Earnings release
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Exhibit 99.1 For investors For media +1 858-221-3304 +1 619-510-1281 investorrelations@resmed.com news@resmed.com Resmed Inc. Announces Results for the Second Quarter of Fiscal Year 2026 • Revenue increased by 11% to $1.4 billion; up 9% on a constant currency basis • Gross margin up 320 bps to 61.8%; non-GAAP gross margin up 310 bps to 62.3% • Income from operations increased 18%; non-GAAP income from operations up 19% • Diluted earnings per share of $2.68; non-GAAP diluted earnings per share of $2.81 • Operating cash flow of $340 million Note: A webcast of Resmed’s conference call will be available at 4:30 p.m. ET today at http://investor.resmed.com SAN DIEGO, January 29, 2026 – Resmed Inc. (NYSE: RMD, ASX: RMD) today announced results for its quarter ended December 31, 2025. “Our second quarter results demonstrate the strength and resilience of our global business as we continue advancing our mission to help people sleep better, breathe better, and live longer and healthier lives in the comfort of their own home,” said Resmed’s Chairman and CEO, Mick Farrell. “Year-over-year, we delivered 11% headline revenue growth, 310 basis points of non-GAAP gross margin expansion, and continued operating excellence, resulting in another quarter of mid-teens non-GAAP EPS growth. These results reflect strong ongoing demand for our market-leading sleep and respiratory care devices, as well as the growing impact of our digital health ecosystem that spans more than 140 countries. As we move into the second half of fiscal year 2026, we will continue to invest in innovation to scale our digital health capabilities and expand global access to life-saving care, while delivering sustainable, profitable growth.”
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RMD Second Quarter 2026 Earnings Press Release – January 29, 2026 Page 2 of 10 Financial Results and Operating Metrics Unaudited; $ in millions, except for per share amounts Three Months Ended December 31,2025 December 31,2024 % Change ConstantCurrency (A) Revenue $ 1,422.8 $ 1,282.1 11% 9% Gross margin 61.8% 58.6% 5 Non-GAAP gross margin (B) 62.3% 59.2% 5 Selling, general, and administrative expenses 278.4 241.6 15 12 Research and development expenses 91.0 81.4 12 10 Income from operations 491.7 417.2 18 Non-GAAP income from operations (B) 517.2 435.9 19 Net income 392.6 344.6 14 Non-GAAP net income (B) 411.5 358.3 15 Diluted earnings per share $ 2.68 $ 2.34 15 Non-GAAP diluted earnings per share (B) $ 2.81 $ 2.43 16 Six Months Ended December 31,2025 December 31,2024 % Change ConstantCurrency (A) Revenue $ 2,758.4 $ 2,506.6 10% 8% Gross margin 61.6% 58.6% 5 Non-GAAP gross margin (B) 62.2% 59.2% 5 Selling, general, and administrative expenses 537.6 480.6 12 10 Research and development expenses 178.3 160.9 11 10 Income from operations 938.2 804.6 17 Non-GAAP income from operations (B) 999.3 842.3 19 Net income 741.1 656.0 13 Non-GAAP net income (B) 786.4 683.7 15 Diluted earnings per share $ 5.05 $ 4.45 13 Non-GAAP diluted earnings per share (B) $ 5.36 $ 4.63 16 (A) In order to provide a framework for assessing how our underlying businesses performed, excluding the effect of foreign currency fluctuations, we provide certain financial information on a “constant currency” basis, which is in addition to the actual financial information presented. In order to calculate our constant currency information, we translate the current period financial information using the foreign currency exchange rates that were in effect during the previous comparable period. However, constant currency measures should not be considered in isolation or as an alternative to U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP. (B) See the reconciliation of non-GAAP financial measures in the table at the end of the press release. Discussion of Second Quarter Results All comparisons are to the prior year period unless otherwise noted • Revenue grew by 9 percent on a constant currency basis, driven by increased demand for our portfolio of sleep devices, masks and accessories. • Revenue in the U.S., Canada, and Latin America, excluding Residential Care Software, grew by 11 percent. • Revenue in Europe, Asia, and other markets, excluding Residential Care Software, grew by 6 percent on a constant currency basis. • Residential Care Software revenue increased by 5 percent on a constant currency basis.
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RMD Second Quarter 2026 Earnings Press Release – January 29, 2026 Page 3 of 10 • Gross margin increased by 320 basis points primarily driven by manufacturing and logistics efficiencies and component cost improvements. Non-GAAP gross margin increased by 310 basis points due to the same factors. • Selling, general, and administrative expenses increased by 12 percent on a constant currency basis. The increase in SG&A expenses was mainly due to additional expenses associated with our VirtuOx acquisition, employee costs as well as marketing and technology investments. SG&A expenses were 19.6 percent of revenue in the quarter, compared with 18.8 percent in the same period of the prior year. • We recorded $6 million of restructuring-related charges following the finalization of our company-wide workforce planning activities undertaken in the first quarter of the fiscal year. Restructuring charges were comprised of employee severance and other one-time termination benefits. • Income from operations increased by 18 percent and non-GAAP income from operations increased by 19 percent. • Net income for the quarter was $393 million and diluted earnings per share was $2.68. Non-GAAP net income increased by 15 percent to $411 million, and non-GAAP diluted earnings per share increased by 16 percent to $2.81, predominantly attributable to strong sales growth and gross margin improvement. • Operating cash flow for the quarter was $340 million, compared to net income in the current quarter of $393 million and non-GAAP net income of $411 million. • During the quarter, we paid $88 million in dividends to shareholders and repurchased 704,000 shares for consideration of $175 million as part of our ongoing capital management. Other Business and Operational Highlights • Published new research in SLEEP (N=370,000+) showing in patients with OSA across all comorbidity cohorts each additional hour of PAP use linked to a 4.1-6.2% reduction in healthcare utilization over 12-24 months (p < 0.0001). • Announced it received FDA clearance for an AI-enabled digital medical device, to be marketed as Smart Comfort, designed to personalize CPAP comfort settings and improve patient adherence. • Presented at the J.P. Morgan Healthcare Conference, highlighting its long-term growth opportunities, connected-care ecosystem, and continued leadership in digital sleep and respiratory health. Dividend program The Resmed board of directors today declared a quarterly cash dividend of $0.60 per share. The dividend will have a record date of February 12, 2026, payable on March 19, 2026. The dividend will be paid in U.S. currency to holders of Resmed’s common stock trading on the New York Stock Exchange. Holders of CHESS Depositary Interests (“CDIs”) trading on the Australian Securities Exchange will receive an equivalent amount in Australian currency, based on the exchange rate on the record date, and reflecting the 10:1 ratio between CDIs and NYSE shares. The ex-dividend date will be February 11, 2026, for common stockholders and for CDI holders. Resmed has received a waiver from the ASX’s settlement operating rules, which will allow Resmed to defer processing conversions between its common stock and CDI registers from February 11, 2026, through February 12, 2026, inclusive.
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RMD Second Quarter 2026 Earnings Press Release – January 29, 2026 Page 4 of 10 Webcast details Resmed will discuss its second quarter fiscal year 2026 results on its webcast at 1:30 p.m. U.S. Pacific Time today. The live webcast of the call can be accessed on Resmed’s Investor Relations website at investor.resmed.com. Please go to this section of the website and click on the icon for the “Q2 2026 Earnings Webcast” to register and listen to the live webcast. A replay of the earnings webcast will be accessible on the website and available approximately two hours after the live webcast. In addition, a telephone replay of the conference call will be available approximately three hours after the webcast by dialing +1 877-660-6853 (U.S.) or +1 201-612-7415 (outside U.S.) and entering the passcode 13757750. The telephone replay will be available until February 12, 2026. About Resmed Resmed (NYSE: RMD, ASX: RMD) creates life-changing health technologies that people love. We’re relentlessly committed to pioneering innovative technology to empower millions of people in 140 countries to live happier, healthier lives. Our AI-powered digital health solutions, cloud-connected devices and intelligent software make home healthcare more personalized, accessible and effective. Ultimately, Resmed envisions a world where every person can achieve their full potential through better sleep and breathing, with care delivered in their own home. Learn more about how we’re redefining sleep health at Resmed.com and follow @Resmed. Safe harbor statement Statements contained in this release that are not historical facts are “forward-looking” statements as contemplated by the Private Securities Litigation Reform Act of 1995. These forward-looking statements – including statements regarding Resmed’s projections of future revenue or earnings, expenses, new product development, new product launches, new markets for its products, the integration of acquisitions, our supply chain, domestic and international regulatory developments, litigation, tax outlook, and the expected impact of macroeconomic conditions of our business – are subject to risks and uncertainties, which could cause actual results to materially differ from those projected or implied in the forward-looking statements. Additional risks and uncertainties are discussed in Resmed’s periodic reports on file with the U.S. Securities & Exchange Commission. Resmed does not undertake to update its forward-looking statements. – More –
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RMD Second Quarter 2026 Earnings Press Release – January 29, 2026 Page 5 of 10 RESMED INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations (Unaudited; $ in thousands, except for per share amounts) Three Months Ended Six Months Ended December 31,2025 December 31,2024 December 31,2025 December 31,2024 Net revenue $1,422,808 $1,282,089 $2,758,390 $2,506,598 Cost of sales 536,276 523,180 1,043,217 1,022,800 Amortization of acquired intangibles (1) 7,808 7,634 15,630 15,304 Total cost of sales $ 544,084 $ 530,814 $1,058,847 $1,038,104 Gross profit $ 878,724 $ 751,275 $1,699,543 $1,468,494 Selling, general, and administrative 278,396 241,613 537,590 480,592 Research and development 90,969 81,372 178,292 160,897 Amortization of acquired intangibles (1) 11,764 11,047 23,721 22,451 Restructuring expenses (1) 5,935 — 21,745 — Total operating expenses $ 387,064 $ 334,032 $ 761,348 $ 663,940 Income from operations $ 491,660 $ 417,243 $ 938,195 $ 804,554 Other income (expenses), net: Interest (expense) income, net $ 7,949 $ (775) $ 16,742 $ (2,436) Gain (loss) attributable to equity method investments 1,515 1,077 3,004 2,040 Gain (loss) on equity investments 306 (1,439) (5,884) (2,119) Other, net (5,282) 2,216 (9,117) (219) Total other income (expenses), net 4,488 1,079 4,745 (2,734) Income before income taxes $ 496,148 $ 418,322 $ 942,940 $ 801,820 Income taxes 103,555 73,700 201,811 145,843 Net income $ 392,593 $ 344,622 $ 741,129 $ 655,977 Basic earnings per share $ 2.69 $ 2.35 $ 5.08 $ 4.47 Diluted earnings per share $ 2.68 $ 2.34 $ 5.05 $ 4.45 Non-GAAP diluted earnings per share (1) $ 2.81 $ 2.43 $ 5.36 $ 4.63 Basic shares outstanding 145,842 146,810 146,012 146,835 Diluted shares outstanding 146,372 147,481 146,633 147,520 (1) See the reconciliation of non-GAAP financial measures in the table at the end of the press release. – More –
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RMD Second Quarter 2026 Earnings Press Release – January 29, 2026 Page 6 of 10 RESMED INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited; $ in thousands) December 31,2025 June 30,2025 Assets Current assets: Cash and cash equivalents $1,417,069 $1,209,450 Accounts receivable, net 985,634 939,492 Inventories 922,045 927,711 Prepayments and other current assets 494,053 428,952 Total current assets $3,818,801 $3,505,605 Non-current assets: Property, plant, and equipment, net $ 564,254 $ 550,790 Operating lease right-of-use assets 165,916 167,497 Goodwill and other intangibles, net 3,474,610 3,511,541 Deferred income taxes and other non-current assets 479,789 438,958 Total non-current assets $4,684,569 $4,668,786 Total assets $8,503,370 $8,174,391 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 250,406 $ 278,157 Accrued expenses 391,500 402,253 Operating lease liabilities, current 29,759 30,506 Deferred revenue 176,050 166,030 Income taxes payable 140,493 132,274 Short-term debt 259,906 9,900 Total current liabilities $1,248,114 $1,019,120 Non-current liabilities: Deferred revenue $ 159,789 $ 156,803 Deferred income taxes 77,994 77,682 Operating lease liabilities, non-current 154,133 153,015 Other long-term liabilities 138,538 141,520 Long-term debt 403,923 658,392 Total non-current liabilities $ 934,377 $1,187,412 Total liabilities $2,182,491 $2,206,532 Stockholders’ equity Common stock $ 763 $ 761 Additional paid-in capital 2,102,992 2,033,599 Retained earnings 6,647,285 6,081,490 Treasury stock (2,400,298) (2,073,292) Accumulated other comprehensive income (29,863) (74,699) Total stockholders’ equity $6,320,879 $5,967,859 Total liabilities and stockholders’ equity $8,503,370 $8,174,391 – More –
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RMD Second Quarter 2026 Earnings Press Release – January 29, 2026 Page 7 of 10 RESMED INC. AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (Unaudited; $ in thousands) Three Months Ended Six Months Ended December 31,2025 December 31,2024 December 31,2025 December 31,2024 Cash flows from operating activities: Net income $ 392,593 $ 344,622 $ 741,129 $ 655,977 Adjustment to reconcile net income to cash provided by operating activities: Depreciation and amortization 49,885 46,439 97,583 91,169 Amortization of right-of-use assets 12,445 9,463 22,416 18,443 Stock-based compensation costs 28,938 22,634 50,098 42,790 (Gain) loss attributable to equity method investments, net of dividends received (1,515) (1,077) (3,004) (2,040) (Gain) loss on equity investments (306) 1,439 5,884 2,119 Changes in operating assets and liabilities: Accounts receivable, net (72,682) (67,853) (42,712) (31,436) Inventories, net 26,129 (7,641) 11,466 (77,895) Prepaid expenses, net deferred income taxes and other current assets (106,387) (43,623) (104,075) (43,746) Accounts payable, accrued expenses, income taxes payable and other 10,645 4,219 18,281 (21,220) Net cash provided by (used in) operating activities $ 339,745 $ 308,622 $ 797,066 $ 634,161 Cash flows from investing activities: Purchases of property, plant, and equipment (28,539) (20,644) (71,504) (38,484) Patent registration and acquisition costs (4,537) (2,825) (7,351) (4,592) Purchases of intangible assets (1,479) — (1,479) — Business acquisitions, net of cash acquired — (670) (522) (670) Purchases of investments (4,231) (1,000) (6,404) (2,350) Proceeds from exits of investments 250 250 250 4,378 Proceeds (payments) on maturity of foreign currency contracts (12,406) (11,803) (16,510) 7,172 Net cash provided by (used in) investing activities $ (50,942) $ (36,692) $ (103,520) $ (34,546) Cash flows from financing activities: Proceeds from issuance of common stock, net 29,557 26,877 37,762 35,260 Purchases of treasury stock (175,014) (74,986) (325,024) (124,991) Taxes paid related to net share settlement of equity awards (20,308) (16,734) (21,027) (17,123) Payments of business combination contingent consideration — — — (855) Repayment of borrowings (5,000) (5,000) (5,000) (35,000) Dividends paid (87,584) (77,695) (175,334) (155,586) Net cash provided by (used in) financing activities $ (258,349) $(147,538) $ (488,623) $(298,295) Effect of exchange rate changes on cash $ 2,767 $ (28,809) $ 2,696 $ (17,737) Net increase (decrease) in cash and cash equivalents 33,221 95,583 207,619 283,583 Cash and cash equivalents at beginning of period 1,383,848 426,361 1,209,450 238,361 Cash and cash equivalents at end of period $1,417,069 $ 521,944 $1,417,069 $ 521,944 – More –
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RMD Second Quarter 2026 Earnings Press Release – January 29, 2026 Page 8 of 10 RESMED INC. AND SUBSIDIARIES Reconciliation of Non-GAAP Financial Measures (Unaudited; $ in thousands, except for per share amounts) The measures “non-GAAP gross profit” and “non-GAAP gross margin” exclude amortization expense from acquired intangibles and are reconciled below: Three Months Ended Six Months Ended December 31,2025 December 31,2024 December 31,2025 December 31,2024 Revenue $1,422,808 $1,282,089 $2,758,390 $2,506,598 GAAP cost of sales $ 544,084 $ 530,814 $1,058,847 $1,038,104 Less: Amortization of acquired intangibles (A) (7,808) (7,634) (15,630) (15,304) Non-GAAP cost of sales $ 536,276 $ 523,180 $1,043,217 $1,022,800 GAAP gross profit $ 878,724 $ 751,275 $1,699,543 $1,468,494 GAAP gross margin 61.8% 58.6% 61.6% 58.6% Non-GAAP gross profit $ 886,532 $ 758,909 $1,715,173 $1,483,798 Non-GAAP gross margin 62.3% 59.2% 62.2% 59.2% The measure “non-GAAP income from operations” is reconciled with GAAP income from operations below: Three Months Ended Six Months Ended December 31,2025 December 31,2024 December 31,2025 December 31,2024 GAAP income from operations $ 491,660 $ 417,243 $ 938,195 $ 804,554 Amortization of acquired intangibles—cost of sales (A) 7,808 7,634 15,630 15,304 Amortization of acquired intangibles—operating expenses (A) 11,764 11,047 23,721 22,451 Restructuring (A) 5,935 — 21,745 — Non-GAAP income from operations $ 517,167 $ 435,924 $ 999,291 $ 842,309 – More –
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RMD Second Quarter 2026 Earnings Press Release – January 29, 2026 Page 9 of 10 RESMED INC. AND SUBSIDIARIES Reconciliation of Non-GAAP Financial Measures (Unaudited; $ in thousands, except for per share amounts) The measures “non-GAAP net income” and “non-GAAP diluted earnings per share” are reconciled with GAAP net income and GAAP diluted earnings per share in the table below: Three Months Ended Six Months Ended December 31,2025 December 31,2024 December 31,2025 December 31,2024 GAAP net income $ 392,593 $ 344,622 $ 741,129 $ 655,977 Amortization of acquired intangibles—cost of sales (A) 7,808 7,634 15,630 15,304 Amortization of acquired intangibles—operating expenses (A) 11,764 11,047 23,721 22,451 Restructuring expenses (A) 5,935 — 21,745 — Income tax effect on non-GAAP adjustments (A) (6,627) (4,962) (15,875) (10,033) Non-GAAP net income (A) $ 411,473 $ 358,341 $ 786,350 $ 683,699 GAAP diluted shares outstanding 146,372 147,481 146,633 147,520 GAAP diluted earnings per share $ 2.68 $ 2.34 $ 5.05 $ 4.45 Non-GAAP diluted earnings per share (A) $ 2.81 $ 2.43 $ 5.36 $ 4.63 (A) Resmed adjusts for the impact of the amortization of acquired intangibles and restructuring expenses from their evaluation of ongoing operations, and believes that investors benefit from adjusting these items to facilitate a more meaningful evaluation of current operating performance. Resmed believes that non-GAAP diluted earnings per share is an additional measure of performance that investors can use to compare operating results between reporting periods. Resmed uses non-GAAP information internally in planning, forecasting, and evaluating the results of operations in the current period and in comparing it to past periods. Resmed believes this information provides investors better insight when evaluating Resmed’s performance from core operations and provides consistent financial reporting. The use of non-GAAP measures is intended to supplement, and not to replace, the presentation of net income and other GAAP measures. Like all non-GAAP measures, non-GAAP earnings are subject to inherent limitations because they do not include all the expenses that must be included under GAAP. – More –
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RMD Second Quarter 2026 Earnings Press Release – January 29, 2026 Page 10 of 10 RESMED INC. AND SUBSIDIARIES Revenue by Product and Region (Unaudited; $ in millions, except for per share amounts) Three Months Ended December 31,2025 (A) December 31,2024 (A) % Change ConstantCurrency (B) U.S., Canada, and Latin America Devices $ 448.0 $ 414.5 8% Masks and other 387.0 334.5 16 Total U.S., Canada and Latin America $ 835.0 $ 748.9 11 Combined Europe, Asia, and other markets Devices $ 278.2 $ 254.8 9% 5% Masks and other 142.7 121.8 17 8 Total Combined Europe, Asia and other markets $ 420.9 $ 376.6 12 6 Global revenue Total Devices $ 726.2 $ 669.3 9% 7% Total Masks and other 529.7 456.3 16 14 Total Sleep and Breathing Health $ 1,255.9 $ 1,125.6 12 10 Residential Care Software 166.9 156.5 7 5 Total $ 1,422.8 $ 1,282.1 11 9 Six Months Ended December 31,2025 (A) December 31,2024 (A) %Change ConstantCurrency (B) U.S., Canada, and Latin America Devices $ 861.5 $ 799.0 8% Masks and other 748.3 657.3 14 Total U.S., Canada and Latin America $ 1,609.8 $ 1,456.3 11 Combined Europe, Asia, and other markets Devices $ 545.0 $ 496.1 10% 6% Masks and other 270.6 241.0 12 6 Total Combined Europe, Asia and other markets $ 815.6 $ 737.1 11 6 Global revenue Total Devices $ 1,406.5 $ 1,295.1 9% 7% Total Masks and other 1,018.9 898.2 13 12 Total Sleep and Breathing Health $ 2,425.4 $ 2,193.3 11 9 Residential Care Software 333.0 313.3 6 5 Total $ 2,758.4 $ 2,506.6 10 8 (A) Totals and subtotals may not add due to rounding. (B) In order to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency fluctuations, we provide certain financial information on a “constant currency basis,” which is in addition to the actual financial information presented. In order to calculate our constant currency information, we translate the current period financial information using the foreign currency exchange rates that were in effect during the previous comparable period. However, constant currency measures should not be considered in isolation or as an alternative to U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP. – End –