Masimo announces preliminary 2023 financial results

Masimo Corporation announced select preliminary financial results for the fourth quarter and full-year ended December 30, 2023 and provided estimates for its full-year 2024 guidance.

Preliminary fourth quarter 2023 financial results:

• Consolidated revenue of $541 million to $551 million;
• Healthcare revenue of $336 million to $341 million; and
• Non-healthcare revenue of $205 million to $210 million

Preliminary full-year 2023 financial results:

• Consolidated revenue of $2,041 million to $2,051 million;
• Healthcare revenue of $1,272 million to $1,277 million; and
• Non-healthcare revenue of $769 million to $774 million.

The preliminary financial information presented in this press release is based on Masimo’s current expectations and may be adjusted as a result of, among other things, completion of customary annual audit procedures. Management plans to discuss Masimo’s complete fourth quarter and full-year 2023 financial results after the market closes on Tuesday, February 27, 2024.

Full-year 2024 guidance:

• Consolidated revenue of $2,045 million to $2,165 million;
• Healthcare revenue of $1,345 million to $1,385 million;
• Non-healthcare revenue of $700 million to $780 million;
• GAAP earnings per diluted share of $1.91 to $2.08;
• Non-GAAP earnings per diluted share of $3.00 to $3.15 (prior definition); and
• Non-GAAP earnings per diluted share of $3.44 to $3.60 (updated definition).

Effective fiscal year 2024, we are updating our non-GAAP financial measures to exclude the impact of all expenses related to our litigation against Apple. Masimo had previously only excluded the expenses related to the U.S. International Trade Commission litigation against Apple. Masimo believes all of the Apple litigation expenses are unique in nature and not indicative of the Company’s on-going operating performance and is therefore excluding them from its non-GAAP financial measures. The Company has included a reconciliation of its non-GAAP financial measures under both the updated and prior definitions to assist investors in making comparisons of period-to-period operating results.
MB Bureau