Masimo Corporation · NASDAQ:MASI
Masimo — Q4 2019 Earnings Presentation
9 slides from Masimo's earnings presentation, Feb 19, 2020
Slide 1: Non-GAAP Measures, Adjustments and Definitions
Non-GAAP Measures, Adjustments and Definitions Updated 02/13/20 © 2019 Masimo
Slide 2: Forward-Looking Statements
Forward-Looking Statements Masimo Corporation (“Masimo,” “MASI,” or the “Company”) cautions you that statements included in this presentation that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they
Slide 3: Non-GAAP Measures & Adjustments
Non-GAAP Measures & Adjustments Management uses certain non-GAAP financial measures such as constant currency product revenue, non- GAAP gross profit/margin %, non-GAAP operating expenses, non-GAAP operating expense %, non-GAAP operating income/margin %, non-GAAP provision for income taxes/tax rate,
Slide 4: Non-GAAP Measures & Adjustments (continued)
Non-GAAP Measures & Adjustments (continued) The Company also uses non-GAAP liquidity measures such as adjusted free cash flow, which excludes certain cash items related to the foregoing that may impact period over period comparability, and adjusted EBITDA, which excludes non-cash stock based compens
Slide 5: Constant currency revenue adjustments; royalty and other revenue
Non-GAAP Definitions > Constant currency revenue adjustments Some of our sales agreements with foreign customers provide for payment in currencies other than the U.S. Dollar. These foreign currency revenues, when converted into U.S. Dollars, can vary significantly from period to period depending o
Slide 6: Litigation damages, awards and settlements; IPR&D
Non-GAAP Definitions (continued) > Litigation damages, awards and settlements In connection with litigation proceedings arising in the course of our business, we have recorded expenses as a defendant in such proceedings in the form of damages, as well as gains as a plaintiff in such proceedings in
Slide 7: Integration related charges
Non-GAAP Definitions (continued) > Integration related charges As part of acquiring and divesting businesses, the Company may take actions that are considered non-recurring in nature to integrate the acquired business into the current Company structure as well as modify the current Company structu
Slide 8: Realized and unrealized gains or losses from foreign currency transactions
Non-GAAP Definitions (continued) > Realized and unrealized gains or losses from foreign currency transactions We are exposed to foreign currency gains or losses on outstanding foreign currency denominated receivables and payables related to certain customer sales agreements, product costs and othe
Slide 9: Excess tax benefits from stock-based compensation expense
Non-GAAP Definitions (continued) > Excess tax benefits from stock-based compensation expense GAAP requires that excess tax benefits recognized on stock-based compensation expense be reflected in our provision for income taxes rather than paid-in capital. As these excess tax benefits may be highly