ResMed's sleep apnoea machines beat earnings forecasts
The Australian-American company reported $A2 billion revenue for Q1, up 6%, with earnings per share jumping 14%.
ResMed makes CPAP machines and sleep health devices. The company reported quarterly revenue of $A2 billion, beating consensus expectations.
Earnings per share rose 14 per cent even though forecasts said it would fall. ResMed hit two major milestones: 36 million cloud-connected medical devices sold worldwide and over 13 million downloads of its myAir app.
The app helps patients stick with therapy. ResMed is now partnering with tech companies to catch more people with sleep apnoea early.
It teamed up with Eight Sleep, ŌURA, and Samsung. These partners help identify at-risk users and send them to sleep screening.
Mick Farrell, chief executive and chairman, said the company is excited about how these partnerships bring new patients into ResMed's care system.
- $US1.4 billion ($A2 billion)
- Revenue Q1
- 14 per cent
- EPS growth
- 36 million
- Cloud devices sold
- 13 million
- myAir app downloads
Why it mattersResMed's growth shows sleep health tech is becoming a real business opportunity, and partnerships with consumer devices mean more people might get diagnosed and treated.
AustraliaResMed is based partly in Australia and employs local workers; stronger earnings and expansion mean more investment and job stability for the company's Australian operations.
✓ Claims checked against the source and corrected before publish. checked 2 h ago
