RMD · 8-K · 20260806PR337962

Gross Margin Drivers

RESMED INC · 2026-08-06 · Importance 39 · Surprise 50

Fourth-quarter GAAP gross margin declined 200 basis points to 58.8% from 60.8%, primarily because of $41.885 million in Astral field safety notification expenses. Fourth-quarter non-GAAP gross margin increased 90 basis points to 62.3%, predominantly due to productivity pipeline execution. Fiscal-year GAAP gross margin increased 170 basis points to 61.1%, while non-GAAP gross margin increased 240 basis points to 62.4%. The Astral field safety notification expenses reduced fourth-quarter and fiscal-year GAAP gross profit by $41.885 million.

Key facts

• Three months ended June 30, 2026 cost of sales: $602,431 thousand; gross profit $861,216 thousand source
• Non-GAAP gross margin increase was predominantly from productivity pipeline execution; primary difference is $42 million Astral field safety notification expenses source
• FY 2026 GAAP gross margin was 61.1%, up 170 basis points source
• FY 2026 non-GAAP gross margin was 62.4%, up 240 basis points source
• Q4 gross margin (GAAP) was 58.8% and Q4 non-GAAP gross margin was 62.3%, an increase of 90 basis points year-over-year source