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Mar 28, 2020
Masimo Q1 2020 Earnings Report
Masimo's financial performance for Q1 2020 was announced, highlighted by a revenue increase and strong customer response during the COVID-19 pandemic.
Key Takeaways
Masimo reported a 16.4% increase in total revenue to $269.6 million for Q1 2020, driven by a 16.9% increase in product revenue. GAAP net income per diluted share was $1.12, and non-GAAP net income per diluted share was $0.97. The company shipped 72,100 noninvasive technology boards and monitors, a 13.2% increase year-over-year.
Total revenue increased by 16.4% to $269.6 million compared to Q1 2019.
Product revenue increased by 16.9% to $269.6 million, or 17.5% on a constant currency basis.
GAAP net income per diluted share was $1.12.
Non-GAAP net income per diluted share was $0.97.
Masimo
Masimo
Forward Guidance
Given the uncertainties around the COVID-19 pandemic and its potential impact on our business, we are no longer offering guidance for 2020.
Positive Outlook
- Increased demand for our products from both direct and OEM customers, which has continued into the first month of the second quarter.
Challenges Ahead
- Potential interruptions in our manufacturing operation and our suppliers’ manufacturing operations.
- Potential reductions in future demand if there has been overbuying of our products due to the pandemic.