Resmed Inc. Announces Results for the First Quarter of Fiscal Year 2026

• Revenue increased by 9% to $1.3 billion; up 8% on a constant currency basis

• Gross margin up 290 bps to 61.5%; non-GAAP gross margin up 280 bps to 62.0%

• Income from operations increased 15%; non-GAAP income from operations up 19%

• Diluted earnings per share of $2.37; non-GAAP diluted earnings per share of $2.55

• Operating cash flow of $457 million

A typically solid result. The price has been drifting gently downwards heading into it, and seems to have stabilised, though it is too early to judge conclusively.

If it wasn't my largest position, I would have likely already added to my position heading into the print.