ResMed (ASX: RMD) has announced double-digit earnings per share (EPS) growth for the quarter ending March, fueled by rising market demand for its sleep apnoea products and software solutions. The company’s revenue increased by 8% to US$1.3 billion (9% on a constant currency basis), with income from operations rising 14% to US$426.3 million. ResMed’s residential care software solutions saw a 10% revenue increase on a constant currency basis, reflecting organic growth in the sector.
Operating cash flow for the quarter reached US$579 million, compared to a net income of US$365 million. This figure includes a US$107 million US government tax refund. CEO Mick Farrell cited the results as evidence of customer recognition of ResMed’s products and software solutions as the gold standard for care. The company is focused on addressing a market of over 2.3 billion people globally with sleep and breathing issues. ResMed also announced the availability of its home sleep apnoea test, NightOwl, across the US, offering healthcare providers a simplified method for diagnosing obstructive sleep apnoea (OSA).
A recent study published in *The Lancet Respiratory Medicine*, supported by ResMed, analyzed data from over one million sleep apnoea patients and demonstrated that CPAP therapy could significantly reduce the risk of death for people with OSA.
