Curated News
By: NewsRamp Editorial Staff
May 27, 2024
Compumedics Projects Record $46M Revenue for FY24
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- Compumedics Ltd expects record-breaking revenues of at least $46 million for FY24, with sales orders exceeding $50 million, providing a competitive advantage in the market.
- Compumedics' strong sales performance in the Australian sleep and neurodiagnostic businesses is projected to drive record sales orders and revenues for FY24.
- Compumedics' new MEG orders, increased European sales, and FDA approval for Somfit in the USA contribute to better patient care and improved neurodiagnostic technology.
- Compumedics reported a 60% sales growth in the USA, new MEG installations, and significant revenue growth for Somfit and Nexus 360, showcasing exciting developments in the company's offerings.
Impact - Why it Matters
The news of Compumedics' projected record revenues and sales orders for FY24 indicates the company's strong performance and growth in its sleep and neurodiagnostic businesses, which could potentially lead to increased investor confidence and market competitiveness. This news also reflects the company's successful commercialization efforts and expansion into new markets, demonstrating its ability to adapt to changing industry demands and technological advancements.
Summary
Compumedics Ltd (ASX:CMP) CFO and company secretary David Lawson discusses the company’s projected record revenues of $46 million for FY24, driven by strong growth in its Australian sleep and neurodiagnostic businesses. The company anticipates a profit for FY24 due to strong sales performance, with sales orders exceeding $50 million. Compumedics has seen increased European sales, particularly boosted by the Okti wireless EEG amplifier, and reported a 60% sales growth in the USA in H2 FY24. The company also expects SaaS revenue to exceed $4 million for FY24, up from $1.7 million in FY23.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Compumedics Projects Record $46M Revenue for FY24
