Third Quarter 2024 Highlights:
- Healthcare revenue of $343.3 million increased 11.5% on a
reported basis and 11.7% on a constant currency basis(1);
- GAAP net income per diluted share was $0.18; and
- Non-GAAP(1) net income per diluted share was $0.98.
Masimo Corporation (Nasdaq: MASI) today announced its financial
results for the third quarter ended September 28, 2024.
Third Quarter 2024 Results
Consolidated revenue was $504.6 million, comprised of healthcare
revenue of $343.3 million and non-healthcare revenue of $161.3
million. Shipments of noninvasive technology boards and instruments
were 60,500. GAAP operating income was $30.1 million and
non-GAAP(1) operating income was $80.8 million. GAAP net income was
$9.8 million, or $0.18 per diluted share. Non-GAAP(1) net income
was $52.9 million, or $0.98 per diluted share.
Michelle Brennan, Interim Chief Executive Officer of Masimo,
said, “We are pleased to report strong third quarter performance,
driven by our core healthcare segment. We appreciate the commitment
and energy of our employees, which has resulted in a seamless
transition since our Annual Meeting with no disruption to our
business or departures of critical talent. Our focus is on
positioning Masimo to achieve its significant long-term growth
potential by capitalizing on the many opportunities we see ahead of
us, including through our ongoing review of the product portfolio
and R&D projects. We are allocating resources to fewer
projects, concentrating on sizable market opportunities that
address clear unmet needs, and reducing spending in areas that are
not contributing to our long-term growth objectives. We are also
progressing on our strategic review of the consumer business and
are focused on delivering the best outcome for our shareholders. We
are confident in our position as we approach the end of 2024, as
demonstrated by our increased full-year non-GAAP operating margin
and EPS guidance. With the support of our talented team and our
newly expanded Board, we will continue to execute on our strategy
while enhancing shareholder value as we look to next year and
beyond.”
2024 Financial Guidance
The Company provided the following non-GAAP(2) estimates for its
fourth quarter 2024 and updated full-year 2024 guidance:
(in millions, except earnings per
diluted share)
Q4 2024
Guidance(3)
FY 2024
Updated Guidance(3)
FY 2024
Prior Guidance(4)
Consolidated revenue
$581 to $611
$2,075 to $2,105
$2,085 to $2,135
Healthcare revenue
$363 to $373
$1,390 to $1,400
$1,385 to $1,405
Non-healthcare revenue
$218 to $238
$685 to $705
$700 to $730
Non-GAAP(2) operating income
$103 to $114
$325 to $336
$317 to $330
Non-GAAP(2) earnings per diluted share
$1.35 to $1.50
$3.95 to $4.10
$3.80 to $4.00
____________________________
(1)
Represents a non-GAAP financial measure
for which a reconciliation to the most directly comparable GAAP
financial measure is included in this press release.
(2)
Financial guidance includes
forward-looking non-GAAP financial measures for which
reconciliations to the most directly comparable GAAP financial
measures are not available without unreasonable efforts. See
“Forward-Looking Non-GAAP Financial Measures” below, which
identifies the information that is unavailable without unreasonable
efforts and provides additional information. It is probable that
forward-looking non-GAAP financial measures may be materially
different from the corresponding GAAP financial measures.
(3)
Guidance provided November 5, 2024.
(4)
Guidance provided August 6, 2024.
Conference Call
The Company will conduct its third quarter 2024 investor
conference call today, November 5, 2024 at 4:30 p.m. Eastern Time.
To register for the conference call and receive the dial-in number,
please use the following link:
https://registrations.events/direct/Q4I40728936. A replay of the
webcast and conference call will be available shortly after the
conclusion of the call and will be archived on the Company’s
website.
Website Information
To access important information relating to Masimo’s third
quarter 2024 investor conference call, including the audio webcast
and investor presentation, please visit the Investor Relations
section of Masimo’s website at https://investor.masimo.com.
Non-GAAP Financial Measures
The non-GAAP financial measures contained herein are a
supplement to the corresponding financial measures prepared in
accordance with U.S. GAAP. The non-GAAP financial measures
presented exclude the items described below. Management believes
that adjustments for these items assist investors in making
comparisons of period-to-period operating results. Furthermore,
management also believes that these items are not indicative of the
Company’s on-going operating performance. These non-GAAP financial
measures have certain limitations in that they do not reflect all
of the costs associated with the operations of the Company’s
business as determined in accordance with GAAP.
Therefore, investors should consider non-GAAP financial measures
in addition to, and not as a substitute for, or as superior to,
measures of financial performance prepared in accordance with GAAP.
The non-GAAP financial measures presented by the Company may be
different from the non-GAAP financial measures used by other
companies.
The Company has presented the following non-GAAP measures to
assist investors in understanding the Company’s net operating
results on an on-going basis: (i) constant currency revenue growth
percentage, (ii) non-GAAP net income (prior definition and updated
definition), (iii) non-GAAP (net income) earnings per diluted share
(prior definition and updated definition) and (iv) non-GAAP
operating income/margin (prior definition and updated definition).
These non-GAAP financial measures may also assist investors in
making comparisons of the Company’s operating results with those of
other companies. Management believes constant currency revenue
growth, non-GAAP operating income/margin, non-GAAP net income and
non-GAAP earnings per diluted share are important measures in the
evaluation of the Company’s performance and uses these measures to
better understand and evaluate our business.
The non-GAAP financial measures reflect adjustments for the
following items:
Constant currency revenue
adjustments
Some of our sales agreements with foreign customers provide for
payment in currencies other than the U.S. Dollar. These foreign
currency revenues, when converted into U.S. Dollars, can vary
significantly from period-to-period depending on the average and
quarter-end exchange rates during a respective period. We believe
that comparing these foreign currency denominated revenues by
holding the exchange rates constant with the prior year period is
useful to management and investors in evaluating our revenue growth
rates on a period-to-period basis. We anticipate that fluctuations
in foreign exchange rates and the related constant currency
adjustments for calculation of our revenue growth rate will
continue to occur in future periods.
Acquired tangible asset
amortization
These transactions represent amortization expense in connection
with business or assets acquisitions associated with acquired
tangible assets and asset valuation step-ups.
Business transition and related
costs
These transactions represent gains, losses, and other related
costs associated with business transition plans. These items may
include but are not limited to severance, relocation, consulting,
leasehold exit costs, asset impairment, and other related costs to
rationalize our operational footprint and optimize business
results.
Acquired intangible asset
amortization
These transactions represent amortization expense in connection
with business or assets acquisitions associated with acquired
intangible assets including, but not limited to customer
relationships, intellectual property, trade names and
non-competition agreements.
Acquisitions, integrations,
divestitures, and related costs
These transactions represent gains, losses, and other related
costs associated with acquisitions, integrations, investments,
divestitures, assets impairments, and in-process research and
development.
Litigation related expenses and
settlements (prior definition)
These transactions represent gains, losses, and other related
costs associated with certain litigation matters, which can vary in
their characteristics, frequency and significance to our operating
results.
Litigation related expenses and
settlements (updated definition)
We have been engaged in various legal proceedings against Apple
since January 2020, including various proceedings in the federal
courts, various proceedings in the U.S. Patent and Trademark Office
(the “PTO proceedings”), and a proceeding in the U.S. International
Trade Commission (the “ITC proceeding”). Although we previously
excluded only expenses relating to the ITC proceeding from the
definition of “Litigation related expenses and settlements”,
beginning with the first quarter of 2024, we have revised the
definition of “Litigation related expenses and settlements” to
exclude not only expenses relating to the ITC proceeding, but also
all other Apple litigation expenses, including those relating to
the federal court proceedings and the PTO proceedings. We believe
all of the Apple litigation expenses are unique in nature and not
indicative of the Company’s on-going operating performance, and
this updated definition will provide more useful information to
investors by facilitating period-to-period comparisons of our
financial performance that otherwise may be obscured by the
significant fluctuations in Apple-related litigation expenses.
Other adjustments
In the event there are gains, losses and other adjustments which
impact period-to-period comparability and do not represent the
underlying ongoing results of the business, the Company may choose
to exclude these from non-GAAP earnings.
Realized and unrealized gains or
losses
These transactions represent gains, losses, and other related
costs associated with foreign currency denominated transactions and
investments. Changes in the underlying currency rates relative to
the U.S. Dollar may result in realized and unrealized foreign
currency gains and losses between the time these receivables and
payables arise and the time that they are settled in cash.
Unrealized and realized gains and losses on investments may impact
the Company’s reported results of operations for a period. These
items are highly variable, difficult to predict and outside the
control of those responsible for the underlying operations of the
business. Other items also included here are mark-to-market gains
and losses of derivative contracts that are not designated as
hedging instruments or the ineffective portions of cash flow
hedges.
Financing related
adjustments
The Company may enter into various financial arrangements
whereby costs are incurred and certain instrument features are
valued and expensed accordingly but are not necessarily indicative
of the on-going cash flow generation of the Company and therefore
excludes these costs from non-GAAP earnings. For GAAP earnings per
diluted share purposes, the Company cannot reflect the
anti-dilutive impact, if applicable, in its diluted shares
calculations. However, the Company believes that reflecting the
anti-dilutive impact of these instruments in non-GAAP earnings per
diluted share provides management and investors with useful
information in evaluating the financial performance of the Company
on a per share basis.
Tax impact of non-GAAP
adjustments
In order to reflect the tax effected impact of the non-GAAP
adjustments, the Company will adjust the non-GAAP earnings by the
approximate tax impact of these adjustments.
Excess tax benefits from stock-based
compensation expense
GAAP requires that excess tax benefits recognized on stock-based
compensation expense be reflected in our provision for income taxes
rather than paid-in capital. As these excess tax benefits may be
highly variable from period-to-period, the Company may choose to
exclude these tax benefits from non-GAAP earnings to facilitate
comparability between periods and with peers.
Forward-Looking Non-GAAP Financial Measures
This presentation also includes certain forward-looking non-GAAP
financial measures. We calculate forward-looking non-GAAP financial
measures based on internal forecasts that omit certain amounts that
would be included in GAAP financial measures. For instance, we
exclude the impact of certain charges related to acquisitions,
integrations, divestitures and related costs; business transition
and related costs; litigation related expenses and settlements;
realized and unrealized gains or losses; tax related adjustments;
and other adjustments. We have not provided quantitative
reconciliations of these forward-looking non-GAAP financial
measures to the most directly comparable forward-looking GAAP
financial measures because the excluded items are not available on
a prospective basis without unreasonable efforts. For example, the
timing of certain transactions is difficult to predict because
management's plans may change. In addition, the Company believes
such reconciliations would imply a degree of precision and
certainty that could be confusing to investors. It is probable that
these forward-looking non-GAAP financial measures may be materially
different from the corresponding GAAP financial measures.
Forward-Looking Statements
All statements other than statements of historical facts
included in this press release that address activities, events or
developments that we expect, believe or anticipate will or may
occur in the future are forward-looking statements including, in
particular, the statements about our expectations regarding our
fourth-quarter 2024 and updated full-year 2024 financial guidance,
including GAAP and non-GAAP consolidated revenue, healthcare
revenue, non-healthcare revenue, consolidated operating income and
consolidated earnings per diluted share. These forward-looking
statements are based on management’s current expectations and
beliefs and are subject to uncertainties and factors, all of which
are difficult to predict and many of which are beyond our control
and could cause actual results to differ materially and adversely
from those described in the forward-looking statements. These risks
include, but are not limited to, those related to: our dependence
on Masimo SET® and Masimo rainbow SET™ products and technologies
for substantially all of our revenue; any failure in protecting our
intellectual property exposure to competitors’ assertions of
intellectual property claims; the highly competitive nature of the
markets in which we sell our products and technologies; any failure
to continue developing innovative products and technologies; our
ability to successfully integrate Sound United’s brands into our
business; our ability to address and expand into new markets; the
lack of acceptance of any of our current or future products and
technologies; obtaining regulatory approval of our current and
future products and technologies; the risk that the implementation
of our international realignment will not continue to produce
anticipated operational and financial benefits, including a
continued lower effective tax rate; the loss of our customers; the
failure to retain and recruit senior management; matters relating
to future board and management leadership; product liability claims
exposure; a failure to obtain expected returns from the amount of
intangible assets we have recorded; the maintenance of our brand;
the amount and type of equity awards that we may grant to employees
and service providers in the future; our ongoing litigation and
related matters; the ability to effect any potential separation of
our consumer business described above and to meet any of the
conditions related thereto; the approval of any such potential
separation by Masimo’s board of directors; the ability of any
separated businesses to be successful; potential uncertainty during
the pendency of any such potential separation that could affect
Masimo’s financial performance; the possibility that any potential
separation will not be completed within the anticipated time period
or at all; the possibility that any such potential separation will
not achieve its intended benefits; the possibility of disruption,
including changes to existing business relationships, disputes,
litigation or unanticipated costs in connection with any such
potential separation; the impact on our employees; the uncertainty
of the expected financial performance of Masimo prior to and
following completion of any such potential separation; negative
effects of the announcement or pendency of any such potential
separation on the market price of Masimo’s securities and/or on the
financial performance of Masimo; evolving legal, regulatory and tax
regimes; changes in general economic and/or industry specific
conditions; actions by third parties, including government
agencies; and other factors discussed in the “Risk Factors” section
of our most recent periodic reports filed with the Securities and
Exchange Commission (“SEC”), including our most recent Form 10-K
and Form 10-Q, all of which you may obtain for free on the SEC’s
website at www.sec.gov. Although we
believe that the expectations reflected in our forward-looking
statements are reasonable, we do not know whether our expectations
will prove correct. You are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date hereof, even if subsequently made available by us on our
website or otherwise. We do not undertake any obligation to update,
amend or clarify these forward-looking statements, whether as a
result of new information, future events or otherwise, except as
may be required under applicable securities laws.
RECONCILIATION OF HEALTHCARE GAAP TO NON-GAAP CONSTANT
CURRENCY REVENUE(1):
(in millions, except
percentages)
September 28,
2024
September 30,
2023
GAAP healthcare revenue
$
343.3
$
307.8
Constant currency revenue adjustments
0.6
N/A
Non-GAAP healthcare constant currency
revenue
$
343.9
$
307.8
GAAP healthcare revenue growth %
11.5
%
Non-GAAP healthcare constant currency
revenue growth %
11.7
%
_______________
(1) May not foot due to
rounding.
RECONCILIATION OF GAAP TO NON-GAAP CONSOLIDATED OPERATING
INCOME(1):
Three Months Ended
(in millions)
September 28,
2024
September 30,
2023
GAAP operating income
$
30.1
$
25.2
Non-GAAP adjustments:
Acquired tangible asset amortization
0.8
0.9
Acquired intangible asset amortization
9.2
9.4
Acquisitions, integrations, divestitures,
and related costs
4.6
10.6
Business transition and related costs
(0.5
)
4.2
Litigation related expenses, settlements
and awards
30.4
6.0
Other adjustments
(1.9
)
0.5
Total non-GAAP adjustments
42.7
31.5
Non-GAAP operating income (prior
definition)
$
72.8
$
56.9
Litigation related expenses and
settlements
8.0
8.9
Non-GAAP operating income (updated
definition)
$
80.8
$
65.9
_____________________
(1) May not foot due to rounding.
RECONCILIATION OF GAAP TO
NON-GAAP NET INCOME AND NET INCOME PER DILUTED SHARE(1):
Three Months Ended
September 28,
2024
September 30,
2023
(in millions, except per diluted share
amounts)
$
Per Diluted Share
$
Per Diluted Share
GAAP net income
$
9.8
$
0.18
$
10.6
$
0.20
Non-GAAP adjustments:
Acquired tangible asset amortization
0.8
0.01
0.9
0.02
Acquired intangible asset amortization
9.2
0.17
9.4
0.18
Acquisitions, integrations, divestitures,
and related costs
4.6
0.09
10.6
0.20
Business transition and related costs
(0.5
)
(0.01
)
4.2
0.08
Litigation related expenses, settlements
and awards
30.4
0.56
6.0
0.11
Other adjustments
(1.9
)
(0.03
)
0.5
0.01
Realized and unrealized gains or
losses
9.2
0.17
(1.0
)
(0.02
)
Financing related adjustments
0.5
0.01
0.5
0.01
Tax impact of non-GAAP adjustments
(13.8
)
(0.25
)
(8.0
)
(0.15
)
Excess tax benefits from stock-based
compensation expense
(1.6
)
(0.03
)
(0.2
)
—
Total non-GAAP adjustments
37.1
0.68
22.9
0.42
Non-GAAP net income (prior definition)
$
46.8
$
0.86
$
33.7
$
0.63
Litigation related expenses and
settlements
8.0
0.15
8.9
0.17
Tax impact of non-GAAP adjustments
(1.9
)
(0.04
)
(2.1
)
(0.04
)
Non-GAAP net income (updated
definition)
$
52.9
$
0.98
$
40.5
$
0.75
Weighted average shares
outstanding-diluted
54.3
53.9
_____________________
(1) May not foot due to rounding.
MASIMO CORPORATION
CONDENSED CONSOLIDATED BALANCE
SHEETS
(unaudited, in
millions)
September 28,
2024
December 30,
2023
ASSETS
Current assets
Cash and cash equivalents
$
158.5
$
163.0
Accounts receivable, net of allowance for
credit losses
371.0
355.5
Inventories
569.9
545.0
Other current assets
180.5
168.4
Total current assets
1,279.9
1,231.9
Lease receivable, non-current
64.2
71.4
Deferred costs and other contract
assets
59.6
57.3
Property and equipment, net
417.9
424.4
Customer relationships, net
169.0
177.7
Acquired technologies, net
115.3
129.4
Other intangible assets, net
120.9
112.8
Trademarks
235.6
232.4
Goodwill
412.5
407.7
Deferred tax assets
107.1
107.2
Other non-current assets
105.8
89.3
Total assets
$
3,087.8
$
3,041.5
LIABILITIES AND STOCKHOLDERS’
EQUITY
Current liabilities
Accounts payable
$
280.8
$
251.5
Accrued compensation
76.0
62.6
Deferred revenue and other contract
liabilities, current
84.5
87.3
Other current liabilities
196.3
162.4
Total current liabilities
637.6
563.8
Long-term debt
733.2
871.7
Deferred tax liabilities
111.3
111.7
Other non-current liabilities
142.5
129.5
Total liabilities
1,624.6
1,676.7
Commitments and contingencies
Stockholders’ equity
Common stock
0.1
0.1
Treasury stock
(1,169.2
)
(1,169.2
)
Additional paid-in capital
828.4
783.4
Accumulated other comprehensive loss
(36.6
)
(45.3
)
Retained earnings
1,840.5
1,795.8
Total stockholders’ equity
1,463.2
1,364.8
Total liabilities and stockholders’
equity
$
3,087.8
$
3,041.5
MASIMO CORPORATION
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS
(unaudited, in millions,
except per share amounts)
Three Months Ended
Nine Months Ended
September 28,
2024
September 30,
2023
September 28,
2024
September 30,
2023
Revenue
$
504.6
$
478.9
$
1,493.7
$
1,499.2
Cost of goods sold
241.4
244.1
734.0
758.4
Gross profit
263.2
234.8
759.7
740.8
Operating expenses:
Selling, general and administrative
184.8
156.1
522.2
504.1
Research and development
48.3
46.5
145.1
137.2
Impairment charge
—
7.0
—
7.0
Total operating expenses
233.1
209.6
667.3
648.3
Operating income
30.1
25.2
92.4
92.5
Non-operating loss
(18.5
)
(11.2
)
(36.0
)
(27.5
)
Income before provision for income
taxes
11.6
14.0
56.4
65.0
Provision for income taxes
1.8
3.4
11.7
17.4
Net income
$
9.8
$
10.6
$
44.7
$
47.6
Net income per share:
Basic
$
0.18
$
0.20
$
0.84
$
0.90
Diluted
$
0.18
$
0.20
$
0.82
$
0.88
Weighted-average shares used in per share
calculations:
Basic
53.4
52.8
53.2
52.8
Diluted
54.3
53.9
54.3
53.9
The following table presents details of the stock-based
compensation expense (benefit) that is included in each functional
line item in the condensed consolidated statements of operations
(in millions):
Three Months Ended
Nine Months Ended
September 28,
2024
September 30,
2023
September 28,
2024
September 30,
2023
Cost of goods sold
$
0.3
$
0.2
$
0.8
$
0.8
Selling, general and administrative
2.2
(2.4
)
17.0
(7.1
)
Research and development
4.0
1.1
11.8
3.9
Total
$
6.5
$
(1.1
)
$
29.6
$
(2.4
)
MASIMO CORPORATION
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(unaudited, in
millions)
Nine Months Ended
September 28,
2024
September 30,
2023
Cash flows from operating
activities:
Net income
$
44.7
$
47.6
Adjustments to reconcile net income to net
cash provided by (used in) operating activities:
Depreciation and amortization
72.2
75.8
Stock-based compensation expense
29.6
(2.4
)
(Gain) loss on disposal of equipment,
intangibles and other assets
(0.3
)
0.6
Provision for credit losses
0.9
1.1
Amortization of debt issuance cost
1.4
1.4
Impairment charge
—
7.0
Changes in operating assets and
liabilities:
(Increase) decrease in accounts
receivable
(9.4
)
84.8
(Increase) decrease in inventories
(40.1
)
(93.1
)
(Increase) decrease in other current
assets
(12.3
)
(14.6
)
(Increase) decrease in lease receivable,
net
7.1
(6.8
)
(Increase) decrease in deferred costs and
other contract assets
(2.3
)
(2.9
)
(Increase) decrease in other non-current
assets
0.1
(42.0
)
Increase (decrease) in accounts
payable
29.4
3.6
Increase (decrease) in accrued
compensation
13.3
(32.8
)
Increase (decrease) in accrued
liabilities
24.6
(19.5
)
Increase (decrease) in income tax
payable
(1.0
)
(7.1
)
Increase (decrease) in deferred revenue
and other contract-related liabilities
(3.0
)
(6.2
)
Increase (decrease) in other non-current
liabilities
(9.0
)
22.5
Net cash provided by (used in)
operating activities
145.9
17.0
Cash flows from investing
activities:
Purchases of property and equipment
(24.5
)
(33.1
)
Proceeds from sale of property and
equipment
13.5
—
Increase in intangible assets
(23.6
)
(29.3
)
Business combinations, net of cash
acquired
—
7.5
Other strategic investing activities
(0.1
)
(1.0
)
Net cash (used in) provided by
investing activities
(34.7
)
(55.9
)
Cash flows from financing
activities:
Borrowings under line of credit
72.7
139.5
Repayments on line of credit
(207.2
)
(154.3
)
Proceeds from issuance of common stock
21.4
6.7
Payroll tax withholdings on behalf of
employees for vested equity awards
(6.0
)
(12.7
)
Net cash (used in) provided by
financing activities
(119.1
)
(20.8
)
Effect of foreign currency exchange rates
on cash
3.4
(17.6
)
Net decrease in cash, cash equivalents and
restricted cash
(4.5
)
(77.3
)
Cash, cash equivalents and restricted cash
at beginning of period
168.2
209.6
Cash, cash equivalents and restricted cash
at end of period
$
163.7
$
132.3
About Masimo
Masimo (Nasdaq: MASI) is a global technology company that
develops and produces a wide array of industry-leading monitoring
technologies, including innovative measurements, sensors, patient
monitors, and automation and connectivity solutions. In addition,
Masimo Consumer Audio is home to eight legendary audio brands,
including Bowers & Wilkins®, Denon®, Marantz®, and Polk Audio®.
Our mission is to improve life, improve patient outcomes; and
reduce the cost of care. Masimo SET® Measure-through Motion and Low
Perfusion™ pulse oximetry, introduced in 1995, has been shown in
over 100 independent and objective studies to outperform other
pulse oximetry technologies. Masimo SET® has also been shown to
help clinicians reduce severe retinopathy of prematurity in
neonates, improve CCHD screening in newborns, and, when used for
continuous monitoring with Masimo Patient SafetyNet™ in
post-surgical wards, reduce rapid response team activations, ICU
transfers, and costs. Masimo SET® is estimated to be used on more
than 200 million patients in leading hospitals and other healthcare
settings around the world, and is the primary pulse oximetry at all
10 U.S. hospitals as ranked in the 2024 Newsweek World’s Best
Hospitals listing. In 2005, Masimo introduced rainbow® Pulse
CO-Oximetry technology, allowing noninvasive and continuous
monitoring of blood constituents that previously could only be
measured invasively, including total hemoglobin (SpHb®), oxygen
content (SpOC™), carboxyhemoglobin (SpCO®), methemoglobin (SpMet®),
Pleth Variability Index (PVi®), RPVi™ (rainbow® PVi), and Oxygen
Reserve Index (ORi™). In 2013, Masimo introduced the Root® Patient
Monitoring and Connectivity Platform, built from the ground up to
be as flexible and expandable as possible to facilitate the
addition of other Masimo and third-party monitoring technologies;
key Masimo additions include Next Generation SedLine® Brain
Function Monitoring, O3® Regional Oximetry, and ISA™ Capnography
with NomoLine® sampling lines. Masimo’s family of continuous and
spot-check monitoring Pulse CO-Oximeters® includes devices designed
for use in a variety of clinical and non-clinical scenarios,
including tetherless, wearable technology, such as Radius-7®,
Radius PPG® and Radius VSM™, portable devices like Rad-67®,
fingertip pulse oximeters like MightySat® Rx, and devices available
for use both in the hospital and at home, such as Rad-97® and the
Masimo W1® Medical Watch. Masimo hospital and home automation and
connectivity solutions are centered around the Masimo Hospital
Automation™ platform, and include Iris® Gateway, iSirona™, Patient
SafetyNet, Replica®, Halo ION®, UniView®, UniView :60™, and Masimo
SafetyNet™. It’s growing portfolio of health and wellness solutions
includes Radius T0® and Masimo W1™. Additional information about
Masimo and its products may be found at www.masimo.com.
RPVi has not received FDA 510(k) clearance
and is not available for sale in the United States. The use of the
trademark Patient SafetyNet is under license from University
HealthSystem Consortium.
Masimo, SET, Signal Extraction Technology, Improving Patient
Outcome and Reducing Cost of Care... by Taking Noninvasive
Monitoring to New Sites and Applications, rainbow, SpHb, SpOC,
SpCO, SpMet, PVI and ORI are trademarks or registered trademarks of
Masimo Corporation.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241105340239/en/
Investor Contact: Eli Kammerman (949) 297-7077
ekammerman@masimo.com
Media Contact: Evan Lamb (949) 396-3376
elamb@masimo.com
Media Contact: Longacre Square Partners
masimo@longacresquare.com
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