NYSE$RMD

ResMed Inc · Q1 2025 earnings

Q1 2025 earnings · · Investor relations

Briefing

ResMed's Q1 2025 results reflected ongoing momentum and strong execution across the business.

ResMed reported an 11% increase in revenue, a 34% increase in operating profit, and a non-GAAP operating profit increase of 27%. The company's focus on operational excellence led to margin expansion. They are celebrating 35 years of growth and innovation, with a newly launched 2030 strategy to transform sleep health, breathing health, and healthcare technology at home.

  • Revenue increased by 11% to $1.2 billion.
  • Gross margin improved to 58.6%, with non-GAAP gross margin at 59.2%.
  • Income from operations increased by 34%.
  • Diluted earnings per share were $2.11, with non-GAAP diluted earnings per share at $2.20.

Headline financials

Total Revenue

$1.22B

Previous: $1.1B+11.1%
EPS

$2.11

Previous: $1.64+28.7%
Gross margin

58.6%

Previous: 54.4%+7.7%
Non-GAAP gross margin

59.2%

Previous: 56.0%+5.7%
SG&A expenses percent of revenue

19.5%

No prior period
Research and development expenses

$79.5M

No prior period
Non-GAAP net income

$325M

No prior period
Non-GAAP income from operations

$406M

No prior period
Capital Expenditures

-$17.8M

Previous: -$30M+40.6%
Free Cash Flow

$294M

Previous: $189M+55.0%
Net Income

$311M

Previous: $219M+41.9%
Operating Income

$387M

Previous: $289M+34.0%
Gross Profit

$717M

Previous: $600M+19.5%
Cash & Equivalents

$426M

Previous: $209M+103.9%
Total Assets

$7.22B

Previous: $6.74B+7.1%
R&D Expense

$79.5M

No prior period
Stock-Based Comp

$20.2M

Previous: $18.5M+8.9%

Revenue & EPS history

ResMed · Revenue · Quarterly

$1.22B

Q1 2025+11.1%vs Q1 2024
Beat estimate in 7 of 15 quarters(47%)
ActualEstimate

Revenue by segment

ResMed · $963M total across 2 segments · Q1 2024

  • Total Devices
    $565M
  • Total Masks and other
    $398M

Forward guidance

ResMed held its 2024 Investor Day and unveiled ResMed’s 2030 strategy to drive growth, profitability, and shareholder returns. As part of Investor Day, ResMed announced five-year revenue and earnings growth outlook, supported by ResMed’s plans to accelerate product and technology innovation, operational excellence, commercial execution, and financial strength. ResMed’s updated ambition is to help more than 500 million people achieve their full health potential in 2030.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2025

Historical avgQ1 2025

+0.1%

Avg return

Earnings day

+0.7%

Avg return

5 days after

+1.2%

Avg return

30 days after

49%

33 / 67 earnings

Positive

+18.7%

Q3 2024

Best reaction

-19.3%

Q2 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2026-2.9%-2.0%-10.8%
Q2 2026-1.5%+2.1%-0.5%
Q1 2026-1.5%-2.8%+1.4%
Q3 2025+10.1%+10.9%+13.2%
Q2 2025-8.3%-5.8%-9.4%
Q1 2025+7.9%+2.9%+2.7%
Q4 2024+4.9%+2.6%+14.9%
Q3 2024+18.7%+16.4%+16.0%
Q2 2024+6.5%+9.3%+5.2%
Q1 2024-4.2%+0.5%+9.5%
Q4 2023-19.3%-19.3%-28.3%
Q3 2023+7.6%+5.4%-3.8%
Q2 2023-2.8%-1.2%-8.5%
Q1 2023-6.5%-5.6%-1.7%
Q4 2022-1.5%-3.1%-3.1%
Q3 2022-6.9%-8.5%-3.0%
Q2 2022-6.5%+0.5%+6.2%
Q1 2022-1.9%-2.1%-6.3%
Q4 2021+0.5%+0.7%+8.3%
Q3 2021-10.6%-8.6%-2.0%
Q2 2021-5.8%-3.5%-9.9%
Q1 2021+6.2%+12.1%+16.0%
Q4 2020-13.4%-13.6%-14.4%
Q3 2020+1.8%+2.0%+2.9%
Q2 2020-4.1%+0.6%-4.1%
Q1 2020+13.8%+15.7%+14.6%
Q4 2019+1.1%+3.8%+5.4%
Q3 2019+7.9%+7.6%+9.3%
Q2 2019-19.3%-21.5%-13.6%
Q1 2019+6.2%+7.3%+5.7%
Q4 2018-2.1%+0.7%+4.1%
Q3 2018-2.1%-1.4%+6.9%
Q2 2018+13.2%+15.9%+5.1%
Q1 2018+7.7%+7.4%+8.6%
Q4 2017-6.0%-2.6%+0.6%
Q3 2017-5.2%-2.7%-2.3%
Q2 2017+9.5%+7.1%+13.7%
Q1 2017-5.0%-5.3%-8.7%
Q4 2016+5.8%+6.5%+6.0%
Q3 2016-7.4%
Q2 2016+7.1%
Q1 2016+0.1%
Q4 2015+3.6%
Q3 2015-10.3%
Q2 2015+8.6%
Q1 2015+9.5%
Q4 2014-4.1%
Q3 2014-0.4%
Q2 2014-5.7%
Q1 2014-13.2%
Q4 2013+0.5%
Q3 2013+0.9%
Q2 2013+7.0%
Q1 2013-4.7%
Q4 2012+12.8%
Q3 2012+7.6%
Q2 2012+9.7%
Q1 2012-12.0%
Q4 2009-5.4%
Q4 2011-5.4%
Q3 2011-0.9%
Q3 2010-0.9%
Q2 2010+2.2%
Q2 2011+2.2%
Q1 2010+3.6%
Q1 2011+3.6%
Q4 2010+3.6%

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