ResMed shares have reached a record high after the medical device-maker posted another solid quarter of earnings growth.
The company on Friday said it made $US1.35 billion ($2.09 billion) in revenue in the three months to June 30, up 10 per cent from $US1.2 billion ($1.9 billion) from the same time in 2024.
It posted a gross profit of $US820 million ($1.27billion), up from $715 million ($1.1 billion) a year ago, amid strong global demand for its sleep and breathing devices.
“The company delivered a good result with revenue, gross profit, income from operations and net income exceeding consensus expectations,” RBC Capital Markets analyst Craig Wong-Pan said.
Late Friday afternoon, ResMed shares were up 1.6 per cent to $43.12, and earlier in the day had hit an all-time high of $44.12.
ResMed shares are up 17.4 per cent so far in 2025 and rose 44.5 per cent in 2024.
Chief executive Mick Farrell told AAP it was a good performance across the board for both ResMed’s CPAP machines and its face masks, which are used by patients suffering from sleep apnoea.
An Australian who lives in ResMed’s corporate headquarters of San Diego, Mr Farrell was in Sydney this week, partly to see the British and Irish Lions play the Wallabies in Sydney on Saturday.
ResMed is the “sleep health sponsor” of the tour, and Mr Farrell said former top players have been recording social media videos about the importance of good sleep health.
One of the coaches even uses a ResMed device and credits it with saving his job, marriage and life, Mr Farrell said.
“So you have stories like that that say, OK, ResMed, is becoming a household name, and therefore, with that brand awareness, we can help people find the path to screening, diagnosis, prescription and therapy for life,” he said.
Ten million people were now using ResMed’s “myAir” app, which worked as a sleep coach for sleep apnoea patients, he said.
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