are expected to be more than $60M, with booked revenues at least $55M and EBITDA of about $5M. FY26 booked revenues will be at least $70M and EBITDA to be more than $9M.

Compumedics will look to target the North American market for its MEG technology in 2025 as the business opportunity continues to gain material commercial traction.