Slide 1: Third Quarter 2023 Earnings
1 Third Quarter 2023 Earnings November 7, 2023
Slide 2: Safe Harbor Statement
2 Safe Harbor Statement 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
Slide 3: Financial Overview
Masino Financial Overview
Slide 4: Third Quarter 2023 Actual vs. Prior Year
4 Third Quarter 2023 Actual vs. Prior Year(1) (1) See Appendix for reconciliation of GAAP and non-GAAP measures, including constant currency (“CC”) and pro forma (“PF”) measures. All growth comparisons in this presentation relate to the corresponding period of last fiscal year unless otherwise noted
Slide 5: Full Year 2023 Guidance vs. Prior Year
5 Full Year 2023 Guidance vs. Prior Year(1) ($ in millions; ex cept EPS) Low - High Low - High Low - High Healthcare $1,255 - $1,280 (6% ) - (4% ) (6% ) - (4% ) Non-Heathcare $770 - $795 11% - 14% (18% ) - (16% ) Revenue $2,025 - $2,075 (1%) - 2% (11%) - (9%) GAAP Gross Profit $1,001 - $1,030 (5%) -
Slide 6: Professional Healthcare Trends
6 Professional Healthcare Trends
Slide 7: Incremental Value of New Contracts
7 $0 $50 $100 $150 $200 $250 $300 2017 2018 2019 2020 2021 2022 2023 (1) Represents total contract revenue over the multi-year term of the contracts. Includes contracts with new customers and incremental new contracted business with existing customers. Management uses this information to analyze bus
Slide 8: Unrecognized Contract Revenue
8 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 2018 2019 2020 2021 2022 2023 (1) Represents Masimo’s Unrecognized Contract Revenue (as defined in Masimo’s Annual Report on Form 10-K filed March 1, 2023). As of the end of the third quarter of each year Unrecognized Contract Revenue(1) Worldwide
Slide 9: Total Revenue
9 Revenue (As Reported) $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 2017 2018 2019 2020 2021 2022 2023 (1) The information presented is based on constant currency exchange rates used by management for 2023 financial planning and analysis purposes. Management uses this information to analy
Slide 10: Total Consumables Revenue
1 0 $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 2017 2018 2019 2020 2021 2022 2023 (1) The information presented is based on constant currency exchange rates used by management for 2023 financial planning and analysis purposes. Management uses this information to analyze business trends. Refer t
Slide 11: Rainbow and Hemodynamics Monitoring Revenue
1 1 $0 $20 $40 $60 $80 $100 $120 $140 $160 2017 2018 2019 2020 2021 2022 2023 Through the third quarter of each year Rainbow and Hemodynamics Monitoring Revenue(1) Worldwide ($ in Millions) Professional Healthcare 20% CAGR (2017 – 2023) (1) The information presented is based on constant currency exc
Slide 12: Brain Monitoring Revenue
1 2 $0 $5 $10 $15 $20 $25 $30 $35 $40 2017 2018 2019 2020 2021 2022 2023 Through the third quarter of each year Brain Monitoring Revenue(1) Worldwide ($ in Millions) Professional Healthcare 27% CAGR (2017 – 2023) (1) The information presented is based on constant currency exchange rates used by mana
Slide 13: Capnography & Gas Monitoring Revenue
1 3 $0 $5 $10 $15 $20 $25 $30 $35 $40 2017 2018 2019 2020 2021 2022 2023 Through the third quarter of each year Capnography & Gas Monitoring Revenue(1) Worldwide ($ in Millions) Professional Healthcare 16% CAGR (2017 – 2023) (1) The information presented is based on constant currency exchange rates
Slide 14: Consumer Audio Trends
Masino Consumer Audio Trends
Slide 15: Total Consumer Audio Revenue
1 5 $0 $100 $200 $300 $400 $500 $600 $700 2021 2022 2023 Through the third quarter of each year Total Consumer Audio Revenue(1,2) Worldwide ($ in Millions) Consumer Audio (1) The information presented is based on actual exchange rates. Management uses this information to analyze business trends. The
Slide 16: Hearables Revenue
1 6 $0 $5 $10 $15 $20 $25 $30 $35 $40 $45 $50 2021 2022 2023 Through the third quarter of each year Hearables Revenue(1,2) Worldwide ($ in Millions) Consumer Audio 138% Growth Rate (2023 vs. 2022) Hearables product category includes earbuds and headphones (1) The information presented is based on co
Slide 17: Appendix GAAP to Non-GAAP Reconciliations
1 7 Appendix GAAP to Non-GAAP Reconciliations
Slide 18: Consolidated Income Statement
1 8 Consolidated Income Statement (1) Totals may not foot due to rounding. Annual reported amounts may vary from amounts previously reported due to rounding conventions. (2) 2023 Guidance provided on November 7, 2023. (3) Includes a $7.0 million impairment charge in Q3 2023 for certain indefinite-li
Slide 19: Consolidated Income Statement
1 9 Consolidated Income Statement (1) Totals may not foot due to rounding. Annual reported amounts may vary from amounts previously reported due to rounding conventions. (2) 2023 Guidance provided on November 7, 2023. (Unaudited; in millions, except per share data) (1) Quarter to Date Full Year Q4 2
Slide 20: Revenue
2 0 Revenue (1) Totals may not foot due to rounding. Annual reported amounts may vary from amounts previously reported due to rounding conventions. (2) 2023 Guidance provided on November 7, 2023. (3) Constant currency adjustments are intended to reflect revenue at prior year foreign exchange rates f
Slide 21: Segment Reporting
2 1 Segment Reporting (1) Totals may not foot due to rounding. Annual reported amounts may vary from amounts previously reported due to rounding conventions. (2) 2023 Guidance provided on November 7, 2023. (Unaudited; in millions) (1) Quarter to Date Full Year Q4 2023 Guidance (2) FY 2023 Guidance (