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Company News Summary

ResMed Inc. Announces NPAT of $163,137 for the Third Quarter of FY2020

26 Jun 2020  |  16:37:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: ResMed Announces Results for the Third Quarter of FY2020

ResMed Inc. announced that revenue in combined Europe, Asia, and other markets grew by 27% on a constant currency basis primarily driven by sales across their mask and device product portfolios, including increased demand for their ventilators due to COVID-19. The Company updated that Software as a Service revenue increased by 12%, due to continued growth in Brightree and MatrixCare service offerings. As reported, gross margin expanded by 90 basis points. Non-GAAP gross margin expanded by 70 basis points due to benefits from product mix changes, and manufacturing and procurement efficiencies, partially offset by declines in average selling prices. The Company further updated that income from operations increased by 39% and non-GAAP income from operations increased by 31%.

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