Slide 1: Third Quarter 2025 Earnings
Third Quarter 2025 Earnings November 4, 2025 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements: This presentation contains forward-looking statements within the meaning of federal securities laws, including, among others, statements about our expectations, plans, strategies or prospects. We generally use the words “may,” “will,” “expect,” “beli
Slide 3: Executive Summary | Continuing Operations: Third Quarter 2025 Results
Executive Summary | Continuing Operations(1) Third Quarter 2025 Results Non-GAAP results including new tariffs: • Revenue(2) of $371 million grew 8% on a constant currency(3) basis. • Operating profit(2) of $101 million grew 29% versus prior year. • Operating margin(2) of 27.1% improved 450 basis po
Slide 4: Third Quarter 2025 Results vs. Prior Year | Continuing Operations
($ in millions; except EPS) GAAP Revenue $372 $343 8% Operating Profit $84 $38 119% Operating Margin 22.5% 11.1% 1,140 bps Earnings Per Share $0.99 $0.45 120% Non-GAAP Non-GAAP Revenue $371 $343 8% Constant Currency Revenue Growth 8% Excluding New Tariffs $106 $78 36% Impact of New Tariffs, Net of M
Slide 5: Non-GAAP Revenue, Consumable and Service, Capital and Other
22.6% 27.1% 2024 2025 62.9% 62.2% 2024 2025 $0.96 $1.32 2024 2025 5 Non-GAAP Revenue $MM, shown as reported $343 $371 2024 2025 $311 $316 2024 2025 $32 $55 2024 2025 Consumable and Service Revenue $MM, shown as reported Capital and Other Revenue $MM, shown as reported Notes: 1. The financial informa
Slide 6: Updated FY 2025 Guidance
($ in millions; except EPS) Low - High Low - High Low - High Non-GAAP Revenue $1,510 - $1,530 $1,505 - $1,535 $5 - ($5) Reported Growth 8.2% - 9.7% 7.9% - 10.0% 0.4% - (0.4%) Constant Currency Growth 8.5% - 10.0% 8.4% - 10.6% 0.1% - (0.6%) Excluding New Tariffs $428 - $440 $425 - $440 $3 - $0 Impact
Slide 7: Guidance Notes
7 Notes: 1. Represents updated guidance provided November 4, 2025. 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 F
Slide 8: Appendix • GAAP to Non-GAAP Reconciliations
Appendix • GAAP to Non-GAAP Reconciliations 8
Slide 9: GAAP to Non-GAAP Reconciliations – Continuing Operations
GAAP to Non-GAAP Reconciliations – Continuing Operations Notes: (1) Totals may not foot due to rounding. Annual reported amounts may vary from amounts previously reported due to rounding conventions. (2) The financial information reflects the continuing operations of Masimo’s healthcare business. Th
Slide 10: GAAP to Non-GAAP Reconciliations – Continuing Operations
(Unaudited; in millions, except per share data) (1),(2),(3),(4),(5) Quarterly Performance Full-Year Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 FY 2023 FY 2024 GAAP revenue $339.6 $343.9 $343.3 $368.4 $372.0 $370.9 $371.5 $1,275.5 $1,395.2 Business transition and related costs - - - - (0
Slide 11: GAAP to Non-GAAP Reconciliations – Continuing Operations
(Unaudited; in millions, except per share data) (1),(2),(3),(4),(5) Quarterly Performance Full-Year Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 FY 2023 FY 2024 GAAP non-operating income (expense) ($11.6) ($11.1) ($9.0) ($9.5) ($9.6) ($9.1) ($8.7) ($53.0) ($41.2) Realized and unrealized g