Press release
Masimo Reports Second Quarter 2023 Financial Results
Second Quarter 2023 Highlights Consolidated revenue was $455.3 million; Healthcare revenue was $281.1 million; Non-healthcare revenue was $174.2 million;
About this update from Masimo Corporation
[{"type":"text","content":"\nSecond Quarter 2023 Highlights\n\n\n\nConsolidated revenue was $455.3 million;\n\n\n\nHealthcare revenue was $281.1 million;\n\n\n\nNon-healthcare revenue was $174.2 million;\n\n\n\nGAAP net income per diluted share was $0.29; and\n\n\n\nNon-GAAP net income per diluted share was $0.62.\n\n\n\n IRVINE, Calif.--(BUSINESS WIRE)--\nMasimo Corporation (Nasdaq: MASI) today announced its financial results for the second quarter of 2023, ended July 1, 2023.\n\n\nSecond Quarter 2023 Financial Results\n\n\nConsolidated revenue was $455.3 million, comprised of healthcare revenue of $281.1 million and non-healthcare revenue of $174.2 million.\n\n\nShipments of noninvasive technology boards and instruments were 64,100.\n\n\nConsolidated GAAP operating income was $29.3 million. Consolidated non-GAAP operating income was $58.6 million. Consolidated GAAP net income was $15.7 million, or $0.29 per diluted share. Consolidated non-GAAP net income was $33.7 million, or $0.62 per diluted share.\n\n\nJoe Kiani, Chairman and Chief Executive Officer of Masimo, said, “Second quarter 2023 was a tale of two realities. Our healthcare revenues and earnings declined sequentially and annually, but we gained new hospital customers at a record level, despite strong results in the prior three years, and retained existing hospital customers. We are disappointed with our results this quarter. Our updated guidance assumes inpatient volumes will not return to the levels we expected this year and we will not receive some of the new large orders we are expecting for W1™, Rad-G™ and Rad-97™. I want to emphasize that because of our growth in market share the past few years, and our innovative new products, we remain optimistic about Masimo’s future.”\n\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 2023 earnings presentation materials.\n\n\nUpdated Third-Quarter 2023 and Full-Year 2023 Financial Guidance\n\n\nThe Company provided the following updated estimates for its third-quarter 2023 and full-year financial guidance:\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nGuidance\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nThird-Quarter 2023(1)\n\n\n\n\n\n\n \n\n\n\n\n\n\nUpdated Full-Year 2023(1)\n\n\n\n\n\n\n\n\n(in millions, except earnings per diluted share)\n\n\n...