• Revenue increased by 11% to $1.4 billion; up 8% on a constant currency basis
• GAAP gross margin up 290 bps to 62.2%; non-GAAP gross margin up 290 bps to 62.8%
• GAAP income from operations increased 17%; non-GAAP income from operations up 18%

Resmed Inc. announced results for its quarter ended March 31, 2026. Revenue grew by 11% to $1.4 billion, or 8% on a constant currency basis, driven by increased demand for the company's portfolio of sleep devices, masks, and accessories. Gross margin increased by 290 basis points primarily due to component cost improvements, manufacturing and logistics efficiencies, and a small positive impact from product mix and foreign currency movements. Non-GAAP gross margin also increased by 290 basis points due to the same factors. Selling, general, and administrative expenses increased by 11% on a constant currency basis, mainly due to additional expenses associated with the VirtuOx acquisition, employee costs, and marketing and technology investments. Income from operations increased by 17%, and non-GAAP income from operations increased by 18%. Net income for the quarter was $399 million, and diluted earnings per share was $2.74. Non-GAAP net income increased by 20% to $417 million, and non-GAAP diluted earnings per share increased by 21% to $2.86, predominantly attributable to strong sales growth and gross margin improvement. Operating cash flow for the quarter was $554 million. During the quarter, the company paid $87 million in dividends to shareholders and repurchased 673,000 shares for $175 million as part of its ongoing capital management. The company also announced the expansion of its U.S. operations with a new distribution center in Greenwood, Indiana, and the launch of the AirTouch F30i Comfort full face mask in the U.S.

For the full fiscal year 2026, Resmed expects to deliver strong, profitable growth, with revenue growth in the range of 8-10% on a constant currency basis and non-GAAP earnings per share growth in the range of 15-18%.

Resmed remains focused on expanding access to care globally, scaling its digital health capabilities, and delivering further strong, profitable growth. The company is well-positioned to capitalize on the growing demand for its market-leading products and continue shaping the future of sleep health, breathing health, and healthcare in the home.