ResMed Inc. Q3 FY2024 Results Overview

ResMed Inc. (ASX: $RMD) has reported its financial results for the third quarter of fiscal year 2024, ending March 31, 2024. The company's year-over-year revenue grew by 7% to $1.2 billion, with operating profit up by 25% and non-GAAP operating profit up by 23%. The operating cash flows stood at $402 million.

Executive Commentary on Q3 FY2024 Results

ResMed's Chairman & CEO, Mick Farrell, highlighted the robust patient and customer demand for the company's products and software solutions, leading to double-digit mask and accessories revenue growth. He emphasized the focus on bringing market-leading innovation to customers, including the latest AirCurve11 range of non-invasive ventilators and the recently launched AirFit F40 mask system, to continue delivering value for all stakeholders.

Summary of Q3 FY2024 Results and Outlook

ResMed's Q3 FY2024 results reflect strong revenue growth and increased profitability driven by robust demand for its products and software solutions. The company remains focused on market-leading innovation, aiming to bring value to its stakeholders. With the introduction of new devices and masks, ResMed continues to pioneer innovative solutions, empowering people to live healthier, higher-quality lives. The company's dividend program and ongoing capital management further demonstrate its commitment to delivering value to its shareholders. Looking ahead, ResMed's comprehensive out-of-hospital software platforms and digital health technologies position it to continue improving quality of life, reducing the impact of chronic disease, and lowering costs for consumers and healthcare systems globally.