ResMed: ‘Our third-quarter results reflect strong performance’
By HME News Staff
Updated 8:25 PM CDT, Thu April 28, 2022
SAN DIEGO – ResMed reported revenue increased 12% to $864.5 million in its third quarter fiscal year 2022.
The company reported revenue, excluding software-as-a-service, increased 18% in the United States, Canada and Latin America, primarily due to a recall by one of its competitors and a recovery of core sleep patient flow that has been impacted by the COVID-19 pandemic.
“Our third-quarter results reflect strong performance across our business, resulting in double-digit top-line revenue growth, including extraordinary demand in our sleep and respiratory care business segment, as well as solid high-single-digit growth in our software-as-a-service segment,” said Mick Farrell, ResMed CEO. “I am proud of our global team’s ability to pivot and drive continued growth while ongoing supply chain disruptions and a competitor’s recall continue to limit our ability to meet the incredible demand for our products. We remain focused on delivering products, software and services for patients, working closely with our supply chain partners, as well as physicians, providers and beyond, to prioritize care for patients who most need it.”
ResMed reported revenue for SaaS increased 8%, primarily due to continued growth in its DME category and stabilizing patient flow in out-of-hospital care settings.
The company reported a net income of $179 million in the third quarter of fiscal year 2022 compared to a net loss of $78.5 million.
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