Ann: ResMed Announces Results for the First Quarter of FY2024, page-62

Hi Everton,

We'll see improvements in their business margins once they up the percentages in their geography mix, particularly in the Europe, Asia, and other regions.

Q1 FY23 - 28%
Q1 FY24 - 29%

We should also see improvements in margins with product mix particularly in their masks segments and their software solutions. Lot of room for growth in these segments. Just look at the year-over-year growth in the SaaS segment! This is a big part of the company's growth strategy. This business is already complementing their market-leading software and device solutions and will add significantly to their bottom line.

Scaling up AirSense 11 platform production during fiscal year is going to be an important transition. This is not only about adding clients into the big existing funnel (which has already been huge), but doing so in a top of line patient care in a long-term sustainable economic way which will pay off long term for patients as well as all stakeholders. There are a lot of moving parts in this business and one that I feel the company is managing extrordinarily well.

Tony