Cover and table of contents

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Cover and table of contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549


FORM 10-Q


(Mark One)

xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2024

oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______to _______

Commission File Number: 001-15317


ResMed Inc.

(Exact name of registrant as specified in its charter)


Delaware

(State or other jurisdiction of incorporation or organization)

98-0152841

(I.R.S. Employer Identification No.)

9001 Spectrum Center Blvd.

San Diego, CA 92123

United States of America

(Address of principal executive offices, including zip code)

(858) 836-5000

(Registrant’s telephone number, including area code)


Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.004 per shareRMDNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated FilerxAccelerated Filero
Non-Accelerated FileroSmaller Reporting Companyo
Emerging Growth Companyo

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x

At April 22, 2024 there were 146,907,207 shares of Common Stock ($0.004 par value) outstanding. This number excludes 42,432,422 shares held by the registrant as treasury shares.

RESMED INC. AND SUBSIDIARIES

INDEX

Part IFinancial Information3
Item 1Financial Statements3
Condensed Consolidated Balance Sheets (Unaudited)3
Condensed Consolidated Statements of Operations (Unaudited)4
Condensed Consolidated Statements of Comprehensive Income (Unaudited)5
Condensed Consolidated Statements of Changes in Equity (Unaudited)6
Condensed Consolidated Statements of Cash Flows (Unaudited)8
Notes to the Condensed Consolidated Financial Statements (Unaudited)9
Item 2Management’s Discussion and Analysis of Financial Condition and Results of Operations24
Item 3Quantitative and Qualitative Disclosures About Market Risk36
Item 4Controls and Procedures39
Part IIOther Information40
Item 1Legal Proceedings40
Item 1ARisk Factors40
Item 2Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities40
Item 3Defaults Upon Senior Securities40
Item 4Mine Safety Disclosures40
Item 5Other Information40
Item 6Exhibits42
Signatures43
PART I – FINANCIAL INFORMATIONItem 1

Next: Item 1. Financial Statements