The 2015/16 financial year was another successful year for our company. Our revenues grew by 29% to $44 million and 59,000 devices were sold during the year. Direct sales for the year grew by 22.6%, whilst sales through North American licensees dropped by 47%.
SomnoMed recorded excellent growth in North American direct sales, which were up by 27.7%. In Europe unit growth accelerated, with 20.6% year on year, whilst APAC and Japan recorded growth of 6.5% in unit sales.
Our underlying EBITDA increased by 140% to $2.1 million before $625,000 in expenses relating primarily to start-up and legal costs connected with the acquisition of the Simple Sleep Services, LLC (“S3”) business model and establishment of SCA and expenses relating to the recruitment of SCA’s CEO and SomnoMed’s new global CEO.
During the year we concluded the acquisition of Strong Dental, which is now fully integrated and operating as SomnoMed Canada, and we acquired the 50% of SMH Biomaterial AG, which was held by our German partner.
For further information please download PDF attached:
Download this document
