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Sep 30, 2025
ResMed Q1 2026 Earnings Report
ResMed reported strong first-quarter fiscal year 2026 results, with significant revenue growth and improved profitability driven by increased demand for sleep devices and masks, as well as operational efficiencies.
Key Takeaways
ResMed delivered a strong start to fiscal year 2026, with revenue increasing 9% to $1.3 billion and non-GAAP diluted EPS growing 16% to $2.55. The company saw significant gross margin expansion due to manufacturing efficiencies and component cost improvements, reinforcing its strategy to transform healthcare in the home.
Revenue increased by 9% year-over-year to $1.3356 billion, or 8% on a constant currency basis.
Non-GAAP gross margin expanded by 280 basis points to 62.0%, driven by manufacturing and logistics efficiencies.
Diluted earnings per share grew 12% to $2.37, while non-GAAP diluted earnings per share increased 16% to $2.55.
Operating cash flow was robust at $457 million for the quarter, demonstrating strong cash generation.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
ResMed remains committed to operational excellence and strategic investment in innovation to drive strong, sustainable, profitable growth and expand access to its healthcare solutions globally.
Positive Outlook
- Continued progress towards the mission of improving sleep, breathing, and home care.
- Reinforcement of the strategy to transform healthcare in the home with hardware, software, and solutions.
- Commitment to ongoing operational excellence.
- Strategic investment in innovation to deliver sustainable growth.
- Aim to provide access to life-changing care for billions worldwide.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.
- No specific negative forward guidance was provided in the report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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