--- title: "ResMed: Business Model & Revenue Engine" description: "ResMed revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained." canonical: https://www.getswoopr.com/stocks/companies/resmed/business-model/ source: "Swoopr Investment: https://www.getswoopr.com" --- # ResMed: Business Model & Revenue Engine ## Direct Answer ResMed reports revenue across 2 business segments in its fiscal 2025 Form 10-K. Sleep and Breathing Health is the largest, with $4.5 billion of revenue (88% of the total), followed by Residential Care Software at $641 million (12%). 64% of revenue came from the United States. ## How Does ResMed Make Money? Sleep and Breathing Health supplies 88% of revenue, so ResMed's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Sleep and Breathing Health grew fastest (+9.8%) and Residential Care Software slowest (+9.8%), so the revenue mix tilts toward Sleep and Breathing Health while that gap lasts. | Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | Sleep and Breathing Health | $4.5 billion | $4.1 billion | 87.5% | 9.8% | | Residential Care Software | $641 million | $584 million | 12.5% | 9.8% | ![Bar chart of ResMed revenue by segment for fiscal 2025: Sleep and Breathing Health 87.5%, Residential Care Software 12.5%.](https://www.getswoopr.com/images/charts/resmed-business-model-segment-mix.webp) *ResMed revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.* ## Which ResMed Segments Earn the Most? | Segment | FY2025 segment operating income | Segment margin | | --- | --- | --- | | Sleep and Breathing Health | $2.0 billion | 43.6% | | Residential Care Software | $205 million | 32.0% | Segment operating income is the profit measure ResMed reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within ResMed more safely than against another company. ## What Does ResMed Sell? ResMed also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business. | Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | Sleep and Breathing Health | $4.5 billion | $4.1 billion | 87.5% | 9.8% | | Residential Care Software | $641 million | $584 million | 12.5% | 9.8% | ## Where Does ResMed's Revenue Come From? Regions follow the definitions in the filing; most companies assign revenue by customer location. | Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | United States | $3.3 billion | $3.0 billion | 63.8% | 10.3% | | Rest of World | $1.9 billion | $1.7 billion | 36.2% | 9.1% | ## What the Segment Figures Do Not Show The rows above add up to 100% of ResMed's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin. ## Where These Numbers Come From Every figure on this page is a value ResMed reported in the segment note and revenue disclosures of its Form 10-K filed August 8, 2025 (accession 0000943819-25-000035), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading. Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What are ResMed's business segments? In its fiscal 2025 Form 10-K, ResMed reports revenue for Sleep and Breathing Health and Residential Care Software. ### Which part of ResMed brings in the most revenue? Sleep and Breathing Health, with $4.5 billion of revenue in fiscal 2025, or 88% of the total. ### How much of ResMed's revenue comes from outside the United States? 36% in fiscal 2025, by the geographic breakdown ResMed reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies. ## References - [SEC EDGAR: RESMED INC Form 10-K filed August 13, 2026](https://www.sec.gov/Archives/edgar/data/943819/000094381926000047/rmd-20260630.htm) - [SEC EDGAR: RESMED INC annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=943819&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) - [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets) ## Related Pages - [ResMed company dossier](https://www.getswoopr.com/stocks/companies/resmed/) - [ResMed financial metrics](https://www.getswoopr.com/stocks/companies/resmed/metrics/) - [ResMed financial risk indicators](https://www.getswoopr.com/stocks/companies/resmed/risks/) - [ResMed peer comparison](https://www.getswoopr.com/stocks/companies/resmed/competitors/) - [ResMed business model and revenue mix](https://www.getswoopr.com/stocks/companies/resmed/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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