Q4 2024 Resmed Inc Earnings Call Transcript
Key Points
- ResMed Inc (RMD) reported strong double-digit growth in both revenue and net operating profit for Q4 fiscal year 2024.
- The masks and accessories business experienced a 15% year-over-year growth, driven by new product innovations like the AirFit F40.
- The residential care software business delivered a 10% year-over-year growth, supported by the Brightree and MEDIFOX DAN brands.
- ResMed Inc (RMD) has a significant market opportunity with over 2.4 billion people worldwide suffering from sleep apnea, insomnia, or respiratory insufficiency.
- The company is leveraging its extensive digital health ecosystem, including AirView and myAir, to improve patient outcomes and drive market penetration.
- Freight costs are expected to be a headwind in fiscal year 2025, impacting gross margins.
- Device sales growth of 6% was lower than some analysts' expectations, raising concerns about market competition and pricing impacts.
- The company faces ongoing competition from other players in the market, including Philips, which is re-entering international markets.
- There are concerns about the impact of GLP-1 medications on the long-term demand for CPAP therapy, despite current data showing no significant increase in CPAP quitters.
- ResMed Inc (RMD) needs to continue investing in demand generation initiatives to maintain and grow its market share in an underpenetrated market.
Hello, and welcome to the Q4 fiscal year 2024 ResMed earnings conference all. My name is Kevin, and I'll be your operator for today's call. (Operator Instructions)
Please note this conference call is being recorded. I'll now turn the call over to Amy Wakeham, Chief Investor Relations Officer. Please go ahead, Amy.
Great. Thank you, Kevin. Hello, everyone. Welcome to ResMed's fourth-quarter fiscal year 2024 earnings call. We are live webcasting this call, and the replay will be available on the Investor Relations section of our corporate website later today. Our earnings press release and presentation are both available online now.
During today's call, we will discuss several non-GAAP measures that we believe provide useful information for investors. This information is not intended to be considered in isolate or as a substitute for the GAAP financial information. We encourage you to review the supporting schedules in today's earnings press release to reconcile the non-GAAP measures
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