Shares fell 3.3% post-earnings, with investor concerns likely centered on the CFO transition rather than the operational results themselves. The retirement of long-tenured CFO Brett Sandercock and the appointment of Aaron Blumer appears to have overshadowed double-digit revenue and EPS growth.
- Q3 revenue increased 11% year over year (8% in constant currency).
- Non-GAAP EPS grew 21% from the prior year.
- Gross margin expanded 290 basis points year over year, and 50 basis points sequentially.
- Longstanding CFO Brett Sandercock announced retirement; Aaron Blumer, former Exact Sciences CFO, appointed as successor.
- Product innovation continued, with strong adoption of fabric-based masks and expansion of the AirSense 11 platform into new international markets.
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