RESMED, INC. Q3 FY2024 Earnings
April 25, 2024
Presentation of financial information & forward-looking statements
Historical financial and operating data in this presentation reflect the consolidated results of ResMed Inc., its subsidiaries, and its legal entities, for the periods indicated.
This presentation includes financial information prepared in accordance with accounting principles generally accepted in the United States, or GAAP, as well as other financial measures referred to as non-GAAP. The non-GAAP financial measures in this presentation, which include non-GAAP Income from Operations, non-GAAP Net Income, and non-GAAP Diluted Earnings per Share, should be considered in addition to, but not as substitutes for, the information prepared in accordance with GAAP. For reconciliations of the non-GAAP financial measures to the most comparable GAAP measures, please refer to the earnings release associated with the relevant reporting period, which can be found on the investor relations section of our corporate website (investor.resmed.com).
In addition to historical information, this presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on ResMed's current expectations of future revenue or earnings, new product development, new product launches, new markets for its products, integration of acquisitions, leveraging of strategic investments, litigation, and tax outlook. Forward-looking statements can generally be identified by terminology such as "believe," "expect," "intend," anticipate," "will continue," "will," "estimate," "plan," "future," and other similar expressions or variations of these terms, the negative of these terms, or other comparable terminology.
ResMed's expectations, beliefs, and forecasts are expressed in good faith and are believed to have a reasonable basis, but actual results could differ materially from
those stated or implied by these forward-looking statements. ResMed assumes no obligation to update the forward-looking information in this presentation, whether as a result of new information, future events, or otherwise. For further discussion of the various factors that could impact actual events or results, please review the "Risk Factors" identified in ResMed's quarterly and annual reports filed with the SEC. All forward-looking statements included in this presentation should be considered in the context of these risks. Investors and prospective investors are cautioned not to unduly rely on our forward-looking statements.
2 © 2024 ResMed | Q3 2024 Earnings Presentation - Apr. 25, 2024
Our mission is to change 250 million lives in 2025
We're proud to offer digital and connected health solutions that help those with sleep apnea, COPD, and other
respiratory diseases live happier, healthier lives in the comfort of home or care setting of their choice
During the last 12 months, we changed over 174 million lives
with our digital health products and cloud-based software solutions
ResMed | The global leader in connected and digital health
Key Statistics1
Headquarters | San Diego, CA | |
Founded | 1989 | |
LTM 3Q24 revenue | $4.6B | |
Listed (NYSE, ASX) | 1995, RMD | |
Market cap2 | ~$25B | |
Countries served | 140+ | |
Total employees | >10,000 | |
12%
Revenue | |
35% | by business |
LTM 3Q24 53% |
- Devices
- Masks & Other
- OOH SaaS
12%
Revenue
30% | by region | |
LTM 3Q24 | 58% | |
- U.S., Canada, and Latin America
- Europe, Asia, and Other
- OOH SaaS (U.S. & Germany)
Sleep Apnea | Respiratory Care | Software as a Service (SaaS) | |
Our | Delivering a market-leading patient | Improving the lives of patients with COPD, | Providing a network out-of-hospital healthcare |
businesses | experience through innovative solutions that | asthma, and other key chronic respiratory | SaaS management solutions that help providers |
lower overall costs for treating sleep apnea | diseases on their healthcare journey - | deliver more personalized care, measurable | |
patients and improve clinical outcomes by | lowering costs, preventing hospitalization, | results, and improved health outcomes across | |
leveraging global digital health solutions | and creating end-to-end care solutions | large populations | |
1As of 3/31/24
2As of 4/25/24, date of Q3 2024 earnings
4 © 2024 ResMed | Q3 2024 Earnings Presentation - Apr. 25, 2024
ResMed 2025: a patient-centric,digitally-enabled strategy
250 million lives improved in out-of-hospital healthcare in 2025!
Purpose Empower people to live happier, healthier, and higher quality lives in the comfort of their home
Growth Focus Global health epidemics in sleep apnea, COPD, other major chronic conditions, and SaaS solutions that improve care in out-of-hospital settings
Growth Advantage Transform care through innovative solutions and tech-drivenintegrated care to drive superior outcomes, experiences, and efficiency
Growth Foundations High-performing, diverse, and entrepreneurial people
Industry-leading innovation and business excellence
Digital health technology and scientific leadership
5 © 2024 ResMed | Q3 2024 Earnings Presentation - Apr. 25, 2024
We provide market-leading solutions for four of the
world's most prevalent and significant chronic diseases
In our primary market,
sleep apnea, the global
prevalence is enormous
and growing1
~1B
with sleep apnea
Our secondary markets of COPD, asthma, and insomnia provide
additional opportunities for digital health innovation and improved health outcomes
~480M
with COPD
~330M
with asthma
~870M
with insomnia
We are leveraging our leadership position and capabilities to improve the lives of more than 2.5 billion people2 with sleep apnea, insomnia, COPD, and asthma
- Sleep apnea prevalence expected to be 1.4B by 2050; more than 80% remain undiagnosed
- >30% of the global population
6 © 2024 ResMed | Q3 2024 Earnings Presentation - Apr. 25, 2024
We do this by delivering digital health solutions that improve outcomes and lower costs
ecosystem
Artificial | |||
Connected devices | intelligence | ||
and digital health | Out-of-hospital | ||
SaaS platforms | DATA | ||
CLINICIAN | |||
APPS/DIGITAL | |||
THERAPEUTICS | |||
Machine | |||
learning | |||
PATIENT/ | IDN | ||
CONSUMER |
HME/PAYORS
DEVICES
PATIENT
RESUPPLY TECH
Patient outcomes
Business outcomes
Operations outcomes
Focused on interoperability so our solutions work with the broader healthcare ecosystem
7 © 2024 ResMed | Q3 2024 Earnings Presentation - Apr. 25, 2024
ResMed is the global leader in connected & digital health
Over 18 billion nights of respiratory medical data
27+ million | 24.5+ million |
patients in AirView | 100% cloud connectable devices worldwide |
3.3+ million | 145+ million |
diagnostic tests processed in the cloud | accounts in out-of-hospital care network |
175+ API | 7.8+ million |
calls per second from integrators | patients have signed up for myAir |
8 © 2024 ResMed | Q3 2024 Earnings Presentation - Apr. 25, 2024
Priorities that guide our daily focus
Grow and differentiate | Deliver world-leading | Build the world's best |
our core sleep apnea, | medical devices and | software solutions |
COPD, and asthma | digital health technology | network for healthcare |
businesses across | to engage physicians, | that is delivered outside |
global markets | providers, and patients | the hospital |
Our triple aim:
- Slow chronic disease progression
- Reduce overall healthcare system costs
- Improve the quality of life for the patient
Empower people to live happier, healthier, and higher quality lives in the comfort of their homes
9 © 2024 ResMed | Q3 2024 Earnings Presentation - Apr. 25, 2024
ResMed has a very large, under-penetrated opportunity to reach and serve OSA patients globally, including a broad range of pharma impact scenarios
TAM without pharma impact
TAM mid-pharma impact
TAM high-pharma impact
ResMed Connected Devices in market
Global OSA patient prevalence from latest epidemiology data
1.4 B | ~1.4B[2] | patients | ||||||||
1.3 B | ||||||||||
~1.3B[3] | patients | |||||||||
1.2 B | ||||||||||
~1.2B[3] | patients | |||||||||
Global OSA prevalence | 1.1 B | |||||||||
1.0 B | ||||||||||
0.9 B | 2015 prevalence estimate: | |||||||||
0.8 B | 936M[1] global OSA patients | Market growth opportunity | ||||||||
0.7 B | ||||||||||
0.6 B | ||||||||||
0.5 B | ||||||||||
0.4 B | ||||||||||
0.3 B | ||||||||||
0.2 B | 2050: ~110M[4] | |||||||||
0.1 B | 2023: 23.5M | |||||||||
0 | ||||||||||
2015 | 2020 | 2025 | 2030 | 2035 | 2040 | 2045 | 2050 |
- Benjafield AV, Ayas NT, Eastwood PR, et al. Estimation of the global prevalence and burden of obstructive sleep apnoea: a literature-based analysis. Lancet Respir Med. Aug 2019;7(8):687-698.
- Internal ResMed analysis based on World Bank forecasted population growth for those aged 30-69 across 193 countries
- Mid-to-highimpacts ranging from ~7.5% to 15% OSA prevalence reduction due to weight-loss pharma, with impact starting in 2024 and ramping by 2029
- Historical growth in ResMed connected device volumes ranges from 5-6% YOY; Growth here shown as 6%; Note revenue growth historically exceeds device volume growth with recurring revenue from masks, accessories & software.
10 © 2024 ResMed | Q3 2024 Earnings Presentation - Apr. 25, 2024
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ResMed Inc. published this content on 25 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2024 22:00:59 UTC.
