Filing Flows › ResMed (RMD) › Q1 FY26
ResMed (RMD) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Oct 31, 2025
ResMed (RMD) reported revenue of $1.3B for the first quarter fiscal 2026 (Q1 FY26), +9% from a year earlier and -0.9% from the quarter before. Operating margin was 33.4%, net earnings $349M (26.1% of revenue).
ResMed, Q1 FY26: revenue $1.3B (+9% year over year), operating margin 33.4%, net earnings $349M, operating cash flow $457M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | -0.9% | +9% |
| Gross profit | $818M | -0.3% | +14% |
| Operating profit | $447M | -2% | +15% |
| Net earnings | $349M | -8% | +12% |
| Operating cash flow | $457M | -15% | +40% |
| Free cash flow | $414M | -18% | +35% |
What changed
Revenue was $1.3B in Q1 FY26, up 9% year over year and down 1% from the previous quarter. Sleep and Breathing Health was the largest line at 88% of revenue. Sleep and Breathing Health added $0.10B year over year (up 10%), 92% of the total change.
Gross margin was 61.2%, up 2.6 points from a year earlier. Operating profit was $0.45B, a 33.4% margin (up 1.8 points year over year). Of the extra revenue versus a year earlier, 53% reached operating profit, above the 32% margin then. Operating expenses grew 12% against revenue growth of 9%. The fastest-growing cost line was Other operating costs (+97%). Net earnings were $0.35B, up 12% year over year. The effective tax rate was 22.0%.
Operating cash flow was $0.46B (up 40% year over year), 131% of net earnings. Non-cash charges added back $0.05B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.04B. Capital expenditures of $0.04B left free cash flow of $0.41B.
Questions
What was ResMed's revenue in the first quarter fiscal 2026?
ResMed (RMD) reported revenue of $1.3B for the first quarter fiscal 2026 (Q1 FY26), +9% from a year earlier and -0.9% from the quarter before.
Was ResMed profitable in the first quarter fiscal 2026?
Operating profit was $447M (33.4% of revenue) and net earnings $349M.
Source: ResMed 10-Q on SEC EDGAR.