ResMed sees improved funnel
By HME News Staff
Updated 8:20 AM CDT, Fri October 27, 2023
SAN DIEGO – ResMed reported revenue of $1.1 billion for the first quarter of fiscal year 2024, a 16% increase.
“ResMed has started fiscal year 2024 with strong revenue growth driven by ongoing patient flow and solid demand across our global sleep and respiratory care markets, alongside increasing adoption of our outside hospital software solutions,” said Mick Farrell, ResMed’s CEO. “Our ability to meet global demand with technologies, including our best-in-class AirSense 11 platform, has positioned us well to continue growing across global markets, with particularly strong growth this quarter in Europe, Asia and beyond. We’ve begun rolling out AI-driven software products into our digital health ecosystem, which I believe will create a new class of offerings that will allow us to continue to drive long-term, profitable growth. New patient starts on our physician and provider-facing platform, called AirView, and our patient-facing app, called myAir, show very strong patient flow. With these increasing rates of patients activated into the healthcare funnel, I am more confident than ever in our growth strategy and our ability to achieve our goal of improving 250 million lives in 2025.”
ResMed reported net income of $219.5 million vs. $222.1 million, and gross margin of 54.4% vs. 56.9%.
The company reported revenue in the U.S., Canada and Latin America, excluding Software-as-a-Service, increased 10%. SAS increased 32%.
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