investorrelations@resmed.com news@resmed.com
For investors For media +1 858-221-3304 +1 619-510-1281 investorrelations@resmed.com news@resmed.com
• Q1 revenue increased by 6% to $1.4 billion; up 7% on a core constant currency basis
Q1 GAAP diluted earnings per share up 23% to $2.92; non-GAAP diluted • EPS up 14% to $2.91
• Returned more than $1.0 billion to shareholders through share repurchases and dividends during Q1
Note: A webcast of Resmed’s conference call will be available at 4:30 p.m. ET today at http://investor.resmed.com SAN DIEGO, October 29, 2026 – Resmed Inc. (NYSE: RMD, ASX: RMD) today announced results for its quarter ended September 30, 2026. “We began fiscal year 2027 with a strong first quarter, driven by continued global demand for our sleep and breathing health solutions and ongoing execution across our business,” said Resmed’s Chairman and CEO, Mick Farrell. “Year over year, we grew core constant currency revenue 7%, expanded non- GAAPgross margin by 50 basis points, and increased non-GAAPearnings per share by 14%. Our strong free cash flow and the proceeds from our divestiture of MatrixCare enabled us to both invest in innovation and return more than $1 billion to shareholders during the quarter.” “Looking ahead to the rest of fiscal year 2027, we will continue to build our core sleep and breathing health businesses by extending the reach of our digital health ecosystem and connecting more of the people worldwide who need care with life-saving treatment delivered right in their own home.” Other Business and Operational Highlights
Announced the U.S. launch of the AirTouch F40, the newest addition to • Resmed’s growing portfolio of fabric CPAP masks.
Partnered with Eight Sleep to connect its technology with Resmed sleep insights for people in the U.S. and • Australia, and with 23XI Racing NASCAR driver Tyler Reddick, following his sleep apnea diagnosis, to help others recognize the signs and seek treatment.
Financial Results and Operating Metrics (Unaudited; $ in millions, except for per share amounts)
In order to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency fluctuations, we provide certain financial information on a “constant currency basis,” which is in addition to the actual financial information presented. In order to calculate our constant currency information, we translate the current period financial information using the foreign A. currency exchange rates that were in effect during the previous comparable period. However, constant currency measures should not be considered in isolation or as an alternative to U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP. Revenue growth on a core constant currency basis, which also excludes the impact of the Noctrix acquisition and the divestiture of the MatrixCare business, was 7%.
B. See the reconciliation of non-GAAP financial measures in the table at the end of the press release.
C. Free cash flow is equal to operating cash flow less purchases of property, plant and equipment.
During the first quarter of fiscal year 2027, we revised the presentation of restructuring expenses and amortization of acquired intangibles. Restructuring expenses, which were previously presented as a separate line item within operating expenses, are now classified within cost of sales, research and development expenses, and selling, general and administrative expenses based on the function of the associated costs. D. Amortization of acquired intangibles relating to cost of sales is no longer presented as a separate line item within cost of sales. Amortization of acquired intangibles relating to operating expenses are now classified within selling, general and administrative expenses. Prior-period amounts have been reclassified to conform to the current-period presentation. See reconciliation of reclassification of prior-period amounts at the end of the press release.
Discussion of First Quarter Results All comparisons are to the prior year period unless otherwise noted
Strong revenue growth: Revenue increased 6% (7% in core constant • currency) to approximately $1.4 billion, primarily driven by strong demand across sleep devices and masks and accessories.
Global momentum: On a core constant currency basis, Americas Sleep and • Breathing Health revenue grew 7%, Rest of World Sleep and Breathing Health grew 8%, and Residential Care Software revenue increased 5%.
Healthy profitability: GAAP gross margin of 61.5%. Non-GAAP gross • margin increased 50 basis points to 62.5%, predominantly from productivity pipeline execution.
Robust earnings growth: GAAP operating margin of 32.0% and GAAP diluted earnings per share of $2.92. Non-GAAP operating margin of 35.8% and • non-GAAP diluted earnings per share of $2.91, up 14% year-over-year, predominantly attributable to strong revenue growth and gross margin improvement.
Strong cash generation: Operating cash flow totaled $422 million and free cash flow totaled • $374 million. Proceeds from the sale of MatrixCare and strong cash flows supported $1.0 billion returned to shareholders through dividends and share repurchases while maintaining investment in innovation and growth initiatives.
Dividend program The Resmed board of directors today declared a quarterly cash dividend of $0.66 per share. The dividend will have a record date of November 12, 2026, payable on December 17, 2026. The dividend will be paid in U.S. currency to holders of Resmed’s common stock trading on the New York Stock Exchange. Holders of CHESS Depositary Interests (“CDIs”) trading on the Australian Securities Exchange will receive an equivalent amount in Australian currency, based on the exchange rate on the record date, and reflecting the 10:1 ratio between CDIs and NYSE shares. The ex-dividend datewill be November 11, 2026, for common stockholders and for CDI holders. Resmed has received a waiver from the ASX’s settlement operating rules, which will allow Resmed to defer processing conversions between its common stock and CDI registers from November 11, 2026, through November 12, 2026, inclusive. Webcast details Resmed will discuss its first quarter fiscal year 2027 results on its webcast at 1:30 p.m. U.S. Pacific Time today. The live webcast of the call can be accessed on Resmed’s Investor Relations website at investor.resmed.com. Please go to this section of the website and click on the icon for the “Q1 2027 Earnings Webcast” to register and listen to the live webcast. A replay of the earnings webcast will be accessible on the website and available approximately two hours after the live webcast. In addition, a telephone replay of the conference call will be available approximately three hours after the webcast by dialing +1 877-660-6853 (U.S.)or +1 201-612-7415 (outsideU.S.) and entering the passcode 13762822. The telephone replay will be available until November 12, 2026. About Resmed Resmed (NYSE: RMD, ASX: RMD) creates life-changing health technologies that people love. We’re relentlessly committed to pioneering innovative technology to empower millions of people in 140 countries to live happier, healthier lives. Our AI-powereddigital health solutions, cloud-connected devices and intelligent software make home healthcare more personalized, accessible and effective. Ultimately, Resmed envisions a world where every person can achieve their full potential through better sleep and breathing, with care delivered in their own home. Learn more about how we’re redefining sleep health at Resmed.com and follow @Resmed. Safe harbor statement Statements contained in this release that are not historical facts are “forward-looking” statements as contemplated by the Private Securities Litigation Reform Act of 1995. These forward-looking statements – including statements regarding Resmed’s projections of future revenue or earnings, expenses, results of operations, new product development, new product launches, new markets for its products, the integration of acquisitions and success of strategic initiatives, including divestitures, our supply chain, domestic and international regulatory developments, litigation, tax outlook, and the expected impact of macroeconomic conditions of our business – are subject to risks and uncertainties, which could cause actual results to materially differ from those projected or implied in the forward-looking statements. Additional risks and uncertainties are discussed in Resmed’s periodic reports on file with the U.S. Securities & Exchange Commission. Resmed does not undertake to update its forward-looking statements. – More –
RESMED INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations (Unaudited; $ in thousands, except for per share amounts)
(1) See the reconciliation of non-GAAP financial measures in the table at the end of the press release.
During the first quarter of fiscal year 2027, we revised the presentation of restructuring expenses and amortization of acquired intangibles. Restructuring expenses, which were previously presented as a separate line item within operating expenses, are now classified within cost of sales, research and development expenses, and selling, general and administrative expenses based on the function of the associated costs. (2) Amortization of acquired intangibles relating to cost of sales is no longer presented as a separate line item within cost of sales. Amortization of acquired intangibles relating to operating expenses are now classified within selling, general and administrative expenses. Prior-period amounts have been reclassified to conform to the current-period presentation. See reconciliation of reclassification of prior-period amounts at the end of the press release.
RESMED INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited; $ in thousands)
RESMED INC. AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (Unaudited; $ in thousands)
Three Months September 30, September 30, Ended 2026 2025 ────────────────────────────────────────────────────────────────────────────── Cash flows from operating activities: Net income $ 418,413 $ 348,536 Adjustments to reconcile net income to cash provided by operating activities: Depreciation and 41,741 47,698 amortization Amortization of right-of-use 10,090 9,971 assets Stock-based compensation 29,475 21,160 costs (Gain) loss attributable to equity (1,884 ) (1,489 ) method investments (Gain) loss on equity (5,719 ) 6,190 investments (Gain) loss on divestment of (61,784 ) — subsidiaries Non-cash restructuring 6,242 — expenses Changes in operating assets and liabilities: Accounts 64,839 29,970 receivable, net Inventories (71,764 ) (14,663 ) Prepaid expenses, net deferred income (69,988 ) 2,312 taxes and other current assets Accounts payable, accrued expenses, 62,761 7,636 income taxes payable and other Net cash provided by (used in) $ 422,422 $ 457,321 operating activities Cash flows from investing activities: Purchases of property, (48,740 ) (42,965 ) plant, and equipment Patent registration (2,432 ) (2,814 ) and acquisition costs Business acquisitions, (7,487 ) (522 ) net of cash acquired Purchases of (2,721 ) (2,173 ) investments Proceeds from divestment of subsidiaries, 450,820 — net of cash divested Proceeds (payments) on maturity of 2,615 (4,104 ) foreign currency contracts Net cash provided by (used in) $ 392,055 $ (52,578 ) investing activities Cash flows from financing activities: Proceeds from issuance of 3,654 8,205 common stock, net Purchases of (936,378 ) (150,010 ) treasury stock Taxes paid related to net share (325 ) (719 ) settlement of equity awards Repayment of (250,000 ) — borrowings Dividends paid (94,954 ) (87,750 ) Net cash provided by (used in) $ (1,278,003 ) $ (230,274 ) financing activities Effect of exchange rate $ 5,034 $ (71 ) changes on cash Net increase (decrease) in (458,492 ) 174,398 cash and cash equivalents Cash and cash equivalents at 1,469,234 1,209,450 beginning of period Cash and cash equivalents at $ 1,010,742 $ 1,383,848 end of period
RESMED INC. AND SUBSIDIARIES Reconciliation of Non-GAAP FinancialMeasures (Unaudited; $ in millions, except for per share amounts) In addition to financial information prepared in accordance with GAAP, we use certain non- GAAPfinancial measures, such as non-GAAPcore constant currency basis, non- GAAPgross profit, non-GAAPgross margin, non-GAAPincome from operations, non- GAAPoperating margin, non-GAAPnet income, and non-GAAPdiluted earnings per share, in evaluating the performance of our business. We believe that these non- GAAPfinancial measures, when reviewed in conjunction with GAAP financial measures, can provide investors better insight when evaluating our performance from core operations and can provide more consistent financial reporting across periods. For these reasons, we use non-GAAPinformation internally in planning, forecasting, and evaluating the results of operations in the current period and in comparing it to past periods. These non-GAAPfinancial measures should be considered in addition to, and not superior to or as a substitute for, GAAP financial measures. We strongly encourage investors and shareholders to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Like all non-GAAP measures, non-GAAP earningsare subject to inherent limitations because they do not include all the expenses that must be included under GAAP. Non-GAAPfinancial measures as presented herein may not be comparable to similarly titled measures used by other companies. The non-GAAPfinancial measures included in this release and the accompanying tables (including within the tables that provide our detailed reconciliations to the corresponding GAAP financial measures) are adjusted for the impact of acquisitions and divestitures, amortization of acquired intangibles, restructuring and business transformation expenses, acquisition and divestment-related expenses, gains on divestment of subsidiaries, and associated tax effects, in addition to the tax effect of interest and penalties on tax refunds. We have not included a reconciliation of forward-looking non- GAAPfinancial measures where we are unable to provide a meaningful or accurate calculation or estimation of reconciling items, and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of our control, or cannot be reasonably predicted. For the same reasons, we are unable to address the probable significance of the unavailable information. Forward-looking non-GAAPfinancial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. Non-GAAPmeasures are reconciled to their most directly comparable GAAP financial measures below (in millions, except percentages):
Three Months September 30, September 30, Ended 2026 2025 ────────────────────────────────────────────────────────────────────────────── GAAP total 6 % 9 % revenue growth Impact of: Acquisitions/d… 1 — (A) Effect of foreign currency — (1 ) fluctuations (A) Non-GAAP core constant currency total 7 % 8 % revenue growth
In order to provide a framework for assessing how our underlying businesses performed excluding the impact of the Noctrix acquisition and the divestiture of the MatrixCare business and the effect of foreign currency fluctuations, when applicable, we provide certain financial information on a “core constant currency basis,” which is in addition to the actual financial information presented. In order to calculate our A. constant currency information, we translate the current period financial information using the foreign currency exchange rates that were in effect during the previous comparable period. However, constant currency measures should not be considered in isolation or as an alternative to U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP.
RESMED INC. AND SUBSIDIARIES Reconciliation of Non-GAAP FinancialMeasures (Unaudited; $ in millions, except for per share amounts)
RESMED INC. AND SUBSIDIARIES Revenue by Product and Region (Unaudited; $ in millions)
In order to provide a framework for assessing how our underlying businesses performed excluding the impact of the Noctrix acquisition and the divestiture of the MatrixCare business and the effect of foreign currency fluctuations, we provide certain financial information on a “core constant currency basis,” which is in addition to the actual financial information presented. In order to calculate our constant currency information, we translate the current period financial B. information using the foreign currency exchange rates that were in effect during the previous comparable period. However, constant currency measures should not be considered in isolation or as an alternative to U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP. Removing the MatrixCare business that we’ve now divested, the remaining businesses of Residential Care Software – Brightree and MEDIFOX DAN - increased by 8%.
RESMED INC. AND SUBSIDIARIES Reclassification of Prior-period Amounts (Unaudited; $ in thousands) During the first quarter of fiscal year 2027, we revised the presentation of restructuring expenses and amortization of acquired intangibles in our condensed consolidated statements of operations. Restructuring expenses, which were previously presented as a separate line item within operating expenses, are now classified within cost of sales, research and development expenses, and selling, general and administrative expenses based on the function of the associated costs. In connection with this change, we renamed “restructuring expenses” as “restructuring and business transformation expenses” to reflect the broader nature of the costs included within this category. Amortization of acquired intangibles relating to cost of sales is no longer presented as a separate line item within cost of sales. Amortization of acquired intangibles relating to operating expenses are now classified within selling, general and administrative expenses. Prior-period amounts have been reclassified to conform to the current-period presentation. The reclassifications had no effect on previously reported income from operations, income before income taxes, net income, earnings per share or cash flows. The following table reconciles previously reported amounts to the revised presentation (in thousands):
RESMED INC. AND SUBSIDIARIES Reclassification of Prior-period Amounts (Unaudited; $ in thousands) The following tables reconcile previously reported quarterly 2026 amounts to the revised presentation (in thousands):
RESMED INC. AND SUBSIDIARIES Reclassification of Prior-period Amounts (Unaudited; $ in thousands)
RESMED INC. AND SUBSIDIARIES Reclassification of Prior-period Amounts (Unaudited; $ in thousands)
Full text with the tables
Exhibit 99.1
For investors For media
+1 858-221-3304 +1 619-510-1281
investorrelations@resmed.com news@resmed.com
Resmed Inc. Announces Results for the First Quarter of Fiscal Year 2027
• Q1 revenue increased by 6% to $1.4 billion; up 7% on a core constant
currency basis
Q1 GAAP diluted earnings per share up 23% to $2.92; non-GAAP diluted
• EPS
up 14% to $2.91
• Returned more than $1.0 billion to shareholders through share
repurchases and dividends during Q1
Note: A webcast of Resmed’s conference call will be available at 4:30 p.m. ET
today at http://investor.resmed.com SAN DIEGO, October 29, 2026 – Resmed Inc.
(NYSE: RMD, ASX: RMD) today announced results for its quarter ended September
30, 2026. “We began fiscal year 2027 with a strong first quarter, driven by
continued global demand for our sleep and breathing health solutions and ongoing
execution across our business,” said Resmed’s Chairman and CEO, Mick Farrell.
“Year over year, we grew core constant currency revenue 7%, expanded non-
GAAPgross margin by 50 basis points, and increased non-GAAPearnings per share by
14%. Our strong free cash flow and the proceeds from our divestiture of
MatrixCare enabled us to both invest in innovation and return more than $1
billion to shareholders during the quarter.” “Looking ahead to the rest of
fiscal year 2027, we will continue to build our core sleep and breathing health
businesses by extending the reach of our digital health ecosystem and connecting
more of the people worldwide who need care with life-saving treatment delivered
right in their own home.” Other Business and Operational Highlights
• Closed the previously announced divestiture of the MatrixCare business.
Announced the U.S. launch of the AirTouch F40, the newest addition to
• Resmed’s growing portfolio of fabric
CPAP masks.
Partnered with Eight Sleep to connect its technology with Resmed sleep
insights for people in the U.S. and
• Australia, and with 23XI Racing NASCAR driver Tyler Reddick, following
his sleep apnea diagnosis, to help others recognize the signs and seek
treatment.
Announced appointment of Carol Burt as Lead Director, effective
November 15, 2026, after the planned
• retirement of Director Ron Taylor.
──────────────────────────────────────────────────────────────────────────────
Page
2
RMD First Quarter 2027 Earnings Press Release – October 29, 2026 of 13
───────────────────────────────────────────────────────────────────────────
Financial Results and Operating Metrics (Unaudited; $ in millions, except for
per share amounts)
Three Septem… Septe… Const…
Months 30, 30, % Curre…
Ended 2026 2025 Change (A)
──────────────────────────────────────────────────────────────────────────────
Reven… $ 1,415 $ 1,336 6 % 6 %
Gross
margin 61.5 % 61.2 % 30 bps
(D)
Non-G…
gross 62.5 % 62.0 % 50 bps
margin
(B)
Resea…
and
devel… 103 89 15 13
expen…
(D)
Non-G…
resea…
and 102 87 16 14
devel…
expen…
(B)
Selli…
gener…
and 315 282 12 11
admin…
expen…
(D)
Non-G…
selli…
gener… 276 259 6 6
and
admin…
expen…
Income
from 453 447 1
opera…
Opera… 32.0 % 33.4 % (140)
margin bps
Non-G…
income
from 506 482 5
opera…
(B)
Non-G…
opera… 35.8 % 36.1 % (30)
margin bps
(B)
Net 418 349 20
income
Non-G…
net 418 375 12
income
(B)
Dilut…
earni… $ 2.92 $ 2.37 23
per
share
Non-G…
dilut…
earni… $ 2.91 $ 2.55 14
per
share
(B)
Opera…
cash 422 457 (8 )
flow
Free
cash 374 414 (10 )
flow
(C)
In order to provide a framework for assessing how our underlying
businesses performed excluding the effect of
foreign currency fluctuations, we provide certain financial information
on a “constant currency basis,” which is in addition to the actual
financial information presented. In order to calculate our constant
currency information, we
translate the current period financial information using the foreign
A. currency exchange rates that were in effect during the previous
comparable period. However, constant currency measures should not be
considered in isolation or as an alternative to
U.S. dollar measures that reflect current period exchange rates, or to
other financial measures calculated and presented in accordance with
U.S. GAAP. Revenue growth on a core constant currency basis, which also
excludes the impact of the Noctrix
acquisition and the divestiture of the MatrixCare business, was 7%.
B. See the reconciliation of non-GAAP financial measures in the table at
the end of the press release.
C. Free cash flow is equal to operating cash flow less purchases of
property, plant and equipment.
During the first quarter of fiscal year 2027, we revised the
presentation of restructuring expenses and
amortization of acquired intangibles. Restructuring expenses, which were
previously presented as a separate line item within operating expenses,
are now classified within cost of sales, research and development
expenses, and selling, general and
administrative expenses based on the function of the associated costs.
D. Amortization of acquired intangibles relating to cost of sales is no
longer presented as a separate line item within cost of sales.
Amortization of acquired intangibles relating
to operating expenses are now classified within selling, general and
administrative expenses. Prior-period amounts have been reclassified to
conform to the current-period presentation. See reconciliation of
reclassification of prior-period amounts
at the end of the press release.
Discussion of First Quarter Results All comparisons are to the prior year period
unless otherwise noted
Strong revenue growth: Revenue increased 6% (7% in core constant
• currency) to approximately $1.4 billion,
primarily driven by strong demand across sleep devices and masks and
accessories.
Global momentum: On a core constant currency basis, Americas Sleep and
• Breathing Health revenue grew 7%, Rest of
World Sleep and Breathing Health grew 8%, and Residential Care Software
revenue increased 5%.
Healthy profitability: GAAP gross margin of 61.5%. Non-GAAP gross
• margin increased 50 basis points to 62.5%, predominantly from
productivity pipeline execution.
Robust earnings growth: GAAP operating margin of 32.0% and GAAP diluted
earnings per share of $2.92. Non-GAAP operating margin of 35.8% and
• non-GAAP diluted earnings per share of $2.91, up 14% year-over-year,
predominantly attributable to strong revenue growth and
gross margin improvement.
Strong cash generation: Operating cash flow totaled $422 million and
free cash flow totaled
• $374 million. Proceeds from the sale of MatrixCare and strong cash
flows supported $1.0 billion returned to shareholders through dividends
and share repurchases while maintaining investment in innovation and
growth initiatives.
Page
3
RMD First Quarter 2027 Earnings Press Release – October 29, 2026 of 13
───────────────────────────────────────────────────────────────────────────
Fiscal Year 2027 guidance
FY 2027 Guidance as of FY 2027 Guidance as of
August October
Metric 6, 2026 29, 2026 Change
──────────────────────────────────────────────────────────────────────────────
Core Constant Core Constant
Revenue Currency: 5 - 7% Currency: 5 - 7% —
growth growth
Reported: $5.75 - Reported: $5.75 - —
$5.85 Billion $5.85 Billion
Non-GAAP $12.00 - $12.25 $12.00 - $12.25 —
Diluted EPS
Dividend program The Resmed board of directors today declared a quarterly cash
dividend of $0.66 per share. The dividend will have a record date of November
12, 2026, payable on December 17, 2026. The dividend will be paid in U.S.
currency to holders of Resmed’s common stock trading on the New York Stock
Exchange. Holders of CHESS Depositary Interests (“CDIs”) trading on the
Australian Securities Exchange will receive an equivalent amount in Australian
currency, based on the exchange rate on the record date, and reflecting the 10:1
ratio between CDIs and NYSE shares. The ex-dividend datewill be November 11,
2026, for common stockholders and for CDI holders. Resmed has received a waiver
from the ASX’s settlement operating rules, which will allow Resmed to defer
processing conversions between its common stock and CDI registers from November
11, 2026, through November 12, 2026, inclusive. Webcast details Resmed will
discuss its first quarter fiscal year 2027 results on its webcast at 1:30 p.m.
U.S. Pacific Time today. The live webcast of the call can be accessed on
Resmed’s Investor Relations website at investor.resmed.com. Please go to this
section of the website and click on the icon for the “Q1 2027 Earnings Webcast”
to register and listen to the live webcast. A replay of the earnings webcast
will be accessible on the website and available approximately two hours after
the live webcast. In addition, a telephone replay of the conference call will be
available approximately three hours after the webcast by dialing +1 877-660-6853
(U.S.)or +1 201-612-7415 (outsideU.S.) and entering the passcode 13762822. The
telephone replay will be available until November 12, 2026. About Resmed Resmed
(NYSE: RMD, ASX: RMD) creates life-changing health technologies that people
love. We’re relentlessly committed to pioneering innovative technology to
empower millions of people in 140 countries to live happier, healthier lives.
Our AI-powereddigital health solutions, cloud-connected devices and intelligent
software make home healthcare more personalized, accessible and effective.
Ultimately, Resmed envisions a world where every person can achieve their full
potential through better sleep and breathing, with care delivered in their own
home. Learn more about how we’re redefining sleep health at Resmed.com and
follow @Resmed. Safe harbor statement Statements contained in this release that
are not historical facts are “forward-looking” statements as contemplated by the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements – including statements regarding Resmed’s projections of future
revenue or earnings, expenses, results of operations, new product development,
new product launches, new markets for its products, the integration of
acquisitions and success of strategic initiatives, including divestitures, our
supply chain, domestic and international regulatory developments, litigation,
tax outlook, and the expected impact of macroeconomic conditions of our business
– are subject to risks and uncertainties, which could cause actual results to
materially differ from those projected or implied in the forward-looking
statements. Additional risks and uncertainties are discussed in Resmed’s
periodic reports on file with the U.S. Securities & Exchange Commission. Resmed
does not undertake to update its forward-looking statements. – More –
Page
4
RMD First Quarter 2027 Earnings Press Release – October 29, 2026 of 13
───────────────────────────────────────────────────────────────────────────
RESMED INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations
(Unaudited; $ in thousands, except for per share amounts)
Three Months September 30, September 30,
Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
Net revenue $ 1,414,814 $ 1,335,582
Cost of sales (2) 544,247 517,918
Gross profit (2) 870,567 817,664
Research and 102,860 89,479
development (2)
Selling, general,
and 314,723 281,648
administrative
(2)
Total operating 417,583 371,127
expenses
Income from 452,984 446,537
operations
Other income
(expenses), net:
Interest
(expense) income, 16,384 8,793
net
Gain (loss)
attributable to
equity 1,884 1,489
method
investments
Gain (loss) on
equity 5,719 (6,190 )
investments
Other, net 62,184 (3,836 )
Total other
income 86,171 256
(expenses), net
Income before 539,155 446,793
income taxes
Income taxes 120,742 98,257
Net income $ 418,413 $ 348,536
Basic earnings $ 2.93 $ 2.38
per share
Diluted earnings $ 2.92 $ 2.37
per share
Non-GAAP diluted
earnings per $ 2.91 $ 2.55
share (1)
Basic shares 142,989 146,182
outstanding
Diluted shares 143,411 146,899
outstanding
(1) See the reconciliation of non-GAAP financial measures in the
table at the end of the press release.
During the first quarter of fiscal year 2027, we revised the
presentation of restructuring expenses and
amortization of acquired intangibles. Restructuring expenses, which
were previously presented as a separate line item within operating
expenses, are now classified within cost of sales, research and
development expenses, and selling, general and
administrative expenses based on the function of the associated costs.
(2) Amortization of acquired intangibles relating to cost of sales is no
longer presented as a separate line item within cost of sales.
Amortization of acquired intangibles relating
to operating expenses are now classified within selling, general and
administrative expenses. Prior-period amounts have been reclassified to
conform to the current-period presentation. See reconciliation of
reclassification of prior-period amounts
at the end of the press release.
– More –
Page
5
RMD First Quarter 2027 Earnings Press Release – October 29, 2026 of 13
───────────────────────────────────────────────────────────────────────────
RESMED INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited; $
in thousands)
September 30, June 30,
2026 2026
──────────────────────────────────────────────────────────────────────────────
Assets
Current assets:
Cash and cash equivalents $ 1,010,742 $ 1,469,234
Accounts receivable, net 972,498 1,036,233
Inventories 1,021,358 945,805
Prepaid expenses and other
current 504,323 416,081
assets
Assets held for sale — 457,386
Total current assets $ 3,508,921 $ 4,324,739
Non-current assets:
Property, plant, and equipment, $ 601,787 $ 581,829
net
Operating 196,688 153,167
lease right-of-use assets
Goodwill and other intangibles, 3,350,913 3,362,312
net
Deferred income taxes and 553,502 543,903
other non-current assets
Total non-current assets $ 4,702,890 $ 4,641,211
Total assets $ 8,211,811 $ 8,965,950
Liabilities and Stockholders’
Equity
Current liabilities:
Accounts payable $ 320,677 $ 308,923
Accrued expenses 480,166 494,921
Operating lease liabilities, 31,527 29,141
current
Deferred revenue 171,647 162,911
Income taxes payable 160,228 98,108
Short-term debt 159,975 259,950
Liabilities held for sale — 41,156
Total current liabilities $ 1,324,220 $ 1,395,110
Non-current liabilities:
Deferred revenue $ 174,209 $ 170,951
Deferred income taxes 62,651 64,640
Operating lease liabilities, 169,447 137,413
non-current
Other long-term liabilities 283,965 213,028
Long-term debt 249,629 399,415
Total non-current liabilities $ 939,901 $ 985,447
Total liabilities $ 2,264,121 $ 2,380,557
Stockholders’ equity
Common stock $ 764 $ 764
Additional paid-in capital 2,133,418 2,190,614
Retained earnings 7,578,580 7,255,121
Treasury stock (3,633,335 ) (2,778,591 )
Accumulated other comprehensive (131,737 ) (82,515 )
loss
Total stockholders’ equity $ 5,947,690 $ 6,585,393
Total liabilities and
stockholders’ $ 8,211,811 $ 8,965,950
equity
– More –
Page
6
RMD First Quarter 2027 Earnings Press Release – October 29, 2026 of 13
───────────────────────────────────────────────────────────────────────────
RESMED INC. AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows
(Unaudited; $ in thousands)
Three Months September 30, September 30,
Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
Cash flows from
operating
activities:
Net income $ 418,413 $ 348,536
Adjustments to
reconcile net
income to
cash provided
by operating
activities:
Depreciation
and 41,741 47,698
amortization
Amortization
of right-of-use 10,090 9,971
assets
Stock-based
compensation 29,475 21,160
costs
(Gain) loss
attributable to
equity (1,884 ) (1,489 )
method
investments
(Gain) loss on
equity (5,719 ) 6,190
investments
(Gain) loss on
divestment of (61,784 ) —
subsidiaries
Non-cash
restructuring 6,242 —
expenses
Changes in
operating
assets and
liabilities:
Accounts 64,839 29,970
receivable, net
Inventories (71,764 ) (14,663 )
Prepaid
expenses, net
deferred income (69,988 ) 2,312
taxes and other
current assets
Accounts
payable,
accrued
expenses, 62,761 7,636
income taxes
payable and
other
Net cash
provided by
(used in) $ 422,422 $ 457,321
operating
activities
Cash flows from
investing
activities:
Purchases of
property, (48,740 ) (42,965 )
plant, and
equipment
Patent
registration (2,432 ) (2,814 )
and acquisition
costs
Business
acquisitions, (7,487 ) (522 )
net of cash
acquired
Purchases of (2,721 ) (2,173 )
investments
Proceeds from
divestment of
subsidiaries, 450,820 —
net of cash
divested
Proceeds
(payments) on
maturity of 2,615 (4,104 )
foreign
currency
contracts
Net cash
provided by
(used in) $ 392,055 $ (52,578 )
investing
activities
Cash flows from
financing
activities:
Proceeds from
issuance of 3,654 8,205
common stock,
net
Purchases of (936,378 ) (150,010 )
treasury stock
Taxes paid
related to net
share (325 ) (719 )
settlement of
equity awards
Repayment of (250,000 ) —
borrowings
Dividends paid (94,954 ) (87,750 )
Net cash
provided by
(used in) $ (1,278,003 ) $ (230,274 )
financing
activities
Effect of
exchange rate $ 5,034 $ (71 )
changes on cash
Net increase
(decrease) in (458,492 ) 174,398
cash and cash
equivalents
Cash and cash
equivalents at 1,469,234 1,209,450
beginning
of period
Cash and cash
equivalents at $ 1,010,742 $ 1,383,848
end of
period
– More –
Page
7
RMD First Quarter 2027 Earnings Press Release – October 29, 2026 of 13
───────────────────────────────────────────────────────────────────────────
RESMED INC. AND SUBSIDIARIES Reconciliation of Non-GAAP FinancialMeasures
(Unaudited; $ in millions, except for per share amounts) In addition to
financial information prepared in accordance with GAAP, we use certain non-
GAAPfinancial measures, such as non-GAAPcore constant currency basis, non-
GAAPgross profit, non-GAAPgross margin, non-GAAPincome from operations, non-
GAAPoperating margin, non-GAAPnet income, and non-GAAPdiluted earnings per
share, in evaluating the performance of our business. We believe that these non-
GAAPfinancial measures, when reviewed in conjunction with GAAP financial
measures, can provide investors better insight when evaluating our performance
from core operations and can provide more consistent financial reporting across
periods. For these reasons, we use non-GAAPinformation internally in planning,
forecasting, and evaluating the results of operations in the current period and
in comparing it to past periods. These non-GAAPfinancial measures should be
considered in addition to, and not superior to or as a substitute for, GAAP
financial measures. We strongly encourage investors and shareholders to review
our financial statements and publicly-filed reports in their entirety and not to
rely on any single financial measure. Like all non-GAAP measures, non-GAAP
earningsare subject to inherent limitations because they do not include all the
expenses that must be included under GAAP. Non-GAAPfinancial measures as
presented herein may not be comparable to similarly titled measures used by
other companies. The non-GAAPfinancial measures included in this release and the
accompanying tables (including within the tables that provide our detailed
reconciliations to the corresponding GAAP financial measures) are adjusted for
the impact of acquisitions and divestitures, amortization of acquired
intangibles, restructuring and business transformation expenses, acquisition and
divestment-related expenses, gains on divestment of subsidiaries, and associated
tax effects, in addition to the tax effect of interest and penalties on tax
refunds. We have not included a reconciliation of forward-looking non-
GAAPfinancial measures where we are unable to provide a meaningful or accurate
calculation or estimation of reconciling items, and the information is not
available without unreasonable effort. This is due to the inherent difficulty of
forecasting the occurrence and the financial impact of various items that have
not yet occurred, are out of our control, or cannot be reasonably predicted. For
the same reasons, we are unable to address the probable significance of the
unavailable information. Forward-looking non-GAAPfinancial measures provided
without the most directly comparable GAAP financial measures may vary materially
from the corresponding GAAP financial measures. Non-GAAPmeasures are reconciled
to their most directly comparable GAAP financial measures below (in millions,
except percentages):
Three Months September 30, September 30,
Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
GAAP total 6 % 9 %
revenue growth
Impact of:
Acquisitions/d… 1 —
(A)
Effect of
foreign
currency — (1 )
fluctuations
(A)
Non-GAAP core
constant
currency total 7 % 8 %
revenue
growth
In order to provide a framework for assessing how our underlying
businesses performed excluding the impact of
the Noctrix acquisition and the divestiture of the MatrixCare business
and the effect of foreign currency fluctuations, when applicable, we
provide certain financial information on a “core constant currency
basis,” which is in addition
to the actual financial information presented. In order to calculate our
A. constant currency information, we translate the current period financial
information using the foreign currency exchange rates that were in
effect during the previous
comparable period. However, constant currency measures should not be
considered in isolation or as an alternative to U.S. dollar measures
that reflect current period exchange rates, or to other financial
measures calculated and presented in
accordance with U.S. GAAP.
Page
8
RMD First Quarter 2027 Earnings Press Release – October 29, 2026 of 13
───────────────────────────────────────────────────────────────────────────
RESMED INC. AND SUBSIDIARIES Reconciliation of Non-GAAP FinancialMeasures
(Unaudited; $ in millions, except for per share amounts)
…
…
…
…
…
…
──────────────────────────────────────────────────────────────────────────────
… … …
… … … … … …
… … … … … …
… … … …
… …
$ … $ … $ … $ … $ … $ …
5 — … ) … 4 …
8 … ) … ) … 7 …
— — … ) … — …
— — — — ) … ) …
— — — — … …
$ … $ … $ … $ … $ … $ …
A. Totals may not add due to rounding.
…
…
…
…
…
…
──────────────────────────────────────────────────────────────────────────────
… … … D…
… … … … … I… N… e…
… … … … … t… i… p…
… … … … e… s…
… …
$ … $ 89 $ 2… $ 4… $ — $ … $ … $ …
8 — (… ) 20 — 5 … …
3 (2 ) (… ) 16 — 4 … …
$ … $ 87 $ 2… $ 4… $ — $ … $ … $ …
A. Totals may not add due to rounding.
Page
9
RMD First Quarter 2027 Earnings Press Release – October 29, 2026 of 13
───────────────────────────────────────────────────────────────────────────
RESMED INC. AND SUBSIDIARIES Revenue by Product and Region (Unaudited; $ in
millions)
Core
Three Septe… Sept… Cons…
Mont… 30, 30, % Curr…
Ended 2026 (A) 2025 (A) Change (B)
──────────────────────────────────────────────────────────────────────────────
Ame…
Sle… $ 436 $ 405 8 % 6 %
Dev…
Mas…
and 397 361 10 10
oth…
Tot… $ 833 $ 766 9 8
Sle…
Life
Sup… — 9 (94 ) (94 )
Dev…
Tot…
Ame…
Sle… $ 833 $ 775 8 7
and
Bre…
Hea…
Rest
of
Wor…
Sle… $ 280 $ 250 12 % 13 %
Dev…
Mas…
and 143 128 12 11
oth…
Tot… $ 423 $ 378 12 12
Sle…
Life
Sup… 3 17 (79 ) (79 )
Dev…
Tot…
Rest
of
Wor… $ 426 $ 395 8 8
Sle…
and
Bre…
Hea…
Glo…
rev…
Tot…
Sle… $ 716 $ 655 9 % 9 %
Dev…
Tot…
Mas… 540 489 10 10
and
oth…
Tot… $ 1,256 $ 1,144 10 9
Sle…
Tot…
Life 4 25 (84 ) (84 )
Sup…
Dev…
Tot…
Sle…
and $ 1,260 $ 1,169 8 7
Bre…
Hea…
Res…
Care 155 166 (7 ) 5
Sof…
Tot… $ 1,415 $ 1,336 6 % 7 %
A. Totals and subtotals may not add due to rounding.
In order to provide a framework for assessing how our underlying
businesses performed excluding the impact of
the Noctrix acquisition and the divestiture of the MatrixCare business
and the effect of foreign currency fluctuations, we provide certain
financial information on a “core constant currency basis,” which is in
addition to the actual
financial information presented. In order to calculate our constant
currency information, we translate the current period financial
B. information using the foreign currency exchange rates that were in
effect during the previous comparable period.
However, constant currency measures should not be considered in
isolation or as an alternative to U.S. dollar measures that reflect
current period exchange rates, or to other financial measures calculated
and presented in accordance with U.S. GAAP.
Removing the MatrixCare business that we’ve now divested, the remaining
businesses of Residential Care Software – Brightree and MEDIFOX DAN -
increased by 8%.
– End –
Page
10
RMD First Quarter 2027 Earnings Press Release – October 29, 2026 of 13
───────────────────────────────────────────────────────────────────────────
RESMED INC. AND SUBSIDIARIES Reclassification of Prior-period Amounts
(Unaudited; $ in thousands) During the first quarter of fiscal year 2027, we
revised the presentation of restructuring expenses and amortization of acquired
intangibles in our condensed consolidated statements of operations.
Restructuring expenses, which were previously presented as a separate line item
within operating expenses, are now classified within cost of sales, research and
development expenses, and selling, general and administrative expenses based on
the function of the associated costs. In connection with this change, we renamed
“restructuring expenses” as “restructuring and business transformation expenses”
to reflect the broader nature of the costs included within this category.
Amortization of acquired intangibles relating to cost of sales is no longer
presented as a separate line item within cost of sales. Amortization of acquired
intangibles relating to operating expenses are now classified within selling,
general and administrative expenses. Prior-period amounts have been reclassified
to conform to the current-period presentation. The reclassifications had no
effect on previously reported income from operations, income before income
taxes, net income, earnings per share or cash flows. The following table
reconciles previously reported amounts to the revised presentation (in
thousands):
Three
Mont…
Ended
Sept…
30,
2025
──────────────────────────────────────────────────────────────────────────────
Rest… Amor…
As and of As
prev… busi… acqu… recl…
repo… tran… inta…
expe…
Cost
of
sal…
-
Sle… $ 456,… $ 3,156 $ 1,420 $ 460,6…
and
Bre…
Hea…
pro…
Cost
of
sal…
- 50,8… — 6,401 57,224
Res…
Care
Sof…
Cost
of
sal…
(ex…
of $ 506,… $ 3,156 $ 7,821 $ 517,9…
amo…
sho…
sep…
bel…
Amo…
of
acq…
int…
ass…
- 1,420 — (1,420 ) —
Sle…
and
Bre…
Hea…
pro…
Amo…
of
acq…
int…
ass… 6,401 — (6,401 ) —
-
Res…
Care
Sof…
Amo…
of
acq… $ 7,821 $ — $ (7,821 ) $ —
int…
ass…
Tot…
cost $ 514,… $ 3,156 $ — $ 517,9…
of
sal…
Gro… $ 820,… $ (3,1… ) $ — $ 817,6…
pro…
Res…
and 87,3… 2,156 — 89,479
dev…
Sel…
gen… 259,… 10,4… 11,956 281,6…
and
adm…
Amo…
of
acq… 11,9… — (11,9… ) —
int…
ass…
Res… 15,8… (15,… ) — —
exp…
Tot…
ope… $ 374,… $ (3,1… ) $ — $ 371,1…
exp…
Inc…
from $ 446,… $ — $ — $ 446,5…
ope…
Page
11
RMD First Quarter 2027 Earnings Press Release – October 29, 2026 of 13
───────────────────────────────────────────────────────────────────────────
RESMED INC. AND SUBSIDIARIES Reclassification of Prior-period Amounts
(Unaudited; $ in thousands) The following tables reconcile previously reported
quarterly 2026 amounts to the revised presentation (in thousands):
Three
Mont…
Ended
Dece…
31,
2025
──────────────────────────────────────────────────────────────────────────────
Rest… Amort…
As and of As
prev… busi… acqui… recla…
repo… tran… intan…
expe…
Cost
of
sal…
-
Sle… $ 484,… $ 994 $ 1,415 $ 487,…
and
Bre…
Hea…
pro…
Cost
of
sal…
- 51,4… — 6,393 57,8…
Res…
Care
Sof…
Cost
of
sal…
(ex…
of $ 536,… $ 994 $ 7,808 $ 545,…
amo…
sho…
sep…
bel…
Amo…
of
acq…
int…
ass…
- 1,415 — (1,4… ) —
Sle…
and
Bre…
Hea…
pro…
Amo…
of
acq…
int…
ass… 6,393 — (6,3… ) —
-
Res…
Care
Sof…
Amo…
of
acq… $ 7,808 $ — $ (7,8… ) $ —
int…
ass…
Tot…
cost $ 544,… $ 994 $ — $ 545,…
of
sal…
Gro… $ 878,… $ (994 ) $ — $ 877,…
pro…
Res…
and 90,9… 1,233 — 92,2…
dev…
Sel…
gen… 278,… 3,708 11,7… 293,…
and
adm…
Amo…
of
acq… 11,7… — (11,… ) —
int…
ass…
Res… 5,935 (5,9… ) — —
exp…
Tot…
ope… $ 387,… $ (994 ) $ — $ 386,…
exp…
Inc…
from $ 491,… $ — $ — $ 491,…
ope…
Page
12
RMD First Quarter 2027 Earnings Press Release – October 29, 2026 of 13
───────────────────────────────────────────────────────────────────────────
RESMED INC. AND SUBSIDIARIES Reclassification of Prior-period Amounts
(Unaudited; $ in thousands)
Three
Months
Ended
March
31,
2026
──────────────────────────────────────────────────────────────────────────────
Restr… Amort…
As and of As
previ… busin… acqui… reclas…
repor… trans… intan…
expen…
Cost
of
sales
-
Sleep $ 481,7… $ — $ 1,421 $ 483,1…
and
Brea…
Heal…
prod…
Cost
of
sales
- 50,855 — 6,429 57,284
Resi…
Care
Soft…
Cost
of
sales
(exc…
of $ 532,5… $ — $ 7,850 $ 540,4…
amor…
shown
sepa…
belo…
Amor…
of
acqu…
inta…
asse…
- 1,421 — (1,421 ) —
Sleep
and
Brea…
Heal…
prod…
Amor…
of
acqu…
inta…
asse… 6,429 — (6,429 ) —
-
Resi…
Care
Soft…
Amor…
of
acqu… $ 7,850 $ — $ (7,850 ) $ —
inta…
asse…
Total
cost $ 540,4… $ — $ — $ 540,4…
of
sales
Gross $ 890,9… $ — $ — $ 890,9…
prof…
Rese…
and 94,267 — — 94,267
deve…
Sell…
gene… 285,6… — 11,247 296,9…
and
admi…
Amor…
of
acqu… 11,247 — (11,2… ) —
inta…
asse…
Rest… — — — —
expe…
Total
oper… $ 391,1… $ — $ — $ 391,1…
expe…
Inco…
from $ 499,8… $ — $ — $ 499,8…
oper…
Page
13
RMD First Quarter 2027 Earnings Press Release – October 29, 2026 of 13
───────────────────────────────────────────────────────────────────────────
RESMED INC. AND SUBSIDIARIES Reclassification of Prior-period Amounts
(Unaudited; $ in thousands)
Three
Months
Ended
June
30,
2026
──────────────────────────────────────────────────────────────────────────────
Restr… Amort…
As and of As
previ… busin… acqui… reclas…
repor… trans… intan…
expen…
Cost
of
sales
-
Sleep $ 539,9… $ — $ 2,011 $ 541,9…
and
Brea…
Heal…
prod…
Cost
of
sales
- 54,155 — 6,290 60,445
Resi…
Care
Soft…
Cost
of
sales
(exc…
of $ 594,1… $ — $ 8,301 $ 602,4…
amor…
shown
sepa…
belo…
Amor…
of
acqu…
inta…
asse…
- 2,011 — (2,011 ) —
Sleep
and
Brea…
Heal…
prod…
Amor…
of
acqu…
inta…
asse… 6,290 — (6,290 ) —
-
Resi…
Care
Soft…
Amor…
of
acqu… $ 8,301 $ — $ (8,301 ) $ —
inta…
asse…
Total
cost $ 602,4… $ — $ — $ 602,4…
of
sales
Gross $ 861,2… $ — $ — $ 861,2…
prof…
Rese…
and 105,7… — — 105,7…
deve…
Sell…
gene… 296,2… — 10,499 306,7…
and
admi…
Amor…
of
acqu… 10,499 — (10,4… ) —
inta…
asse…
Rest… — — — —
expe…
Total
oper… $ 412,5… $ — $ — $ 412,5…
expe…
Inco…
from $ 448,7… $ — $ — $ 448,7…
oper…