ResMed reports ‘strong sales growth’ 

SAN DIEGO – ResMed reported revenue increased by 16% to $1.03 billion in the second quarter of fiscal year 2023 compared to the same period the previous year. 

Net income was $224.9 million vs. $216.2 million. 

“During the second quarter, we significantly increased production and delivery of flow generator devices to meet the incredible demand from customers, resulting in strong sales growth in the Americas, and solid overall performance for our business across 140 countries,” said Mick Farrell, ResMed’s CEO. “Looking ahead, we remain focused on delivering lifesaving therapy solutions and accelerating the adoption of digital health in sleep apnea, COPD, and out-of-hospital care. During calendar year 2022, we improved over 149 million lives, and we are well on our way to our goal of helping 250 million people sleep better, breathe better, and live higher-quality lives with outside-hospital care in 2025.”  

For the six months ended Dec. 31, 2022, ResMed reported revenue increased 10% to $1.98 billion. Net income was $435.4 million vs. $405.4 million. 

ResMed reported revenue in the U.S., Canada and Latin America, excluding Software-as-a-Service, grew by 26%, primarily due to the factors discussed above and the recovery of core sleep patient flow that was previously impacted by COVID-19. 

It reported Software-as-a-Service revenue increased 18% due to its acquisition of MEDIFOX DAN and continued growth in its HME vertical. 

Additionally, ResMed has announced that its board of directors has appointed Farrell as chair. He succeeds Peter Farrell, who will become chair emeritus and will remain an active board member. Farrell became CEO on March 1, 2013, and has served as a member of the board since assuming that role.