ResMed expects its gross margin to expand by low double-digit basis points each fiscal year through 2030, driven primarily by volume growth rather than aggressive price increases, according to Chief Financial Officer Aaron Bloomer. Speaking at Morgan Stanley’s 24th Annual Global Healthcare Conference on September 15, 2026, ResMed executives outlined a multi-year financial strategy that combines volume-backed expansion with disciplined margin targets, even as the company manages rising supply chain costs and ongoing product portfolio shifts.
Financial Guidance and Margin Projections for Fiscal 2027
ResMed initiated its official guidance for fiscal 2027 during the Morgan Stanley conference, projecting core constant-currency revenue growth of 5% to 7%. When adjusting for a 7,500만 달러 revenue headwind—representing roughly 130 basis points—associated with an Astral platform product safety notification, management estimates organic growth between 6.3% and 8.3%. The company also forecasts core diluted earnings per share (EPS) growth of 12% to 14%. According to executive statements, gross margin for the first quarter of fiscal 2027 is expected to land just below 62.0%, with consistent improvement anticipated over the course of the fiscal year.
Historical performance supports these projections, as U.S. device revenue grew at a 15% compound annual growth rate from fiscal 2021 through fiscal 2026. In the company’s most recent quarter, Americas sleep device revenue rose 8%, surpassing mid-single-digit internal targets, while mask and accessory sales exceeded high-single-digit guidance. CFO Aaron Bloomer emphasized that volume expansion remains the primary vehicle for durable top-line growth, stating that price adjustments play a secondary, disciplined role rather than serving as the main driver of financial expansion.
Inflationary Pressures and Cost Management Strategies
Management acknowledged persistent financial pressures stemming from rising transportation, fuel, and logistics inflation. Higher freight expenses have been linked in part to regional shipping disruptions, such as those connected to the conflict involving Iran. Additionally, electromechanical component costs have climbed, particularly for older legacy devices like the AirSense 10, exacerbated by structural competition for parts and manufacturing capacity from artificial intelligence and consumer electronics firms.
To offset these rising expenses, ResMed is relying on modest, disciplined price increases, vendor-cost reduction programs, Kaizen manufacturing events, and a broad productivity pipeline, alongside expansions in its U.S. manufacturing and distribution networks. Executives noted that pricing actions will take effect gradually throughout the year, delivering limited impact in the first quarter with more pronounced benefits expected in subsequent quarters.
Portfolio Optimization and the Astral Platform Transition
ResMed continues to reshape its operational footprint to focus squarely on sleep and respiratory care. The company agreed to sell MatrixCare to Frazier Healthcare Partners for 4억 9천만 달러, exiting the slower-growing software-as-a-service (SaaS) market for skilled nursing and senior living. At the same time, ResMed has expanded its portfolio through strategic investments and acquisitions, including Ectosense (developer of the NightOwl finger-worn home sleep apnea test), Somnoware (a pulmonologist workflow software firm), VirtuOx (supporting home sleep apnea testing protocols), and a 3억 4천만 달러 investment in Noctrix, a restless legs syndrome treatment business.
Concurrently, ResMed recorded a 4,200만 달러 cost related to an Astral global product safety notification and plans to sunset the Astral platform after 15 years, with no new unit sales anticipated in fiscal 2027. Production resources are being prioritized for printed circuit board assemblies to support existing Astral patients, while ventilation efforts transition to the Air11 platform’s AirCurve 11 S, ST, and ST-A products, which launched in the U.S. during the previous quarter.
GLP-1 Weight-Loss Medications as a Treatment Tailwind
Addressing investor questions regarding the impact of GLP-1 receptor agonists, Chief Executive Officer Mick Farrell reported that data from a tracked cohort of 익명 환자 prescribed both continuous positive airway pressure (CPAP) therapy and GLP-1 medications shows positive retention trends. According to company analysis, patients using both treatments exhibited an 11 percentage point higher initiation rate than control groups, along with a 300 basis point higher re-supply rate at one year and a 600 basis point higher re-supply rate at three years, with no elevated attrition observed.
Management noted that this GLP-1 patient cohort skews younger and has a higher proportion of female patients compared to the broader sleep apnea population. While weight loss can reduce pressure requirements for certain patients and improve comfort and compliance, executives stated that the trend is acting as a net tailwind for diagnosis and therapy adoption rather than posing a displacement threat.
Frequently Asked Questions
- What is ResMed’s revenue and EPS growth guidance for fiscal 2027?
ResMed projects core constant-currency revenue growth of 5% to 7% and core EPS growth of 12% to 14% for fiscal 2027. - How are GLP-1 weight-loss drugs affecting ResMed’s business?
According to company tracking of patients, GLP-1 medications act as a tailwind by increasing therapy initiation rates and boosting 1-year and 3-year re-supply retention. - What was the financial impact of the MatrixCare divestiture?
ResMed agreed to sell MatrixCare to Frazier Healthcare Partners for 4억 9천만 달러 to exit the senior living SaaS market and focus on respiratory and sleep care. - What is happening to the Astral ventilator platform?
ResMed recorded a 4,200만 달러 cost for an Astral product safety notice and plans to sunset the 15-year-old platform with no new sales in fiscal 2027, shifting manufacturing focus to the AirCurve 11 series.
Worth a look