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SomnoMed Announces Core Revenue Growth up 13% in Q2

29th January 2019, SomnoMed Limited (ASX:SOM) announced that its core revenues grew by 13% in the second quarter compared to the prior year, reaching $15.675 million for the three months period. All regions within the core business generated increased revenue, with the US recording revenue growth of 10% for the quarter. Total group revenues decreased by 3% for the quarter, due to Renew Sleep Solutions (“RSS”) business revenues declining by 52% in its final quarter of operations.

The North American core business revenue growth of 10% confirms the view that this region will continue to recover and grow again in the wake of the RSS closure. We remain optimistic that new sales and marketing approaches will see this growth continue as new sales opportunities and channels are explored and confidence is rebuilt in that market.

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