ResMed(RMD) - 2026 Q1 - Quarterly Results

Financial Performance - Revenue for the first quarter of fiscal year 2026 increased by 9% year-over-year to $1.335 billion, with an 8% increase on a constant currency basis[5] - Diluted earnings per share rose by 12% to $2.37, while non-GAAP diluted earnings per share increased by 16% to $2.55[12] - Income from operations increased by 15% to $446.5 million, with non-GAAP income from operations up 19% to $482.1 million[5] - Net income for the three months ended September 30, 2025, was $348,536,000, an increase of 12% from $311,355,000 in the same period of 2024[21] - Total revenue for the three months ended September 30, 2025, was $1,335,582,000, representing a 9% increase from $1,224,509,000 in 2024[23] - Non-GAAP diluted earnings per share increased to $2.55 in Q3 2025, compared to $2.20 in Q3 2024[25] Cash Flow and Financial Position - Operating cash flow for the quarter was $457 million, reflecting strong financial performance[12] - Total cash and cash equivalents at the end of the period increased to $1,383,848,000 from $426,361,000 at the end of the same period in 2024[21] - Cash flows from operating activities for Q3 2025 were $457,321,000, up from $325,538,000 in Q3 2024[21] - The company reported a net cash used in investing activities of $(52,578,000) for Q3 2025, compared to $2,146,000 in the same period of 2024[21] - The company’s total cash outflow from financing activities was $(230,274,000) in Q3 2025, compared to $(150,757,000) in Q3 2024[21] Market Performance - Revenue in the U.S., Canada, and Latin America grew by 10%, while revenue in Europe, Asia, and other markets increased by 6% on a constant currency basis[8] - Revenue from devices in the U.S., Canada, and Latin America was $413.4 million, an 8% increase from $384.5 million in the prior year[28] - Total revenue from masks and other products in the same region rose by 12% to $361.3 million from $322.8 million[28] Strategic Initiatives - The company declared a quarterly cash dividend of $0.60 per share, payable on December 18, 2025[10] - Resmed recorded $16 million in restructuring-related charges due to workforce planning activities aligned with its 2030 strategic priorities[8] - The company launched the Sleep Institute to promote independent research and elevate sleep health as a public health priority[12] - Resmed received dual Red Dot Product Design 2025 awards for the AirTouch N30i, highlighting its commitment to patient-centered innovation[12] Margins and Efficiency - Non-GAAP gross margin expanded by 280 basis points to 62.0%, driven by manufacturing efficiencies and component cost improvements[5] - GAAP gross margin improved to 61.5% in Q3 2025, up from 58.6% in Q3 2024[23]