Slide 1: Masimo Earnings First Quarter 2022
Masimo Earnings First 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: First Quarter 2022 Highlights
Revenue of $304 million, which represents 2% reported growth and 3% constant currency growth. Shipped 75,700 technology boards and instruments during the quarter; and Shipped 2.3 million technology boards and instruments over the last 10 years, increasing 7% over the prior year period. Business High
Slide 4: First Quarter 2022 Performance
Non-GAAP Operating Profit and Margin % ($ in millions) Non-GAAP EPS and Growth Rate Total Revenue and Growth Rate ($ in millions) Non-GAAP Gross Profit and Margin % ($ in millions) (1) Non-GAAP measures shown have been adjusted for certain items that are fully described in the Appendix. Please visit
Slide 5: First Quarter 2022 Actual vs. Prior Year | Non-GAAP
First Quarter 2022 Actual vs. Prior Year | 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 No
Slide 6: Context for 2022 Outlook
Context for 2022 Outlook • In Q1 2022, we encountered shortages of critical components in combination with other supply chain issues, including limited labor availability and freight carrier delays, which led to lower-than-expected sales in the first quarter. During the period we had strong customer
Slide 7: Second Quarter 2022 Guidance as of May 3, 2022
Second Quarter 2022 Guidance as of May 3, 2022 (1) $1.13 to $1.25 per share Revenue Non-GAAP Gross Margin Non-GAAP Operating Margin Non-GAAP EPS ~18%~56% Core Masimo revenue of $345 to $365 million, which includes $4 million of year-over-year currency headwinds; AND Sound United revenue of $180 to $
Slide 8: Second Quarter 2022 Guidance vs. Prior Year | Non-GAAP
Low High Low High Core Masimo 345 365 305 13% 20% Sound United 180 190 N/A N/A N/A Total Revenue $525 $555 $305 72% 82% Core Masimo 230 244 197 17% 23% Sound United 64 68 N/A N/A N/A Total Gross Profit 294 312 197 49% 58% Core Masimo 90 95 71 26% 34% Sound United 4 8 N/A N/A N/A Total Operating Prof
Slide 9: Full Year 2022 Guidance as of May 3, 2022
Full Year 2022 Guidance as of May 3, 2022 (1) $2,000 to $2,060 million $4.46 to $4.73 per share Revenue Non-GAAP Gross Margin Non-GAAP Operating Margin Non-GAAP EPS 18% to 19% ~56% Core Masimo revenue of $1,340 to $1,360 million on a reported basis and $1,357 to $1,377 million on a constant currency
Slide 10: Full Year 2022 Guidance vs. Prior Year | Non-GAAP
Full Year 2022 Guidance vs. Prior Year | Non-GAAP (1) (1) The Company is unable to present a quantitative reconciliation to the most directly comparable GAAP measures for forward-looking non-GAAP measures without unreasonable effort due to the recent Sound United acquisition which is pending complet
Slide 11: Expanding Into New Large and Growing Markets
Commercial & DTC Product Co-Development Core Parameters & Therapeutics Hospital Automation Telehealth and Opioid SafetyNet Smartwatch Undisclosed Hearing Enhancement Undisclosed On-The-Go At Home 2025 Market Size(1) $5B+ $2B+ $5B+ $50B+ TBD $5B+ TBD $85B+ $30B+ CAGR(1) MSD DD DD DD N/A DD N/A DD MSD
Slide 12: Appendix: GAAP to Non-GAAP Reconciliations
Appendix GAAP to Non-GAAP Reconciliations
Slide 13: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations (Unaudited; in millions, except percentages and per share data) (1) Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 GAAP revenue $269.6 $301.0 $278.1 $295.1 $299.0 $305.1 $307.4 $327.6 $304.2 Constant currency adjustments (2) N/A N/A N/A N/A N
Slide 14: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations (Unaudited; in millions, except percentages and per share data) (1) Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 GAAP non-operating income (expense) $3.3 $1.4 $1.4 $1.8 ($0.7) $0.1 ($0.1) ($0.7) ($0.6) Realized and unrealized gains or losse
Slide 15: 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