Resmed Inc. · NYSE:RMD
Resmed — Q1 FY2021 Earnings Presentation
18 slides from Resmed's earnings presentation, Oct 29, 2020
Slide 1: 1Q21 Earnings Conference Call
1Q21 Earnings Conference Call October 29 2020
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 chan
Slide 4: ResMed at a glance
ResMed at a glance KEY STATISTICS1 Revenue by Business Revenue by Region LTM 1Q21 LTM 1Q21 LTM 1Q21 REVENUE $3B FOUNDED 1989 Americas 12% 12% Sleep and LISTED (NYSE, ASX) 1995, RMD Devices Respiratory Care MARKET CAP ~$26B 51% Masks & Other 53% Europe, Asia 37% 35% and Other HEADQUARTERS San Diego,
Slide 5: ResMed 2025: a patient-centric, digitally-enabled strategy
ResMed 2025: a patient-centric, digitally-enabled strategy Expect impact of COVID-19 will accelerate this strategy 250 million lives improved in out-of-hospital healthcare in 2025! Purpose Empower people to live happier, healthier and higher quality lives in the comfort of their home Growth Focus Gl
Slide 6: Priorities that guide our daily focus
Priorities that guide our daily focus Our triple aim: I. Slow chronic Grow and differentiate Deliver world-leading Build the world's best disease progression our core sleep apnea, medical devices and software solutions COPD, and asthma digital health technology network for healthcare II. Reduce over
Slide 7: Business updates
Business updates SLEEP RESPIRATORY CARE SOFTWARE AS A SERVICE (SaaS) • Continuing to see signs of recovery in • Higher incremental ventilator sales to • Good demand for resupply solutions new patient diagnosis – varies by meet pandemic needs in certain as customers focus on resupply market and geogr
Slide 8: Financial Results
Financial Results
Slide 9: Q1 FY21 financial results
Q1 FY21 financial results Revenue by Business Q1 FY21 12% Devices Revenue ($M) Non-GAAP Operating Non-GAAP EPS FCF ($M) Income ($M) 50% Masks & Other +9% +24% +37% -7% 38% $800.0 $1.40 $145.0 SaaS $1.27 $139.7 $751.9 $250.0 $237.1 $140.0 $1.20 $750.0 $191.0 $135.0 $200.0 $1.00 $0.93 $130.5 $700.0 $6
Slide 10: Strong balance sheet and recurring free cash flow
Strong balance sheet and recurring free cash flow Operating Cash Flow ($M) Capital Expenditures ($M) Free Cash Flow ($M) Total debt outstanding $1,056M $783.9 $86.2 $697.7 $78.4 Less: Cash & cash equiv. $421M $573.3 $494.9 $59.5 $459.2 $399.7 Net Debt $635M Unused borrowing capacity $1,210M LTM 1Q19
Slide 11: Track record of strong financial returns for shareholders
Track record of strong financial returns for shareholders Revenue ($B) Non-GAAP Operating Income ($M) Non-GAAP EPS 12% CAGR 17% CAGR 15% CAGR $3.0 $937 $5.10 $1.7 $428 $2.55 LTM 1Q16 LTM 1Q21 LTM 1Q16 LTM 1Q21 LTM 1Q16 LTM 1Q21 Total shareholder return, TSR (NYSE shares as of 9/30/2020): 1-yr 28% |
Slide 12: Capital allocation overview
Capital allocation overview Higher Priority Reinvest in product development for $2.3B Deployed Reinvest for 3-Year History high-return organic growth; 7% of 2020 (through Sep. 30, 2020) Growth revenue invested in R&D 3% Actively evaluate potential acquisitions but 25% Pursue M&A pursue only those th
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” excludes 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 Septe
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) Three Months Ended September 30, September 30, 2020 2019 GAAP income from operations $ 2
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) Three Months Ended S