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Dec 31, 2022
Masimo Q4 2022 Earnings Report
Masimo's Q4 2022 earnings were reported, showing revenue growth driven by both healthcare and non-healthcare segments, alongside strategic investments and acquisitions.
Key Takeaways
Masimo reported consolidated revenue of $617.0 million, representing an 88.3% increase. Healthcare revenue reached $351.9 million, with a 7.4% reported growth and 10.1% constant currency growth. The company's GAAP net income was $41.1 million, or $0.76 per diluted share, and non-GAAP net income was $71.3 million, or $1.32 per diluted share.
Consolidated revenue reached $617.0 million, up 88.3% year-over-year.
Healthcare revenue was $351.9 million, representing 7.4% growth and 10.1% on a constant currency basis.
Non-healthcare revenue totaled $265.1 million.
GAAP net income was $41.1 million, or $0.76 per diluted share; non-GAAP net income was $71.3 million, or $1.32 per diluted share.
Masimo
Masimo
Forward Guidance
The Company provided full-year 2023 guidance with consolidated revenue expected to be between $2,415 million and $2,460 million, and earnings per diluted share between $3.59 and $3.69 (GAAP) and $4.70 and $4.80 (Non-GAAP).
Positive Outlook
- Consolidated revenue is projected to be between $2,415 million and $2,460 million.
- Healthcare revenue is expected to range from $1,450 million to $1,465 million.
- Non-healthcare revenue is forecasted to be between $965 million and $995 million.
- Consolidated operating profit is anticipated to be between $319 million and $324 million (GAAP) and $400 million to $405 million (Non-GAAP).
- Consolidated earnings per diluted share are projected to be between $3.59 and $3.69 (GAAP) and $4.70 and $4.80 (Non-GAAP).
Challenges Ahead
- First quarter healthcare revenue guidance includes year-over-year foreign currency headwinds of $5.0 million.
- Full-year healthcare revenue guidance includes year-over-year foreign currency headwinds of $3.0 million.
- Uncertainties related to global economic and marketplace conditions.
- Dependence on Masimo SET® and Masimo rainbow SET™ products and technologies for substantially all of the revenue.
- Highly competitive nature of the markets.