ResMed Inc. stock research
FY2023 Q3
ResMed (RMD) Gross Margin — Quarter Ended Mar 31, 2023
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin weakened slightly from the prior quarter and was lower than the same quarter a year ago.
Gross margin takeaway
Quarter ended Mar 31, 2023 · FY2023 Q3
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin weakened slightly from the prior quarter and was lower than the same quarter a year ago.
- The strongest observable driver is the relationship between revenue growth and cost of revenue growth; revenue increased more than cost of revenue in absolute terms, supporting gross profit expansion despite a lower margin rate.
- Compared to the prior quarter, gross margin was lower, while revenue and gross profit were higher. Versus the same quarter last year, gross margin was also lower, with revenue and gross profit higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
55.3%
Gross profit
$617.8M
Revenue
$1.1B
Cost of revenue
$499.1M
Quarter-over-quarter change
n/a
Year-over-year change
-1.5 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $1.1B | $617.8M | $499.1M | 55.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Previous quarter unavailable
n/a
Year-over-year change
Mar 31, 2022
-1.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable driver is the relationship between revenue growth and cost of revenue growth; revenue increased more than cost of revenue in absolute terms, supporting gross profit expansion despite a lower margin rate.
Compared to the prior quarter, gross margin was lower, while revenue and gross profit were higher. Versus the same quarter last year, gross margin was also lower, with revenue and gross profit higher.
Monitor the trend in cost of revenue relative to revenue, as its growth rate may continue to pressure gross margin.