Slide 1: Masimo Earnings Third Quarter 2022
Masimo Earnings Third Quarter 2022
Slide 2: Forward-looking statements
These presentations contain 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,” “believe,” “anticipate,” “plan,” “estimate,” “project,
Slide 3: Third Quarter 2022 Financial Highlights
Third Quarter 2022 Financial Highlights (1) $549 million $1.00 per share Revenue Non-GAAP Gross Margin Non-GAAP Operating Profit Non-GAAP EPS $81 million 52.6% Healthcare revenue of $327 million, representing 6% reported growth and 10% constant currency growth; AND Non-healthcare revenue of $222 mil
Slide 4: Third Quarter 2022 Actual vs. Prior Year | Non-GAAP
(In millions; except EPS) Actual Prior Year vs. Prior Year Revenue $549 $307 79% Healthcare 327 307 6% Non-Healthcare 222 N/A N/A Gross Profit $289 $204 41% Healthcare 211 204 3% Non-Healthcare 78 N/A N/A Gross Margin 52.6% 66.5% -1390 bps Healthcare 64.6% 66.5% -190 bps Non-Healthcare 35.0% N/A N/A
Slide 5: Fourth Quarter 2022 Guidance as of November 8, 2022
Fourth Quarter 2022 Guidance as of November 8, 2022 (1) $581 to $611 million $1.11 to $1.22 per share Revenue Non-GAAP Gross Margin Non-GAAP Operating Profit Non-GAAP EPS $91 to $100 million ~51% Healthcare revenue of $337 to $352 million, representing 3% to 7% reported growth and 7% to 11% constant
Slide 6: Fourth Quarter 2022 Guidance vs. Prior Year | Non-GAAP
Guidance vs. Prior Year (In millions; except EPS) Low High Prior Year Low High Revenue $581 $611 $328 77% 87% Healthcare 337 352 328 3% 7% Non-Healthcare 245 260 N/A N/A N/A Gross Profit $296 $313 $216 37% 45% Healthcare 211 222 216 -2% 3% Non-Healthcare 84 91 N/A N/A N/A Gross Margin 50.9% 51.2% 65
Slide 7: Full Year 2022 Guidance as of November 8, 2022
Full Year 2022 Guidance as of November 8, 2022 (1) $2,000 to $2,030 million $4.38 to $4.49 per share Revenue Non-GAAP Gross Margin Non-GAAP Operating Profit Non-GAAP EPS $349 to $357 million ~55% Healthcare revenue of $1,325 to $1,340 million, representing 7% to 8% reported growth and 10% to 11% con
Slide 8: Full Year 2022 Guidance vs. Prior Year | Non-GAAP
Guidance vs. Prior Year (In millions; except EPS) Low High Prior Year Low High Revenue $2,000 $2,030 $1,239 61% 64% Healthcare 1,325 1,340 1,239 7% 8% Non-Healthcare 675 690 N/A N/A N/A Gross Profit $1,099 $1,117 $816 35% 37% Healthcare 865 875 816 6% 7% Non-Healthcare 235 241 N/A N/A N/A Gross Marg
Slide 9: Appendices
Appendices GAAP to Non-GAAP Reconciliations
Slide 10: Consolidated Income Statement (Unaudited)
GAAP to Non-GAAP Reconciliations | Consolidated Income Statement (Unaudited; in millions, except per share data) (1) Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Q1 2022 Q2 2022 Q3 2022 Low High Low High GAAP revenue $299.0 $305.1 $307.4 $327.6 $1,239.2 $304.2 $565.3 $549.3 $581.2 $611.2 $2,000.0 $2,030.
Slide 11: Consolidated Income Statement (Unaudited), continued
GAAP to Non-GAAP Reconciliations | Consolidated Income Statement (Unaudited; in millions, except per share data) (1) Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Q1 2022 Q2 2022 Q3 2022 Low High Low High GAAP non-operating income (expense) ($0.7) $0.1 ($0.1) ($0.7) ($1.4) ($0.6) $4.5 ($2.8) ($11.7) ($11.
Slide 12: Segment Reporting (Unaudited)
GAAP to Non-GAAP Reconciliations | Segment Reporting (Unaudited; in millions) (1) Q4 2022 Guidance (2) FY 2022 Guidance (2) Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Q1 2022 Q2 2022 Q3 2022 Low High Low High Revenue Healthcare 299.0 305.1 307.4 327.6 1,239.2 304.2 357.0 327.2 336.5 351.5 1,325.0 1,340
Slide 13: Constant Currency Revenue (Unaudited)
GAAP to Non-GAAP Reconciliations | Constant Currency Revenue (Unaudited; in millions, except percentages) (1,3) Q4 2022 Guidance (2) FY 2022 Guidance (2) Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Q1 2022 Q2 2022 Q3 2022 Low High Low High Revenue Healthcare 299.0 305.1 307.4 327.6 1,239.2 304.2 357.0 3
Slide 14: Non-GAAP adjustment definitions
The non-GAAP financial measures reflect adjustments for the following items, as well as the related income tax effects thereof, as these items may impact period-to-period comparability; furthermore, management also believes that these items are not indicative of the Company’s on-going core operating