Resmed Inc. · NYSE:RMD
Resmed — Q1 2024 Earnings Presentation
18 slides from Resmed's earnings presentation, Oct 26, 2023
Slide 1: Q1 FY2024 Earnings
Q1 FY2024 Earnings October 26, 2023
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., its subsidiaries, and its legal entities, for the periods indicated. This presentation includes financial information prepa
Slide 3: Our mission is to change 250 million lives in 2025
Our mission is to change 250 million lives in 2025 We're proud to offer digital and connected health solutions that help those with sleep apnea, COPD, and other respiratory diseases live happier, healthier lives in the comfort of home or care setting of their choice During the last 12 months, we cha
Slide 4: ResMed | The global leader in connected and digital health
ResMed | The global leader in connected and digital health Key Statistics1 Headquarters San Diego, CA 12% 12% Founded 1989 Revenue Revenue LTM 1Q24 revenue $4.4B 35% by business 30% by region LTM 1Q24 53% LTM 1Q24 58% Listed (NYSE, ASX) 1995, RMD Market cap2 ~$21B Countries served 140+ ▪ Devices ▪ U
Slide 5: ResMed 2025: a patient-centric, digitally-enabled strategy
ResMed 2025: a patient-centric, digitally-enabled strategy 250 million lives improved in out-of-hospital healthcare in 2025! Purpose Empower people to live happier, healthier, and higher quality lives in the comfort of their home Growth Focus Global health epidemics in sleep apnea, COPD, other major
Slide 6: Priorities that guide our daily focus
Priorities that guide our daily focus Our triple aim: I. Slow chronic Grow and differentiate Deliver world-leading Build the world's best disease progression our core sleep apnea, medical devices and software solutions COPD, and asthma digital health technology network for healthcare II. Reduce over
Slide 7: Global OSA patients
ResMed has a very large and underpenetrated addressable market through 2050, including the potential impact of aggressively adopted weight-loss-class drugs Global OSA patient population estimates and ResMed installed base of connected sleep devices 2050 without pharma impact: 1,400 M ~1.4B[2] patien
Slide 8: Financial Results
Financial Results
Slide 9: Q1 FY24 financial results
Q1 FY24 financial results Revenue by Business Q1 FY24 13% Revenue ($M) Devices Non-GAAP Operating Non-GAAP EPS Income ($M) 51% Masks and other $1,102.3 36% OOH SaaS $950.3 $318.8 $290.8 $1.70 $1.64 $1.51 $1.50 $1.30 Revenue by Region $1.10 Q1 FY24 $0.90 $0.70 U.S., Canada, 13% and Latin $0.50 Americ
Slide 10: Solid balance sheet
Solid balance sheet Operating Cash Flow ($M) Capital Expenditures ($M) Free Cash Flow ($M) $934.9 $814.3 Total debt outstanding $1,361M Less: Cash & cash equiv. $209M $527.1 $136.6 $461.5 $410.5 $116.6 $120.7 $324.9 Net Debt $1,152M Unused borrowing capacity $825M LTM 1Q22 LTM 1Q23 LTM 1Q24 LTM 1Q22
Slide 11: Track record of strong financial returns for shareholders
Track record of strong financial returns for shareholders (Financial data as of September 30, 2023) Revenue ($B) Non-GAAP Operating Income ($M) Non-GAAP EPS 13% CAGR 14% CAGR 12% CAGR $4.4 $6.56 $1,252 $2.4 $3.68 $639 LTM 1Q19 LTM 1Q24 LTM 1Q19 LTM 1Q24 LTM 1Q19 LTM 1Q24 NOTE: See reconciliation to
Slide 12: Strategic capital allocation framework
Strategic capital allocation framework Strategic Capital deployed over last 3 years • Reinvest in product development for Growth (through September 30, 2023) Priorities Reinvest for high-return organic growth growth • 7% of revenue invested in R&D 27% • Actively evaluate potential acquisitions 29% P
Slide 13: Driving long-term shareholder value
Driving long-term shareholder value Growth & Innovation Market Dynamics Financial Results • Global leader in digital health for • Underpenetrated markets in sleep • Historical revenue and profit growth sleep and respiratory care and COPD • Recurring revenue • Long-term growth opportunities • Healthc
Slide 14: Contact Investor Relations
Contact Investor Relations Phone: (858) 836-5971 Email: investorrelations@resmed.com Website: investor.resmed.com
Slide 15: Appendix
APPENDIX
Slide 16: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures The measures “non-GAAP gross profit” and “non-GAAP gross margin” exclude amortization expense from acquired intangibles related to cost of sales and are reconciled below: (Unaudited; $ in thousands, except for per share amounts) Note regarding non-GAAP r
Slide 17: Reconciliation of non-GAAP financial measures, cont'd
Reconciliation of non-GAAP financial measures, cont’d The measure “non-GAAP income from operations” is reconciled with GAAP income from operations below: (Unaudited; $ in thousands, except for per share amounts) Note regarding non-GAAP reconciliations (A) ResMed adjusts for the impact of the amortiz
Slide 18: Reconciliation of non-GAAP financial measures, cont'd
Reconciliation of non-GAAP financial measures, cont’d The measure “non-GAAP net income” and “non-GAAP diluted earnings per share” are reconciled with GAAP net income and GAAP diluted earnings per share in the table below: (Unaudited; $ in thousands, except for per share amounts) Note regarding non-G