Compumedics Limited's H1 FY24 Performance

Compumedics Limited (ASX: $CMP) expects to achieve a record unaudited revenue of approximately $26.0m for H1 FY24, representing a 35% increase from H1 FY23. The company also anticipates a return to profitability in H1 FY24 and plans to release updated FY24 full year guidance with the Appendix 4D on or about 22nd February 2024.

Executive Commentary on H1 FY24 Performance

Compumedics Limited is pleased to announce the expected record revenues for H1 FY24, driven by the successful sale of the second MEG to TJNU and strong initial sales of the Somfit device in the Australian market. Despite softness in the USA and DWL businesses in H1 FY24, we are confident in the potential for improved trading in H2 FY24. We are also excited about the commercialization activities for Somfit in the USA following FDA approval and the additional MEG sales in China. We look forward to providing detailed analysis and revised FY24 full year guidance with the release of the Appendix 4D.

Summary of Compumedics Limited's Business Update

Compumedics Limited (ASX: $CMP) anticipates a significant 35% increase in unaudited revenues for H1 FY24, driven by the successful sale of the second MEG to TJNU and strong initial sales of the Somfit device in the Australian market. The company also expects to return to profitability in H1 FY24 and plans to release updated FY24 full year guidance with the Appendix 4D. With ongoing commercialization activities for Somfit and the expansion of MEG sales in China, Compumedics remains focused on its strategic growth initiatives. The company's broad international reach and commitment to innovative diagnostics technology position it for continued success in the global medical device market.