ResMed Inc. stock research
FY2025 Q4
ResMed (RMD) Gross Margin — Quarter Ended Jun 30, 2025
Revenue was stable compared to the prior quarter and higher than the same quarter last year. Gross profit improved relative to both periods, while cost of revenue was slightly higher sequentially and moderately higher year-over-year, resulting in an improved gross margin.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q4
Revenue was stable compared to the prior quarter and higher than the same quarter last year. Gross profit improved relative to both periods, while cost of revenue was slightly higher sequentially and moderately higher year-over-year, resulting in an improved gross margin.
- Gross profit grew faster than cost of revenue, driving gross margin higher. The strongest observable driver is the expansion in gross profit relative to revenue.
- Gross margin improved compared to the immediately preceding quarter and the same quarter one year earlier. Revenue was unchanged sequentially but higher year-over-year, while cost of revenue increased at a slower pace than gross profit.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
60.8%
Gross profit
$820.1M
Revenue
$1.3B
Cost of revenue
$527.9M
Quarter-over-quarter change
+1.5 pts
Year-over-year change
+2.3 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 |
|---|---|---|---|---|
| Sep 30, 2024 | $1.2B | $717.2M | $507.3M | 58.6% |
| Dec 31, 2024 | $1.3B | $751.3M | $530.8M | 58.6% |
| Mar 31, 2025 | $1.3B | $766.4M | $525.3M | 59.3% |
| Jun 30, 2025 | $1.3B | $820.1M | $527.9M | 60.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
+1.5 pts
Year-over-year change
Jun 30, 2024
+2.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit grew faster than cost of revenue, driving gross margin higher. The strongest observable driver is the expansion in gross profit relative to revenue.
Gross margin improved compared to the immediately preceding quarter and the same quarter one year earlier. Revenue was unchanged sequentially but higher year-over-year, while cost of revenue increased at a slower pace than gross profit.
Monitor the trend in cost of revenue relative to revenue, as its slower growth supported margin improvement this quarter.