Resmed Inc. · NYSE:RMD
Resmed — Q4 FY2025 Earnings Presentation
22 slides from Resmed's earnings presentation, Jul 31, 2025
Slide 1: Q4 FY2025 Earnings
Q4 FY2025 Earnings July 31, 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 FY 2025 revenue $5.1B 36% by business 30% by region FY 2025 52% FY 2025 58% Listed (NYSE, ASX) 1995, RMD FY 2025 Operating Margin 33% | 34% (GAAP/Non-GAAP) Count
Slide 4: 2030 Strategy
2030 OUR STRATEGY STRATEGY OUR OUR KEY FOCUS CAPABILITIES AREAS We will create products people love as well as Sleep Health seamless, personalized Empower our teams pathways for access to Breathing Health life-changing care Prioritize AI OUR OUR Health Tech at Home Build trust FINANCIAL 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 Mask/accessory Driving value for patients, resupply within providers, and Resmed ecosystem Intelligent Consumer Engagement Improve patient Increase Scale in adoption experience1 long-term an
Slide 6: More than 23 billion nights of respiratory medical data
Resmed is the global leader in connected & digital health More than 23 billion nights of respiratory medical data 33+ million 30+ million patients in AirView 100% cloud connectable devices worldwide v 4.1+ million v 165+ million diagnostic tests processed in the cloud accounts in Residential Care So
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: Q4 Financial Results
Q4 Financial Results
Slide 10: A compelling investment amid global macro uncertainty
A compelling investment amid global macro uncertainty Free cash flow totaled ~$1.7B for fiscal year 2025, up ~28% year-over-year; free cash flow yield of more than 4% Balance sheet in a net cash position of $541M as of year-end fiscal year 2025 Gross margins continue to improve through manufac
Slide 11: Q4 FY25 financial results
Q4 FY25 financial results GAAP Operating Income GAAP EPS ($M) Revenue by Business Q4 FY25 $454.5 $2.58 Revenue $381.2 $1.98 ($M) 12% Devices Masks and other 52% $1,348.0 36% RCS $1,223.2 Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 Non-GAAP Operating Non-GAAP EPS Revenue by Region Income ($M) Q4 FY25 $476.4 U.S.
Slide 12: Strong free cash flow and balance sheet
Strong free cash flow and balance sheet Operating Cash Flow Capital Expenditures Free Cash Flow ($M) ($M) ($M) $1,751.6 $1,661.7 Total debt outstanding $668M $1,401.3 $1,301.8 Less: Cash & cash equiv. $1,209M $119.7 $693.3 Net Cash $541M $573.6 $99.5 $89.9 Unused borrowing capacity $1,500M FY 2023 F
Slide 13: Track record of strong financial returns for shareholders
Track record of strong financial returns for shareholders (Financial data as of June 30, 2025) Revenue ($M) GAAP / Non-GAAP Operating Income ($M) GAAP / Non-GAAP EPS $1,685 $9.51 16% CAGR 17% CAGR GAAP GAAP $5,146 $810 $4.27 12% CAGR $2,957 FY 2020 FY 2025 FY 2020 FY 2025 $9.55 15% CAGR $1,763 Non-G
Slide 14: Strategic capital allocation framework prioritizes innovation
Strategic capital allocation framework prioritizes innovation Strategic • Reinvest in product development for Capital deployed over last 3 years Reinvest high-return organic growth Growth (through June 30, 2025) Priorities for Growth • 6-7% of revenue invested in R&D 13% • Actively evaluate potentia
Slide 15: Driving long-term shareholder value
Driving long-term shareholder value Growth & Innovation Market Dynamics Financial Results • Reinvest in product development • Large and underpenetrated • Sustained strong revenue and for high-return organic growth market of more than 2.3 billion profit growth people worldwide with sleep • 6-7% of re
Slide 16: Contact Investor Relations
Contact Investor Relations Phone: (858) 836-5000 Email: investorrelations@Resmed.com Website: investor.Resmed.com 16
Slide 17: Appendix
APPENDIX
Slide 18: 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 Global OSA patient prevalence from latest epidemiology data 1.4 B ~1.4B[2] patients 1.3 B ~1.3B[3] patients 1.2 B ~1.2B[3] patients 1.1 B Global OSA prev
Slide 19: 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 prescribed a Likely to initiate PAP resupply rates4 PAP resupply rates4 GLP-1 drug are
Slide 20: 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 Twelve
Slide 21: 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 Twelve Months Ended June 30, 2025 June 30, 2024 June 30, 2025 June 30
Slide 22: 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 T