Masimo Q3 2022 Earnings Report
Key Takeaways
Masimo reported strong Q3 2022 results, with consolidated revenue of $549.3 million, a 78.7% increase compared to Q3 2021. Healthcare revenue grew by 6.4% to $327.2 million, and non-healthcare revenue was $222.1 million. GAAP net income was $37.9 million, or $0.70 per diluted share, while non-GAAP net income was $53.9 million, or $1.00 per diluted share.
Consolidated revenue reached $549 million.
Healthcare revenue was $327 million, demonstrating 6% reported growth and 10% constant currency growth.
Non-healthcare revenue amounted to $222 million.
GAAP net income was $37.9 million, or $0.70 per diluted share; non-GAAP net income was $53.9 million, or $1.00 per diluted share.
Masimo
Masimo
Forward Guidance
The Company provided the following estimates for its fourth quarter and full year 2022 guidance:
Positive Outlook
- Consolidated revenue is expected to be between $581 million and $611 million for Q4 2022.
- Healthcare revenue is projected to be between $337 million and $352 million for Q4 2022.
- Non-healthcare revenue is anticipated to be between $245 million and $260 million for Q4 2022.
- Consolidated earnings per diluted share are estimated to be between $0.80 and $0.92 (GAAP) or $1.11 and $1.22 (Non-GAAP) for Q4 2022.
- Full year 2022 revenue guidance includes year-over-year foreign currency headwinds of $35.0 million for healthcare segment.
Challenges Ahead
- Fourth quarter 2022 and full year 2022 revenue guidance includes year-over-year foreign currency headwinds of $13.6 million and $35.0 million, respectively for healthcare segment.
- Global economic and marketplace uncertainties related to the impact of the COVID-19 pandemic
- Dependence on Masimo SET® and Masimo rainbow SET™ products and technologies for substantially all of revenue
- Any failure in protecting intellectual property exposure to competitors’ assertions of intellectual property claims
- The highly competitive nature of the markets in which products and technologies are sold