Key Highlights

  • ResMed reported fourth quarter FY26 revenue of US$1.5 billion, representing 9% year-over-year growth.
  • Full-year FY26 revenue increased to US$5.7 billion, supported by growth across sleep and breathing health products.
  • The company generated US$1.6 billion in free cash flow and returned more than US$1 billion to shareholders during FY26.
  • ResMed increased its quarterly dividend by 10% and expects to return more than US$1.85 billion to shareholders in FY27.

ResMed Inc (ASX:RMD) was trading at AUD 29.85, down 5.18% or AUD 1.63 at the time of writing on 7 August 2026. The global healthcare technology company reported fourth quarter and full-year FY26 results, highlighting continued revenue growth, improved profitability measures, and increased shareholder distributions. ResMed’s performance was supported by demand across sleep devices, masks, accessories, and digital health solutions.

Fourth Quarter Revenue Growth Across Core Businesses

ResMed reported fourth quarter revenue of approximately US$1.5 billion, increasing 9% compared with the previous corresponding period and 8% on a constant currency basis. The company attributed growth to continued demand across its sleep and breathing health portfolio.

Sleep and Breathing Health revenue reached US$1.3 billion during the quarter, with growth recorded across devices, masks, and related products. Americas Sleep and Breathing Health revenue increased 8%, while Rest of World Sleep and Breathing Health revenue increased 10% on a constant currency basis.

Residential Care Software revenue increased 2% on a constant currency basis, contributing to the company’s broader healthcare technology offering.

The company’s product portfolio includes connected devices, software platforms, and digital health solutions designed to support sleep-related and respiratory care needs across global markets.

FY26 Financial Performance and Margin Expansion

For the full financial year, ResMed reported revenue of US$5.7 billion, representing a 10% increase from the previous year and an 8% increase on a constant currency basis.

The company reported GAAP gross margin of 61.1%, an improvement of 170 basis points, while non-GAAP gross margin increased to 62.4%. ResMed also reported a GAAP operating margin of 33.4%, compared with 32.7% in the prior year.

Full-year GAAP diluted earnings per share reached US$10.43, while non-GAAP diluted earnings per share increased 17% to US$11.17. The company attributed earnings improvement to revenue growth, productivity initiatives, and gross margin expansion.

Operating cash flow reached US$1.8 billion, while free cash flow was US$1.6 billion, providing resources for investment, acquisitions, dividends, and share repurchases.

Shareholder Returns and Capital Management

During FY26, ResMed returned approximately US$1.0 billion to shareholders through dividends and share repurchases, representing an increase of more than 70% compared with the previous year.

The company announced a 10% increase in its quarterly dividend to US$0.66 per share. ResMed also stated that it expects to return more than US$1.85 billion to shareholders through share repurchases and dividends during FY27.

The company’s capital allocation strategy continues to balance shareholder returns with investments in innovation, technology development, and business growth initiatives.

Portfolio Expansion and Healthcare Technology Development

ResMed continued expanding its healthcare technology capabilities during FY26. The company announced an agreement to sell its MatrixCare business and completed the acquisition of Noctrix Health, a medical device company focused on wearable therapeutics for Restless Leg Syndrome.

The company also partnered with ŌURA to expand access to sleep health education and pathways to care. These initiatives reflect ResMed’s focus on combining medical devices, software, and digital health solutions.

During the year, ResMed launched additional products across international markets, including AirSense 11 in Taiwan, AirCurve 11 ST/ST-A in the United States, and AirTouch F30i Comfort in Brazil and Chile.

Future Business Outlook

ResMed enters FY27 with a focus on expanding digital capabilities, improving patient outcomes, and continuing product innovation. The company’s global scale and established healthcare technology platform remain central elements of its operating strategy.

Future performance will depend on healthcare demand, product adoption, regulatory developments, competitive conditions, and the company’s ability to continue integrating technology into home healthcare solutions.

Conclusion

ResMed’s FY26 results demonstrate continued business expansion through higher revenue, improved margins, and significant cash generation. The company’s performance across sleep health products, digital solutions, and international markets has supported its financial progress. With continued investment in innovation and an increased shareholder return program, ResMed remains focused on developing its healthcare technology platform while managing future growth opportunities.