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Jun 28, 2025
Masimo Q2 2025 Earnings Report
Masimo reported its financial results for the second quarter ended June 28, 2025, showing growth in revenue and net income per diluted share from continuing operations.
Key Takeaways
Masimo delivered strong results in the second quarter of 2025, with GAAP revenue reaching $371 million and non-GAAP diluted EPS growing 46% to $1.33. The company's core healthcare business demonstrated robust growth and earnings, supported by effective tariff mitigation measures.
GAAP revenue for Q2 2025 was $371 million, an 8% increase year-over-year.
Non-GAAP net income per diluted share was $1.33, representing a 46% growth compared to the prior year period.
The company's core healthcare business showed strong growth and earnings.
Masimo successfully implemented tariff mitigation measures, reducing the tariff impact by 50% from original estimates.
Forward Guidance
Masimo updated its full-year 2025 guidance for continuing operations, reflecting strong non-GAAP revenue growth and improved operating profit and EPS, even with the impact of new tariffs.
Positive Outlook
- Non-GAAP revenue is projected to be between $1,505 million and $1,535 million, indicating 8% to 11% growth on a constant currency basis.
- Non-GAAP operating profit is expected to be $406 million to $422 million, including tariff impacts.
- Non-GAAP operating margin is guided to be 27.0% to 27.5%, including tariff impacts.
- Non-GAAP earnings per diluted share are projected to be $5.20 to $5.45, including tariff impacts.
- The company has successfully mitigated tariff impacts, reducing the estimated effect by 50%.
Challenges Ahead
- Guidance does not include any use of proceeds from a potential sale of Sound United.
- Guidance does not include any potential benefits from new tax policies.
- The implementation of tariffs remains a dynamic and uncertain situation, which could cause actual results to differ from projections.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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