ResMed, a company specialising in sleep apnea treatment devices and cloud-based software, has reported better-than-expected second-quarter earnings, driven by robust demand for its products. The company focuses on developing, manufacturing, and distributing medical devices and cloud-based software solutions that diagnose, treat, and manage respiratory disorders, including sleep apnea, chronic obstructive pulmonary disease (COPD), and other chronic diseases. Revenue for the quarter increased by 11 per cent to $US1.4 billion ($2 billion), fuelled by heightened demand for its sleep devices, masks, and accessories.
Net income for the three months ending December 31 climbed 14 per cent to $US392.6 million. Gross margin also saw improvement, rising 5 per cent to 61.8 per cent. This increase was attributed to effective cost-cutting measures implemented across its manufacturing and logistics operations. Looking ahead, ResMed has forecast full-year margins to be in the range of 62 per cent to 63 per cent.
ResMed’s adjusted profit for the quarter reached $US2.81 per share, surpassing analyst estimates of $US2.72, according to Reuters. Chief Executive Officer Mick Farrell commented on the results, stating they reflect strong ongoing demand for the company’s market-leading sleep and respiratory care devices and the increasing influence of its digital health ecosystem.
