Masimo Corporation · NASDAQ:MASI
Masimo — Investor Day (December 2025)
78 slides from Masimo's investor day presentation, Dec 3, 2025
Slide 1: Investor Day December 3, 2025
Investor Day D E C E M B E R 3 , 2 0 2 5
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,” “belie
Slide 3: Agenda
Agenda S TA R T T I M E ( P T ) S P E A K E R 9:00am Katie Szyman – Chief Executive Officer Expanding Our Global Leadership in Monitoring 9:20am Tim Benner – Chief Marketing & Strategy Officer Accelerating Global Growth 9:45am Dr. Daniel Cantillon – Chief Medical Officer Empowering Clinicians to Tra
Slide 4: Expanding Our Global Leadership in Monitoring
Katie Szyman Chief Executive Officer Expanding Our Global Leadership in Monitoring 2 0 2 5
Slide 5: Our Mission and Values
Patients First We do what is best for patients Innovation We thrive on fascination and discovery Performance We deliver with integrity People We respect and grow talent Our Mission: Masimo innovations empower clinicians to transform patient care Our Values: 5
Slide 6: Global Leader in Patient Monitoring
Global Leader in Patient Monitoring (1) Represents estimated installed base of non-invasive technology boards and instruments, excluding handheld and fingertip pulse oximeters, shipped over a rolling 10-year period ending September 30, 2025. 350+ engineers worldwide 200 million+ patients in 150+ cou
Slide 7: Key Wins: Focus, Innovation, Execution
F O C U S • Strategy centered on medical technology • Divested Sound United business • Targeted R&D strategy in core markets I N N O VAT I O N • Invested in AI capabilities • Expanded strategic partnership with Philips • Published INSPIRE study results E X E C U T I O N • Restructuring of operating
Slide 8: Positioned to Succeed: Long-Range Plan
Positioned to Succeed Long-Range Plan (Targets Through 2028) Note: Revenue growth excluding the impact of the 53rd selling week in 2025. 7%–10% Revenue CAGR $8.00 Adj. EPS by 2028 ~$1B 2026–2028 Cumulative Operating Cash Flow ~30% Operating Margin by 2028 World-class execution-oriented leadership te
Slide 9: Experienced Leadership Team With Track Record of Execution
Experienced Leadership Team With Track Record of Execution * Speakers/Breakout Presenter Katie Szyman* Chief Executive Officer Tim Benner* Chief Marketing & Strategy Officer Lisa Hellmann Chief Human Resources Officer Greg Meehan Chief Commercial Officer Anand Sampath EVP, Operations Linnette Torres
Slide 10: Our Top Priorities to Drive Value Through 2028
Commercial & Operational Excellence Cash Flow Growth Strategic Capital Allocation ExecutionInnovation 3 Waves of Innovation Installed Base Refresh Clinical Evidence Focus Significant Market Opportunity Masimo’s Growth Algorithm Patient Pathway to Growth Our Top Priorities to Drive Value Through 2028
Slide 11: Masimo's Growth Algorithm
Note: Revenue growth excluding the impact of the 53rd selling week in 2025. Expand Advanced Monitoring 2.50%–3.00% 7%–10% Durable Long-Term Growth Masimo’s Growth Algorithm Driving Towards Double-Digit Growth Exiting 2028 Accelerate US Pulse Ox Growth 2.75%–3.75% Execute New Product Launches Global
Slide 12: Significant Market Opportunity Across Large Key Markets
Significant Market Opportunity Across Large Key Markets US Pulse Ox Int'l Pulse Ox Advanced Monitoring Continuous Monitoring ~55% Masimo share ~35% Masimo share ~15% Masimo share $1.5B Market 3%–4% Annual Growth ~$800M Market 6%–8% Annual Growth ~$2.5B Market 5%–9% Annual Growth ~45% opportunity ~65
Slide 13: Expanding Our Impact to New Patient Pathways
Expanding Our Impact to New Patient Pathways Expansion Opportunity Monitoring Setting Today Expansion Opportunity Operating Room ICU Step-Down & Discharge UnitsER Admissions 30M Annual Patient Encounters 60M+ Annual Patient Encounters 145M Annual Patient Encounters 30M Annual Patient Encounters ~$2B
Slide 14: Refocused Innovation to Accelerate Growth
Radius VSM Refocused Innovation to Accelerate Growth Wave 2 (2026–2028) Wave 3 (2028+) Accelerate intelligent monitoring and new product adoption Innovate & launch wearables for curb-to-curb patient monitoring across the portfolio Elevate commercial excellence and new product launches Wave 1 (2025–2
Slide 15: Global Root Monitor Refresh Opportunity
Global Root® Monitor Refresh Opportunity 12 Years of Innovation Coming to Market Root® Monitor Next-Gen Root® Monitors High & Low Acuity Vital Signs 2027 LAUNCH 2028 LAUNCH2014 LAUNCH 100K+ Unit Root® Monitor Refresh Drives Revenue Opportunity 15
Slide 16: ITC Case and IP Defense
ITC Case In November, the International Trade Commission (ITC) announced a new proceeding We Continue to Defend Our Intellectual Property… …While Allowing the Team to Stay Focused on Driving Business Results What’s Next… CA Trade Secrets Decision expected from February 2025 bench trial $634M Damages
Slide 17: Positioned to Succeed: Long-Range Plan
Positioned to Succeed Long-Range Plan (Targets Through 2028) Note: Revenue growth excluding the impact of the 53rd selling week in 2025. 7%–10% Revenue CAGR $8.00 Adj. EPS by 2028 ~$1B 2026–2028 Cumulative Operating Cash Flow ~30% Operating Margin by 2028 World-class execution-oriented leadership te
Slide 18: Accelerating Global Growth: Sharpening Our Strategy
Tim Benner Chief Marketing and Strategy Officer Accelerating Global Growth SHARPENING OUR STRATEGY
Slide 19: Masimo's Growth Algorithm
Note: Revenue growth excluding the impact of the 53 rd selling week in 2025. Expand Advanced Monitoring 2.50% –3.00% 7% –10% Durable Long -Term Growth Masimo’s Growth Algorithm Driving Towards Double -Digit Growth Exiting 2028 Accelerate US Pulse Ox Growth 2.75% –3.75% Execute New Product Launches G
Slide 20: Masimo Growth Pillars
NPI Up to 1 ppt Ad vanced Monitoring 2.5 –3.0 ppts Int’l Pulse Ox 1.75 –2.25 ppts US Pulse Ox 2.75 –3.75 ppts 3 Note: Revenue growth excluding the impact of the 53 rd selling week in 2025. Masimo Growth Pillars 7% –10% Masimo CAGR 2026 –2028 Elevate Commercial Excellence Proven Markets | Proven Tech
Slide 21: Elevate Commercial Excellence
Elevate Commercial Excellence 1
Slide 22: Building Upon Our Commercial Leadership
ELEVATE COMMERCIAL EXCELLENCE1 Building Upon Our Commercial Leadership Winning portfolio supported by real -world evidence Strengthening market -leading commercial channel and elevating marketing strategy Expansive installed base via OEM partnerships with high recurring revenue Deep customer relatio
Slide 23: Winning Product Portfolio
ELEVATE COMMERCIAL EXCELLENCE1 SET Pulse Ox #1 • Best -in-class accuracy in motion + low perfusion • Used on 200M+ patients globally (1) • Adopted by all top 10 US hospitals (2) 2026/2027 Next -Gen Launch CO -Oximetry* & Hemodynamics #2 • Continuous CO -Ox/Hemoglobin monitoring • LiDCO cardiac outpu
Slide 24: Strengthening Market-Leading Commercial Channel
E L E V A T E C O M M E R C I A L E X C E L L E N C E1 7 *”New Go to Market” launch planning model. Strengthening Market-Leading Commercial Channel Unified Sales Structure New Chief Commercial Officer New Chief Marketing & Strategy Officer New President, JPAC Region E NH A NC E D F IE L D & M A R K
Slide 25: Elevating Partnerships With Key Opinion Leaders
ELEVATE COMMERCIAL EXCELLENCE1 Engagement: Elevating Partnerships With Leading Key Opinion Leaders New Strategic Advisory Boards LUMINARY SAB NURSE ADVOCATE SAB • Global KOL MDs • Portfolio, Pipeline • Investor Relations • Global Nurse KOLs • Portfolio, Pipeline • Marketing, Branding Inaugural Lumin
Slide 26: Installed Base via OEM Partnerships Creates Durable Revenue
ELEVATE COMMERCIAL EXCELLENCE1 Installed Base via OEM Partnerships Creates Durable Revenue Sept. 2025: Multi -Year Partnership Renewal With Broadened Focus 90+ Strong OEM Partnerships Create High Barriers to Entry Large and Growing Installed Base Creates High Recurring Revenue New Philips Partnershi
Slide 27: Deep Customer Relationships With 98%+ Renewal Rates
ELEVATE COMMERCIAL EXCELLENCE1 Deep Customer Relationships With 98%+ Renewal Rates 10 • 50% reduction in unplanned ICU transfers (4) • Blike study (2025) proves cost reduction (5) The Primary Pulse Oximetry at All 10 Top US Hospitals 98%+ Customer Retention Over Past 10 Years ~90% Win -Rate During H
Slide 28: Accelerate US Pulse Ox Growth
Accelerate US Pulse Ox Growth 2
Slide 29: Predictable Market Growth, Consistent Share Gains
ACCELERATE US PULSE OX GROWTH2 Predictable Market Growth, Consistent Share Gains US Pulse Ox US Pulse Ox Market Size ~$1.5B Market ~$2B TAM | ~75% Penetrated Masimo share: ~55% Opportunity: ~45% 7% –10% US Pulse Ox 2.75 –3.75 ppts Contribution to Masimo 2026 –2028 CAGR Masimo CAGR 2026 –2028 ~3.25 p
Slide 30: Proven Track Record Growing US Pulse Ox Share
ACCELERATE US PULSE OX GROWTH2 Proven Track Record Growing US Pulse Ox Share ~50% ~55% Commercial Excellence Clinical Evidence Investments Sensor Innovation (NPI) Continued Share Gains Driven by : 2021 2022 2023 2024 2025 2026 2027 2028 Targeting 58% –60% share by 2028 Masimo Drives 1 –2 ppts US Pul
Slide 31: Multi-Year Launch of New Pulse Ox Sensors Begins in 2026
A C C E L E R A T E U S P U L S E O X G R O W T H2 Multi-Year Launch of New Pulse Ox Sensors Begins in 2026 *OEM integration 1-2 years post-launch. (1) Khanna AK, et al. Prediction of Opioid-Induced Respiratory Depression on Inpatient Wards Using Continuous Capnography and Oximetry: An International
Slide 32: Increase International Pulse Ox Market Share
Increase International Pulse Ox Market Share 3
Slide 33: Increase International Pulse Ox Market Share
INCREASE INT’L PULSE OX MARKET SHARE3 Int’l Pulse Ox 1.75 –2.25 ppts Increase International Pulse Ox Market Share Int’l Pulse Ox Growth Contribution to Masimo 2026 –2028 CAGR Masimo CAGR 2026 –2028 7% –10% ~2.00 ppts Int’l Pulse Ox Market Size ~$ 800M Market 6% –8% Market Growth Masimo Share: ~55%+
Slide 34: Elevated International Pulse Ox Commercial Playbook
INCREASE INT’L PULSE OX MARKET SHARE3 Elevated International Pulse Ox Commercial Playbook in 2025 JPAC • Market development • New JPAC leaders • Next -Gen Pulse Ox: 2027 Masimo International Pulse Ox Share EMEA • Focus on top 5 EU markets • Expand presence in Middle East • Next -Gen Pulse Ox: EU 202
Slide 35: International Region Spotlight: Japan
INCREASE INT’L PULSE OX MARKET SHARE3 $ 1 50M + Market *Based upon country -level contribution to global sales. Masimo Japan Turnaround Initiated 2H 2025 International Region Spotlight: Japan Country Manager (new) (starts January 2026) Sales Leader (new) (starts December 2025) Underpenetrated: Masim
Slide 36: Expand Advanced Monitoring
Expand Advanced Monitoring 4
Slide 37: World-Class, Differentiated Portfolio in High-Growth Markets
EXPAND ADVANCED MONITORING4 World -Class, Differentiated Portfolio in High -Growth Markets NomoLine ® Capnography Respiration and ventilation ISA CO 2 Gas Monitoring Absorption of anesthetic gas SedLine ® Brain Function Monitoring Depth of sedation O3 ® Regional Oximetry Brain oxygenation LiDCO ® Ca
Slide 38: Leveraging the Advanced Monitoring Portfolio to Accelerate Growth
EXPAND ADVANCED MONITORING4 Ad vanced Monitoring 2.5 –3.0 ppts Leveraging the Advanced Monitoring Portfolio to Accelerate Growth Advanced Monitoring Global Market Size Masimo Share: ~55%+ Masimo Advanced Monitoring Global Growth Contribution to Masimo 2026 –2028 CAGR 7% –10% ~2.75 ppts ~$ 2.5B Globa
Slide 39: New US Commercial Structure Enables Portfolio Growth
EXPAND ADVANCED MONITORING4 Example: Masimo US Market Share Pulse Oximetry Capnography Brain Monitoring Hemodynamic Monitoring ~ 55% Significant Advanced Monitoring “Go -Get” Opportunity New US Commercial Structure Enables Portfolio Growth US Commercial Structure Enhancement Unified, Coordinated Reg
Slide 40: Execute New Product Launches
Execute New Product Launches 5
Slide 41: Executing Next-Gen Innovations Across the Portfolio
EXECUTE NEW PRODUCT LAUNCHES5 NPI: up to 1 ppt Executing Next -Gen Innovations Across the Portfolio Contribution to Masimo 2026 –2028 CAGR Masimo CAGR 2026 –2028 7% –10% Up to 1 ppt Masimo NPI Growth 2026 –2028 Growth From New Product Introductions • Global launches initiate 2026 • OEM partnership l
Slide 42: Meaningful Pipeline Delivering Innovations Our Customers Want
EXECUTE NEW PRODUCT LAUNCHES5 Meaningful Pipeline Delivering Innovations Our Customers Want Next -Gen Root ® H & L Acuity Next -Gen Root ® Vital Signs Next -Gen Patient SafetyNet Radius VSM Algorithm Additions: Sepsis O3 Autoregulation Seizure Detection Consumables Elevate commercial excellence and
Slide 43: High Confidence in 7%–10% Growth (2026–2028)
High Confidence in 7% –10% Growth (2026 –2028) Note: Revenue growth excluding the impact of the 53 rd selling week in 2025. NPI Up to 1 ppt Ad vanced Monitoring 2.5 –3.0 ppts Int’l Pulse Ox 1.75 –2.25 ppts US Pulse Ox 2.75 –3.75 ppts 7% –10% Masimo CAGR 2026 –2028 Elevate Commercial Excellence Prove
Slide 44: Patients and Counting...
200M Patients and Counting... |
Slide 45: Empowering Clinicians to Transform Patient Care
Daniel Cantillon, MD Chief Medical Officer Empowering Clinicians to Transform Patient Care
Slide 46: Masimo is Innovating the Delivery of Healthcare
Masimo is Innovating the Delivery of Healthcare A differentiated and meaningful body of clinical evidence Newly released clinical studies establish Masimo’s leadership across skin tone accuracy and hospital cost savings (1,2) Delivering transformative innovations inspired by clinicians Well position
Slide 47: Differentiated and Meaningful Body of Clinical Evidence
Differentiated and Meaningful Body of Clinical Evidence 30+ active clinical studies with 50+ planned 2026 –2028 Clinical studies across nine global regions, including 5 RCTs High -impact 2025 publications including: JAMA Pediatrics, Journal of Patient Safety, Chest Critical Care & others Real -world
Slide 48: Investing in Evidence to Empower Clinicians
2028 Alarm Fatigue Cost-of-Care Reduction Investing in Evidence to Empower Clinicians Core Pulse Ox Clinical Studies Advanced Monitoring + NPI Clinical Evidence BLIKE Study INSPIRE Study 2025 VSM Outcomes RCT VSM Cost Savings Adult SedLine RCT Bite Block Study 2027 OIRD and AFib Detection Outcomes S
Slide 49: INSPIRE Study
INSPIRE Study THE CLINICAL NARRATIVE INSPIRE Study (50 ICU Patients | Medical University of South Carolina) Best -in-class accuracy of Masimo Pulse Ox sensors among critically ill patients with dark and light skin tones INSPIRE Study(1) Medically complex patients: • 40% with low perfusion • 60% on v
Slide 50: BLIKE Study
BLIKE Study Continuous Monitoring Costs Less – Not More BLIKE Study Continuous monitoring of general wards reduces costs with ZERO preventable deaths due to OIRD (2) BLIKE Study(1) >32,000 general ward patients over 3 ½ years at Dartmouth - Hitchcock Medical Center Elegant real -world data analysis
Slide 51: Delivering Transformative Innovations Inspired by Clinicians
Delivering Transformative Innovations Inspired by Clinicians Next -Gen Root ® H & L Acuity Next -Gen Root ® Vital Signs Next -Gen Patient SafetyNet Radius VSM Algorithm Additions: Sepsis O3 Autoregulation Seizure Detection Consumables Elevate commercial excellence and new product launches Wave 1 202
Slide 52: Commitment to Leadership and Excellence in Pulse Oximetry
WAVE 1 2025 – 2026 A Commitment to Leadership and Excellence in Pulse Oximetry Capturing Human Signal Signal Processing & Feature Extraction Masimo AI/ML Engine Predictive Clinical Alerts & Decision Support Tools Masimo SET ® Testing 49% of subject pool FDA Guidance 2 subjects or > 15% subjects 50 5
Slide 53: Introducing Next Generation AI-Enabled Pulse Ox Sensors
WAVE 3 2028+ Introducing Next Generation AI -Enabled Pulse Ox Sensors Smart SET First AI -enabled sensor designed to detect patient deterioration Delivers 3 novel algorithmic clinical insights: OIRD, AFib and PRD Launching late 2026 (US and EU) Smart SET RD SET ® LNCS ® Introducing Masimo 1 5 – 2026
Slide 54: New Smart SET Sensor Addresses Critical Clinical Gaps
WAVE 1 2025 – 2026 New Smart SET Sensor Addresses Critical Clinical Gaps Opioid -Induced Respiratory Depression ( OIRD ) Continuous 24/7 OIRD Monitoring • Affects up to 46% of patients post -operatively (1) • ~20% of opioid -related deaths involve prescribed use (2) • Unmet need for patient -control
Slide 55: Radius VSM Launch
W A V E 3 2 0 2 8 + Radius VSM • Expands continuous monitoring to new care areas • Enhanced battery life (up to 12 hours) • Full market launch in 2026 (US + EU) • Announced partnership with University Hospitals to equip 1,500 beds across Northeast Ohio with Masimo Radius VSM® Radius VSM® Launch 1 5
Slide 56: Delivering Transformative Innovations Inspired by Clinicians
Delivering Transformative Innovations Inspired by Clinicians Next -Gen Root ® H & L Acuity Next -Gen Root ® Vital Signs Next -Gen Patient SafetyNet Radius VSM Algorithm Additions: Sepsis O3 Autoregulation Seizure Detection Consumables Elevate commercial excellence and new product launches Wave 1 202
Slide 57: Next-Gen Root
WAVE 2 2026 – 2028 Next -Gen Root Improves hospital workflows with EMR connectivity Hosts totality of Masimo’s smart algorithms Individualized care with advanced detection & prediction Launches in 2027 Innovating Masimo's Core Capital Portfolio ® 13
Slide 58: Next-Gen Root Vital Signs
WAVE 2 2026 – 2028 Next -Gen Root VITAL SIGNS Enhanced portability across hospital Advanced signal processing & algorithms Automates vital signs Bluetooth WiFi Alarm Speaker 12 -Hour Battery Innovating Masimo's Core Capital Portfolio Launches in 2027 ® 14
Slide 59: Delivering Transformative Innovations Inspired by Clinicians
Delivering Transformative Innovations Inspired by Clinicians Next -Gen Root ® H & L Acuity Next -Gen Root ® Vital Signs Accelerate intelligent monitoring and new product adoption Wave 2 2026 –2028 Algorithm Additions: AFib Detection Predictive Respiratory Depression Oxygen Delivery Smart SET Rhythm
Slide 60: Centralized Patient Monitoring: Next-Gen Patient SafetyNet
WAVE 3 2028+ (1) AHA survival statistics (cpr.heart.org). (2) Balshi et. al. 2023. (3) Cantillon et. al. 2016. With Key Clinical Benefits Substantial Breadth + Opportunity Masimo Patient SafetyNet installed in: • 850 hospitals (18% of US hospitals) • Covering 48,000 beds Lower missed events Rapid re
Slide 61: Next-Generation Patient SafetyNet: Novel Clinical Capabilities
WAVE 3 2028+ Next -Generation Patient SafetyNet : Novel Clinical Capabilities Main campus plus regional hospitals: 13-month outcome study Discretionary Emergency Response Team (ERT) deployment to bedside Associated with 93% Return of Spontaneous Circulation (ROSC) 17
Slide 62: Masimo is Innovating the Delivery of Healthcare
Masimo is Innovating the Delivery of Healthcare A differentiated and meaningful body of clinical evidence Newly released clinical studies establish Masimo’s leadership across skin tone accuracy and hospital cost savings (1,2) Delivering transformative innovations inspired by clinicians Well position
Slide 63: Our Plan to Drive Value Creation
Micah Young Chief Financial Officer Our Plan to Drive Value Creation
Slide 64: Long History of Driving Strong Financial Results
Note: Growth rates and margin expansion metrics based on midpoint of 2025 guidance range. Long History of Driving Strong Financial Results Within Core Med Tech Business 2017 2025 $738 $1,510–$1,530 Durable Revenue Growth 9%+ CAGR 2017 2025 18.6% 27.3%– 27.7% Incl. 110bps tariff impact Strong Margin
Slide 65: Our Financial Priorities
Dedicated focus on core medical technology markets Leverage SET platform to drive share gains across portfolio High-single-digit grower with pathway to double-digit growth Disciplined capital allocation strategy Multiple initiatives to drive further operating margin expansion Driving Durable Growth,
Slide 66: Delivering on Our 2025 Commitments
Delivering on Our 2025 Commitments Note: Data shown is non-GAAP. (1) Represents 2024 Strategic Realignment Initiative cost of goods sold of $61.0 million related to consumer health and discontinued products. (2) Midpoint of latest 2025 guidance range. Key Drivers 19.3% 27.5% 2024 Reported Operating
Slide 67: Positioned to Deliver Meaningful Growth, Margin Expansion and Cash Generation
Positioned to Deliver Meaningful Growth, Margin Expansion and Cash Generation 7%–10% Revenue CAGR Operating Margin by 2028 ~30% Adj. EPS by 2028 $8.00 2026–2028 Cumulative Operating Cash Flow ~$1B Focused on Delivering Shareholder Value L o n g - R a n g e Ta rg e t s ( T h ro u g h 2 0 2 8 ) Note:
Slide 68: Continued Focus on Financial Discipline & Capital Deployment
Continued Focus on Financial Discipline & Capital Deployment Clear, Executable Financial Roadmap Delivering Shareholder Returns Note: Revenue growth excluding the impact of the 53rd selling week in 2025. Margin Expansion Manufacturing and operational excellence Pricing discipline and COGS reduction
Slide 69: Our Plan To Drive Operating Margin Expansion Through 2028
Our Plan To Drive Operating Margin Expansion Through 2028 Note: Data shown is non-GAAP. (1) Midpoint of latest 2025 guidance range. ~27.5%(1) (110bps) +270bps +190bps (210bps)+110bps 2025 Operating Margin Incremental Annual Tariff Impact Tariff Mitigation Gross Margin Improvement Operating Leverage
Slide 70: Growth and Margin Expansion Translating to Strong EPS Growth
Growth and Margin Expansion Translating to Strong EPS Growth Commercial and Operational Execution to Maximize Shareholder Returns 7%–10% Revenue CAGR ~250bps Operating Margin Expansion Through 2028 Capital Deployment Share Buybacks & Debt Paydown $8.00 Adj. EPS by 2028 Note: Revenue growth excluding
Slide 71: Highly Efficient Cash Flow Profile
Highly Efficient Cash Flow Profile… Strong Cash Flow Capacity Driven by: Low capex requirements (~3% of sales) Continued operating leverage and margin improvement Working capital efficiency …With Meaningful Planned Improvement 2025 2026 2027 2028 ~60% 70%–80% FCF Conversion (%)* Operating Cash Flow
Slide 72: Foundation to Drive Shareholder Value
Foundation to Drive Shareholder Value Highly predictable and recurring revenue Leverageable operating model delivering margin expansion and strategic reinvestment Significant cash generation Clear, executable roadmap delivering shareholder returns Large and growing installed base with significant ba
Slide 73: Appendix
Appendix Maino
Slide 74: Masimo Common Abbreviations and Acronyms
Masimo Common Abbreviations and Acronyms Adj. Adjusted G&A General & Administrative OIRD Opioid-Induced Respiratory Depression Afib Atrial Fibrillation GAAP Generally Accepted Accounting Principles PCA Patient-Controlled Analgesia AI Artificial Intelligence GM General Manager Periop Perioperative AP
Slide 75: Reconfirmed FY 2025 Guidance
Reconfirmed FY 2025 Guidance 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
Slide 76: GAAP to Non-GAAP Reconciliations – Continuing Operations
GAAP to Non-GAAP Reconciliations – Continuing Operations Notes: (1) Totals may not foot due to rounding. Amounts may vary from amounts previously reported due to rounding conventions. (2) The financial information reflects the continuing operations of Masimo’s healthcare business. The sale of the So
Slide 77: GAAP to Non-GAAP Reconciliations – Continuing Operations
GAAP to Non-GAAP Reconciliations – Continuing Operations Notes: (1) Totals may not foot due to rounding. Amounts may vary from amounts previously reported due to rounding conventions. (2) The financial information reflects the continuing operations of Masimo’s healthcare business. The sale of the So
Slide 78: GAAP to Non-GAAP Reconciliations – Continuing Operations
GAAP to Non-GAAP Reconciliations – Continuing Operations Notes: (1) Totals may not foot due to rounding. Amounts may vary from amounts previously reported due to rounding conventions. (2) The financial information reflects the continuing operations of Masimo’s healthcare business. The sale of the So