The company has issued more shares over this period, which dilutes each existing shareholder’s stake.
Diluted shares outstanding: 1.20B (2021) → 2.02B (2025)
Operating as a medical software technology provider, ImpediMed Limited is responsible for the development, production, and global sales of bioimpedance spectroscopy (BIS) instruments and accompanying software solutions, serving markets in Australia, North America, and internationally. Its product portfolio features SOZO, a non-invasive BIS device used for evaluating lymphedema and tracking fluid levels in heart failure patients. Additionally, it offers the SFB7, a single-channel, tetrapolar BIS instrument for analyzing body composition in healthy individuals, and ImpediVET, another single-channel, tetrapolar BIS device specifically designed for veterinary applications to measure fluid status and tissue composition. ImpediMed primarily sells its technology to hospitals and clinics. This Australian-headquartered firm, based in Pinkenba, was established in 1999.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
+25.1% YoY
YoY Growth Rate
Revenue accelerating
-9.1% YoY
YoY Growth Rate
Earnings declining
A$150,000/ year
↓ Declining (-32% vs prior year)
1.2% of revenue
Below sector average (18%)
R&D spend declining — could signal cost-cutting or efficiency
~3 months
A$19M cash & investments
Quarterly Free Cash Flow
↓ Burn rate worsening
Short runway — potential dilution ahead through share issuance
ImpediMed Limited grew revenue 25% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.
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Negative ROIC means the business is losing money on every dollar invested in it.
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Free cash flow is negative. They are burning cash, not generating it.
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