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Somnomed Ltd ASX:SOM

0 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 1 managers in total.

Position history by manager 1 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

31 Mar 2026 to today

Commentary Showing 2 of 3

DateManagerActionSummary

15 Oct 2026Naos Asset ManagementHeldNAOS Asset Management continues to hold SomnoMed (ASX:SOM), which makes oral devices that treat sleep apnoea by moving the jaw slightly forward. CIO Sebastian Evans contrasts this with CPAP machines, noting around half of CPAP users abandon treatment because it is too invasive. NAOS notes SomnoMed has grown revenue every year for a decade, though profitability has been an issue that new executives, including a former ResMed hire, are now focused on addressing. Evans disputes the view that GLP-1 weight-loss drugs threaten the sector, believing weight loss may make some patients treatable who previously were not.

Medical DevicesArticle

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30 Jun 2026Naos Asset ManagementHeldNaos Asset Management continues to hold SomnoMed, describing it as a rather quiet position since its 1H FY26 result in February. The manager expects the full-year FY26 results to be of added significance, anticipating FY27 guidance consistent with prior years, and is hoping for an update on the Rest Assure product and its commercialisation timeline.

Medical DevicesQuarterly Report, price recorded $0.52

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Price at first mentionThe share price recorded when each of 1 managers first commented on SOM.

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About Somnomed Ltd

Healthcare, Healthcare Equipment and Supplies

SomnoMed (ASX:SOM), a developer of oral devices for sleep apnoea, is a NAOS Asset Management investment awaiting key updates. In June 2026, NAOS said SomnoMed had been relatively quiet since its first-half FY26 result, making the full-year result more significant, with FY27 guidance and an update on its Rest Assure product and its commercialisation expected. In March 2026, NAOS described SomnoMed as a global leader in custom-fitted oral appliances for obstructive sleep apnoea, noting it reaffirmed revenue guidance of at least $119 million, up from about $64 million in FY18. SomnoMed operates in the Healthcare sector within the Healthcare Equipment and Supplies industry, and Thesis Tracker has captured 2 comments from 2 fund managers, including NAOS. Founded in 2004 and headquartered in Sydney, SomnoMed designs and manufactures custom oral devices for treating sleep apnoea and snoring, sold through dentists and sleep physicians in North America, Europe and Asia Pacific.

Market cap: $55m
Price to earnings: Loss-making
Return on equity: -5.7%
Dividend yield: 0.0%
Price to book: 1.57x
Net margin: -2.3%
52-week range: $0.25 to $0.95

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Somnomed Ltd (ASX:SOM)?

Fund managers including NAOS Asset Management and Naos Asset Management have invested in Somnomed Ltd (ASX:SOM).

What opportunities or catalysts do fund managers highlight for Somnomed Ltd?

NAOS highlights strong long-term revenue growth, reaffirmed guidance above $119 million and the commercial potential of its Rest Assure product, which could position SomnoMed as a first-line sleep apnoea treatment.

What are the key risks to the Somnomed Ltd investment thesis, according to fund managers?

NAOS notes SomnoMed has been quiet since its half-year result, so FY27 guidance and Rest Assure progress are key, and it competes with CPAP devices such as ResMed's.

What does Somnomed Ltd (ASX:SOM) do?

SomnoMed Ltd., founded in 2004 and headquartered in Sydney, Australia, specializes in developing and distributing oral devices for treating sleep-related disorders. The company’s product portfolio includes SomnoDent, SomMorning Repositioner, SomnoBrux, SomTabs, and the Sunrise Sleep Test. SomnoMed operates globally, managing business segments across North America, Europe, and the Asia Pacific region. The firm provides medical technology solutions focused on the clinical management of obstructive sleep apnea and related sleep conditions.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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