ImpediMed (IPD) H1 2026 earnings summary

Executive summary

• Revenue for 1H FY26 reached $7.5 million, a 25% increase year-over-year, driven by higher SOZO usage fees and an expanding device base, with annual recurring revenue at $14.4 million and a cash balance of $18.8 million.

• SOZO® unit sales grew to 102 globally, up 27% year-over-year, with significant expansion outside the US.

• Expansion into Heart Health and Weight Management markets with the launch of SOZO® Pro, leveraging the existing BCRL customer base and achieving the first Heart Health sale.

• Achieved over 93% payor coverage in the US, unlocking a substantial growth runway and a pipeline of approximately 700 devices (~$35 million TCV).

• Net loss widened to $12.3 million from $11.1 million year-over-year, reflecting higher operating expenses.

Financial highlights

• Gross profit for 1H FY26 was $6.6 million, up 24% year-over-year, with gross margin steady at 87%.

• Adjusted EBITDA loss was $8.1 million; reported EBITDA loss was $8.8 million.

• Operating expenses increased to $18.1 million, and net operating cash outflows totaled $8.5 million.

• Customer receipts were $7.2 million, and a $1.2 million R&D tax incentive was received in Q2.

• Borrowings increased to $20.9 million, with net financing cash inflow of $6.1 million in 1H FY26.

Outlook and guidance

• Commercial momentum is expected to continue in oncology survivorship, Heart Health, and body composition markets, with a robust US pipeline of 700 potential units representing over $35 million in contract value.

• Focus remains on disciplined capital management and operational efficiency as commercial operations scale.

• The company expects to continue generating operating losses and net cash outflows in the near term, with future viability dependent on raising additional capital and maintaining access to borrowing facilities.

• Priorities include driving SOZO® sales, accelerating Heart Health market entry, launching body composition solutions, and leveraging expanded board expertise.