Corporate & Investor Presentation
Reconciliation of non-GAAP financial measures
The measures "non-GAAP gross profit" and "non-GAAP gross margin" excludes amortization expense from acquired
intangibles related to cost of sales and are reconciled below:
(Unaudited; $ in thousands, except for per share amounts)
Revenue
GAAP Cost of sales
Less: Amortization of acquired intangibles
Less: Restructuring-cost of sales (A)
Non-GAAP cost of sales
GAAP gross profit
GAAP gross margin
Non-GAAP gross profit
Non-GAAP gross margin
Three Months Ended
March 31,
2022
March 31,
2021
2022
Nine Months Ended
March 31,
March 31,
2021
$
864,500 $
$
373,303 $
(A)
(10,982)
768,767 $ 2,663,390 $ 2,320,722
321,509 $ 1,161,585 $ 972,319
(10,924)
(33,271)
(34,066)
(5,232)
$
SA
362,321 $
310,585 $ 1,128,314 $ 933,021
$
SA
$
491,197 $
56.8%
502,179 $
58.1%
447,258 $
58.2%
458,182 $
59.6%
1,501,805
56.4%
1,535,076
57.6%
$ 1,348,403
58.1%
$ 1,387,701
59.8%
Note regarding non-GAAP reconciliations
ResMed adjusts for the impact of the amortization of acquired intangibles, reserve for disputed tax positions, restructuring expenses and the (gain) loss on equity investments from their evaluation of ongoing operations, and believes that investors
benefit from adjusting these items to facilitate a more meaningful evaluation of current operating performance.
ResMed believes that non-GAAP diluted earnings per share is an additional measure of performance that investors can use to compare operating results between reporting periods. ResMed uses non-GAAP information internally in planning,
forecasting, and evaluating the results of operations in the current period and in comparing it to past periods. ResMed believes this information provides investors better insight when evaluating ResMed's performance from core operations and
provides consistent financial reporting. The use of non-GAAP measures is intended to supplement, and not to replace, the presentation of net income and other GAAP measures. Like all non-GAAP measures, non-GAAP earnings are subject to
inherent limitations because they do not include all the expenses that must be included under GAAP.
352022 ResMed | Corporate & Investor Presentation - updated 28APR22
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