ResMed shares fell 9.1% after earnings, despite growth in revenue, gross margin and non-GAAP EPS. The transcript provides no explicit guidance cut or cautious outlook; the likely concern is that 7% core constant-currency revenue growth did not satisfy investors’ expectations.
- Q1 revenue grew 7% on a core constant-currency basis; gross margin expanded 50 basis points year over year.
- Non-GAAP EPS increased 14%. ResMed returned more than $1 billion to shareholders through dividends and share repurchases, funded by MatrixCare divestiture proceeds and cash on hand.
- The company said its fabric masks showed a 6% increase in therapy adherence versus silicone equivalents; 91% of patients in a ResMed study rated the new AirTouch F40 comfortable or very comfortable at initial fitting.
- ResMed reported more than 13 million myAir app downloads. Its Dawn digital sleep coach had received more than 2.1 million patient inquiries, up over 40% from the prior quarter.
- Early real-world data showed Smart Comfort was associated with a 4.3% increase in 30-day compliance versus device default settings.
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