RMD - ResMed Inc. (RMD) Q2 2024 Earnings Call Transcript
2024-01-24 22:56:04 ET
ResMed Inc. (RMD)
Q2 2024 Earnings Conference Call
January 24, 2024 04:30 PM ET
Company Participants
Amy Wakeham - Chief Communications and Investor Relations Officer
Michael Farrell - Chief Executive Officer
Brett Sandercock - Chief Financial Officer
Conference Call Participants
Margaret Andrew - William Blair & Co. LLC
Anthony Petrone - Mizuho Securities USA LLC
Michael Matson - Needham & Company, LLC
Suraj Kalia - Oppenheimer & Co. Inc.
Steven Wheen - Jarden
Saul Hadassin - Barrenjoey Capital
Mathieu Chevrier - Citi
Matt Taylor - Jefferies
Lyanne Harrison - Bank of America Merrill Lynch
Michael Polark - Wolfe Research
Presentation
Operator
Hello, and welcome to the ResMed Second Quarter Fiscal Year 2024 Earnings Conference Call and Webcast. [Operator Instructions] A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It's now my pleasure to turn the call over to Chief Investor Relations Officer, Amy Wakeham. Please go ahead, Amy.
Amy Wakeham
Great. Thank you, Kevin. Hi, everyone, and welcome to ResMed's second quarter earnings call for fiscal year 2024. We are live webcasting this call and the replay will be available on the Investor Relations section of our corporate website later today along with a copy of the earnings press release and presentation, both of these are now available.
During today's call, we will discuss several non-GAAP measures that we believe provide useful information for investors. This information is non-intended to be considered in isolation or as a substitute for the GAAP financial information. We encourage you to review the supporting schedules in today's earnings press release for a reconciliation of these non-GAAP measures to the GAAP reported numbers.
In addition to our discussion today, it will include forward-looking statements, including, but not limited to, expectations about our future financial and operating performance. We make these statements based on reasonable assumptions. However, our actual results could differ. Please review our SEC filings for a complete discussion of the risk factors that could cause our actual results to differ materially from any forward-looking statements made today.
I'll now turn our call over to ResMed's CEO, Mick Farrell.
Michael Farrell
Thanks, Amy, and thank you to all of our shareholders for joining us today. Our second quarter fiscal year 2024 results reflect strong execution across our entire business, driving double-digit top and bottom line growth. These results are a testament to the incredible efforts of the global ResMed team.
Our results were driven by double-digit global growth in both devices and our Software-as-a-Service business together with high single-digit global growth in our masks and accessories business, holding our leading market share amongst high comps from the same quarter a year ago. In terms of bottom line leverage, our reorganization efforts and efficiency efforts in the quarter have set us on a clear trajectory of profitable growth....
ResMed Inc. (RMD) Q2 2024 Earnings Call Transcript