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Impedimed Limited (AU:IPD)
ASX:IPD

Impedimed Limited (IPD) AI Stock Analysis

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AU:IPD

Impedimed Limited

(Sydney:IPD)

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Neutral 48 (OpenAI - 4o)
Rating:48Neutral
Price Target:
AU$0.04
▼(-12.50% Downside)
Impedimed Limited's overall stock score is primarily impacted by its financial performance challenges, including profitability and cash flow issues. The technical analysis and valuation further contribute to a cautious outlook. However, positive developments in reimbursement coverage and revenue growth provide some optimism, as highlighted in the earnings call.
Positive Factors
Revenue Growth
The strong revenue growth indicates increasing market adoption of Impedimed's products, which can lead to sustained business expansion and improved financial performance over the long term.
Reimbursement Coverage
Expanded reimbursement coverage enhances the accessibility and attractiveness of Impedimed's products, potentially driving higher sales and market penetration in the healthcare sector.
Market Position in U.S. Hospitals
Strong presence in leading U.S. hospitals underscores Impedimed's competitive advantage and credibility, supporting long-term growth and partnerships in the healthcare market.
Negative Factors
Profitability Challenges
Ongoing profitability issues can hinder Impedimed's ability to reinvest in growth initiatives and may affect its financial stability over the long term.
Cash Flow Concerns
Negative operating and free cash flow indicate cash outflows from operations, which can limit Impedimed's financial flexibility and ability to fund future growth.
Challenges in U.S. Sales
Delays in U.S. sales could impact revenue growth and market expansion efforts, potentially affecting Impedimed's competitive position in a key market.

Impedimed Limited (IPD) vs. iShares MSCI Australia ETF (EWA)

Impedimed Limited Business Overview & Revenue Model

Company DescriptionImpediMed Limited, a medical software technology company, develops, manufactures, and sells bioimpedance spectroscopy (BIS) devices and software services in Australia, North America, and internationally. The company offers SOZO, a noninvasive BIS device for the assessment of lymphedema and fluid status monitoring of heart failure patients; SFB7, a single-channel, tetrapolar BIS device to analyze body composition in healthy individuals; and ImpediVET, a single-channel, tetrapolar (BIS) device that measures fluid status and tissue composition for veterinary applications. It sells its devices to hospitals and clinics. The company was incorporated in 1999 and is headquartered in Pinkenba, Australia.
How the Company Makes MoneyImpedimed generates revenue primarily through the sale of its medical devices and related software solutions. The company operates a recurring revenue model by offering subscription services for its SOZO platform, which provides ongoing monitoring and data analytics for healthcare providers. Additionally, revenue is supplemented through partnerships with hospitals and clinics, which often involve training and support services for the implementation of its technology. Key partnerships with healthcare institutions and participation in clinical studies also enhance its market reach and credibility, contributing to its earnings.

Impedimed Limited Earnings Call Summary

Earnings Call Date:Oct 30, 2025
(Q1-2026)
|
% Change Since: |
Next Earnings Date:Feb 20, 2026
Earnings Call Sentiment Neutral
The call presented a mixed sentiment with significant achievements in reimbursement coverage and revenue growth. However, these positives were balanced by challenges in U.S. sales, cash flow concerns, and impacts from currency fluctuations.
Q1-2026 Updates
Positive Updates
Increased Reimbursement Coverage
Reimbursement coverage for BIS as medically necessary has expanded significantly, with states having over 90% coverage increasing from 7% to 27% since June 30.
Record Revenue Achievement
Achieved a record quarterly revenue of $3.6 million, representing a 33% year-on-year increase.
Strong Position in U.S. Hospitals
SOZO devices are now in 18 of the top 25 U.S. hospitals, with over 600 devices across the U.S. healthcare system.
Positive Trends in Heart Failure and Body Composition
Heart failure and body composition segments are on track with promising commercial pilots and market interest.
Negative Updates
Decline in Cash Receipts
Cash receipts from customers decreased by 11% quarter-on-quarter due to timing of receipts.
Challenges in U.S. Sales
U.S. sales were softer than anticipated, with several deals delayed and not finalized during the quarter.
Operating Cash Flow Concerns
Reported an operating cash flow of $5.6 million, inflated by a one-off $1.1 million payment for electronic components.
Impact of Currency Fluctuations
The strengthening Australian dollar had an unfavorable impact on cash and annual recurring revenue.
Company Guidance
During the call, ImpediMed provided several key metrics and insights regarding their performance and future outlook. The company reported an operating cash flow of $5.6 million for the quarter, influenced by a one-off payment of $1.1 million for electronic components. Cash receipts from customers were $3.4 million, down from the previous quarter's $3.8 million due to timing of receipts. The company's cash balance stood at $23 million, equating to 4.1 quarters of operating cash flow. Total contract value (TCV) for the quarter was $4.7 million, and annual recurring revenue (ARR) was $14.4 million, marking a 24% year-on-year increase. Additionally, the company highlighted a significant increase in reimbursement coverage, with states having over 80% coverage jumping from 25% to 42%, and those with over 90% coverage nearly quadrupling from 7% to 27% since June 30. Despite a softer quarter for U.S. sales, ImpediMed remains optimistic for a rebound, supported by strategic expansions in heart failure and body composition markets. They also emphasized the importance of maintaining financial discipline and the ongoing focus on maximizing revenue across their largely fixed cost base.

Impedimed Limited Financial Statement Overview

Summary
Impedimed Limited faces significant financial challenges. Despite revenue growth, the company struggles with profitability and cash flow generation. The balance sheet is relatively stable with low leverage, but the negative return on equity and cash flow issues highlight the need for improved operational efficiency and cost management.
Income Statement
45
Neutral
Impedimed Limited shows a mixed performance in its income statement. The company has achieved a revenue growth rate of 10.23% in the latest year, indicating positive sales momentum. However, the company struggles with profitability, as evidenced by negative net profit margins and EBIT margins. The gross profit margin remains high at 86.25%, suggesting efficient cost management at the gross level, but the overall profitability is hindered by high operating expenses.
Balance Sheet
50
Neutral
The balance sheet of Impedimed Limited reflects moderate financial stability. The debt-to-equity ratio is relatively low at 0.71, indicating manageable leverage. However, the return on equity is negative, highlighting challenges in generating returns for shareholders. The equity ratio is not explicitly provided, but the company maintains a reasonable level of equity compared to its assets.
Cash Flow
40
Negative
The cash flow statement reveals significant challenges for Impedimed Limited. The company has negative operating cash flow and free cash flow, indicating cash outflows from operations. The free cash flow to net income ratio is slightly above 1, suggesting that the company is generating some cash relative to its net losses. However, the negative free cash flow growth rate of -20.73% indicates worsening cash flow conditions.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue11.54M12.72M10.32M11.34M10.57M8.41M
Gross Profit10.14M10.97M9.01M-13.65M-13.35M-12.20M
EBITDA-21.08M-17.55M-22.05M-20.49M-18.65M-20.70M
Net Income-21.22M-23.24M-19.79M-20.52M-19.87M-20.71M
Balance Sheet
Total Assets39.19M41.66M46.99M68.74M58.70M34.20M
Cash, Cash Equivalents and Short-Term Investments17.69M22.18M24.63M45.71M40.73M19.68M
Total Debt1.05M14.49M1.14M1.45M170.00K474.00K
Total Liabilities6.87M21.16M6.24M7.86M7.66M8.69M
Stockholders Equity32.32M20.50M40.74M60.88M51.04M25.51M
Cash Flow
Free Cash Flow-19.72M-15.63M-20.89M-24.09M-20.89M-15.71M
Operating Cash Flow-18.29M-14.64M-17.79M-18.05M-15.66M-13.26M
Investing Cash Flow-2.02M-989.00K-3.10M-6.04M-5.22M-2.46M
Financing Cash Flow-462.00K13.64M-481.00K27.93M39.92M16.47M

Impedimed Limited Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.04
Price Trends
50DMA
0.04
Negative
100DMA
0.04
Negative
200DMA
0.04
Negative
Market Momentum
MACD
>-0.01
Negative
RSI
47.71
Neutral
STOCH
38.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:IPD, the sentiment is Negative. The current price of 0.04 is above the 20-day moving average (MA) of 0.04, below the 50-day MA of 0.04, and above the 200-day MA of 0.04, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 47.71 is Neutral, neither overbought nor oversold. The STOCH value of 38.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:IPD.

Impedimed Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
50
Neutral
AU$70.02M-5.38-31.98%34.20%-23.90%
50
Neutral
AU$61.51M-46.38-6.35%2.23%-263.16%
48
Neutral
$77.42M-74.00%23.31%-17.35%
44
Neutral
AU$171.94M-16.13-70.55%-257.32%
43
Neutral
AU$40.59M-44.16%25.47%14.08%
41
Neutral
AU$58.77M-128.19%-14.25%-22.83%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:IPD
Impedimed Limited
0.04
-0.02
-33.93%
AU:EYE
Nova Eye Medical
0.14
0.00
0.00%
AU:CMP
Compumedics Limited
0.36
0.10
38.46%
AU:CYC
Cyclopharm Limited
1.00
-0.65
-39.21%
AU:MX1
Micro-X Ltd.
0.09
<0.01
12.50%
AU:EMV
EMvision Medical Devices Ltd.
1.80
-0.17
-8.63%

Impedimed Limited Corporate Events

ImpediMed Expands U.S. Insurance Coverage for Lymphoedema Assessment
Dec 3, 2025

ImpediMed Limited has announced that additional U.S. insurers have initiated coverage for the use of bioimpedance spectroscopy (BIS) for lymphoedema assessment, expanding reimbursement to over 314 million covered lives. This development marks a significant milestone in providing broader access to early detection and monitoring of lymphoedema, enhancing patient care and potentially reducing long-term complications. The expanded insurance coverage is expected to boost the commercial viability of ImpediMed’s SOZO platform, facilitating its adoption and supporting the company’s mission to improve health outcomes for cancer patients at risk of lymphoedema.

ImpediMed Strengthens Financial Position with R&D Tax Incentive Refund
Nov 24, 2025

ImpediMed Limited has received a $1.2 million R&D tax incentive refund for its research and development activities, which bolsters its cash position and supports the ongoing development and commercialization of its SOZO platform. The company’s cash balance at the end of Q2 FY26 was $23.0 million, indicating a strong financial position that aids its growth in the digital health market, particularly in cancer-related lymphoedema.

ImpediMed Limited Successfully Concludes Annual General Meeting with All Resolutions Passed
Nov 18, 2025

ImpediMed Limited held its Annual General Meeting where all proposed resolutions were passed, including the remuneration report and the re-election of board members Ms. Christine Emmanuel-Donnelly and Mr. McGregor Grant. The successful passage of these resolutions indicates strong shareholder support and stability in the company’s governance, which could positively impact its strategic direction and stakeholder confidence.

ImpediMed’s 2025 AGM: Advancing Healthcare Standards
Nov 18, 2025

ImpediMed Limited announced the CEO’s presentation for the 2025 Annual General Meeting, highlighting the company’s commitment to advancing healthcare standards through its proprietary technology. This announcement underscores ImpediMed’s strategic focus on enhancing its market position by setting new benchmarks in patient care, potentially impacting stakeholders by reinforcing the company’s leadership in medical technology innovation.

Impedimed Limited Reports Strong Growth and Strategic Focus at 2025 AGM
Nov 18, 2025

Impedimed Limited’s 2025 Annual General Meeting highlighted significant achievements, including a 23% revenue growth and increased payor coverage in 26 states, which is expected to boost BCRL sales. The company is strategically investing in sales capabilities and refining processes to enhance SOZO device utilization. The SOZO digital health platform, with FDA-cleared applications, presents substantial opportunities in heart failure and body composition markets, valued at $1.1 billion and $600 million respectively. The board supports exploring collaborations and acquisitions to maximize the platform’s value, while cost resizing efforts aim to secure future success.

ImpediMed Director Increases Shareholding in Strategic Move
Nov 6, 2025

ImpediMed Limited announced a change in the director’s interest notice, revealing that Mr. Andrew Grant, a director, has increased his holdings in the company by acquiring 98,347 ordinary shares. This acquisition was made in lieu of 15% of his director fees for the quarter ended 30 September 2025, reflecting a strategic move to align interests with the company’s performance. This development may indicate confidence in the company’s future prospects and could potentially impact stakeholder perceptions positively.

ImpediMed Director Increases Stake Through Share Acquisition
Nov 6, 2025

ImpediMed Limited announced a change in the director’s interest, with Ms. Christine Emmanuel-Donnelly acquiring additional ordinary shares through IDEAHL Pty Ltd. The acquisition was made in lieu of 15% of director fees for the quarter ended 30 September 2025, reflecting a strategic move to align director compensation with company performance. This change in shareholding may impact the company’s governance and stakeholder confidence by demonstrating the director’s commitment to the company’s growth and success.

ImpediMed Director Increases Shareholding Through Fee Conversion
Nov 6, 2025

ImpediMed Limited has announced a change in the interests of its director, Ms. Janelle Delaney, who has acquired an additional 98,347 ordinary shares, bringing her direct holdings to 1,881,481 shares. This acquisition was made through the issuance of shares in lieu of 15% of her director fees for the quarter ended September 30, 2025. The announcement reflects the company’s ongoing practices in managing director compensation and may have implications for shareholder perceptions of director alignment with company performance.

Impedimed Director Increases Shareholding Through Fee Conversion
Nov 6, 2025

Impedimed Limited announced a change in the director’s interest, with Fiona Bones acquiring 98,347 ordinary shares, increasing her total holdings to 1,872,746 shares. This acquisition was part of an issue of shares in lieu of 15% of director fees for the quarter ended 30 September 2025, indicating a strategic move to align director interests with company performance.

Impedimed Limited Issues Shares to Non-Executive Directors
Nov 5, 2025

Impedimed Limited announced the issuance of 438,223 ordinary fully paid shares to its non-executive directors as part of the Non-Executive Director Share Plan, covering 30% of director fees for the quarter ending September 30, 2025. This move reflects the company’s ongoing commitment to aligning the interests of its directors with those of its shareholders, potentially impacting its market perception and stakeholder confidence positively.

Impedimed Limited Issues Shares Under Executive Share Plan
Nov 5, 2025

Impedimed Limited announced the issuance of 843,574 fully paid ordinary shares to an executive as part of their remuneration under the Executive Share Plan for the quarter ended September 30, 2025. This move reflects the company’s strategic approach to executive compensation, potentially impacting its financial operations and signaling a commitment to aligning executive interests with company performance.

ImpediMed Limited Releases Q1 FY26 Investor Presentation
Oct 29, 2025

ImpediMed Limited has released an investor presentation detailing its Q1 FY26 results, which will be delivered to investors and analysts. This announcement is part of the company’s ongoing efforts to maintain transparency with stakeholders and provide insights into its financial performance and strategic direction.

ImpediMed Reports Record Revenue and Expands Market Presence in Q1 FY26
Oct 29, 2025

ImpediMed Limited reported a record revenue of A$3.6 million for the first quarter of FY26, despite challenges such as a stronger Australian dollar and delays in hospital approvals. The company is expanding its market presence with over 600 SOZO units installed in leading US hospitals and new system agreements providing access to over 700 hospitals. The launch of SOZO Pro, the only FDA-cleared BIS device for patients with cardiac implantable devices, is expected to drive scalable growth. Despite a decrease in Total Contracted Value compared to the previous quarter, the company saw a 9% revenue increase and maintained a low churn rate, indicating strong market demand and customer retention.

ImpediMed Limited Launches Investor Hub and Prepares for Q1 FY26 Results
Oct 24, 2025

ImpediMed Limited has announced the upcoming release of its Q1 FY26 Quarterly Cash Flow Report and the launch of the ImpediMed Investor Hub. The Investor Hub is designed to improve communication and engagement with investors by providing a centralized platform for accessing company updates, ASX announcements, and strategic insights. This initiative aims to offer investors a deeper understanding of ImpediMed’s products and growth opportunities, potentially enhancing stakeholder engagement and market positioning.

ImpediMed Adjusts Board Chair Remuneration Structure
Oct 23, 2025

ImpediMed Limited announced a correction to its 2025 Remuneration Report, clarifying that the Board Chair’s fee will be paid 85% in cash and 15% in equity, aligning with the payment structure for other Non-executive Directors. This adjustment reflects the company’s commitment to transparency and consistency in its remuneration practices, which may impact stakeholder perceptions and corporate governance standards.

ImpediMed Limited Announces Details for Upcoming Online AGM
Oct 16, 2025

ImpediMed Limited has announced the details for its upcoming Annual General Meeting, which will be held online on November 18, 2025. The company has provided an online meeting guide to assist shareholders in attending and voting during the meeting, emphasizing the need for compatible browsers and necessary identification information.

Impedimed Limited Announces Cessation of Securities
Oct 13, 2025

Impedimed Limited announced the cessation of certain securities, specifically the lapse of 1,181,000 options and 7,556,058 performance rights due to unmet conditions. This announcement may impact the company’s financial structure and could influence investor perceptions regarding the company’s operational and strategic execution.

Impedimed Limited Issues 17.25 Million Unquoted Equity Securities
Oct 13, 2025

Impedimed Limited announced the issuance of 17,250,000 unquoted equity securities under an employee incentive scheme, which are not intended to be quoted on the ASX. This move could potentially strengthen the company’s employee engagement and retention strategies, while also impacting its financial structure and market positioning.

ImpediMed Gains Major US Insurance Coverage for Lymphedema Assessment
Oct 2, 2025

ImpediMed Limited announced that a major US health insurer has issued positive coverage for bioimpedance spectroscopy (BIS) under CPT Code 93702, recognizing it as medically necessary for lymphedema assessment. This development significantly expands insurance coverage for ImpediMed’s SOZO® Digital Health Platform, now covering over 301 million lives and 86% of the US population. The decision is expected to enhance the commercial viability of SOZO, allowing for earlier detection and better management of lymphedema, thus improving the quality of life for breast cancer survivors. This expanded coverage is a crucial step towards proactive health management and aligns with the insurer’s mission to provide high-quality care.

ImpediMed Limited Schedules 2025 Annual General Meeting
Sep 18, 2025

ImpediMed Limited has announced that its 2025 Annual General Meeting will be held on November 18, 2025. The company is also accepting nominations for director positions, with a deadline for submissions set for September 26, 2025. This announcement is significant for stakeholders as it outlines key governance activities and timelines, potentially impacting the company’s strategic direction and leadership.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Oct 31, 2025