Resmed Inc. · NYSE:RMD
Resmed — JPM Healthcare Conference 2026
20 slides from Resmed's conference presentation, Jan 12, 2026
Slide 1: JPM Healthcare Conference Presentation
JPM Healthcare Conference Presentation Mick Farrell, CEO & Chairman January 12, 2026 June 4, 2025
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 prepar
Slide 3: 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 Listed (NYSE, ASX) 1995, RMD 36% by business 30% by region LTM 1Q26 52% LTM 1Q26 58% LTM 1Q26 revenue $5.3B LTM 1Q26 operating margin 33% | 35% (GAAP/Non-GAAP) C
Slide 4: Resmed: a compelling investment amid global macro uncertainty
Resmed: a compelling investment amid global macro uncertainty ✓ Target markets are very large and significantly underpenetrated ✓ Key mega trends in big tech and pharma are driving patients to our sleep ecosystem ✓ Resmed is well-positioned with differentiated products, a robust innovation pipeline,
Slide 5: Large, underpenetrated total addressable market = long runway for growth
Large, underpenetrated total addressable market = long runway for growth MARKET FOR DEVICES MARKET FOR MASKS Growing in the Growing in the mid-single digits high-single digits globally globally 480M COPD Underpenetrated OSA Market1 Overlap syndrome <20% <10% U.S. Rest of World 850M COMISA 1B People
Slide 6: Key megatrends are driving patients and providers to Resmed's ecosystem
Key megatrends are driving patients and providers to Resmed’s ecosystem Consumers are Widespread Wearables Consumers AI and digital Massive pressure more focused adoption of spotlight sleep demand an health are on healthcare on their health GLP-1 apnea and elevated changing how systems; payers / th
Slide 7: Resmed is an innovation machine across hardware, software, and digital patient interfaces
Resmed is an innovation machine across hardware, software, and digital patient interfaces AirSenseTM 11 Rollout to Global Markets World’s First Fabric Masks • Most recently Korea, Brazil, Chile, Mexico • AirTouch N30i – fabric-wrapped nasal mask designed to deliver exceptional comfort for a more • C
Slide 8: We are creating a more efficient, effective pathway to care
We are creating a more efficient, effective pathway to care OPT -IN MAKE THERAPY CHOICE ON THERAPY LIFETIME VALUE STAGE STAGE STAGE STAGE STAGE STAGE STAGE 1 2 3 4 5 6 7 Awareness Testing Diagnosis Prescribed PAP Start PAP therapy Compliant in 90 Days Remain after 1 Year Somnoware myAir Brightree RE
Slide 9: More than 24 billion nights of respiratory medical data
Resmed is the global leader in connected & digital health More than 24 billion nights of respiratory medical data 34+ million 31.5+ million patients in AirView 100% cloud connectable devices worldwide v 4.3+ million v 170+ million diagnostic tests processed in the cloud accounts in Residential Care
Slide 10: Funnel growth potential from consumer tech detection of sleep apnea
Funnel growth potential from consumer tech detection of sleep apnea Samsung® Apple® Galaxy Watch Watch FDA de novo clearance for FDA clearance moderate to severe sleep for sleep apnea apnea detection (2024) detection (2024) Apple, Apple Health and Apple Watch are trademarks of Apple Inc., registered
Slide 11: Real-world data shows positive correlation between GLP-1s and PAP therapy
Real-world data analysis in sleep apnea population shows significant positive correlation between GLP-1s and PAP therapy GLP-1 initiated1,2 vs. non-GLP-1 initiated OSA patients1 Patients with an OSA diagnosis and Likely to initiate PAP therapy3 PAP resupply rates4 1-year post-setup PAP resupply rate
Slide 12: Clinicians are highly engaged with Resmed education programs focused on sleep
Clinicians are highly engaged with Resmed education programs focused on sleep ✓Nearly 60,000 CME courses completed ✓By >35,000 clinicians ✓With ~77% clinical practices with regards to OSA Saying they intend to change their © 2026 Resmed. 12
Slide 13: Our expanding manufacturing and distribution footprint positions Resmed well
Our expanding manufacturing and distribution footprint positions Resmed well to flexibly support global growth Indianapolis, IN • New distribution facility, Atlanta, GA to be operational in 2027 • 467k square feet • Allows Resmed to ship to • Manufacturing, warehouse, and Singapore ~90% of our custo
Slide 14: FY26 global outlook underpinned by strong financial management
FY26 global outlook underpinned by strong financial management Gross Margin, Non-GAAP1 SG&A Expenses 19% - 20% of revenue 61%- 63% 62.0% 61.4% 59.2% 59.9% R&D Expenses 6% - 7% of revenue 2Q25 3Q25 4Q25 1Q26 FY26 Pipeline of Margin Improvement Drivers + Freight optimization + Logistics efficiencies E
Slide 15: Disciplined capital allocation supports both business growth and return of capital to shareholders
Disciplined capital allocation supports both business growth and return of capital to shareholders Strategic • 6-7% of revenue invested in R&D2 Capital deployed over last 3 years Growth Reinvest Priorities for Growth • Q1 FY26 capital expenditures of $43M (through September 30, 2025) • Tuck-in size
Slide 16: Resmed's 2030 strategy accelerates ability to reach consumers where they are
Resmed's 2030 strategy accelerates ability to reach consumers where they are, to drive growth and unlock value Focused and strategic PRODUCT-LED roadmap … increase product velocity Dynamic global revenue team CUSTOMER-CENTRIC … increase profitable growth Unified global marketing team BRAND-ENHANCED
Slide 17: Track record of strong financial returns for shareholders
Track record of strong financial returns for shareholders (Financial data as of September 30, 2025) Revenue ($M) GAAP / Non-GAAP1 Operating Income ($M) GAAP / Non-GAAP1 EPS $1,745 $9.77 15% CAGR 16% CAGR GAAP GAAP $5,257 $855 $4.66 12% CAGR $3,028 LTM 1Q21 LTM 1Q26 LTM 1Q21 LTM 1Q26 $9.90 $1,839 14%
Slide 18: 5-Year global outlook underpinned by strong foundation and execution of 2030 Strategy
5-Year global outlook underpinned by strong foundation and execution of 2030 Strategy 5-Year Global Outlook Underpinned by 2030 Strategy: High single digits + Increasing overall market growth via accelerating demand generation % Revenue Growth + Optimizing the patient pathway to diagnosis and therap
Slide 19: Resmed CEO recently appointed Chair of AdvaMed's Board
Resmed CEO recently appointed Chair of AdvaMed’s Board Key Agenda Focus Areas 1 Accelerating patient-first innovation 2 Advancing digital transformation 3 Expanding global access to medtech © 2026 Resmed. 19
Slide 20: Resmed: a compelling investment amid global macro uncertainty
Resmed: a compelling investment amid global macro uncertainty ✓ Target markets are very large and significantly underpenetrated ✓ Key mega trends in big tech and pharma are driving patients to our sleep ecosystem ✓ Resmed is well-positioned with differentiated products, a robust innovation pipeline,