SomnoMed Limited Provides Earnings Guidance for the Second Half of Fiscal Year 2022 and Reaffirms Earnings Guidance for the Fiscal Year 2022
The company reaffirmed the company's commitment to the guidance given for fiscal year 2022 by driving revenue growth, utilizing cash for purpose-driven and market needed innovative solutions for the company's customers and staying true to the company's mantra, treatment-focused and technology-driven. The highlight really is the ability of the group to maintain its gross margin percentage in spite of the impact of COVID, and therefore, the company need to convert the sale increase into margin that support the investments in R&D, systems and teams, which, in turn, underpin the upcoming inbuilt device technology. This led to an EBITDA in line with year-end guidance, just about breakeven at $4.2 million.