Resmed Inc. · NYSE:RMD
Resmed — Q1 2027 Earnings Presentation
36 slides from Resmed's earnings presentation, Oct 29, 2026
Slide 1: Q1 FY27 Earnings Call
Q1 FY27 Earnings Call October 29, 2026 June 4, 2025
Slide 2: Presentation of financial information & forward-looking statements
Presentation of financial information & forward-looking statements Historical financial and operating data in this presentation reflect the consolidated results of ResMed Inc. ("Resmed"), its subsidiaries, and its legal entities for the periods indicated. This presentation includes financial informa
Slide 3: Q1 FY27 Results
Q1 FY27 Results $1.4B 62.5% Total Revenue Non-GAAP Gross Margin 6% HL / 7% Core1 CC YoY growth +50 basis points YoY $2.91 >$1B Non-GAAP EPS Capital returned 14% YoY growth to shareholders2 Continued commitment to build the world’s leading digital health ecosystem Note: Data as of September 30, 2026.
Slide 4: Resmed key areas of focus
Resmed key areas of focus 1 2 3 Invest in Business and Innovation and Active Portfolio Return Capital to Operational Excellence Management Shareholders Key areas of focus that will continue contributing to Resmed’s growth and transformation © 2026 Resmed. 4
Slide 5: Q1 Innovation updates
I. Innovation & Operational II. Active Portfolio III. Business Investment & Excellence Management Return of Capital Q1 Innovation updates Expanding Device & Driving Resupply Through Personalized AI-Powered Fabric Mask Platforms Refreshed Patient Experience Compliance AirCurve 11 ST / ST-A myAirTM Sm
Slide 6: Operational improvements and developments
I. Innovation & Operational II. Active Portfolio III. Business Investment & Excellence Management Return of Capital Operational improvements and developments Ahead Multi-year Double-digit Gross Margin of Q1 FY27 expectations; benefited robust initiative bps GM improvement from phasing of supply chai
Slide 7: Expanding access to sleep health through key partnerships
I. Innovation & Operational II. Active Portfolio III. Business Investment & Excellence Management Return of Capital Expanding access to sleep health through key partnerships + + Connecting sleep insights and expanding Enhancing sleep health awareness and education access to sleep health resources wh
Slide 8: Real-world data analysis now shows >3.3M patients on GLP-1s both initiate CPAP more and stay on therapy
I. Innovation & Operational II. Active Portfolio III. Business Investment & Excellence Management Return of Capital Real-world data analysis now shows >3.3M patients on GLP-1s both initiate CPAP more and stay on therapy GLP-1 initiated1,2 vs. non-GLP-1 initiated OSA patients1 Patients with an OSA di
Slide 9: Q1 Marketing is expanding awareness and improving patient lives
I. Innovation & Operational II. Active Portfolio III. Business Investment & Excellence Management Return of Capital Q1 Marketing is expanding awareness and improving patient lives CPAP Baddies “In Bed With” Series Athlete Partnerships Normalizing CPAP through Series of conversations positioning Our
Slide 10: Clinicians are highly engaged with Resmed education programs focused on sleep
I. Innovation & Operational II. Active Portfolio III. Business Investment & Excellence Management Return of Capital Clinicians are highly engaged with Resmed education programs focused on sleep ✓ ~108,000 CME courses completed Up ~13K ✓By >63,000 unique clinicians Up ~8K Saying they intend to change
Slide 11: Prioritizing higher-growth, higher-return opportunities
I. Innovation & Operational II. Active Portfolio III. Business Investment & Excellence Management Return of Capital Prioritizing higher-growth, higher-return opportunities MatrixCare Business1 Divestiture Nidra Acquisition Closed September 1, 2026 Closed June 1, 2026 Strategic Rationale Strategic Ra
Slide 12: Record shareholder returns; confident in our 5-year outlook
I. Innovation & Operational II. Active Portfolio III. Business Investment & Excellence Management Return of Capital Record shareholder returns; confident in our 5-year outlook Shareholder Returns 5-Year Global Outlook Why we are confident: ✓ Record >$1B1 returned + Tremendous market opportunity to s
Slide 13: Q1 Financial Results and FY 2027 Guidance
Q1 Financial Results and FY 2027 Guidance
Slide 14: Q1 FY27 Global revenue results
Q1 FY27 Global revenue results Americas Sleep Devices Americas Life Support Devices Americas Masks & Other Total Revenue Revenue Revenue Revenue ($ in billions) +9% ⇧ +6% ⇧ (27%) ⇩ (94%) ⇩ +12% ⇧ +10% ⇧ +8% ⇧ +7% ⇧ $436 $9 $397 $405 $361 $1.3 $1.4 <$1 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27
Slide 15: Q1 FY27 Rest of P&L
Q1 FY27 Rest of P&L Non-GAAP Gross Margin Non-GAAP Operating Margin 50 bps ⇧ 30 bps ⇩ 62.5% 36.1% 62.0% 35.8% Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Non-GAAP Earnings Per Share Free Cash Flow1 ($ in actuals) ($ in millions) +14% ⇧ (10%) ⇩ $2.91 $414 $374 $2.55 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Note: Data as
Slide 16: Reiterating FY27 Revenue guidance
Reiterating FY27 Revenue guidance 5% - 7% YoY Core CC Revenue Growth $5.75B - $5.85B Includes ~130 bps (or) ~$75M HL Total Revenue headwind from Astral For FY27 & FY26: For FY27: • Only 2 months of MatrixCare revenue included • Only 2 months of MatrixCare revenue included • Nidra revenue excluded •
Slide 17: Reiterating FY27 Fully diluted non-GAAP EPS guidance
Reiterating FY27 Fully diluted non-GAAP EPS guidance 12% - 14% Growth $12.00 - $12.251 $11.17 ($0.20) ($0.30) $1.33 - $1.58 FY26 EPS (-) Noctrix (-) MatrixCare (+) Core contribution FY27 EPS Note: Data as of September 30, 2026. Resmed’s fiscal year end is June 30th. © 2026 Resmed. 17 Note: All forwa
Slide 18: Reiterating FY27 P&L margin outlook
Reiterating FY27 P&L margin outlook Non-GAAP Gross Margin Non-GAAP Operating Margin Low-double-digit Slight increase basis point expansion for FY27 vs. FY26; for FY27 vs. FY26; productivity and efficiency-driven with variability quarter-to-quarter Note: Data as of September 30, 2026. Resmed’s fiscal
Slide 19: Disciplined capital allocation strategy supports growth and return of capital
Disciplined capital allocation strategy supports both business growth and return of capital to shareholders Strategic Growth Reiterating FY27 capital expenditures of $160 - 180 million, supporting automation Priorities CapEx Priorities expansion and manufacturing footprint to address growing global
Slide 20: Q2 FY27 Preliminary trends
Q2 FY27 Preliminary trends Total Revenue Growth (%) Mid-single-digit QoQ increase1 Non-GAAP Gross Margin (%) Slightly down QoQ R&D Expenses ($) Roughly flat QoQ SG&A Expenses (% Change) Up low-single-digit QoQ Net Other Income ($) Down ~$10 million QoQ Note: Data as of September 30, 2026. Resmed’s f
Slide 21: Q1 FY27 Progress in key business priorities
Q1 FY27 Progress in key business priorities Growth Transformation Shareholder Returns • Investing in the highest-ROI • Driving efficiencies • Returned >$1B to R&D and marketing initiatives shareholders this quarter • Active portfolio • Optimizing the patient management • Enhanced transparency experi
Slide 22: Contact Investor Relations
Contact Investor Relations Phone: +1 (858) 221-3304 Email: [email protected] Website: Investor.Resmed.com
Slide 23: Appendix
APPENDIX
Slide 24: Q1–Q4 FY26 Global core constant currency revenue growth
Q1 – Q4 FY26 Global core constant currency revenue growth Revenue $ Core CC growth % Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Sleep Devices $405 $438 $436 $452 9% 10% 7% 8% Americas Life Support Devices $9 $10 $11 $7 (27%) (41%) (29%) (45%) Sleep Devices $250 $266 $276 $281 6%
Slide 25: More than 29 billion nights of respiratory medical data
Unmatched scale in connected respiratory & digital health More than 29 billion nights of respiratory medical data (up ~1B) 39+ million Up ~1M 36+ million Up ~1M patients in AirView 100% cloud connectable devices worldwide v 4.9+ million Up ~0.1M v 13.2+ million Up ~0.7M diagnostic tests processed in
Slide 26: Large, underpenetrated total addressable market = long runway for growth
Large, underpenetrated total addressable market = long runway for growth MARKET FOR DEVICES MARKET FOR MASKS Growing in the Growing in the mid-single digits high-single digits 400M 480M globally globally RLS Overlap COPD syndrome Underpenetrated OSA Market1 <20% <10% U.S. Rest of World 1B+ People OS
Slide 27: Key megatrends are driving patients and providers to Resmed's ecosystem
Key megatrends are driving patients and providers to Resmed’s ecosystem Consumers are Widespread Wearables Consumers AI and digital Massive pressure more focused adoption of spotlight sleep demand an health are on healthcare on their health GLP-1 apnea and elevated changing how systems; payers / th
Slide 28: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures In addition to financial information prepared in accordance with GAAP, we use certain non-GAAP financial measures, such as non-GAAP core constant currency basis, non-GAAP gross profit, non-GAAP gross margin, non-GAAP income from operations, non-GAAP oper
Slide 29: Reconciliation of non-GAAP financial measures (cont'd)
Reconciliation of non-GAAP financial measures (cont’d) (Unaudited; $ in millions, except for per share amounts) Note regarding non-GAAP reconciliations (A) In order to provide a framework for assessing how our underlying businesses performed excluding the impact of the Noctrix acquisition and the di
Slide 30: Reconciliation of non-GAAP financial measures (cont'd)
Reconciliation of non-GAAP financial measures (cont’d) (Unaudited; $ in millions, except for per share amounts) Note regarding non-GAAP reconciliations (A) Totals may not add due to rounding. © 2026 Resmed. 30
Slide 31: Reconciliation of non-GAAP financial measures (cont'd)
Reconciliation of non-GAAP financial measures (cont’d) (Unaudited; $ in millions, except for per share amounts) Note regarding non-GAAP reconciliations (A) Totals may not add due to rounding. © 2026 Resmed. 31
Slide 32: Reclassification of Prior-period Amounts
Reclassification of Prior-period Amounts 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 s
Slide 33: Reclassification of Prior-period Amounts (cont'd)
Reclassification of Prior-period Amounts (cont’d) (Unaudited; $ in thousands) The following table reconciles previously reported quarterly 2026 amounts to the revised presentation (in thousands): © 2026 Resmed. 33
Slide 34: Reclassification of Prior-period Amounts (cont'd)
Reclassification of Prior-period Amounts (cont’d) (Unaudited; $ in thousands) The following table reconciles previously reported quarterly 2026 amounts to the revised presentation (in thousands): © 2026 Resmed. 34
Slide 35: Reclassification of Prior-period Amounts (cont'd)
Reclassification of Prior-period Amounts (cont’d) (Unaudited; $ in thousands) The following table reconciles previously reported quarterly 2026 amounts to the revised presentation (in thousands): © 2026 Resmed. 35
Slide 36: Reclassification of Prior-period Amounts (cont'd)
Reclassification of Prior-period Amounts (cont’d) (Unaudited; $ in thousands) The following table reconciles previously reported quarterly 2026 amounts to the revised presentation (in thousands): © 2026 Resmed. 36