SAN DIEGO – For the quarter ended March 31, 2024, ResMed Inc. reported a revenue increase of 7% to $1.2 billion—up 7% on a constant currency basis when compared to previous year period.
Additional financial stats included:
• gross margin growth of 260 bps to 57.9%; non-GAAP gross margin growth of 240 bps to 58.5%;
• income increase from operations of 25% with non-GAAP operating profit up 23%;
• operating cash flow of $402 million and debt repayments of $220 million; and
• diluted earnings per share of $2.04 with non-GAAP diluted earnings per share of $2.13
“ResMed’s strong third-quarter fiscal year 2024 results reflect robust patient and customer demand for our products and software solutions, leading to double-digit mask and accessories revenue growth along with ongoing operational efficiencies to drive margin improvement and increased profitability, resulting in double-digit growth in both operating profit and earnings per share,” said Mick Farrell, ResMed’s chairman & CEO. “Over 2 billion people worldwide can benefit from a ResMed solution to help them sleep better, breathe better, and receive best-in-class healthcare right where they live.
“We remain laser-focused on bringing market-leading innovation to customers,” Farrell continued, “including our latest AirCurve11 range of non-invasive ventilators and our recently launched AirFit F40 mask system, combined with our entire portfolio of products, software, and solutions, allowing us to continue to deliver value for all our stakeholders.”
New SVP Of Operations At Encore Healthcare
LIVINGSTON, TN – Medtrade exhibitor Encore Healthcare has elevated Carrie Proffitt, RRT to the role of senior vice president of Operations. In her previous role as VP of Clinical Operations, Proffitt demonstrated exceptional leadership, dedication, and a deep commitment to Encore’s mission.
Over the last few years, her role has evolved from clinical operations to overall operations of the company’s software and service business lines. As the Encore Healthcare company has grown, Proffitt has stepped into creating processes and systems for the organization to follow; she will continue to do the same in this new role as she takes on leadership of technical teams.
The Encore team has successfully implemented the Nexus outcome-based respiratory & sleep platform to help HME providers move into value-based business models. Encore helps HME providers use clinical programs, data, and analytics to grow the equipment business and create ways to leverage outcomes to partner with physicians, hospitals systems, and payers.
