Press release
Masimo Reports Second Quarter 2022 Financial Results
Second Quarter 2022 Highlights Consolidated revenue was $565 million; Healthcare revenue was $357 million, representing 17% reported growth and 19% constant
About this update from Masimo Corporation
[{"type":"text","content":"\nSecond Quarter 2022 Highlights\n\n\nConsolidated revenue was $565 million;\n\n\nHealthcare revenue was $357 million, representing 17% reported growth and 19% constant currency growth;\n\n\nNon-healthcare revenue was $208 million; and\n\n\nRepurchased 3 million shares of Masimo common stock for $401 million.\n\n\n IRVINE, Calif.--(BUSINESS WIRE)--\nMasimo (Nasdaq: MASI) today announced its financial results for the second quarter of 2022, ended July 2, 2022.\n\nSecond Quarter 2022 Financial Results\n\nConsolidated revenue was $565.3 million, representing 85.3% reported growth compared to $305.1 million in the second quarter of 2021. Healthcare revenue was $357.0 million, which represents 17.0% reported growth and 19.0% constant currency growth on a constant currency basis. Non-healthcare revenue was $208.3 million.\n\nExcluding handheld and fingertip pulse oximeters, shipments of noninvasive technology boards and instruments were 77,100, increasing 6.3% over the second quarter of 2021.\n\nFor the second quarter of 2022, on a consolidated basis, GAAP net income was $18.1 million, or $0.33 per diluted share, which includes expenses related to the Sound United acquisition. Non-GAAP net income was $74.8 million, or $1.35 per diluted share, for the quarter.\n\nJoe Kiani, Chairman and Chief Executive Officer of Masimo, said, “We delivered strong performance in the second quarter with revenue and earnings exceeding the high end of our guidance range. Our healthcare business fulfilled most of the delayed shipments from the first quarter by increasing manufacturing output, which boosted our growth in the second quarter. As a result, our healthcare business delivered 11% constant currency revenue growth for the first half of the year. We are raising our financial guidance on a constant currency basis for fiscal year 2022. I’m excited about the expanded potential to address new markets with our recently acquired consumer business, which will advance solutions for our customers at hospitals and at home.”\n\nFor additional financial details, please visit the Investor Relations section of the Company’s website at investor.masimo.com to access the second quarter 2022 Earnings Presentation materials.\n\nShare Repurchase Program\n\nDuring the second quarter of 2022, the Company repurchased 3 million shares of Masimo common stock for $401 millio...