ResMed Inc. announced result for its second quarter ended on 31 December 2022

ResMed Inc. (ASX: RMD) announced results for its second quarter ended on 31 December 2022:

During 2QFY23, the company’s revenue increased by 20% on a constant currency basis, driven by increased demand for sleep and respiratory care devices and reduced competitive supply.

• Gross margin fell by 30 basis points, and non-GAAP gross margin declined by 80 basis points, primarily due to unfavorable product mix and foreign currency actions, partially offset by an increase in average selling prices.
• The company’s Net income for 2QFY23 was AU$224.9 million, and diluted earnings per share was AU$1.53, mainly attributable to strong sales, partially offset by higher operating expenses.
• During the quarter, operating cash flow was AU$128.6 million, indicating the effect of increases in working capital.
• In 2QFY23, ResMed Inc. acquired MEDIFOX DAN; similar to the solutions of the company’s leading U.S. SaaS brands, Brightree and MatrixCare, MEDIFOX DAN expands ResMed’s out-of-hospital SaaS business into new health sectors and builds on its established healthcare business in Germany.

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