Slide 1: Q4 FY26 Earnings Call
Q4 FY26 Earnings Call August 6, 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. ("Resmed"), its subsidiaries, and its legal entities for the periods indicated. This presentation includes financial informa
Slide 3: Strong results in Q4 closed out another great fiscal year
Strong results in Q4 closed out another great fiscal year Q4 FY26 FY26 Total Revenue $1.5B $5.7B 9% HL YoY growth 10% HL YoY growth 8% CC YoY growth 8% CC YoY growth Non-GAAP EPS $2.95 $11.17 16% YoY growth 17% YoY growth Free Cash Flow $404M $1.6B $287M Returned to $1B Returned to Shareholders1 Sha
Slide 4: Resmed key areas of focus
Resmed key areas of focus 1 2 3 Invest in Business and Operational and Active Portfolio Return Capital to Innovation Excellence Management Shareholders Key areas of focus that will continue contributing to Resmed’s growth and transformation © 2026 Resmed. 4
Slide 5: Improvement of sleep pathway through key partnerships
I. Operational & Innovation II. Active Portfolio III. Business Investment & Excellence Management Return of Capital Improvement of sleep pathway through key partnerships + partnered to expand access to sleep health education and care: 3 4 Member has the Potential option to Resmed patient connect wit
Slide 6: Real-world data analysis now shows >2.5M patients on GLP-1s both initiate CPAP more and stay on therapy
I. Operational & Innovation II. Active Portfolio III. Business Investment & Excellence Management Return of Capital Real-world data analysis now shows >2.5M patients on GLP-1s both initiate CPAP more and stay on therapy GLP-1 initiated1,2 vs. non-GLP-1 initiated OSA patients1 Patients with an OSA di
Slide 7: PAP Leads GLP-1s in OSA treatment initiation
I. Operational & Innovation II. Active Portfolio III. Business Investment & Excellence Management Return of Capital PAP Leads GLP-1s in OSA treatment initiation ✓ Among newly diagnosed OSA patients, Time from sleep test to receipt of therapy PAP was initiated earlier than GLP-1s after label expansio
Slide 8: Demographic shifts in our OSA patient population toward more women and younger patients
I. Operational & Innovation II. Active Portfolio III. Business Investment & Excellence Management Return of Capital We are seeing demographic shifts in our OSA patient population toward more women and younger patients Female patients represent a larger share of new patient starts (+4 pts vs. 2019) S
Slide 9: Clinicians are highly engaged with Resmed education programs
I. Operational & Innovation II. Active Portfolio III. Business Investment & Excellence Management Return of Capital Clinicians are highly engaged with Resmed education programs focused on sleep ✓ >95,000 CME courses completed Up ~15K ✓By >55,000 clinicians Up ~10K ✓With ~77% clinical practices with
Slide 10: Resmed is an innovation machine
I. Operational & Innovation II. Active Portfolio III. Business Investment & Excellence Management Return of Capital Resmed is an innovation machine Devices Masks Digital AirSenseTM 11 and AirCurveTM 11 ST/ST-A AirTouchTM N30i DawnTM • Fabric-wrapped nasal mask designed • Our digital sleep coach in m
Slide 11: Active portfolio management: sharpening focus on growth areas
I. Operational & Innovation II. Active Portfolio III. Business Investment & Excellence Management Return of Capital Active portfolio management: sharpening focus on growth areas ACQUISITION Closed June 1, 2026 DIVESTITURE Announced July 7, 2026 | Expected close ~September 1, 2026 FDA De Novo classif
Slide 12: Accelerating shareholder returns; confident in our 5-year outlook
I. Operational & Innovation II. Active Portfolio III. Business Investment & Excellence Management Return of Capital Accelerating shareholder returns; confident in our 5-year outlook Shareholder Returns 5-Year Global Outlook Underpinned by 2030 Strategy: ✓ Accelerating our + Increasing overall market
Slide 13: Q4 Financial Results and FY 2027 Guidance
Q4 Financial Results and FY 2027 Guidance
Slide 14: Q4 FY26 Global revenue results
Q4 FY26 Global revenue results Americas Sleep Devices Americas Life Support Devices Americas Masks & Other Total Revenue Revenue Revenue Revenue ($ in billions) +8% CC ⇧ +8% ⇧ (36%) ⇩ +13% ⇧ $1,731 $37 $1,513 $5.7 +8% CC ⇧ +8% ⇧ (45%) ⇩ +10% ⇧ $1.5 $452 $394 $7 Q4 FY26 FY26 Q4 FY26 FY26 Q4 FY26 FY26
Slide 15: Q4 FY26 Rest of P&L
Q4 FY26 Rest of P&L Non-GAAP Gross Margin1 Non-GAAP Operating Margin 90 bps ⇧ 240 bps ⇧ 10 bps ⇩ 180 bps ⇧ 62.3% 62.4% 35.2% 36.1% Q4 FY26 FY26 Q4 FY26 FY26 Non-GAAP Earnings Per Share Free Cash Flow2 ($ in actuals) ($ in millions) +17% ⇧ (1%) ⇩ $11.17 $1,650 +16% ⇧ (21%) ⇩ $2.95 $404 Q4 FY26 FY26 Q
Slide 16: Executed against our strategic priorities in 2026
Executed against our strategic priorities in 2026 Operational and Innovation Invest in Business and Return Active Portfolio Management Excellence Capital to Shareholders DISCIPLINED MARGIN EXECUTION INTEGRATION SHAREHOLDER RETURN Gross Margin Expansion VirtuOx Integrated $1B returned to shareholders
Slide 17: FY27 Revenue guidance: core constant currency and headline
FY27 Revenue guidance: core constant currency and headline 5% - 7% YoY Core CC Revenue Growth $5.75B - $5.85B Includes ~130 bps (or) ~$75M HL Total Revenue headwind from Astral For FY27 & FY26: For FY27: • Only 2 months of MatrixCare revenue included • Only 2 months of MatrixCare revenue included •
Slide 18: FY27 Fully diluted non-GAAP EPS guidance
FY27 Fully diluted non-GAAP EPS guidance 12% - 14% Growth $12.00 - $12.251 $11.17 ($0.20) ($0.30) $1.33 - $1.58 FY26 EPS (-) Noctrix (-) MatrixCare (+) Core contribution FY27 EPS Note: Data as of June 30, 2026. Resmed’s fiscal year end is June 30th. © 2026 Resmed. 18 Note: All forward looking non-GA
Slide 19: FY27 P&L guidance considerations
FY27 P&L guidance considerations Margin Expansion MaxtrixCare Business1 Update ✓ Expect low double-digit basis point non- GAAP gross margin expansion $220M $58M FY26 Revenue FY26 Non-GAAP o Impacts from inflation across electronic Operating Profit components and freight, more than offset by continue
Slide 20: Disciplined capital allocation strategy supports both business growth and return of capital to shareholders
Disciplined capital allocation strategy supports both business growth and return of capital to shareholders Strategic Growth FY27 capital expenditures of $160-180 million, supporting automation expansion Priorities CapEx Priorities and manufacturing footprint to address growing global demand Pursue
Slide 21: Q1 FY27 Preliminary trends
Q1 FY27 Preliminary trends Core Constant Currency Gross Margin Operating Expenses Revenue Down Slightly Contracting Roughly Flat QoQ YoY QoQ Q1 revenue typically Gross margin to expand down a few percentage low double-digit basis points sequentially from points in FY27 Q4 Note: Data as of June 30, 2
Slide 22: Chief Financial Officer key priorities
Chief Financial Officer key priorities Growth Transformation Shareholder Returns • Expanding the sleep • Disciplined capital allocation • Enhanced transparency opportunity • Leveraging AI and • Commitment to dividend and • Optimizing the patient technology opportunistic buybacks experience • Finance
Slide 23: Resmed remains a highly compelling investment opportunity
Resmed remains a highly compelling investment opportunity Large, underpenetrated, and growing target market Well-positioned to drive growth and serve more patients Differentiated financial profile delivering sustained shareholder value © 2026 Resmed. 23
Slide 24: Contact Investor Relations
Contact Investor Relations Phone: +1 (858) 221-3304 Email: InvestorRelations@Resmed.com Website: Investor.Resmed.com
Slide 25: Appendix
APPENDIX
Slide 26: 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 400M 480M globally globally RLS Overlap COPD syndrome Underpenetrated OSA Market1 <20% <10% U.S. Rest of World 1B+ People OS
Slide 27: Key megatrends are driving patients and providers to Resmed's ecosystem
Key megatrends are driving patients and providers to Resmed’s ecosystem Consumers are Widespread Wearables Consumers AI and digital Massive pressure more focused adoption of spotlight sleep demand an health are on healthcare on their health GLP-1 apnea and elevated changing how systems; payers / th
Slide 28: More than 28 billion nights of respiratory medical data
Unmatched scale in connected respiratory & digital health More than 28 billion nights of respiratory medical data (up ~2B) 37+ million Up ~1M 35+ million Up ~1M patients in AirView 100% cloud connectable devices worldwide v 4.8+ million Up ~0.2M v 182+ million Up ~4M diagnostic tests processed in th
Slide 29: 2030 Strategy
2030 OUR STRATEGY OUR OUR KEY Strategy FOCUS AREAS CAPABILITIES 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 30: 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 and field safety notification expenses and are reconciled below: (Unaudited; $ in thousands, except for per share amounts) Note regard
Slide 31: Reconciliation of non-GAAP financial measures (cont'd)
Reconciliation of non-GAAP financial measures (cont’d) The measures “non-GAAP selling, general, and administrative expenses” and “non-GAAP selling, general, and administrative expenses as a percentage of revenues” exclude acquisition and portfolio review related expenses and are reconciled below: (U
Slide 32: 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) Note regarding non-GAAP reconciliations (A) Resmed adjusts for the impact of the amorti
Slide 33: Reconciliation of non-GAAP financial measures (cont'd)
Reconciliation of non-GAAP financial measures (cont’d) The measures “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) Note regarding non