Resmed Inc. · NYSE:RMD
Resmed — William Blair Growth Stock Conference 2026
21 slides from Resmed's conference presentation, Jun 2, 2026
Slide 1: William Blair Growth Stock Conference Presentation
William Blair Growth Stock Conference Presentation Mick Farrell, CEO & Chairman June 2, 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 More than 26 billion nights of respiratory medical data Headquarters San Diego, CA 12% 12% Founded 1989 Revenue Revenue Listed (NYSE, ASX) 1995, RMD by business by region 37% 30% LTM 3Q26 51% LTM 3Q26 58% LTM 3Q26 revenue $5.5B LTM 3Q26 oper
Slide 4: Resmed | A compelling investment opportunity today
Resmed | A compelling investment opportunity today ✓ Target markets are very large and significantly underpenetrated ✓ Key mega trends in big tech and pharma are driving patients to our sleep ecosystem ✓ Resmed is well-positioned with differentiated products, a robust innovation pipeline, and supply
Slide 5: Track record of strong financial returns for shareholders
Track record of strong financial returns for shareholders Revenue Operating Income Earnings per Share ($ in millions) ($ in millions) ($ in actuals) $5,538 GAAP $1,893 GAAP $10.37 +12% CAGR +16% CAGR +27% CAGR $3,091 $885 $3.13 LTM 3Q21 LTM 3Q26 LTM 3Q21 LTM 3Q26 LTM 3Q21 LTM 3Q26 Free Cash Flow1 No
Slide 6: 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 400M3 480M globally globally RLS Overlap COPD syndrome Underpenetrated OSA Market1 <15 - 20% <5 - 10% U.S. Rest of World 1B+
Slide 7: Key megatrends are driving patients and providers to Resmed's ecosystem
Key megatrends are driving patients and providers to Resmed’s ecosystem Consumers are Wearables Consumers Widespread AI and digital Massive pressure more focused spotlight sleep demand an adoption of health are on healthcare on their health apnea and elevated GLP-1 changing how systems; payers / th
Slide 8: Partnership to expand access to sleep health education and care
+ Have partnered to expand access to sleep health education and care: 3 4 Member has the Potential option to Resmed patient connect with independent 2 provider, virtually 1 Member is or in person Oura member referred to experiences a Resmed’s higher number resources, of nighttime including a sleep b
Slide 9: Resmed is creating a more efficient, effective pathway to care
Resmed is 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
Slide 10: Expanded bilevel offerings with the launch of the AirCurve 11 ST
We have expanded our bilevel offerings with the launch of the AirCurve 11 ST & ST-A in the US AirCurve 11 ST AirCurve 11 ST-A Designed to support Designed to support noninvasive noninvasive ventilation ventilation with expanded modes for patients whose ventilatory needs may change over time Key Feat
Slide 11: 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 launched in China and Colombia • AirTouch N30i – fabric-wrapped nasal mask designed to deliver exceptional comfort for a more •
Slide 12: We launched AirConnect Dx in the UK on May 21
We launched AirConnect Dx in the UK on May 21 Digitally enabled, fully managed diagnostic pathway for sleep apnea diagnostics Integrated Automated study Digital screening & dashboards NHS data integration scoring At-home testing - providing real time – saves HCP time - accelerates patient - simplifi
Slide 13: We closed our acquisition of Noctrix, an FDA De Novo classified device for RLS
We closed our acquisition of Noctrix, an FDA De Novo classified device for Restless Leg Syndrome (RLS) Noctrix is a scarce, fast-growing asset; Resmed is the best owner • Non-invasive, drug-free, reversible therapy ~50% • Prescribed by sleep doctors who know Resmed well • Distributed through the sam
Slide 14: 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 Likely to initiate PAP resupply rates4 PAP resupply rates4 and prescribed a PAP therapy3 1-
Slide 15: Clinicians are highly engaged with Resmed education programs
Clinicians are highly engaged with Resmed education programs focused on sleep ✓More than 80,000 CME courses completed ✓By >45,000 clinicians ✓With ~78% clinical practices with regards to OSA Saying they intend to change their Note: Data as of March 31, 2026. © 2026 Resmed. 15
Slide 16: 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 • YTD FY26 capital expenditures of ~$105M (through March 31, 2026) • Tuck-in size a
Slide 17: Resmed's global outlook is underpinned by a strong foundation and execution of our 2030 Strategy
Resmed’s global outlook is underpinned by a strong foundation and execution of our 2030 Strategy Global Outlook Underpinned by 2030 Strategy: High single digits + Increasing overall market growth via accelerating demand generation % Revenue Growth + Optimizing the patient pathway to diagnosis and th
Slide 18: Resmed | The global leader in connected and digital health
Resmed | The global leader in connected and digital health ✓ Target markets are very large and significantly underpenetrated, providing an ongoing opportunity for strong revenue growth, operating leverage, and free cash flow ✓ Key mega trends in big tech and pharma are driving patients to our sleep
Slide 19: APPENDIX
APPENDIX
Slide 20: Closed acquisition of Noctrix, an FDA De Novo classified device for RLS
Closed acquisition of Noctrix, an FDA De Novo classified device for refractory moderate-to-severe Restless Leg Syndrome (RLS) RLS Attractiveness Nidra Therapy Traction • RLS affects ~7% of adults globally1 • Nidra highly resonating with patients and prescribers4 overlapping with OSA Physician future
Slide 21: Strong free cash flow and balance sheet
Strong free cash flow and balance sheet Operating Cash Flow Capital Expenditures Free Cash Flow As of March 31, 2026: ($ in millions) ($ in millions) ($ in millions) $1,890.0 Total debt outstanding ~$664M $1,652.9 $1,754.2 $1,568.8 Less: Cash & cash equiv. ~$1,661M $1,198.6 $1,089.6 $135.7 Net Cash