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)
0000
Three Months Ended
Six Months Ended
December 31,
2021
December 31,
2020
December 31, December 31,
2021
2020
Revenue
$
894,874
$
800,011
$ 1,798,890 $ 1,551,955
GAAP Cost of sales
$
Less: Amortization of acquired intangibles
Less: Restructuring - cost of sales
390,556
(11,231)
$
337,528
(11,164)
$ 788,282
(22,289)
$
650,811
(23,143)
(5,232)
(5,232)
Non-GAAP cost of sales
$
379,325 $
321,132
$
765,993 $
622,436
GAAP gross profit
GAAP gross margin
Non-GAAP gross profit
$
504,318
$
56.4 %
462,483
57.8 %
$ 1,010,608 $
56.2 %
901,144
58.1 %
SA
$
515,549
$
Non-GAAP gross margin
57.6 %
478,879
59.9 %
$ 1,032,897 $
57.4 %
929,519
59.9 %
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.
35 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22
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