Compumedics secures $1M US contract for Somfit in major pharma trials

Compumedics (ASX:CMP), a leader in sleep and brain diagnostic technologies, has secured a major contract for its Somfit device valued at approximately $1 million with one of the world's leading pharmaceutical contract research organisations in the United States.

The device will be used in clinical drug trials to assess the impact of a new pharmaceutical on sleep quality.

This sale marks a key milestone in Compumedics' strategic expansion into adjacent markets beyond the traditional home sleep testing segment.

Somfit's ability to directly measure brain activity via a disposable adhesive forehead sensor provides true sleep architecture analysis, an essential component for pharmaceutical trials, making it a preferred alternative to surrogate signal-based sleep testing systems.

The contract supports Compumedics' strong growth trajectory in the US market, with year-to-date sales orders totalling US$12 million as of May 16, up 130% from US$5.2 million during the same period last year.

Somfit sales in the US alone reached US$1.8 million, an 800% increase from US$200,000 to $300,000 a year earlier.

Compumedics continues to target the large US HST market, estimated at 3–4 million tests annually and representing a $150–$300 million commercial opportunity.

The company has also secured Somfit orders from a global CPAP provider and is expanding sales into Europe, with initial orders nearing €500,000.

For FY25, the company maintains its guidance for sales orders exceeding $60 million. However, due to timing in shipping and invoicing, reported revenues are now expected to range between $50 million and $55 million, slightly below earlier projections.

EBITDA is forecasted at approximately $3 million, revised from $5 million.