Press release
Masimo Reports First Quarter 2023 Financial Results
First Quarter 2023 Highlights Consolidated revenue was $565.0 million; Healthcare revenue was $346.7 million, representing 14.0% reported growth and 15.8%
About this update from Masimo Corporation
[{"type":"text","content":"\nFirst Quarter 2023 Highlights\n\n\n\nConsolidated revenue was $565.0 million;\n\n\n\nHealthcare revenue was $346.7 million, representing 14.0% reported growth and 15.8% constant currency growth;\n\n\n\nNon-healthcare revenue was $218.3 million;\n\n\n\nGAAP earnings per diluted share was $0.39; and\n\n\n\nNon-GAAP earnings per diluted share was $0.87.\n\n\n\n IRVINE, Calif.--(BUSINESS WIRE)--\nMasimo (Nasdaq: MASI) today announced its financial results for the first quarter of 2023, ended April 1, 2023.\n\n\nFirst Quarter 2023 Financial Results\n\n\nConsolidated revenue was $565.0 million, representing 85.7% reported growth compared to $304.2 million in the first quarter of 2022. Healthcare revenue was $346.7 million, which represents 14.0% reported growth and 15.8% growth on a constant currency basis. Non-healthcare revenue was $218.3 million.\n\n\nExcluding handheld and fingertip pulse oximeters, shipments of noninvasive technology boards and instruments were 77,300.\n\n\nConsolidated GAAP operating income was $38.0 million. Consolidated non-GAAP operating income was $75.5 million. Consolidated GAAP net income was $21.3 million, or $0.39 per diluted share, which includes expenses related to the Sound United acquisition. Consolidated non-GAAP net income was $47.5 million, or $0.87 per diluted share.\n\n\nJoe Kiani, Chairman and Chief Executive Officer of Masimo, said, “We started 2023 with solid performance. New hospital wins and strong uptake of rainbow® Pulse CO-Oximetry, Nomoline® Capnography, Sedline® and O3® brain monitoring drove double-digit constant currency growth in our healthcare segment and helped us beat expectations. Our consumer business also came in ahead of expectations due to higher-than-expected demand for out hearables. Our consumer health strategy is building momentum, with Opioid Halo™, Stork™ and Freedom™ now available for pre-order. Our strong performance this quarter reflects our long track record of innovation in our professional healthcare business, our thoughtful stewardship of our established luxury and premium consumer audio brands, and our progress marrying the two to build a trusted, clinically proven consumer health business.”\n\n\nFor additional financial details, please visit the Investor Relations section of the Company’s website at investor.masimo.com to access the first quarter 2023 earnin...