Resmed

Q4 FY2026 EarningsFY26 results slightly beat consensus across most non-GAAP metrics, with revenue of $5,653M vs. $5,648M expected and non-GAAP gross margin reaching 62.4% vs. 62.3% expected. Sleep and Breathing Health revenue grew 10% YoY (+9% CC), driven by strong demand for the AirSense 11 platform, while Residential Care Software growth lagged at 5% YoY. Normalized EPS of $11.17 exceeded the $11.08 consensus, supported by $705M in share repurchases and a lower-than-expected tax rate of 20.6%. The strategic $490M divestiture of MatrixCare and $335M acquisition of Noctrix underscore a pivot toward high-growth sleep health adjacencies.