EarningsQ1 2027 Earnings Report
MX:RMD Q1 2027 EPS Results
Actual EPS$54.67
Consensus EPS$50.46
Beat/MissBeat by +$4.21
One Year Ago EPS$47.91
MX:RMD Q1 2027 Revenue Results
Actual Revenue$26.58B
Expected Revenue$26.19B
Beat/MissBeat by +$385.58M
YoY Revenue Growth+5.93%
Earnings Announcement Details
QuarterQ1 2027
Date10/29/2026
TimeAfter Close
Conference CallThursday, October 29, 2026
MX:RMD Upcoming Earnings
Resmed's next earnings date is estimated for January 28, 2027, based on past reporting schedules.
Q1 2027 Earnings Call Audio
MX:RMD Q1 2027 Earnings Call
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Q1 2027 Earnings Slide Deck
Q1 2027 Earnings Call Summary
Earnings Call Sentiment|Positive
The call had a strongly positive tone, supported by 7% core constant currency revenue growth, 14% EPS growth, gross margin expansion, record shareholder returns, product and digital health traction, and reiterated full-year guidance. The company also reported meaningful challenges, including the Astral discontinuation, sharp life support device revenue declines, inflation, lower free cash flow, transaction-related charges, and expected second-half and near-term cost pressures. Overall, the highlights significantly outweighed the lowlights.Company Guidance
Strong Q1 Fiscal 2027 Financial Performance
Total revenue was $1.4 billion, increasing 6% on a reported basis and 7% on a core constant currency basis. Non-GAAP gross margin increased 50 basis points year-over-year to 62.5%, while non-GAAP diluted earnings per share increased 14% to $2.91.
Record Capital Returns to Shareholders
ResMed returned more than $1 billion to shareholders during Q1 through dividends and share repurchases, including approximately $936 million of stock repurchases. This represented a more than fourfold increase over Q1 fiscal 2026 and was a record for ResMed.
Positive Sleep Device and Mask Demand
In the Americas, sleep device revenue increased 6% and masks and other revenue increased 10%. In the Rest of World, sleep device revenue increased 13% and masks and other revenue increased 11%. Rest of World sleep device growth was supported in part by a fleet refresh in France.
Fabric Mask Adoption and Adherence Gains
ResMed launched the AirTouch F40 fabric full-face mask, which received a comfortable or very comfortable rating from 91% of patients at initial fitting in a ResMed study. On recently launched fabric masks, ResMed has shown a 6% increase in therapy adherence versus equivalent silicone masks.
AirCurve 11 Advanced Bilevel Platform Expansion
The AirCurve 11 ST and ST-A platforms were launched in the U.S. for patients requiring more pressure support or treatment for complicated breathing disorders, including central sleep apnea, complex sleep apnea, and COPD plus obstructive sleep apnea. The platforms extend the shared Air11 technology and digital health ecosystem across a broader range of patients.
Growth of the myAir and Digital Health Ecosystem
The myAir patient app has exceeded 13 million downloads following a refresh that added an updated score, nightly therapy timeline, comfort-setting controls, and Equipment Care resupply functionality. Together with AirView, myAir has been shown to improve therapy compliance from 70% to 87%.
Generative AI Sleep Coach Engagement
The Dawn generative AI-powered digital sleep coach recorded more than 2.1 million patient inquiries, up more than 40% from the prior quarter. ResMed stated that Dawn provides patient support while reducing customer service inquiries to ResMed, HME partners, and channel partners.
Smart Comfort Demonstrates Compliance Improvement
Early real-world data for the FDA-cleared Smart Comfort AI-enabled digital medical device showed a 4.3% increase in 30-day compliance versus device default settings. Smart Comfort was also selected as a special mention in Time Magazine's Best Inventions of 2026.
Supply Chain Productivity and Margin Improvement
Productivity gains across procurement, manufacturing, and distribution, together with favorable product mix, more than offset foreign exchange headwinds and supported the 50-basis-point gross margin expansion. ResMed said its supply chain productivity pipeline remains robust and multiyear, supporting confidence in double-digit basis-point gross margin improvements every fiscal year through 2030.
Expansion of U.S. and Global Manufacturing Footprint
ResMed produced its first Made in America CPAP device, with AirSense 11 coming off the line at its Atlanta, Georgia facility. The company is also progressing its Indianapolis distribution center, expanding manufacturing capabilities in Singapore and Malaysia, and continuing to develop its Sydney, Calabasas, Atlanta, and Indianapolis footprint.
Sleep Health Partnerships and Consumer Awareness
ResMed announced a collaboration with Eight Sleep that will connect myAir sleep insights to the Eight Sleep app in the U.S. and Australia. Its OURA partnership generated approximately 28,000 users visiting resmed.com as of September 30, more than double the figure at the end of July; approximately 72% of assessed users identified themselves as previously undiagnosed for obstructive sleep apnea.
GLP-1 and CPAP Therapy Analysis Shows Higher Engagement
In an analysis covering more than 3.3 million de-identified patients, patients with prescriptions for both CPAP and GLP-1s were more than 11% more likely to start CPAP therapy than patients with a CPAP prescription alone. They were also more than 3% more likely to have a resupply event at one year and more than 7% more likely to have a resupply event at three years.
Clinical Education and Marketing Programs Expanded
ResMed's sleep apnea education courses have been completed approximately 108,000 times by more than 63,000 unique clinicians. The company also highlighted its CPAP Baddies campaign, In Bed With interview series, and athletic partnerships, including its partnership with NASCAR driver Tyler Reddick, to increase awareness and encourage therapy adoption.
Residential Care Software Progress
Excluding the divested MatrixCare business, the remaining Brightree and MEDIFOX DAN residential care software businesses increased revenue 8% in the quarter. ResMed expects its residential care solutions business to deliver high single-digit revenue growth with operating leverage in fiscal year 2027 and reported a solid start powered by Brightree and MEDIFOX DAN.
Nidra Integration and Portfolio Development
ResMed reported good early progress integrating Nidra, its restless legs syndrome therapy acquired from Noctrix. Nidra's commercial footprint is expanding rapidly from a small base, and ResMed is focused on increasing commercial coverage and access through sleep physician-prescribed, DME, and VA channels.
Full-Year Guidance Reiterated
ResMed reiterated fiscal year 2027 core constant currency revenue growth guidance of 5% to 7%, reported revenue guidance of $5.75 billion to $5.85 billion, and non-GAAP EPS guidance of $12 to $12.25. The company continues to expect low double-digit basis-point gross margin expansion, a slight increase in operating margin percentage, more than $1.85 billion returned to shareholders, and capital expenditures of $160 million to $180 million.
Long-Term Strategy and Competitive Position
Management reaffirmed its five-year outlook of high single-digit top-line revenue growth and bottom-line earnings growth higher than revenue growth with leverage. Management also stated that ResMed expects to defend and potentially grow its market share in masks and devices while expanding its digital ecosystem.
Board Leadership Transition Planned
Lead Independent Board Director Ron Taylor announced his retirement after more than 21 years of service. Carol Burt was appointed to become Lead Independent Director effective November 15, 2026.
MX:RMD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed