ResMed reported a strong first quarter of calendar year 2026 (Q1 FY2026) with revenue of USD 1,335.6 million, up 9.07% year over year and a slight QoQ decline of 0.92%. The company posted a gross profit of USD 820.8 million and a gross margin of 61.46%, delivering an operating income of USD 446.5 million and an operating margin of 33.43%. Net income reached USD 348.5 million for the quarter, translating to a net margin of 26.10%. EBITDA stood at USD 446.5 million, yielding an EBITDA margin of 33.43%. The quarter showcased resilient profitability alongside a robust liquidity position, as the company maintained USD 1.384 billion in cash and equivalents and reported a net debt position of negative USD 537.5 million (i.e., net cash). Free cash flow amounted to USD 414.4 million, underscoring strong cash generation even after USD 150.0 million of share repurchases and USD 87.8 million in dividends in the period.
Key Performance Indicators
Revenue
Increasing
1.34B
QoQ: -0.92% | YoY: 9.07%
Gross Profit
Increasing
820.82M
61.46% margin
QoQ: 0.09% | YoY: 14.44%
Operating Income
Increasing
446.54M
QoQ: -1.76% | YoY: 15.29%
Net Income
Increasing
348.54M
QoQ: -8.21% | YoY: 11.94%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: USD 1.3356B (YoY +9.07%, QoQ -0.92%); Gross Profit: USD 820.8M (YoY +14.44%, QoQ +0.09%); Operating Income: USD 446.5M (YoY +15.29%, QoQ -1.76%); Net Income: USD 348.5M (YoY +11.94%, QoQ -8.21%); EBITDA: USD 446.5M (margin 33.43%); Gross Margin: 61.46%; Net Margin: 26.10%; Operating Margin: 33.43%; Cash from Operations: USD 457.3M; Free Cash Flow: USD 414.4M; Cash at period end: USD 1.383B; Total Debt: USD 846.4M; Net Debt: USD -537.5M; Dividend (paid): USD 87.8M; Share Repurchase: USD -150.0M; ROCE approximations not provided in data; R&D as % of revenue ~6.5%; SG&A as % of revenue ~19.4%
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
1.34B
9.07%
-0.92%
Gross Profit
820.82M
14.44%
0.09%
Operating Income
446.54M
15.29%
-1.76%
Net Income
348.54M
11.94%
-8.21%
Key Financial Ratios
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