Masimo reports Q4 and full-year 2023 financial results

Masimo announced its financial results for the fourth quarter and full-year ended December 30, 2023.

Fourth quarter 2023 results:
Consolidated revenue was $548.9 million, comprised of healthcare revenue of $339.9 million and non-healthcare revenue of $209.0 million.

Excluding handheld and fingertip pulse oximeters, shipments of noninvasive technology boards and instruments were 58,500.

Consolidated GAAP operating income was $44.1 million. Consolidated non-GAAP operating income (prior definition) was $78.6 million. Consolidated non-GAAP operating income (updated definition) was $91.7 million. Consolidated GAAP net income was $34.0 million, or $0.63 per diluted share. Consolidated non-GAAP net income (prior definition) was $56.9 million, or $1.06 per diluted share, and consolidated non-GAAP net income (updated definition) was $66.9 million, or $1.25 per diluted share.

Full-year 2023 results:
Consolidated revenue was $2,048.1 million, consisting of healthcare revenue of $1,275.5 million and non-healthcare revenue of $772.6 million.

Excluding handheld and fingertip pulse oximeters, shipments of noninvasive technology boards and instruments were 263,000.

Consolidated GAAP operating income was $136.5 million. Consolidated non-GAAP operating income (prior definition) was $269.6 million. Consolidated non-GAAP operating income (updated definition) was $313.0 million. Consolidated GAAP net income was $81.5 million, or $1.51 per diluted share. Consolidated non-GAAP net income (prior definition) was $171.6 million, or $3.17 per diluted share, while consolidated non-GAAP net income (updated definition) was $204.8 million, or $3.79 per diluted share.

Joe Kiani, Chairman and Chief Executive Officer of Masimo, said, “We exited 2023 with growing momentum driven by record contract wins for the year in our healthcare business, important FDA clearances for innovative new products and strong growth in our hearables business. Our ability to translate our core technologies into products that deliver better outcomes for consumers, patients, and providers continues to be the engine for our long-term growth across all our businesses. With stabilization of hospital census and operations post pandemic, our healthy contract backlog and our cutting-edge innovations in growing markets, Masimo is well-positioned for 2024.”
MB Bureau