ResMed Inc. stock research
FY2026 Q2
ResMed (RMD) Gross Margin — Quarter Ended Dec 31, 2025
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 improved relative to both periods, reflecting a stronger relationship between revenue growth and cost management.
Gross margin takeaway
Quarter ended Dec 31, 2025 · FY2026 Q2
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 improved relative to both periods, reflecting a stronger relationship between revenue growth and cost management.
- The gross margin improved sequentially and year-over-year, driven by revenue growing faster than cost of revenue. The strongest observable driver is the expansion in gross profit relative to revenue.
- Compared to the immediately preceding quarter, revenue and gross profit were higher, cost of revenue was higher, and gross margin improved. Compared to the same quarter one year earlier, revenue and gross profit were higher, cost of revenue was higher, and gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
61.8%
Gross profit
$878.7M
Revenue
$1.4B
Cost of revenue
$544.1M
Quarter-over-quarter change
+0.3 pts
Year-over-year change
+3.2 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, 2025 | $1.3B | $766.4M | $525.3M | 59.3% |
| Jun 30, 2025 | $1.3B | $820.1M | $527.9M | 60.8% |
| Sep 30, 2025 | $1.3B | $820.8M | $514.8M | 61.5% |
| Dec 31, 2025 | $1.4B | $878.7M | $544.1M | 61.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2025
+0.3 pts
Year-over-year change
Dec 31, 2024
+3.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved sequentially and year-over-year, driven by revenue growing faster than cost of revenue. The strongest observable driver is the expansion in gross profit relative to revenue.
Compared to the immediately preceding quarter, revenue and gross profit were higher, cost of revenue was higher, and gross margin improved. Compared to the same quarter one year earlier, revenue and gross profit were higher, cost of revenue was higher, and gross margin improved.
Monitor the trend in cost of revenue relative to revenue, as its increase could pressure gross margin if revenue growth slows.