ResMed sees 12% increase in revenue

Friday, October 26, 2018

SAN DIEGO – ResMed reported revenue of $588.3 million for the first quarter of fiscal year 2019, a 12% increase over the same period in 2018. It reported a net income of $105.7 million vs. $86.1 million, a 23% increase. “Our first quarter 2019 results demonstrate continued strong performance across our business with 13% top-line revenue growth, driven by growth across our entire portfolio of offerings,” said CEO Mick Farrell. “We also delivered another quarter of improving operating leverage, resulting in double-digit growth at the bottom line.” Developments in the first quarter included: an expanded product portfolio, including new masks; upgraded digital health solutions; and a joint venture with Verily. ResMed, which owns Brightree, reported Software as a Service revenue increased 25% in the first quarter of fiscal year 2019 compared to the same period in 2018 due to continued growth in the software company’s service offerings and incremental contribution from its acquisition of HEALTHCAREfirst, which closed early in the first quarter.