Financial Performance - Q1 FY26 - Revenue increased to $13356 million from $12245 million in Q1 FY25[34], representing an increase of approximately 9% - GAAP gross margin increased from 586% in Q1 FY25 to 615% in Q1 FY26[37] - Non-GAAP gross margin increased from 592% in Q1 FY25 to 620% in Q1 FY26[37] - GAAP operating income increased from $3873 million in Q1 FY25 to $4465 million in Q1 FY26[38] - Non-GAAP operating income increased from $4064 million in Q1 FY25 to $4821 million in Q1 FY26[38] - GAAP EPS increased from $211 in Q1 FY25 to $237 in Q1 FY26[40] - Non-GAAP EPS increased from $220 in Q1 FY25 to $255 in Q1 FY26[40] Business Segments & Regions - LTM 1Q26 - Devices accounted for 52% of revenue, Masks and Other for 36%, and RCS for 12%[8] - U S, Canada, & Latin America accounted for 58% of revenue, Europe, Asia, & Other for 30%, and RCS (U S & Germany) for 12%[10] Financial Strength - Free cash flow totaled approximately $18 billion for LTM Q1 FY26[50], up approximately 31% year-over-year[50] - The company has a net cash position of $715 million as of Q1 FY26[50]

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]

Core Insights - Resmed Inc. reported a strong start to fiscal year 2026, with a 9% year-over-year revenue growth and significant improvements in gross margins and earnings per share [2][3][5] Financial Performance - Revenue for the quarter ended September 30, 2025, was $1,335.6 million, up from $1,224.5 million in the same quarter of 2024, reflecting a 9% increase [4][5][21] - Non-GAAP gross margin improved by 280 basis points to 62.0%, while GAAP gross margin increased by 290 basis points to 61.5% [5][21] - Non-GAAP diluted earnings per share rose by 16% to $2.55, compared to $2.20 in the prior year [5][19] Operational Highlights - Income from operations increased by 15% to $446.5 million, with non-GAAP income from operations rising by 19% to $482.1 million [5][19] - Operating cash flow for the quarter was $457 million, indicating strong cash generation capabilities [5][17] - The company declared a quarterly cash dividend of $0.60 per share, payable on December 18, 2025 [8] Market and Product Insights - Revenue growth was driven by increased demand for sleep devices, masks, and accessories, with U.S., Canada, and Latin America revenue growing by 10% [9][21] - The company launched the Sleep Institute to promote sleep health as a public health priority and published a study projecting a significant increase in obstructive sleep apnea cases by 2050 [9][11] Strategic Initiatives - Resmed is committed to ongoing operational excellence and strategic investments in innovation to ensure sustainable growth [4][9] - The company recorded $16 million in restructuring-related charges as part of workforce planning aligned with its 2030 strategic priorities [9]

Core Insights - Analysts project ResMed (RMD) will report quarterly earnings of $2.49 per share, reflecting a 13.2% year-over-year increase, with revenues expected to reach $1.32 billion, an 8.1% increase from the same quarter last year [1]. Earnings Estimates - There has been a downward revision of 0.1% in the consensus EPS estimate over the last 30 days, indicating a collective reconsideration by analysts [2]. - Revisions to earnings projections are crucial for predicting investor behavior and are strongly linked to short-term stock price performance [3]. Revenue Projections - The consensus estimate for 'Global revenue- Total Sleep and Breathing Health' is $1.15 billion, representing an 8.1% increase year-over-year [5]. - 'Global revenue- Residential Care Software' is forecasted to reach $170.38 million, indicating an 8.7% increase from the prior year [5]. - 'Global revenue- Total Devices' is estimated at $666.36 million, reflecting a 6.5% year-over-year change [5]. Regional Revenue Insights - 'Global revenue- Total Masks and other' is projected at $484.35 million, showing a 9.6% increase from the previous year [6]. - 'U.S., Canada, and Latin America- Devices' is expected to reach $409.20 million, with a year-over-year change of 6.4% [6]. - 'U.S., Canada, and Latin America- Masks and other' is likely to be $355.76 million, indicating a 10.2% increase year-over-year [7]. - 'Combined Europe, Asia, and other markets- Total' is estimated at $385.76 million, reflecting a 7% year-over-year change [7]. - 'Combined Europe, Asia, and other markets- Devices' is projected at $257.17 million, indicating a 6.6% increase from the prior year [8]. - 'Combined Europe, Asia, and other markets- Masks and other' is expected to reach $128.59 million, suggesting a 7.9% year-over-year change [8]. - 'U.S., Canada, and Latin America- Total' is projected to be $764.96 million, reflecting an 8.2% increase year-over-year [9]. Stock Performance - Over the past month, shares of ResMed have returned -6.3%, contrasting with the Zacks S&P 500 composite's +3.8% change [9]. - ResMed currently holds a Zacks Rank 3 (Hold), indicating that its performance may align with the overall market in the near future [9].

Group 1 - The article highlights the shift in the global economic landscape, emphasizing the increasing strategic positioning of foreign capital in China, with many international institutions raising their growth forecasts for the Chinese economy [1] - There has been a significant rebound in private equity merger and acquisition activities in the Asia-Pacific region since 2024, indicating a potential surge in transaction activity in 2025, driven by corporate investors [1] - Long-term capital from sovereign wealth funds in the Middle East and family offices in Southeast Asia is increasingly investing in key sectors in China, such as technology manufacturing, energy transition, and consumption upgrades [1] Group 2 - The Asia Pacific Fortune Forum 2025 (APFOF 2025) will be held in Sydney, Australia, from November 12 to 14, focusing on enhancing economic cooperation in the Asia-Pacific region and promoting efficient global capital flow [2] - The forum will gather over 500 foreign LPs, global business and political leaders, and quality innovative projects from various regions, including Australia, the US, Europe, and Asia [2] Group 3 - The confirmed attendees include prominent figures such as the Australian Federal Minister for Justice, the head of the Australian Trade Commission, and investment directors from major financial institutions, indicating a high-profile gathering [9][10][12] - The forum will cover various sectors, including healthcare, technology, clean energy, and agriculture, showcasing innovative companies and investment opportunities [41][49][59] Group 4 - The event is organized by APFOF and co-organized by FOFWEEKLY and Shiny Fund, which focus on private equity and fund management, aiming to create a bridge for global capital markets [67][68] - The forum will feature a limited number of VIP attendees, with specific pricing for participation, indicating an exclusive networking opportunity [70][72]

Core Viewpoint - Resmed plans to release its financial and operational results for Q1 of fiscal year 2026 on October 30, 2025, after market close, followed by a management webcast to discuss the results and other relevant information [1]. Group 1: Earnings Release Details - The earnings release will occur on October 30, 2025, after the New York Stock Exchange closes [1]. - A webcast will be hosted by Resmed management to discuss the results and other forward-looking information [1]. - A replay of the earnings webcast will be available on Resmed's investor relations website approximately two hours after the live event [2]. Group 2: Company Overview - Resmed is dedicated to creating innovative health technologies aimed at improving the quality of life for individuals in 140 countries [2]. - The company focuses on AI-powered digital health solutions, cloud-connected devices, and intelligent software to enhance home healthcare [2]. - Resmed envisions a future where individuals can achieve better sleep and breathing through personalized care delivered at home [2].

Group 1: Company Overview - Mineral Resources Limited (MIN) is a diversified Australian mining company focused on lithium and iron ore extraction in Western Australia [1][2] - ResMed (RMD) specializes in medical equipment, particularly cloud-connectable CPAP machines for treating obstructive sleep apnea, and is headquartered in San Diego, California [3][4] Group 2: Business Operations - MIN provides mining and engineering services through its subsidiary, CSI Mining Services, which operates across Western Australia, Queensland, and the Northern Territory [2] - ResMed operates two main business units: Sleep and Respiratory Care, and Software as a Service (SaaS), offering both medical equipment and software solutions for out-of-hospital care [4][5] Group 3: Financial Performance - MIN has experienced a revenue growth rate of 12.2% per year since 2021, reaching $5,278 million in FY24, but net profit has decreased from $1,270 million to $125 million, with a reported ROE of 3.2% [6][7] - RMD has seen a revenue growth rate of 13.6% per year since 2021, achieving $4,685 million in FY24, with net profit increasing from $475 million to $1,021 million, and a reported ROE of 22.7% [7]

Company Overview - ResMed is a global leader in cloud-connected and digital health, focusing on three verticals: Sleep Health, Breathing Health, and Health Care Technology delivered in the home [3] - The company has sold 13 million 100% cloud-connectable medical devices across 140 countries, emphasizing the significance of the bedside table as a critical location for health technology [4] Data and Achievements - ResMed has accumulated 23 billion nights of respiratory medical data from its devices, showcasing its extensive reach and data collection capabilities in the healthcare sector [4] - Founded in 1989, ResMed has established itself as a major player in the healthcare technology market [4]

ResMed Conference Call Summary Company Overview - **Company**: ResMed (NYSE:RMD) - **Industry**: Digital health and medical devices, focusing on sleep health, breathing health, and healthcare technology delivered at home - **Headquarters**: San Diego, California - **Founded**: 1989 - **Market Presence**: Sold 30 million cloud-connectable medical devices in 140 countries, with 23 billion nights of respiratory medical data collected [5][6] Core Strategies and Goals - **ResMed 2030 Strategy**: Aims to improve 500 million lives by 2030 through innovative products and services [6][7] - **Recent Achievements**: Changed 154 million lives in the last 12 months with devices and software [7] - **Product Development**: Focus on creating the smallest, quietest, and most comfortable devices, with a strong emphasis on cloud connectivity and intelligence [7][10] Financial Performance - **Free Cash Flow**: Generated over $1.7 billion in free cash flow in the last 12 months [9] - **Gross Margin Improvement**: Achieved 230 basis points year-on-year gross margin accretion in Q4 and 150 basis points quarter-on-quarter [9][10] - **Net Operating Profit Margins**: Currently in the range of 33-34% [10] Innovation and Product Development - **New Products**: Launched innovative products like the AirTouch N30i and AirFit F40, incorporating fabric into patient interfaces [11] - **Acquisitions**: Acquired Ectosense for its home sleep testing technology and Virtuox for home sleep apnea testing [12][57] - **Research Utilization**: Leveraging 23 billion nights of data to improve products and contribute to peer-reviewed research [13][14] Market Dynamics and Competitive Landscape - **Tariff Relief**: ResMed products benefit from tariff relief under the Nairobi Protocol, ensuring no tariffs on products made in various locations [12] - **Competitor Landscape**: Competitors have been affected by recalls, but ResMed remains confident in its market position and growth potential [47][48] - **Market Growth**: The device market is expected to grow mid-single digits, with ResMed aiming to exceed this through demand generation efforts [58] Patient Engagement and Adherence - **Adherence Rates**: Connected devices have increased adherence from 50% to 73%, and with app usage, adherence can reach 87% [14][20] - **GLP-1 Drug Impact**: Patients on GLP-1 weight loss drugs are 11% more likely to start CPAP therapy and show higher resupply rates [24][25] - **Patient Empowerment**: Focus on educating patients about access to equipment and the importance of adherence to therapy [20][23] Research and Development - **Investment in R&D**: ResMed invests 6-7% of revenues back into research and development to drive innovation [55] - **Future Growth**: Aiming for double-digit basis point improvements in gross margins annually through supply chain optimization and product innovation [63][64] Conclusion - ResMed is positioned as a leader in the digital health space, with a strong focus on innovation, patient engagement, and financial performance. The company is actively working to expand its market presence and improve patient outcomes through its 2030 strategy and ongoing product development initiatives.

Group 1: Company Overview - ResMed, founded in 1989, specializes in medical equipment for treating obstructive sleep apnea and is headquartered in San Diego, California [2] - The company operates in over 140 countries with more than 10,000 employees and has two main business units: Sleep and Respiratory Care, and Software as a Service (SaaS) [3] - Netwealth is a wealth management software business with over 140,000 account holders and $88 billion in funds under administration as of 2024 [5] Group 2: Business Operations - ResMed provides cloud-connectable CPAP machines and ventilation solutions, while its SaaS unit supports durable medical equipment for out-of-hospital care [3][4] - Netwealth offers a user-friendly online platform that allows users to manage investments, track performance, and access financial reports [6] Group 3: Financial Performance - ResMed's revenue has grown at a rate of 13.6% per year since 2021, reaching $4,685 million in FY24, with net profit increasing from $475 million to $1,021 million [8] - Netwealth has seen a revenue growth rate of 20.8% per year over the last three years, hitting $255 million in FY24, while net profit rose from $54 million to $83 million [8] - ResMed's return on equity (ROE) is reported at 22.7%, while Netwealth's ROE stands at 62.3% [8]