Form 8-K
8-K — RESMED INC
Accession: 0001193125-26-337962
Filed: 2026-08-06
Period: 2026-08-06
CIK: 0000943819
SIC: 3841 (SURGICAL & MEDICAL INSTRUMENTS & APPARATUS)
Item: Results of Operations and Financial Condition
Item: Other Events
Item: Financial Statements and Exhibits
Documents
8-K — d158732d8k.htm (Primary)
EX-99.1 (d158732dex991.htm)
GRAPHIC (g158732dsp4a.jpg)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K
8-K (Primary)
Filename: d158732d8k.htm · Sequence: 1
8-K
RESMED INC US false 0000943819 0000943819 2026-08-06 2026-08-06
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Under Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 6, 2026
ResMed Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware
001-15317
98-0152841
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
9001 Spectrum Center Blvd.
San Diego, California 92123
(Address of Principal Executive Offices)
(858) 836-5000
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Common Stock, $0.004 par value
RMD
NYSE
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02.
Results of Operations and Financial Condition.
On August 6, 2026, we issued the press release furnished as Exhibit 99.1. The press release describes the results of our operations for the quarter and fiscal year ended June 30, 2026.
The information furnished in this Current Report on Form 8-K under Item 2.02 and the attached exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 8.01.
Other Events.
On August 6, 2026, we announced that our board of directors declared a quarterly cash dividend of US $0.66 per share, representing an increase of 10% over the previous quarterly dividend. The dividend will have a record date of August 20, 2026, payable on September 24, 2026. The dividend will be paid in U.S. currency to holders of Resmed’s common stock trading on the New York Stock Exchange. Holders of CHESS Depositary Interests (“CDIs”) trading on the Australian Securities Exchange will receive an equivalent amount in Australian currency, based on the exchange rate on the record date, and reflecting the 10:1 ratio between CDIs and NYSE shares. The ex-dividend date will be August 19, 2026, for common stockholders and for CDI holders. Resmed has received a waiver from the ASX’s settlement operating rules, which will allow Resmed to defer processing conversions between its common stock and CDI registers from August 19, 2026, through August 20, 2026, inclusive.
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits
Exhibits:
Description of Document
99.1
Press Release dated August 6, 2026, regarding results of operations
104
Cover Page Interactive Data File (embedded within the Inline XBRL, document)
SIGNATURES
We have authorized the person whose signature appears below to sign this report on our behalf, in accordance with the Securities Exchange Act of 1934.
Date: August 6, 2026
ResMed Inc.
(registrant)
By:
/s/ Aaron Bloomer
Name:
Aaron Bloomer
Its:
Chief Financial Officer
EX-99.1
EX-99.1
Filename: d158732dex991.htm · Sequence: 2
EX-99.1
Exhibit 99.1
For investors
For media
+1 858-221-3304
+1 619-510-1281
investorrelations@resmed.com
news@resmed.com
Resmed Inc. Announces Results for the Fourth Quarter of Fiscal Year 2026
•
Q4 revenue increased by 9% to a record $1.5 billion; up 8% on a constant currency
basis
•
Q4 GAAP diluted earnings per share up 2% to
$2.64; non-GAAP diluted earnings per share up 16% to $2.95
•
Returned $1.0 billion to shareholders through share repurchases and dividends during FY2026, an increase of
more than 70%
Note: A webcast of Resmed’s conference call will be available at 4:30 p.m. ET today
at http://investor.resmed.com
SAN DIEGO, August 6, 2026 – Resmed Inc. (NYSE: RMD, ASX: RMD) today announced results for its
quarter ended June 30, 2026.
“We closed fiscal year 2026 with strong fourth quarter results, reflecting continued momentum of our global
business, sustained demand for our market-leading products, and disciplined execution of our strategy,” said Resmed’s Chairman and CEO, Mick Farrell.
“Year-over-year, we delivered 9% reported revenue growth, 90 basis points of gross margin expansion, and a 16% increase in earnings per share. For full
year 2026, our $1.6 billion in free cash flow enabled us to invest in innovation, strengthen our market leadership, and return more than $1 billion to our shareholders.”
“As we enter fiscal year 2027, we will leverage our global scale and enhance our digital capabilities to benefit our patients, providers, and customers.
We will use our industry-leading portfolio to improve patient outcomes, reduce healthcare costs, and drive long-term profitable growth for our shareholders.”
Financial Highlights
•
FY 2026 revenue increased by 10% to $5.7 billion; up 8% on a constant currency basis
•
FY 2026 GAAP gross margin up 170 bps to 61.1%; non-GAAP gross margin up
240 bps to 62.4%
•
FY 2026 GAAP operating margin up 70 bps to 33.4%, non-GAAP operating
margin up 180 bps to 36.1%
•
FY 2026 GAAP diluted earnings per share of $10.43; non-GAAP diluted
earnings per share of $11.17, an increase of 17%
•
FY 2026 operating cash flow of $1.8 billion; free cash flow of $1.6 billion
•
Guiding to more than $1.85 billion in capital to be returned to shareholders through share repurchases and
dividends during FY 2027; announced quarterly dividend increase of 10% to $0.66 per quarter
Other Business and Operational
Highlights
•
Announced agreement to sell MatrixCare business; transaction expected to close during the first quarter of
Resmed’s fiscal year 2027.
•
Completed acquisition of Noctrix Health, a medical device company selling FDA De Novo classified wearable
therapeutics for Restless Leg Syndrome, or RLS.
•
Partnered with ŌURA to expand access to sleep health education and pathways to care, helping more people
sleep better and improve their overall health.
•
Following other successful launches in APAC, EMEA and the Americas, launched AirSense 11 in Taiwan. Additionally,
launched AirCurve 11 ST/ST-A in the U.S. and AirTouch F30i Comfort in Brazil and Chile.
RMD Fourth Quarter 2026 Earnings Press Release – August 6, 2026
Page
2
of 10
Financial Results and Operating Metrics
Unaudited; $ in millions, except for per share amounts
Three Months Ended
June 30,
2026
June 30,
2025
% Change
Constant
Currency (A)
Revenue
$
1,464
$
1,348
9
%
8
%
Gross margin
58.8
%
60.8
%
(200) bps
Non-GAAP gross margin (B)
62.3
%
61.4
%
90 bps
Research and development expenses
106
86
22
19
Selling, general, and administrative expenses
296
267
11
8
Non-GAAP selling, general, and administrative expenses(B)
291
265
10
7
Income from operations
449
455
(1)
Operating margin
30.7
%
33.7
%
(300) bps
Non-GAAP income from operations (B)
515
476
8
Non-GAAP operating margin
35.2
%
35.3
%
(10) bps
Net income
383
380
1
Non-GAAP net income (B)
428
375
14
Diluted earnings per share
$
2.64
$
2.58
2
Non-GAAP diluted earnings per share (B)
$
2.95
$
2.55
16
Operating cash flow
455
539
(16)
Free cash flow(C)
404
508
(21)
Twelve Months Ended
June 30,
2026
June 30,
2025
% Change
Constant
Currency (A)
Revenue
$
5,653
$
5,146
10
%
8
%
Gross margin
61.1
%
59.4
%
170 bps
Non-GAAP gross margin (B)
62.4
%
60.0
%
240 bps
Research and development expenses
378
331
14
12
Selling, general, and administrative expenses
1,120
993
13
10
Non-GAAP selling, general, and administrative expenses(B)
1,108
991
12
9
Income from operations
1,887
1,685
12
Operating margin
33.4
%
32.7
%
70 bps
Non-GAAP income from operations (B)
2,039
1,763
16
Non-GAAP operating margin
36.1
%
34.3
%
180 bps
Net income
1,523
1,401
9
Non-GAAP net income (B)
1,632
1,407
16
Diluted earnings per share
$
10.43
$
9.51
10
Non-GAAP diluted earnings per share (B)
$
11.17
$
9.55
17
Operating cash flow
1,806
1,752
3
Free cash flow(C)
1,650
1,662
(1
)
(A)
In order to provide a framework for assessing how our underlying businesses performed, excluding the effect of
foreign currency fluctuations, we provide certain financial information on a “constant currency” basis, which is in addition to the actual financial information presented. In order to calculate our constant currency information, we
translate the current period financial information using the foreign currency exchange rates that were in effect during the previous comparable period. However, constant currency measures should not be considered in isolation or as an alternative to
U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP.
(B)
See the reconciliation of non-GAAP financial measures in the table at
the end of the press release.
(C)
Free cash flow is equal to operating cash flow less purchases of property, plant and equipment.
RMD Fourth Quarter 2026 Earnings Press Release – August 6, 2026
Page
3
of 10
Discussion of Fourth Quarter Results
All comparisons are to the prior year period unless otherwise noted
•
Strong revenue growth: Revenue increased 9% (8% in constant currency) to approximately $1.5 billion, driven
by strong demand across sleep devices, masks, accessories, and software solutions.
•
Global momentum: Americas Sleep and Breathing Health revenue grew 8%, Rest of World Sleep and Breathing Health
grew 10% in constant currency, and Residential Care Software revenue increased 2% in constant currency.
•
Healthy profitability: GAAP gross margin of 58.8%. Non-GAAP gross
margin increased 90 basis points to 62.3%, predominantly from productivity pipeline execution. The primary difference is our $42 million Astral field safety notification expenses.
•
Robust earnings growth: GAAP income from operations of $449 million and GAAP diluted earnings per share of
$2.64. Non-GAAP income from operations increased 8% and non-GAAP diluted earnings per share grew 16% to $2.95, predominantly attributable to strong sales
growth and gross margin improvement.
•
Strong cash generation: Operating cash flow totaled $455 million and free cash flow totaled
$404 million, supporting $287 million returned to shareholders through dividends and share repurchases while maintaining investment in innovation and growth initiatives.
Dividend program
The Resmed board of directors
today declared a quarterly cash dividend of $0.66 per share, representing an increase of 10% over our previous quarterly dividend. The dividend will have a record date of August 20, 2026, payable on September 24, 2026. The dividend will be
paid in U.S. currency to holders of Resmed’s common stock trading on the New York Stock Exchange. Holders of CHESS Depositary Interests (“CDIs”) trading on the Australian Securities Exchange will receive an equivalent amount in
Australian currency, based on the exchange rate on the record date, and reflecting the 10:1 ratio between CDIs and NYSE shares. The ex-dividend date will be August 19, 2026, for common
stockholders and for CDI holders. Resmed has received a waiver from the ASX’s settlement operating rules, which will allow Resmed to defer processing conversions between its common stock and CDI registers from August 19, 2026, through
August 20, 2026, inclusive.
Webcast details
Resmed will discuss its fourth quarter fiscal year 2026 results on its webcast at 1:30 p.m. U.S. Pacific Time today. The live webcast of the call can be
accessed on Resmed’s Investor Relations website at investor.resmed.com. Please go to this section of the website and click on the icon for the “Q4 2026 Earnings Webcast” to register and listen to the live webcast. A replay
of the earnings webcast will be accessible on the website and available approximately two hours after the live webcast. In addition, a telephone replay of the conference call will be available approximately three hours after the webcast by dialing +1 877-660-6853 (U.S.) or +1 201-612-7415 (outside U.S.) and entering the
passcode 13761408. The telephone replay will be available until August 20, 2026.
About Resmed
Resmed (NYSE: RMD, ASX: RMD) creates life-changing health technologies that people love. We’re relentlessly committed to pioneering innovative technology
to empower millions of people in 140 countries to live happier, healthier lives. Our AI-powered digital health solutions, cloud-connected devices and intelligent software make home healthcare more
personalized, accessible and effective. Ultimately, Resmed envisions a world where every person can achieve their full potential through better sleep and breathing, with care delivered in their own home. Learn more about how we’re redefining
sleep health at Resmed.com and follow @Resmed.
RMD Fourth Quarter 2026 Earnings Press Release – August 6, 2026
Page
4
of 10
Safe harbor statement
Statements contained in this release that are not historical facts are “forward-looking” statements as contemplated by the Private Securities
Litigation Reform Act of 1995. These forward-looking statements – including statements regarding Resmed’s projections of future revenue or earnings, expenses, new product development, new product launches, new markets for its products,
the integration of acquisitions, our supply chain, domestic and international regulatory developments, litigation, tax outlook, and the expected impact of macroeconomic conditions of our business – are subject to risks and uncertainties, which
could cause actual results to materially differ from those projected or implied in the forward-looking statements. Additional risks and uncertainties are discussed in Resmed’s periodic reports on file with the U.S. Securities &
Exchange Commission. Resmed does not undertake to update its forward-looking statements.
– More –
RMD Fourth Quarter 2026 Earnings Press Release – August 6, 2026
Page
5
of 10
RESMED INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(Unaudited; $ in thousands, except for per share amounts)
Three Months Ended
Twelve Months Ended
June 30,
2026
June 30,
2025
June 30,
2026
June 30,
2025
Net revenue
$
1,463,647
$
1,347,993
$
5,653,443
$
5,146,327
Cost of sales
552,245
520,068
2,128,040
2,060,753
Amortization of acquired
intangibles (1)
8,301
9,367
31,779
32,116
Masks with magnets field safety notification expenses (1)
—
(1,512
)
—
(1,512
)
Astral field safety notification expenses
(1)
41,885
—
41,885
—
Total cost of sales
$
602,431
$
527,923
$
2,201,704
$
2,091,357
Gross profit
$
861,216
$
820,070
$
3,451,739
$
3,054,970
Research and development
105,726
86,443
378,285
331,284
Selling, general, and administrative
290,655
265,125
1,108,042
991,019
Acquisition and portfolio review related expenses
(1)
5,628
2,031
11,486
2,031
Total selling, general, and administrative
296,283
267,156
1,119,528
993,050
Amortization of acquired
intangibles (1)
10,499
11,928
45,466
45,273
Restructuring
expenses (1)
—
—
21,745
—
Total operating expenses
$
412,508
$
365,527
$
1,565,024
$
1,369,607
Income from operations
$
448,708
$
454,543
$
1,886,715
$
1,685,363
Other income (expenses), net:
Interest (expense) income, net
$
20,885
$
5,757
$
49,914
$
4,114
Gain (loss) attributable to equity method investments
2,232
1,269
6,955
3,644
Gain (loss) on equity investments
1,001
(2,533
)
(15,014
)
(10,299
)
Other, net
1,338
(983
)
(9,154
)
(5,256
)
Total other income (expenses), net
25,456
3,510
32,701
(7,797
)
Income before income taxes
$
474,164
$
458,053
$
1,919,416
$
1,677,566
Income taxes
90,732
78,348
396,123
276,843
Net income
$
383,432
$
379,705
$
1,523,293
$
1,400,723
Basic earnings per share
$
2.65
$
2.59
$
10.47
$
9.55
Diluted earnings per share
$
2.64
$
2.58
$
10.43
$
9.51
Non-GAAP diluted earnings per share (1)
$
2.95
$
2.55
$
11.17
$
9.55
Basic shares outstanding
144,706
146,472
145,523
146,716
Diluted shares outstanding
144,976
147,037
146,054
147,340
(1)
See the reconciliation of non-GAAP financial measures in the
table at the end of the press release.
– More –
RMD Fourth Quarter 2026 Earnings Press Release – August 6, 2026
Page
6
of 10
RESMED INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(Unaudited; $ in thousands)
June 30,
2026
June 30,
2025
Assets
Current assets:
Cash and cash equivalents
$
1,469,234
$
1,209,450
Accounts receivable, net
1,036,233
939,492
Inventories
945,805
927,711
Prepayments and other current assets
416,081
428,952
Assets held for sale
$
457,386
$
—
Total current assets
$
4,324,739
$
3,505,605
Non-current assets:
Property, plant, and equipment, net
$
581,829
$
550,790
Operating
lease right-of-use assets
153,167
167,497
Goodwill and other intangibles, net
3,362,312
3,511,541
Deferred income taxes and
other non-current assets
543,903
438,958
Total non-current assets
$
4,641,211
$
4,668,786
Total assets
$
8,965,950
$
8,174,391
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable
$
308,923
$
278,157
Accrued expenses
494,921
402,253
Operating lease liabilities, current
29,141
30,506
Deferred revenue
162,911
166,030
Income taxes payable
98,108
132,274
Short-term debt
259,950
9,900
Liabilities held for sale
$
41,156
$
—
Total current liabilities
$
1,395,110
$
1,019,120
Non-current liabilities:
Deferred revenue
$
170,951
$
156,803
Deferred income taxes
64,640
77,682
Operating lease liabilities, non-current
137,413
153,015
Other long-term liabilities
213,028
141,520
Long-term debt
399,415
658,392
Total non-current liabilities
$
985,447
$
1,187,412
Total liabilities
$
2,380,557
$
2,206,532
Stockholders’ equity
Common stock
$
764
$
761
Additional paid-in capital
2,190,614
2,033,599
Retained earnings
7,255,121
6,081,490
Treasury stock
(2,778,591
)
(2,073,292
)
Accumulated other comprehensive income
(82,515
)
(74,699
)
Total stockholders’ equity
$
6,585,393
$
5,967,859
Total liabilities and stockholders’ equity
$
8,965,950
$
8,174,391
– More –
RMD Fourth Quarter 2026 Earnings Press Release – August 6, 2026
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of 10
RESMED INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(Unaudited; $ in thousands)
Three Months Ended
Twelve Months Ended
June 30,
2026
June 30,
2025
June 30,
2026
June 30,
2025
Cash flows from operating activities:
Net income
$
383,432
$
379,705
$
1,523,293
$
1,400,723
Adjustment to reconcile net income to cash provided by operating activities:
Depreciation and amortization
44,778
63,628
201,342
198,473
Amortization
of right-of-use assets
10,343
10,660
42,810
37,338
Stock-based compensation costs
27,458
24,751
104,348
91,661
(Gain) loss attributable to equity method investments, net of dividends received
2,340
(1,269
)
(2,382
)
(3,644
)
(Gain) loss on equity investments
(1,000
)
2,533
15,014
10,299
Gain on previously held equity investment
(4,353
)
—
(4,353
)
—
Changes in operating assets and liabilities:
Accounts receivable, net
(37,209
)
(5,215
)
(96,778
)
(76,684
)
Inventories, net
(33,866
)
(32,133
)
(9,920
)
(80,165
)
Prepaid expenses, net deferred income taxes and other current assets
12,150
47,017
(140,260
)
82,629
Accounts payable, accrued expenses, income taxes payable and other
50,558
49,089
172,715
90,958
Net cash provided by (used in) operating activities
$
454,631
$
538,766
$
1,805,829
$
1,751,588
Cash flows from investing activities:
Purchases of property, plant, and equipment
(51,127
)
(30,585
)
(156,285
)
(89,865
)
Patent registration and acquisition costs
(5,384
)
(3,193
)
(18,670
)
(10,777
)
Purchases of intangible assets
(739
)
—
(2,218
)
—
Business acquisitions, net of cash acquired
(325,319
)
(138,578
)
(350,724
)
(139,248
)
Purchases of investments
(2,000
)
(2,013
)
(28,536
)
(6,416
)
Proceeds from exits of investments
—
250
2,752
4,628
Proceeds (payments) on maturity of foreign currency contracts
918
40,406
8,482
41,633
Net cash provided by (used in) investing activities
$
(383,651
)
$
(133,713
)
$
(545,199
)
$
(200,045
)
Cash flows from financing activities:
Proceeds from issuance of common stock, net
29,314
30,156
74,503
74,439
Purchases of treasury stock
(200,000
)
(100,008
)
(700,037
)
(300,025
)
Acquisition of consolidated subsidiary
—
(10,855
)
—
(10,855
)
Taxes paid related to net share settlement of equity awards
(388
)
(590
)
(21,833
)
(18,077
)
Payments of business combination contingent consideration
—
—
—
(855
)
Repayment of borrowings
(5,000
)
(5,000
)
(10,000
)
(40,000
)
Dividends paid
(87,090
)
(77,590
)
(349,662
)
(310,880
)
Net cash provided by (used in) financing activities
$
(263,164
)
$
(163,887
)
$
(1,007,029
)
$
(606,253
)
Effect of exchange rate changes on cash
$
905
$
35,573
$
6,183
$
25,799
Net increase (decrease) in cash and cash equivalents
(191,279
)
276,739
259,784
971,089
Cash and cash equivalents at beginning of period
1,660,513
932,711
1,209,450
238,361
Cash and cash equivalents at end of period
$
1,469,234
$
1,209,450
$
1,469,234
$
1,209,450
– More –
RMD Fourth Quarter 2026 Earnings Press Release – August 6, 2026
Page
8
of 10
RESMED INC. AND SUBSIDIARIES
Reconciliation of Non-GAAP Financial Measures
(Unaudited; $ in thousands, except for per share amounts)
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:
Three Months Ended
Twelve Months Ended
June 30, 2026
June 30, 2025
June 30, 2026
June 30, 2025
Revenue
$
1,463,647
$
1,347,993
$
5,653,443
$
5,146,327
GAAP cost of sales
$
602,431
$
527,923
$
2,201,704
$
2,091,357
Less: Amortization of acquired intangibles (A)
(8,301
)
(9,367
)
(31,779
)
(32,116
)
Less: Masks with magnets field safety notification expenses (A)
—
1,512
—
1,512
Less: Astral field safety notification expenses (A)
(41,885
)
—
(41,885
)
—
Non-GAAP cost of sales
$
552,245
$
520,068
$
2,128,040
$
2,060,753
GAAP gross profit
$
861,216
$
820,070
$
3,451,739
$
3,054,970
GAAP gross margin
58.8
%
60.8
%
61.1
%
59.4
%
Non-GAAP gross profit
$
911,402
$
827,925
$
3,525,403
$
3,085,574
Non-GAAP gross margin
62.3
%
61.4
%
62.4
%
60.0
%
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:
Three Months Ended
Twelve Months Ended
June 30, 2026
June 30, 2025
June 30, 2026
June 30, 2025
Revenue
$
1,463,647
$
1,347,993
$
5,653,443
$
5,146,327
GAAP selling, general, and administrative
296,283
267,156
1,119,528
993,050
Less: Acquisition and portfolio review related expenses (A)
(5,628
)
(2,031
)
(11,486
)
(2,031
)
Non-GAAP selling, general, and administrative
290,655
265,125
1,108,042
991,019
As a percentage of revenue:
GAAP selling, general, and administrative expenses
20.2
%
19.8
%
19.8
%
19.3
%
Non-GAAP selling, general, and administrative
expenses
19.9
%
19.7
%
19.6
%
19.3
%
– More –
RMD Fourth Quarter 2026 Earnings Press Release – August 6, 2026
Page
9
of 10
RESMED INC. AND SUBSIDIARIES
Reconciliation of Non-GAAP Financial Measures
(Unaudited; $ in thousands, except for per share amounts)
The measure “non-GAAP income from operations” is reconciled with GAAP income from operations
below:
Three Months Ended
Twelve Months Ended
June 30, 2026
June 30, 2025
June 30, 2026
June 30, 2025
GAAP income from operations
$
448,708
$
454,543
$
1,886,715
$
1,685,363
Amortization of acquired intangibles—cost of sales (A)
8,301
9,367
31,779
32,116
Amortization of acquired intangibles—operating expenses (A)
10,499
11,928
45,466
45,273
Restructuring (A)
—
—
21,745
—
Masks with magnets field safety notification expenses (A)
—
(1,512
)
—
(1,512
)
Astral field safety notification expenses
(A)
41,885
—
41,885
—
Acquisition and portfolio review related expenses
(A)
5,628
2,031
11,486
2,031
Non-GAAP income from operations
$
515,021
$
476,357
$
2,039,076
$
1,763,271
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:
Three Months Ended
Twelve Months Ended
June 30, 2026
June 30, 2025
June 30, 2026
June 30, 2025
GAAP net income
$
383,432
$
379,705
$
1,523,293
$
1,400,723
Amortization of acquired intangibles—cost of sales (A)
8,301
9,367
31,779
32,116
Amortization of acquired intangibles—operating expenses (A)
10,499
11,928
45,466
45,273
Restructuring
expenses (A)
—
—
21,745
—
Gain on previously held equity
investment(A)
(4,353
)
—
(4,353
)
—
Masks with magnets field safety notification expenses (A)
—
(1,512
)
—
(1,512
)
Astral field safety notification expenses
(A)
41,885
—
41,885
—
Acquisition and portfolio review related
expenses (A)
5,628
2,031
11,486
2,031
Tax benefit from business
cessation(A)
—
(21,430
)
—
(21,430
)
Income tax effect of interest and penalties on income tax refunds (A)
—
—
—
(29,976
)
Income tax effect on non-GAAP adjustments (A)
(17,059
)
(5,544
)
(39,453
)
(20,448
)
Non-GAAP net income (A)
$
428,333
$
374,545
$
1,631,848
$
1,406,777
GAAP diluted shares outstanding
144,976
147,037
146,054
147,340
GAAP diluted earnings per share
$
2.64
$
2.58
$
10.43
$
9.51
Non-GAAP diluted earnings per share (A)
$
2.95
$
2.55
$
11.17
$
9.55
(A)
Resmed adjusts for the impact of the amortization of acquired intangibles, restructuring expenses, gains on
previously held equity investments, field safety notification expenses, acquisition and portfolio review related expenses and associated tax effects, in addition to tax benefits from business cessation, and the tax effect of interest and penalties
on tax refunds from their evaluation of ongoing operations, and believes that investors benefit from adjusting these items to facilitate a more meaningful evaluation of current operating performance.
Resmed believes that non-GAAP diluted earnings per share is an additional measure of
performance that investors can use to compare operating results between reporting periods. Resmed uses non-GAAP information internally in planning, forecasting, and evaluating the results of
operations in the current period and in comparing it to past periods. Resmed believes this information provides investors better insight when evaluating Resmed’s performance from core operations and provides consistent financial reporting. The
use of non-GAAP measures is intended to supplement, and not to replace, the presentation of net income and other GAAP measures. Like
all non-GAAP measures, non-GAAP earnings are subject to inherent limitations because they do not include all the expenses that must be included under
GAAP.
– More –
RMD Fourth Quarter 2026 Earnings Press Release – August 6, 2026
Page
10
of 10
RESMED INC. AND SUBSIDIARIES
Revenue by Product and Region
(Unaudited; $ in millions, except for per share amounts)
Three Months Ended
June 30,
2026
(A)
June 30,
2025
(A)
% Change
Constant
Currency (B)
Americas (C)
Devices
$
459
$
433
6
%
Masks and other
394
359
10
Total Americas (C)
$
853
$
792
8
Rest of World (C)
Devices
$
291
$
261
12
%
9
%
Masks and other
148
128
16
12
Total Rest of World (C)
$
439
$
389
13
10
Global revenue
Total Devices
$
750
$
694
8
%
7
%
Total Masks and other
542
487
11
10
Total Sleep and Breathing Health
$
1,292
$
1,181
9
8
Residential Care Software
172
167
3
2
Total
$
1,464
$
1,348
9
8
Twelve Months Ended
June 30,
2026
(A)
June 30,
2025
(A)
%
Change
Constant
Currency (B)
Americas (C)
Devices
$
1,768
$
1,654
7
%
Masks and other
1,513
1,343
13
Total Americas (C)
$
3,281
$
2,998
9
Rest of World (C)
Devices
$
1,124
$
1,011
11
%
6
%
Masks and other
572
497
15
9
Total Rest of World (C)
$
1,697
$
1,507
13
7
Global revenue
Total Devices
$
2,892
$
2,665
9
%
7
%
Total Masks and other
2,085
1,840
13
12
Total Sleep and Breathing Health
$
4,978
$
4,505
10
9
Residential Care Software
676
641
5
4
Total
$
5,653
$
5,146
10
8
(A)
Totals and subtotals may not add due to rounding.
(B)
In order to provide a framework for assessing how our underlying businesses performed excluding the effect of
foreign currency fluctuations, we provide certain financial information on a “constant currency basis,” which is in addition to the actual financial information presented. In order to calculate our constant currency information, we
translate the current period financial information using the foreign currency exchange rates that were in effect during the previous comparable period. However, constant currency measures should not be considered in isolation or as an alternative to
U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP.
(C)
Historically we have presented our geographical split of revenue as “U.S., Canada, and Latin
America” and “Combined Europe, Asia, and other markets”. Effective this quarter, this presentation has been renamed to Americas (formerly U.S., Canada, and Latin America) and Rest of World (formerly Combined Europe, Asia, and other
markets). The methodology for attributing revenue to these geographies remains unchanged. Revenue from prior periods is consistent and comparable to previous reporting.
– End –
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