Masimo Corp. ( (MASI) ) has released its Q3 earnings. Here is a breakdown of the information Masimo Corp. presented to its investors.
Masimo Corporation, a global technology company specializing in innovative monitoring technologies and consumer audio brands, released its third-quarter 2024 earnings report, indicating a strong performance primarily in its healthcare segment. The company is renowned for its advanced noninvasive monitoring solutions used in hospitals worldwide.
In the third quarter of 2024, Masimo reported consolidated revenue of $504.6 million, with healthcare revenue increasing by 11.5% to $343.3 million. The company’s GAAP net income per diluted share stood at $0.18, while non-GAAP net income per diluted share was $0.98, reflecting the company’s strategic focus on high-growth opportunities and operational efficiencies.
Key financial highlights include a GAAP operating income of $30.1 million and a non-GAAP operating income of $80.8 million. The company shipped 60,500 units of its noninvasive technology boards and instruments, signifying robust demand for its products. Despite challenges in its non-healthcare revenue, which totaled $161.3 million, Masimo continues to leverage its core strengths in the healthcare sector.
Looking ahead, Masimo’s management remains optimistic about the company’s growth potential, adjusting its full-year 2024 guidance with elevated expectations for non-GAAP operating margin and earnings per share. The focus remains on strategic investment in product development and optimizing market opportunities to enhance shareholder value as the company progresses into 2025.
