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# ResMed's Marketing Push Added Nothing To Sales Last Quarter, CEO Says — 'Not Yet'
- URL: https://www.bullished.co/resmeds-marketing-push-added-nothing-to-sales-last-quarter-ceo-says-not-yet-5d489302/
- Published: 2026-10-30T05:08:07.000Z
- Updated: 2026-10-30T05:08:07.000Z
- Description: ResMed held its 5% to 7% growth outlook after a 7% quarter, and management said the midpoint remains the most likely result.
- Author: Matteo Parrino
- Tags: Earnings, RMD, Industry: Healthcare

[ResMed](https://www.bullished.co/tag/rmd/), which makes CPAP machines, masks and software for sleep apnea, got no material sales lift from its new marketing and partnership programs in the quarter, CEO Mick Farrell said on the company's earnings call Thursday. The programs are one of the assumptions behind its [5% to 7% full-year growth range](https://seekingalpha.com/news/4661084-resmed-outlines-fy-2027-5%5F75b-5%5F85b-revenue-outlook-while-targeting-1%5F85b-shareholder-returns?ref=bullished.co), which it reiterated.

## "No, Not Yet. But Watch This Space"

An RBC Capital Markets analyst asked whether the initiatives helped the top line in the quarter. Farrell answered: "as for driving material contributions in Q1, no, not yet. But watch this space."

He said 7% growth reflects strong execution of the marketing programs, while 5% is what happens "if we don't achieve the great results that our pilot trials have shown us." He added that he hopes to be back in 12 months discussing a material contribution.

The programs include a customized tile inside the Aura smart-ring app. As of September 30, Farrell said, about 28,000 Aura users had come to ResMed.com through it, more than double the figure at the end of July. Approximately 72% of those who took ResMed's sleep assessment identified as previously undiagnosed for sleep apnea. Earlier this month ResMed also announced a tie-up with Eight Sleep, the smart-mattress maker.

## Why the range stayed put

A KeyBanc analyst asked whether holding guidance after a first quarter of 7% core constant-currency growth signaled conservatism. CFO Aaron said that reiterating the range is "prudent" one quarter in, and that the most likely outcome is still the midpoint.

Marketing is one of several swing factors Aaron named. Price increases are building but are very modest, and he said there was no pricing contribution in the first quarter. Inflation is hitting both ResMed and its customers. A fleet renewal in France, which lifted rest-of-world sleep device revenue 13% in the quarter, becomes a headwind in the back half. The middle-of-funnel marketing work, he said, is "more of an H2 type of dynamic."

For the quarter, revenue was $1.4 billion, up 6% as reported and 7% on a core constant-currency basis. [Adjusted earnings per share](https://finance.yahoo.com/markets/stocks/articles/resmed-rmd-beats-q1-earnings-203505685.html?.tsrc=rss&ref=bullished.co) rose 14% to $2.91, and gross margin was 62.5%, up 50 basis points. ResMed bought back $936 million of stock and, with its dividend, returned more than $1 billion.

## Outlook numbers and the Astral exit

Guidance calls for reported revenue of $5.75 billion to $5.85 billion and adjusted earnings per share of [$12 to $12.25](https://wtop.com/national/2026/10/resmed-fiscal-q1-earnings-snapshot/?ref=bullished.co). The revenue range absorbs a headwind of roughly $75 million from ResMed's decision to stop selling its Astral ventilator; excluding it, growth would be 6.3% to 8.3%.

ResMed's annual meeting is set for November 18, 2026.

Learn

- [How To Read An Earnings Call Transcript: Start With Guidance, Then Find What's Missing →](https://www.bullished.co/learn/how-to-read-an-earnings-call/)  
How to read an earnings call transcript: check guidance first, look for dropped metrics, compare growth with last quarter, and watch hedged wording.

### Sources

- [ResMed (RMD) Beats Q1 Earnings and Revenue Estimates](https://finance.yahoo.com/markets/stocks/articles/resmed-rmd-beats-q1-earnings-203505685.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance
- [ResMed: Fiscal Q1 Earnings Snapshot – WTOP News](https://wtop.com/national/2026/10/resmed-fiscal-q1-earnings-snapshot/?ref=bullished.co) — wtop.com
- [ResMed outlines FY 2027 $5.75B-$5.85B revenue outlook while targeting $1.85B+ shareholder returns (NYSE:RMD) | Seeking Alpha](https://seekingalpha.com/news/4661084-resmed-outlines-fy-2027-5%5F75b-5%5F85b-revenue-outlook-while-targeting-1%5F85b-shareholder-returns?ref=bullished.co) — seekingalpha.com
- [ResMed Non-GAAP EPS of $2.91 beats by $0.24, revenue of $1.4B beats by $10M (RMD:NYSE) | Seeking Alpha](https://seekingalpha.com/news/4660774-resmed-non-gaap-eps-of-2%5F91-beats-by-0%5F24-revenue-of-1%5F4b-beats-by-10m?ref=bullished.co) — seekingalpha.com
- [If You Invested $1000 In ResMed Stock 20 Years Ago, You Would Have This Much Today](https://www.benzinga.com/news/26/10/62681363/if-you-invested-1000-resmed-stock-20-years-ago-you-would-have-much-today?ref=bullished.co) — benzinga.com

### More on ResMed

- [ResMed Buys Back $936 Million Of Stock In One Quarter, Holds Its Full-Year Outlook](https://www.bullished.co/resmed-buys-back-936-million-of-stock-in-one-quarter-holds-its-full-year-outlook-d4973ec4/)

[All ResMed (RMD) coverage →](https://www.bullished.co/tag/rmd/)