Slide 1: Q2 FY2025 Earnings
Q2 FY2025 Earnings January 30, 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 13% 13% Founded 1989 Revenue Revenue LTM 2Q25 revenue $4.9B 35% by business 29% by region LTM 2Q25 52% LTM 2Q25 58% Listed (NYSE, ASX) 1995, RMD Market cap2 ~$38B Countries served 140+ Devices U
Slide 4: 2030 Strategy
2030 OUR STRATEGY OUR STRATEGY OUR KEY FOCUS CAPABILITIES AREAS We will create products people love as well as seamless, personalized Empower our teams Sleep Health pathways for access Prioritize AI Breathing Health to life-changing care OUR Build trust FINANCIAL OUR Health Tech at Home MISSION GOAL
Slide 5: We integrate intelligent products and solutions to drive better experience, lower costs, and improve outcomes
We integrate intelligent products and solutions to drive better experience, lower costs, and improve outcomes Driving value for patients, Mask/accessory providers, and ResMed resupply within ecosystem Intelligent Consumer Engagement Improve Increase Scale in adoption and patient long-term installed
Slide 6: ResMed is the global leader in connected & digital health
ResMed is the global leader in connected & digital health Nearly 21 billion nights of respiratory medical data 30.5+ million patients in AirView 28+ million 100% cloud connectable devices worldwide 3.8+ million diagnostic tests processed in the cloud 155+ million accounts in Residential Care Softwar
Slide 7: ResMed's 2030 operating model accelerates ability to reach consumers
ResMed’s 2030 operating model accelerates ability to reach consumers where they are, execute and unlock value Focused and strategic roadmap PRODUCT-LED … increase product velocity Dynamic global revenue team CUSTOMER-CENTRIC … increase profitable growth Unified global marketing team BRAND-ENHANCED …
Slide 8: Our goal is to empower 500 million lives in 2030
Our goal is to empower 500 million lives in 2030 We're proud to offer connected and digital heath tech solutions that help those with sleep and breathing health challenges live happier, healthier lives with care in the comfort of the home or care setting of their choice During the last 12 months, we
Slide 9: Financial Results
Financial Results
Slide 10: Q2 FY25 financial results
Q2 FY25 financial results GAAP Operating Income ($M) GAAP EPS Revenue by Business Q2 FY25 $2.34 $417.2 12% Devices Revenue ($M) Masks and other $1.42 OOH RCS 52% $275.1 36% $1,282.1 $1,162.8 Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 Revenue by Region Q2 FY25 Non-GAAP Operating Non-GAAP EPS Income ($M) U.S., C
Slide 11: Solid balance sheet
Solid balance sheet Operating Cash Flow ($M) Capital Expenditures ($M) Free Cash Flow ($M) Total debt outstanding $673M $1,391.7 $1,476.3 $1,079.1 Less: Cash & cash equiv. $522M $962.5 $133.5 $116.7 Net Debt $151M $370.2 $84.6 $236.7 Unused borrowing capacity $1,500M LTM 2Q23 LTM 2Q24 LTM 2Q25 LTM 2
Slide 12: Track record of strong financial returns for shareholders
Track record of strong financial returns for shareholders (Financial data as of December 31, 2024) Revenue ($B) GAAP / Non-GAAP Operating Income ($M) GAAP / Non-GAAP EPS $1,560 19% CAGR 22% CAGR $8.47 GAAP GAAP $647 $4.9 $3.14 12% CAGR LTM 2Q20 LTM 2Q25 LTM 2Q20 LTM 2Q25 $2.8 $1,636 16% CAGR $8.84 N
Slide 13: Strategic capital allocation framework prioritizes innovation
Strategic capital allocation framework prioritizes innovation Strategic Capital deployed over last 3 years • Reinvest in product development for Growth (through December 31, 2024) Priorities Reinvest for high-return organic growth growth 9% • 6-7% of revenue invested in R&D • Actively evaluate poten
Slide 14: 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 breathing health and COPD • Recurring revenue • Long-term growth opportunities • Healthc
Slide 15: Contact Investor Relations
Contact Investor Relations Phone: (858) 836-5000 Email: investorrelations@resmed.com Website: investor.resmed.com 15 © 2025 ResMed | Q2 2025 Earnings Presentation – Jan. 30, 2025
Slide 16: Appendix
APPENDIX
Slide 17: Global OSA prevalence
ResMed has a very large, under-penetrated opportunity to reach and serve OSA patients globally, including a broad range of pharma impact scenarios TAM without pharma impact TAM mid-pharma impact TAM high-pharma impact Global OSA patient prevalence from latest epidemiology data ResMed Connected Devic
Slide 18: Real-world data analysis 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 Likely to initiate PAP PAP resupply rates4 PAP resupply rates4 diagnosis and prescribed a therapy3 1-
Slide 19: 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) Three Months Ended Six Mo
Slide 20: 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) Three Months Ended Six Months Ended December 31, December 31, December 31, December 31,
Slide 21: 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) Three Months Ended S