SAN DIEGO – First Quarter 2022 results (for its quarter ended September 30, 2021) at ResMed Inc. (pictured here at Medtrade East 2021) reflected a 20% revenue increase to $904.0 million; up 19% on a constant currency basis.
Additional results include:
• gross margin of 56.0%; non-GAAP gross margin contracted 270 bps to 57.2%;
• income from operations increased 21%; non-GAAP operating profit up 18%; and
• diluted earnings per share of $1.39; non-GAAP diluted earnings per share of $1.51.
“Our first-quarter results demonstrate strong performance across our business with double-digit growth in both top-line and bottom-line metrics, driven by ongoing high demand for our sleep and respiratory care products, and steady growth across our software-as-a-service business,” said Mick Farrell, ResMed CEO. “It is through the extraordinary efforts of our global ResMed team that we were able to deliver products and solutions to our customers amid unprecedented supply chain challenges that continue to restrict access to critical electronic components. As we navigate supply limitations and are forced to allocate products, we continue to ensure priority for highest-acuity and highest-need patients first, as well as working with physicians, providers, and community systems to maintain a sustainable flow of medical devices and digital health solutions to patients who need care.”