Slide 1: Q4 FY2024 Earnings
Q4 FY2024 Earnings August 1, 2024
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 cha
Slide 4: 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 4Q24 revenue $4.7B 35% by business 29% by region LTM 4Q24 52% LTM 4Q24 58% Listed (NYSE, ASX) 1995, RMD Market cap2 ~$30B Countries served 140+ ▪ Devices ▪ U
Slide 5: ResMed 2025: a patient-centric, digitally-enabled strategy
ResMed 2025: a patient-centric, digitally-enabled 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 Global health epidemics in sleep apnea, COPD, other major
Slide 6: Solutions for three of the world's most prevalent chronic diseases
We provide market-leading solutions for three of the world’s most prevalent and significant chronic diseases In our primary market, sleep apnea, the global ~1B prevalence is enormous with sleep apnea and growing1 Our secondary markets of COPD, and insomnia provide additional opportunities for digita
Slide 7: Delivering digital health solutions that improve outcomes and lower costs
We do this by delivering digital health solutions that improve outcomes and lower costs ecosystem Patient outcomes Artificial intelligence Connected devices and digital health Out-of-hospital SaaS platforms CLINICIAN DATA Business outcomes APPS/DIGITAL THERAPEUTICS Machine learning IDN PATIENT/ Oper
Slide 8: ResMed is the global leader in connected & digital health
ResMed is the global leader in connected & digital health Nearly 19 billion nights of respiratory medical data 28+ million patients in AirView ~26 million 100% cloud connectable devices worldwide 3.5+ million diagnostic tests processed in the cloud 150+ million accounts in out-of-hospital care netwo
Slide 9: Priorities that guide our daily focus
Priorities that guide our daily focus Our triple aim: I. Slow chronic Deliver world-leading Build the world's best disease progression Grow and differentiate medical devices and software solutions our core sleep apnea, digital health technology network for healthcare II. Reduce overall and COPD busi
Slide 10: Very large, under-penetrated opportunity to reach and serve OSA patients
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 11: Real-world data: GLP-1s and PAP therapy initiation
Real-world data analysis in Sleep Apnea (OSA) population shows a significant positive correlation between GLP-1s and PAP therapy GLP-1 initiated1,2 vs. non-GLP-1 initiated OSA patients1 Likely to initiate PAP therapy3 +1070 bps Patients with an OSA diagnosis and prescribed a GLP-1 drug are 10.7% mor
Slide 12: Real-world data: GLP-1s and PAP resupply rates
Real-world data analysis in Sleep Apnea (OSA) population shows a significant positive correlation between GLP-1s and PAP therapy GLP-1 initiated1,2 vs. non-GLP-1 initiated OSA patients1 PAP resupply rates4 PAP resupply rates4 1-year post-setup 2-years post-setup Patients with an +530 bps OSA diagnos
Slide 13: Financial Results
Financial Results
Slide 14: Q4 FY24 financial results
Q4 FY24 financial results Revenue by Business Q4 FY24 12% Devices Revenue ($M) Non-GAAP Operating Non-GAAP EPS Masks and other Income ($M) OOH SaaS $1,223.2 52% 36% $1,122.1 $2.08 $400.5 $1.60 $307.0 Revenue by Region Q4 FY24 U.S., Canada, 12% and Latin America Europe, Asia, Q4 FY23 Q4 FY24 Q4 FY23
Slide 15: Solid balance sheet
Solid balance sheet Operating Cash Flow ($M) Capital Expenditures ($M) Free Cash Flow ($M) $1,401.3 $1,301.8 Total debt outstanding $707M Less: Cash & cash equiv. $238M $134.8 $693.3 $119.7 $573.6 Net Debt $469M $99.5 $351.1 $216.3 Unused borrowing capacity $1,470M LTM 4Q22 LTM 4Q23 LTM 4Q24 LTM 4Q2
Slide 16: Track record of strong financial returns for shareholders
Track record of strong financial returns for shareholders (Financial data as of June 30, 2024) Revenue ($B) Non-GAAP Operating Income ($M) Non-GAAP EPS 12% CAGR 16% CAGR 16% CAGR $4.7 $1,478 $7.72 $2.6 $716 $3.64 LTM 4Q19 LTM 4Q24 LTM 4Q19 LTM 4Q24 LTM 4Q19 LTM 4Q24 NOTE: See reconciliation to GAAP
Slide 17: Strategic capital allocation framework
Strategic capital allocation framework Strategic Capital deployed over last 3 years • Reinvest in product development for Growth (through June 30, 2024) Priorities Reinvest for high-return organic growth growth 5% • 7% of revenue invested in R&D • Actively evaluate potential acquisitions 29% 26% Pur
Slide 18: 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 19: Contact Investor Relations
Contact Investor Relations Phone: (858) 836-5971 Email: investorrelations@resmed.com Website: investor.resmed.com
Slide 20: Appendix
APPENDIX
Slide 21: 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 22: 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, 2024 June 30, 2023 June 30, 2024 June 30
Slide 23: 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