Somnomed Limited (AU:SOM) has released an update.
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SomnoMed Limited reported a promising FY24 with a revenue increase of 9.6% to $91.7 million and a product gross margin of 69%, though EBITDA dropped to $0.6 million from the previous year’s $2.1 million. The company announced an expected FY25 revenue of around $100 million with EBITDA surpassing $5 million, after a strong start with revenues up 20% in the first 8 weeks. Additionally, SomnoMed is preparing to respond to the US FDA’s queries, potentially leading to a global beta market entry in 2025.
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