ResMed sales up on demand for sleep apnoea devices

Sleep apnoea device manufacturer ResMed has reported that revenue grew by 11 percent on a constant currency basis in the first quarter FY25 to US$1.2 billion, driven by demand for its constant air pressure systems.

Revenue grew from its sleep devices and masks portfolio, as well as strong growth across its Residential Care Software business.

Revenue in the U.S., Canada, and Latin America, excluding Residential Care Software, grew by 11 percent, while revenue in Europe, Asia, and other markets grew by 10 percent on a constant currency basis.

Residential Care Software revenue increased by 12 percent on a constant currency basis, reflecting continued organic growth.

Chairman and CEO Mick Farrell said: “Our first-quarter fiscal year 2025 results reflect ongoing momentum and strong execution across all areas of our business.

“We delivered 11 percent year-over-year revenue growth, and our focus on operational excellence resulted in another quarter of year-over-year margin expansion and a 34 percent increase in operating profit.”

Net income for the quarter was US$311 million, while the company spent US$79.5 million on R&D.

The company, which is celebrating 35 years of operation, has launched a 2030 strategy aimed at improving sleep health, breathing health, and healthcare technology at home.

“By building on our leadership in connected digital health, we are driving better care, simplifying the health journey, and improving access to our therapies globally so even more people worldwide are empowered to live healthier, higher-quality lives using products and services they love.”

Picture: Mick Farrell