Slide 1: Masimo Earnings Second Quarter 2022
Masimo Earnings Second 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: Second Quarter 2022 Business Highlights
Healthcare revenue of $357 million, representing 17% reported growth and 19% constant currency growth; Shipped 77,100 technology boards and instruments during the quarter; and Shipped 2.4 million technology boards and instruments over the last 10 years, increasing 7% over the prior year period; and
Slide 4: Second Quarter 2022 Financial Highlights
Second Quarter 2022 Financial Highlights (1) $565 million $1.35 per share Revenue Non-GAAP Gross Margin Non-GAAP Operating Profit Non-GAAP EPS $107 million 54.7% Healthcare revenue of $357 million, representing 17% reported growth and 19% constant currency growth; AND Non-healthcare revenue of $208
Slide 5: Second Quarter 2022 Actual vs. Prior Year | Non-GAAP
(In millions; except EPS) Actual Prior Year vs. Prior Year Revenue $565 $305 85% Healthcare 357 305 17% Non-Healthcare 208 N/A N/A Gross Profit $309 $197 57% Healthcare 237 197 20% Non-Healthcare 73 N/A N/A Gross Margin 54.7% 64.7% -1000 bps Healthcare 66.3% 64.7% 160 bps Non-Healthcare 34.8% N/A N/
Slide 6: Third Quarter 2022 Guidance as of August 9, 2022
Third Quarter 2022 Guidance as of August 9, 2022 | Non-GAAP (1) $515 to $545 million $0.85 to $0.97 per share Revenue Non-GAAP Gross Margin Non-GAAP Operating Profit Non-GAAP EPS $72 to $80 million ~53% Healthcare revenue of $320 to $330 million, representing ~4% to 7% reported growth and ~7% to 11%
Slide 7: Full Year 2022 Guidance as of August 9, 2022
Full Year 2022 Guidance as of August 9, 2022 | Non-GAAP (1) $1,985 to $2,045 million $4.34 to $4.57 per share Revenue Non-GAAP Gross Margin Non-GAAP Operating Profit Non-GAAP EPS $346 to $364 million ~55% Healthcare revenue of $1,330 to $1,345 million, representing ~7% to 9% reported growth and ~10%
Slide 8: August 9, 2022 Guidance vs. Prior Year
August 9, 2022 Guidance vs. Prior Year (In millions; except EPS) Low High Prior Year Low High Revenue $1,985 $2,045 $1,239 60% 65% Healthcare 1,330 1,345 1,239 7% 9% Non-Healthcare 655 700 N/A N/A N/A Gross Profit $1,096 $1,125 $816 34% 38% Healthcare 871 881 816 7% 8% Non-Healthcare 225 245 N/A N/A
Slide 9: Full Year 2022 Guidance vs. Prior Guidance
Full Year 2022 Guidance vs. Prior Guidance | Non-GAAP (1) (1) Non-GAAP measures shown have been adjusted for certain items that are fully described in the Appendix. Please visit the Investor Relations section of the Company’s website at www.masimo.com to access additional information related to our
Slide 10: Appendix GAAP to Non-GAAP Reconciliations
Appendix GAAP to Non-GAAP Reconciliations
Slide 11: GAAP to Non-GAAP Reconciliations | Consolidated Income Statement
GAAP to Non-GAAP Reconciliations | Consolidated Income Statement (Unaudited; in millions, except per share data) (1) Q1 2021 Q2 2021 1H 2021 Q3 2021 Q4 2021 FY 2021 Q1 2022 Q2 2022 1H 2022 Low High Low High GAAP revenue $299.0 $305.1 $604.2 $307.4 $327.6 $1,239.2 $304.2 $565.3 $869.5 $515.0 $545.0 $
Slide 12: GAAP to Non-GAAP Reconciliations | Consolidated Income Statement
GAAP to Non-GAAP Reconciliations | Consolidated Income Statement (Unaudited; in millions, except per share data) (1) Q1 2021 Q2 2021 1H 2021 Q3 2021 Q4 2021 FY 2021 Q1 2022 Q2 2022 1H 2022 Low High Low High GAAP non-operating income (expense) ($0.7) $0.1 ($0.7) ($0.1) ($0.7) ($1.4) ($0.6) $4.5 $3.9
Slide 13: GAAP to Non-GAAP Reconciliations | Segment Reporting
GAAP to Non-GAAP Reconciliations | Segment Reporting (Unaudited; in millions) (1) Q3 2022 Guidance (2) FY 2022 Guidance (2) Q1 2021 Q2 2021 1H 2021 Q3 2021 Q4 2021 FY 2021 Q1 2022 Q2 2022 1H 2022 Low High Low High Revenue Healthcare 299.0 305.1 604.2 307.4 327.6 1,239.2 304.2 357.0 661.2 320.0 330.0
Slide 14: GAAP to Non-GAAP Reconciliations | Constant Currency Revenue
GAAP to Non-GAAP Reconciliations | Constant Currency Revenue (Unaudited; in millions, except percentages) (1,3) Q3 2022 Guidance (2) FY 2022 Guidance (2) Q1 2021 Q2 2021 1H 2021 Q3 2021 Q4 2021 FY 2021 Q1 2022 Q2 2022 1H 2022 Low High Low High Revenue Healthcare 299.0 305.1 604.2 307.4 327.6 1,239.2
Slide 15: Non-GAAP adjustment descriptions
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