ImpediMed (ASX:IPD) has signalled a sharper focus on sales execution and market expansion following a strong finish to the financial year 2025, underpinned by record contract value, growing reimbursement coverage in the US, and advancing opportunities in lymphoedema, body composition and heart failure.
The company’s SOZO digital health platform, which uses bioimpedance spectroscopy (BIS) to measure and monitor fluid and tissue composition non-invasively, is now cleared by the US Food and Drug Administration for multiple indications, including lymphoedema, heart failure, and body composition.
With more than 1,000 devices deployed globally, ImpediMed is positioning SOZO as a platform technology with multi-application potential across oncology, cardiology and metabolic health.
In the fourth quarter, the company reported a record total contracted value of $6.3 million, quarterly revenue of $3.3 million, and annual recurring revenue of $14 million. Operating cash outflow was $3.5 million, with a $22.2 million cash balance, equivalent to 6.3 quarters of operating cash flow. Cost reductions of 16 per cent versus the previous financial year exceeded expectations.
Sales momentum strengthened with 44 SOZO units sold in the US, including a nine-unit contract with Legacy Health. Churn remains below 3 per cent annually, and contract renewals increased total contract value by 13 per cent in the quarter. The company has also strengthened its sales leadership, appointing Scott Long as SVP of Sales and adding key account executives with breast cancer experience.
Lymphoedema remains ImpediMed’s core market, supported by 87 per cent reimbursement coverage across the US and guideline inclusion in the National Comprehensive Cancer Network and the National Accreditation Program for Breast Centers standards. SOZO is now in 18 of the top 25 US hospitals, including Mayo Clinic, Cleveland Clinic and Mass General, with expansion driven through master service agreements across 27 integrated delivery networks. Demand is underpinned by evidence showing early detection can prevent progression to chronic lymphoedema in 92 per cent of patients.
The company has also initiated measured expansion into the fast-growing body composition market, driven by the rapid uptake of GLP-1 weight loss therapies. With an estimated US$350 million total addressable market in GLP-1-related body composition scans alone, SOZO is currently the only bioimpedance device with FDA clearance to assess body composition in an unhealthy patient population.
In heart failure, ImpediMed is targeting a US$1.1 billion market opportunity, supported by its unique regulatory clearance to assess patients with cardiac implantable devices. Following a soft launch in Australia and early trial activity in the US, the company plans to expand its go-to-market strategy in 2026.