ResMed Inc (NYSE: RMD) shares closed at $257.41, down 0.12% on the day. The stock moved lower following the release of the company’s second-quarter fiscal 2026 financial results, which outlined quarterly performance, segment-level revenue, and updated operational disclosures.
Market capitalization
ResMed’s market capitalization stood at approximately $37.6 billion at the end of the Jan. 29 trading session, based on the company’s closing share price and outstanding equity.
Latest quarterly results (Q2 FY26)
For the quarter ended Dec. 31, 2025, ResMed reported consolidated revenue of $1,422.8 million. Net income attributable to shareholders was $392.6 million. Revenue increased 11% year over year, or 9% on a constant-currency basis, while net income rose 14% from the corresponding quarter a year earlier.
Segment revenue for the quarter was reported as follows. Devices revenue totaled $726.2 million, reflecting a 9% year-over-year increase. Masks and other accessories generated revenue of $529.7 million, up 16% year over year. Residential Care Software revenue reached $166.9 million, representing a 7% year-over-year increase.
Financial trends
Two charts below summarize operating performance and recent share price movements. The visuals are provided for reference and align with reported financial disclosures.
Business & operations update
During the quarter, ResMed reported improvements in manufacturing efficiency, logistics execution, and component cost management. These factors contributed to an increase in gross margin compared with prior periods. The company also highlighted continued expansion of its connected-care ecosystem, with growth in the number of cloud-connected devices and digital health users.
ResMed reported regulatory clearance in China for the AirSense 11 platform during the quarter. The company also disclosed product introductions within its mask portfolio, including new fabric-based designs. In the United States, the company received regulatory clearance for an AI-enabled sleep apnea-related device, which was added to its existing product lineup.
M&A or strategic moves
ResMed reiterated that it continues to pursue selective acquisitions, primarily focused on digital health and out-of-hospital care. The company referenced contributions from recent acquisitions, including VirtuOx, during the quarter. ResMed stated that it generally evaluates transactions with deal sizes of up to approximately $500 million, depending on strategic alignment and financial criteria.
The company also reported capital return activity during the quarter. Share repurchases totaled $175 million in Q2 FY26, and management reiterated plans for more than $600 million in repurchases across the full fiscal year.
Equity analyst commentary
Market participants are expected to review the earnings call transcript, regulatory filings and subsequent research publications for further institutional perspectives.
Guidance & outlook — what to watch for
In its materials, ResMed reiterated key financial framework disclosures for fiscal 2026. These included non-GAAP gross margin expectations in the range of approximately 62% to 63%, selling, general and administrative expenses of around 19% to 20% of revenue, research and development expenses of approximately 6% to 7% of revenue, and a non-GAAP effective tax rate in the low‑20% range.
The company also highlighted capital allocation priorities, including continued investment in product development, digital health capabilities, and shareholder returns through planned repurchases.
Performance summary
ResMed shares ended the session down 0.12%. Q2 FY26 revenue was reported at $1.42 billion, with net income of $392.6 million. Revenue growth was recorded across devices, masks, and software segments. Operational updates focused on margins, regulatory approvals, and capital return activity.