ResMed (ASX:RMD) revenue up 12% despite supply chain costs

Company News

by Lauren Evans

ResMed (ASX:RMD) increased its revenue by 12 per cent in the December quarter driven by high demand for its sleep and respiratory care products. 

However, the medical device company said its gross margin fell 2.3 per cent to 57.6 per cent as it navigated higher supply chain costs.

“Our global ResMed team continues to find ways to deliver products and solutions to our customers, even amid ongoing supply chain challenges that have limited additional access to critical electronic components," said chief executive officer Mick Farrell. 

“Despite constantly evolving market dynamics, we remain focused on our goal to improve 250 million lives in the year 2025; supporting patients with the sleep apnea therapy, respiratory care therapy, and digital health solutions they need as we deliver value for all of our customers."

Shares in ResMed (ASX:RMD) are trading 0.5 per cent lower at $31.25.

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