0000937556false00009375562025-01-162025-01-16
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________________________________________________
FORM 8-K
________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 16, 2025
MASIMO CORPORATION
(Exact name of registrant as specified in its charter)
________________________________________________
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
DE | | 001-33642 | | 33-0368882 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
52 Discovery | | Irvine, | | CA | | | | | 92618 |
(Address of Principal Executive Offices) | | | | | (Zip Code) |
| | | | | | (949) | 297-7000 | | | |
Registrant’s telephone number, including area code: |
Not Applicable |
(Former name or former address, if changed since last report) |
| | | | | |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2 (b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| | | | | | | | | | | | | | | | | |
Securities Registered pursuant to Section 12(b) of the Act: |
Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
Common Stock, $0.001 par value | | MASI | | The Nasdaq Stock Market LLC |
| | | | | |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). |
Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ |
| | | | | |
Item 2.02. | Results of Operations and Financial Condition. |
On January 16, 2025, Masimo Corporation (the “Company”) issued a press release announcing select preliminary financial results for the fourth quarter and full-year ended December 28, 2024. A copy of the press release is furnished as Exhibit 99.1 to this Current Report. The preliminary financial information presented in this press release is based on the Company’s current expectations and may be adjusted as a result of, among other things, completion of customary annual audit procedures. The Company’s management plans to discuss the Company’s complete fourth quarter and full-year 2024 financial results after the market closes on Tuesday, February 25, 2025.
In accordance with General Instructions B.2 of Form 8-K, the information in Item 2.02 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| | | | | |
Item 7.01. | Regulation FD Disclosure. |
In connection with the Company’s participation at the 43rd Annual J.P. Morgan Healthcare Conference on January 16, 2025, the Company’s Interim Chief Executive Officer and EVP, Chief Financial Officer, will review select preliminary financial results for the fourth quarter and full-year 2024 and estimates for its full-year 2025 financial guidance.
In addition, the Company is making available to investors supplemental financial information for fiscal 2017, 2018, 2019, 2020, 2021, 2022, 2023 and the first, second and third quarter of fiscal 2024 pursuant to the materials furnished as Exhibit 99.2 to this Current Report, as well as a discussion of non-GAAP measures, adjustments and definitions pursuant to the materials furnished as Exhibit 99.3 to this Current Report.
In accordance with General Instructions B.2 of Form 8-K, the information in Item 7.01 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| | | | | |
Item 9.01. | Financial Statements and Exhibits. |
(d) The following items are filed as exhibits to the Current Report on Form 8-K.
| | | | | |
Exhibit No. | Description |
99.1 | |
99.2 | |
| |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Masimo Corporation has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | MASIMO CORPORATION |
| | | | | |
Date: January 16, 2025 | | | | By: | | /s/ MICAH YOUNG |
| | | | | | Micah Young |
| | | | | | Executive Vice President & Chief Financial Officer |
| | | | | | (Principal Financial Officer) |
Exhibit 99.1
Masimo Announces Select Preliminary 2024 Financial Results and 2025 Guidance
Complete fourth quarter and full-year 2024 financial results will be announced on Tuesday, February 25, 2025
Irvine, California, January 16, 2025 - Masimo Corporation (Nasdaq: MASI) today announced select preliminary financial results for the fourth quarter and full-year ended December 28, 2024 and provided estimates for its full-year 2025 guidance.
Preliminary Fourth Quarter 2024 Financial Results:
| | | | | | | | | | | | | | | |
| | | | | | | |
| • | | Consolidated revenue is expected to be approximately $601 million, representing 9% growth on a reported and constant currency basis(1); | | | | |
| • | | Healthcare revenue is expected to be approximately $368 million, representing 8% growth on a reported basis and 9% growth on a constant currency basis(1); | | | | |
| • | | Non-healthcare revenue is expected to be approximately $232 million, representing 11% growth on a reported and constant currency basis(1); and | | | | |
| • | | Shipments of noninvasive technology boards and instruments are expected to be approximately 65 thousand. | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
Preliminary Full-Year 2024 Financial Results:
| | | | | | | | | | | | | | | |
| | | | | | | |
| • | | Consolidated revenue is expected to be approximately $2,094 million, representing 2% growth on a reported basis and 3% growth on a constant currency basis(1); | | | | |
| • | | Healthcare revenue is expected to be approximately $1,395 million, representing 9% growth on a reported basis and 10% growth on a constant currency basis(1); | | | | |
| • | | Non-healthcare revenue is expected to be approximately $699 million, representing a 10% decline on a reported basis and a 9% decline on a constant currency basis(1); and | | | | |
| • | | Non-GAAP earnings per diluted share is expected to be more than $4.10, which represents the high end of our prior guidance range. | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
The preliminary financial information presented in this press release is based on Masimo’s current expectations and may be adjusted as a result of, among other things, completion of customary annual audit procedures. Management plans to discuss Masimo’s complete fourth quarter and full-year 2024 financial results after the market closes on Tuesday, February 25, 2025.
Full-Year 2025 Guidance(2):
| | | | | | | | | | | | | | | |
| | | | | | | |
| • | | Healthcare revenue of $1,500 million to $1,530 million, representing 8% to 11% growth on a constant currency basis(1); | | | | |
| • | | Non-GAAP operating profit(2) of $398 million to $406 million, representing Non-GAAP operating margins of at least 26.5%; and | | | | |
| • | | Non-GAAP earnings per diluted share(2) of $4.90 to $5.10. | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
| | | | | | | |
__________________ | | | | | | | | | | | | | | |
(1) | Represents a non-GAAP financial measure for which a reconciliation to the most directly comparable GAAP financial measure is included in this press release. |
| | | | |
(2) | Effective fiscal year 2025, we are excluding the financial impact of Sound United from our non-GAAP financial measures and are no longer providing guidance since we are in the process of separating this business. Full-Year 2025 Guidance incorporates the financial impact of one additional calendar week for the healthcare business, which occurs every five or six years based on Masimo’s 4-4-5 fiscal calendar (incremental revenue in fiscal year 2025 from the additional week is primarily offset by ASC 842, product line removals from portfolio rationalization initiatives, and other factors). Financial guidance includes forward-looking non-GAAP financial measures for which reconciliations to the most directly comparable GAAP financial measures are not available without unreasonable efforts. See “Forward-Looking Non-GAAP Financial Measures” below, which identifies the information that is unavailable without unreasonable efforts and provides additional information. It is probable that forward-looking non-GAAP financial measures may be materially different from the corresponding GAAP financial measures. Guidance does not include any use of proceeds from the potential sale of Sound United. |
Conference Call
The Company will conduct its fourth quarter 2024 investor conference call on Tuesday, February 25, 2025 at 4:30 p.m. Eastern Time. To register for the conference call and receive the dial-in number, please use the following link: https://registrations.events/direct/Q4I407283360. A replay of the webcast and conference call will be available shortly after the conclusion of the call and will be archived on the Company’s website.
Website Information
To access important information relating to Masimo’s fourth quarter 2024 investor conference call, including the audio webcast and investor presentation, please visit the Investor Relations section of Masimo’s website at https://investor.masimo.com.
Non-GAAP Financial Measures
The non-GAAP financial measures contained herein are a supplement to the corresponding financial measures prepared in accordance with U.S. GAAP. The non-GAAP financial measures presented exclude the items described below. Management uses these non-GAAP financial measures internally for its operating and budgeting purposes, and believes that adjustments for these items assist investors in making comparisons of period-to-period operating results. Furthermore, management believes that the excluded items are not indicative of the Company’s on-going operating performance. These non-GAAP financial measures have certain limitations in that they do not reflect all of the costs associated with the operations of the Company’s business as determined in accordance with GAAP.
Therefore, investors should consider non-GAAP financial measures in addition to, and not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. The non-GAAP financial measures presented by the Company may be different from the non-GAAP financial measures used by other companies.
The Company has presented the following non-GAAP measures to assist investors in understanding the Company’s net operating results on an on-going basis: (i) constant currency revenue growth %, (ii) non-GAAP net income, (iii) non-GAAP (net income) earnings per diluted share and (iv) non-GAAP operating income/margin. These non-GAAP financial measures may also assist investors in making comparisons of the Company’s operating results with those of other companies. Management believes constant currency revenue growth, non-GAAP operating income/margin, non-GAAP net income and non-GAAP earnings per diluted share are important measures in the evaluation of the Company’s performance and uses these measures to better understand and evaluate our business.
The non-GAAP financial measures reflect adjustments for the following items:
Constant currency revenue adjustments
Some of our sales agreements with foreign customers provide for payment in currencies other than the U.S. Dollar. These foreign currency revenues, when converted into U.S. Dollars, can vary significantly from period-to-period depending on the average and quarter-end exchange rates during a respective period. We believe that comparing these foreign currency denominated revenues by holding the exchange rates constant with the prior year period is useful to management and investors in evaluating our revenue growth rates on a period-to-period basis. We anticipate that fluctuations in foreign exchange rates and the related constant currency adjustments for calculation of our revenue growth rate will continue to occur in future periods.
Acquired tangible asset amortization
These transactions represent amortization expense in connection with business or assets acquisitions associated with acquired tangible assets and asset valuation step-ups.
Acquired intangible asset amortization
These transactions represent amortization expense in connection with business or assets acquisitions associated with acquired intangible assets including, but not limited to customer relationships, intellectual property, trade names and non-competition agreements.
Acquisition, integration and related costs
These transactions represent gains, losses, and other related costs associated with acquisitions, integrations, investments, divestitures, assets impairments, and in-process research and development.
Business transition and related costs
These transactions represent gains, losses, and other related costs associated with business transition plans. These items may include but are not limited to severance, relocation, consulting, leasehold exit costs, asset impairment, and other related costs to rationalize our operational footprint and optimize business results.
Litigation related expenses and settlements (prior definition)
These transactions represent gains, losses, and other related costs associated with certain litigation matters, which can vary in their characteristics, frequency and significance to our operating results.
Litigation related expenses and settlements (updated definition)
We have been engaged in various legal proceedings against Apple since January 2020, including various proceedings in the federal courts, various proceedings in the U.S. Patent and Trademark Office (the “PTO proceedings”), and a proceeding in the U.S. International Trade Commission (the “ITC proceeding”). Although we previously excluded only expenses relating to the ITC proceeding from the definition of “Litigation related expenses and settlements”, beginning with the first quarter of 2024, we have revised the definition of “Litigation related expenses and settlements” to exclude not only expenses relating to the ITC proceeding, but also all other Apple litigation expenses, including those relating to the federal court proceedings and the PTO proceedings. We believe all of the Apple litigation expenses are unique in nature and not indicative of the Company’s on-going operating performance, and this updated definition will provide more useful information to investors by facilitating period-to-period comparisons of our financial performance that otherwise may be obscured by the significant fluctuations in Apple-related litigation expenses.
Other adjustments
In the event there are gains, losses and other adjustments which impact period-to-period comparability and do not represent the underlying ongoing results of the business, the Company may choose to exclude these from non-GAAP earnings.
Financing related adjustments
The Company may enter into various financial arrangements whereby costs are incurred and certain instrument features are valued and expensed accordingly but are not necessarily indicative of the on-going cash flow generation of the Company and therefore excludes these costs from non-GAAP earnings. For GAAP earnings per diluted share purposes, the Company cannot reflect the anti-dilutive impact, if applicable, in its diluted shares calculations. However, the Company believes that reflecting the anti-dilutive impact of these instruments in non-GAAP earnings per diluted share provides management and investors with useful information in evaluating the financial performance of the Company on a per share basis.
Realized and unrealized gains or losses
These transactions represent gains, losses, and other related costs associated with foreign currency denominated transactions and investments. Changes in the underlying currency rates relative to the U.S. Dollar may result in realized and unrealized foreign currency gains and losses between the time these receivables and payables arise and the time that they are settled in cash. Unrealized and realized gains and losses on investments may impact the Company’s reported results of operations for a period. These items are highly variable, difficult to predict and outside the control of those responsible for the underlying operations of the business. Other items also included here are mark-to-market gains and losses of derivative contracts that are not designated as hedging instruments or the ineffective portions of cash flow hedges.
Tax impact of non-GAAP adjustments
In order to reflect the tax effected impact of the non-GAAP adjustments, the Company will adjust the non-GAAP earnings by the approximate tax impact of these adjustments.
Excess tax benefits from stock-based compensation expense
GAAP requires that excess tax benefits recognized on stock-based compensation expense be reflected in our provision for income taxes rather than paid-in capital. As these excess tax benefits may be highly variable from period-to-period, the Company may choose to exclude these tax benefits from non-GAAP earnings to facilitate comparability between periods and with peers.
Forward-Looking Non-GAAP Financial Measures
This presentation also includes certain forward-looking non-GAAP financial measures. We calculate forward-looking non-GAAP financial measures based on internal forecasts that omit certain amounts that would be included in GAAP financial measures. For instance, we exclude the impact of certain charges related to acquisitions, integrations, divestitures and related costs; business transition and related costs; litigation related expenses and settlements; realized and unrealized gains or losses; tax related adjustments; and other adjustments. We have not provided quantitative reconciliations of these forward-looking non-GAAP financial measures to the most directly comparable forward-looking GAAP financial measures because the excluded items are not available on a prospective basis without unreasonable efforts. For example, the timing of certain transactions is difficult to predict because management's plans may change. In addition, the Company believes such reconciliations would imply a degree of precision and certainty that could be confusing to investors. It is probable that these forward-looking non-GAAP financial measures may be materially different from the corresponding GAAP financial measures.
Forward-Looking Statements
All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, the statements about our expectations regarding our 2025 financial guidance, including GAAP and non-GAAP consolidated revenue, healthcare revenue, non-healthcare revenue, consolidated operating income and consolidated earnings per diluted share. These forward-looking statements are based on management’s current expectations and beliefs and are subject to uncertainties and factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to: our dependence on Masimo SET® and Masimo rainbow SET™ products and technologies for substantially all of our revenue; any failure in protecting our intellectual property exposure to competitors’ assertions of intellectual property claims; the highly competitive nature of the markets in which we sell our products and technologies; any failure to continue developing innovative products and technologies; our ability to successfully integrate Sound United’s brands into our business; our ability to address and expand into new markets; the lack of acceptance of any of our current or future products and technologies; obtaining regulatory approval of our current and future products and technologies; the risk that the implementation of our international realignment will not continue to produce anticipated operational and financial benefits, including a continued lower effective tax rate; the loss of our customers; the failure to retain and recruit senior management; matters relating to future board and management leadership; product liability claims exposure; a failure to obtain expected returns from the amount of intangible assets we have recorded; the maintenance of our brand; the amount and type of equity awards that we may grant to employees and service providers in the future; our ongoing litigation and related matters; the ability to effect any potential separation of our consumer business described above and to meet any of the conditions related thereto; the approval of any such potential separation by Masimo’s board of directors; the ability of any separated businesses to be successful; potential uncertainty during the pendency of any such potential separation that could affect Masimo’s financial performance; the possibility that any potential separation will not be completed within the anticipated time period or at all; the possibility that any such potential separation will not achieve its intended benefits; the possibility of disruption, including changes to existing business relationships, disputes, litigation or unanticipated costs in connection with any such potential separation; the impact on our employees; the uncertainty of the expected financial performance of Masimo prior to and following completion of any such potential separation; negative effects of the announcement or pendency of any such potential separation on the market price of Masimo’s securities and/or on the financial performance of Masimo; evolving legal, regulatory and tax regimes; changes in general economic and/or industry specific conditions; actions by third parties, including government agencies; and other factors discussed in the “Risk Factors” section of our most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), including our most recent Form 10-K and Form 10-Q, all of which you may obtain for free on the SEC’s website at www.sec.gov. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Fourth Quarter and Full-Year 2024 Preliminary Results versus Fourth Quarter and Full-Year 2023 Actuals:
| | | | | | | | | | | | | | | | | | | | | | | |
RECONCILIATION OF HEALTHCARE GAAP TO NON-GAAP CONSTANT CURRENCY REVENUE(1): |
| | | | | Three Months Ended |
(in millions, except percentages) | | December 28, 2024 | | December 30, 2023 |
GAAP healthcare revenue | | $ | 368 | | | $ | 340 | |
| Constant currency revenue adjustments | | 1 | | | N/A |
Non-GAAP healthcare constant currency revenue | | $ | 369 | | | $ | 340 | |
| | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
GAAP healthcare revenue growth percentage | | 8 | % | | |
Non-GAAP healthcare constant currency revenue growth percentage | | 9 | % | | |
__________________
(1) May not foot due to rounding.
| | | | | | | | | | | | | | | | | | | | | | | |
RECONCILIATION OF NON-HEALTHCARE GAAP TO NON-GAAP CONSTANT CURRENCY REVENUE(1): |
| | | | | Three Months Ended |
(in millions, except percentages) | | December 28, 2024 | | December 30, 2023 |
GAAP non-healthcare revenue | | $ | 232 | | | $ | 209 | |
| Constant currency revenue adjustments | | (1) | | | N/A |
Non-GAAP non-healthcare constant currency revenue | | $ | 231 | | | $ | 209 | |
| | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
GAAP non-healthcare revenue growth percentage | | 11 | % | | |
Non-GAAP non-healthcare constant currency revenue growth percentage | | 11 | % | | |
__________________
(1) May not foot due to rounding.
| | | | | | | | | | | | | | | | | | | | | | | |
RECONCILIATION OF CONSOLIDATED GAAP TO NON-GAAP CONSTANT CURRENCY REVENUE(1): |
| | | | | Three Months Ended |
(in millions, except percentages) | | December 28, 2024 | | December 30, 2023 |
GAAP consolidated revenue | | $ | 601 | | | $ | 549 | |
| Constant currency revenue adjustments | | — | | | N/A |
Non-GAAP consolidated constant currency revenue | | $ | 601 | | | $ | 549 | |
| | | | | | | | | | | | | | | | | | | | | | | |
GAAP consolidated revenue growth percentage | | 9 | % | | |
Non-GAAP consolidated constant currency revenue growth percentage | | 9 | % | | |
__________________
(1) May not foot due to rounding.
| | | | | | | | | | | | | | | | | | | | | | | |
RECONCILIATION OF HEALTHCARE GAAP TO NON-GAAP CONSTANT CURRENCY REVENUE(1): |
| | | | | Twelve Months Ended |
(in millions, except percentages) | | December 28, 2024 | | December 30, 2023 |
GAAP healthcare revenue | | $ | 1,395 | | | $ | 1,275 | |
| Constant currency revenue adjustments | | 5 | | | N/A |
Non-GAAP healthcare constant currency revenue | | $ | 1,400 | | | $ | 1,275 | |
| | | | | | | | | | | | | | | | | | | | | | | |
GAAP healthcare revenue growth percentage | | 9 | % | | |
Non-GAAP healthcare constant currency revenue growth percentage | | 10 | % | | |
__________________
(1) May not foot due to rounding.
| | | | | | | | | | | | | | | | | | | | | | | |
RECONCILIATION OF NON-HEALTHCARE GAAP TO NON-GAAP CONSTANT CURRENCY REVENUE(1): |
| | | | | Twelve Months Ended |
(in millions, except percentages) | | December 28, 2024 | | December 30, 2023 |
GAAP non-healthcare revenue | | $ | 699 | | | $ | 773 | |
| Constant currency revenue adjustments | | 3 | | | N/A |
Non-GAAP non-healthcare constant currency revenue | | $ | 702 | | | $ | 773 | |
| | | | | | | | | | | | | | | | | | | | | | | |
GAAP non-healthcare revenue growth percentage | | (10) | % | | |
Non-GAAP non-healthcare constant currency revenue growth percentage | | (9) | % | | |
__________________
(1) May not foot due to rounding.
| | | | | | | | | | | | | | | | | | | | | | | |
RECONCILIATION OF CONSOLIDATED GAAP TO NON-GAAP CONSTANT CURRENCY REVENUE(1): |
| | | | | Twelve Months Ended |
(in millions, except percentages) | | December 28, 2024 | | December 30, 2023 |
GAAP consolidated revenue | | $ | 2,094 | | | $ | 2,048 | |
| Constant currency revenue adjustments | | 8 | | | N/A |
Non-GAAP consolidated constant currency revenue | | $ | 2,102 | | | $ | 2,048 | |
| | | | | | | | | | | | | | | | | | | | | | | |
GAAP consolidated revenue growth percentage | | 2 | % | | |
Non-GAAP consolidated constant currency revenue growth percentage | | 3 | % | | |
__________________
(1) May not foot due to rounding.
Full-Year 2025 Healthcare Financial Guidance:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
RECONCILIATION OF HEALTHCARE GAAP TO NON-GAAP CONSTANT CURRENCY REVENUE GUIDANCE(1): |
| | | | | Low | | High | | |
(in millions, except percentages) | | Full-Year 2025 Guidance | | Full-Year 2025 Guidance | | Full-Year 2024 |
GAAP healthcare revenue | | $ | 1,500 | | | $ | 1,530 | | | $ | 1,395 | |
| Constant currency revenue adjustments | | 13 | | | 13 | | | N/A |
Non-GAAP healthcare constant currency revenue | | $ | 1,513 | | | $ | 1,543 | | | $ | 1,395 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
GAAP healthcare revenue growth percentage | | 8 | % | | 10 | % | | |
Non-GAAP healthcare constant currency revenue growth percentage | | 8 | % | | 11 | % | | |
__________________
(1) May not foot due to rounding.
About Masimo
Masimo (Nasdaq: MASI) is a global technology company that develops and produces a wide array of industry-leading monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. In addition, Masimo Consumer Audio is home to eight legendary audio brands, including Bowers & Wilkins®, Denon®, Marantz®, and Polk Audio®. Our mission is to improve life, improve patient outcomes; and reduce the cost of care. Masimo SET® Measure-through Motion and Low Perfusion™ pulse oximetry, introduced in 1995, has been shown in over 100 independent and objective studies to outperform other pulse oximetry technologies. Masimo SET® has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates, improve CCHD screening in newborns, and, when used for continuous monitoring with Masimo Patient SafetyNet™ in post-surgical wards, reduce rapid response team activations, ICU transfers, and costs. Masimo SET® is estimated to be used on more than 200 million patients in leading hospitals and other healthcare settings around the world, and is the primary pulse oximetry at all 10 U.S. hospitals as ranked in the 2024 Newsweek World’s Best Hospitals listing. In 2005, Masimo introduced rainbow® Pulse CO-Oximetry technology, allowing noninvasive and continuous monitoring of blood constituents that previously could only be measured invasively, including total hemoglobin (SpHb®), oxygen content (SpOC™), carboxyhemoglobin (SpCO®), methemoglobin (SpMet®), Pleth Variability Index (PVi®), RPVi™ (rainbow® PVi), and Oxygen Reserve Index (ORi™). In 2013, Masimo introduced the Root® Patient Monitoring and Connectivity Platform, built from the ground up to be as flexible and expandable as possible to facilitate the addition of other Masimo and third-party monitoring technologies; key Masimo additions include Next Generation SedLine® Brain Function Monitoring, O3® Regional Oximetry, and ISA™ Capnography with NomoLine® sampling lines. Masimo’s family of continuous and spot-check monitoring Pulse CO-Oximeters® includes devices designed for use in a variety of clinical and non-clinical scenarios, including tetherless, wearable technology, such as Radius-7®, Radius PPG® and Radius VSM™, portable devices like Rad-67®, fingertip pulse oximeters like MightySat® Rx, and devices available for use both in the hospital and at home, such as Rad-97® and the Masimo W1® Medical Watch. Masimo hospital and home automation and connectivity solutions are centered around the Masimo Hospital Automation™ platform, and include Iris® Gateway, iSirona™, Patient SafetyNet, Replica®, Halo ION®, UniView®, UniView :60™, and Masimo SafetyNet™. It’s growing portfolio of health and wellness solutions includes Radius To® and Masimo W1™. Additional information about Masimo and its products may be found at www.masimo.com.
RPVi has not received FDA 510(k) clearance and is not available for sale in the United States. The use of the trademark Patient SafetyNet is under license from University HealthSystem Consortium.
# # #
| | | | | | | | |
Investor Contact: Eli Kammerman | | Media Contact: Evan Lamb |
(949) 297-7077 | | (949) 396-3376 |
ekammerman@masimo.com | | elamb@masimo.com |
| | |
| | Media Contact: Longacre Square Partners |
| | masimo@longacresquare.com |
Masimo, SET, Signal Extraction Technology, Improving Patient Outcome and Reducing Cost of Care... by Taking Noninvasive Monitoring to New Sites and Applications, rainbow, SpHb, SpOC, SpCO, SpMet, PVI and ORI are trademarks or registered trademarks of Masimo Corporation.
2025 J.P. Morgan Healthcare Conference January 16, 2025
146 26 31 73 74 76 246 208 209 16520 9164 197 36 42 148 149 152 2 Safe Harbor Statement Forward-Looking Statements: This presentation contains forward-looking statements within the meaning of federal securities laws, including, among others, statements about our expectations, plans, strategies or prospects. We generally use the words “may,” “will,” “expect,” “believe,” “anticipate,” “plan,” “estimate,” “project,” “assume,” “guide,” “target,” “forecast,” “see,” “seek,” “can,” “should,” “could,” “would,” “intend,” “predict,” “potential,” “strategy,” “is confident that,” “future,” “opportunity,” “work toward,” and similar expressions to identify forward-looking statements. All statements other than statements of historical or current fact are, or may be deemed to be, forward-looking statements. Such statements are based upon the current beliefs, expectations and assumptions of management and are subject to significant risks, uncertainties and changes in circumstances that could cause actual results to differ materially from the forward-looking statements. Forward-looking statements speak only as of the date they are made, and we disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers of this presentation are cautioned not to rely on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this presentation. The risks and uncertainties that may cause actual results to differ materially from Masimo’s current expectations are more fully described in Masimo’s reports filed with the U.S. Securities and Exchange Commission (SEC), including our most recent Form 10-K and Form 10-Q. Copies of these filings, as well as subsequent filings, are available online at www.sec.gov, www.masimo.com or upon request. Non-GAAP Financial Measures: The non-GAAP financial measures contained herein are a supplement to the corresponding financial measures prepared in accordance with U.S. GAAP. The non-GAAP financial measures presented exclude certain items that are more fully described in the Appendix. Management believes that adjustments for these items assist investors in making comparisons of period-to-period operating results. Furthermore, management also believes that these items are not indicative of the Company’s on-going core operating performance. These non-GAAP financial measures have certain limitations in that they do not reflect all of the costs associated with the operations of the Company’s business as determined in accordance with GAAP. Therefore, investors should consider non-GAAP financial measures in addition to, and not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. The non-GAAP financial measures presented by the Company may be different from the non- GAAP financial measures used by other companies. The Company has presented the following non-GAAP financial measures to assist investors in understanding the Company’s core net operating results on an on- going basis: non-GAAP revenue (constant currency), pro-forma non-GAAP revenue (constant currency), pro-forma non-GAAP revenue growth (constant currency), non-GAAP gross profit/margin %, non-GAAP SG&A expense (prior definition and updated definition), non-GAAP R&D expense, non-GAAP litigation settlements and awards, non-GAAP impairment charge, non-GAAP operating expense % (prior definition and updated definition), non-GAAP operating profit/margin % (prior definition and updated definition), non-GAAP non-operating income (expense), non-GAAP provision for income taxes (prior definition and updated definition), non-GAAP net income (loss) (prior definition and updated definition), non-GAAP net income (loss) per share (prior definition and updated definition). These non-GAAP financial measures may also assist investors in making comparisons of the company’s core operating results with those of other companies. Management believes these non-GAAP financial measures are important in the evaluation of the Company’s performance and uses these measures to better understand and evaluate our business. For additional financial details, including GAAP to non-GAAP reconciliations, please visit the Investor Relations section of the Company’s website at www.investor.masimo.com to access Supplementary Financial Information. Forward-Looking Non-GAAP Financial Measures: This presentation also includes certain forward-looking non-GAAP financial measures. We calculate forward-looking non-GAAP financial measures based on internal forecasts that omit certain amounts that would be included in GAAP financial measures. For instance, we exclude the impact of certain charges related to acquisitions, integrations, divestitures and related costs; business transition and related costs; litigation related expenses and settlements; realized and unrealized gains or losses; tax related adjustments; and other adjustments. We have not provided quantitative reconciliations of these forward-looking non-GAAP financial measures to the most directly comparable forward-looking GAAP financial measures because the excluded items are not available on a prospective basis without unreasonable efforts. For example, the timing of certain transactions is difficult to predict because management's plans may change. In addition, the Company believes such reconciliations would imply a degree of precision and certainty that could be confusing to investors. It is probable that these forward-looking non-GAAP financial measures may be materially different from the corresponding GAAP financial measures.
146 26 31 73 74 76 246 208 209 16520 9164 197 36 42 148 149 152 Ms. Brennan has served as a member of our Board since June 2023. Ms. Brennan currently serves on the boards of Cardinal Health, Inc. and Perosphere Technologies, Inc., where she sits on the Audit Committee and the Human Resources & Compensation Committee. Prior to her retirement in 2020, Ms. Brennan enjoyed a 30+ year career at Johnson & Johnson where she most recently served as Global Value Creation Leader and a member of the Medical Device Executive Leadership Team. Ms. Brennan earned a B.S. in Business Administration from the University of Kansas. 3 Michelle Brennan, Interim Chief Executive Officer
146 26 31 73 74 76 246 208 209 16520 9164 197 36 42 148 149 152 4 The Global Leader in Non-Invasive Monitoring Masimo At A Glance Notes: 1. Represents estimated installed base of non-invasive technology boards and instruments, excluding handheld and fingertip pulse oximeters, shipped over a rolling 10-year period. 2. According to 2024 Newsweek best hospital rankings. https://www.newsweek.com/rankings/worlds-best-hospitals-2024/united-states 3. Represents a non-GAAP financial measure for which a reconciliation to the most directly comparable GAAP financial measure is included in this presentation. 2.6 million installed base of technology boards and monitors(1) Top 10 U.S. Hospitals Masimo SET® is the primary pulse oximetry technology for the top 10 U.S. hospitals(2) 350+ engineers worldwide 200 million+ patients monitored each year using Masimo SET® technology 150+ countries where we sell our products Differentiated Technology Barriers to Entry Razor-Razor Blade Model Masimo is a nimble, innovative, and highly focused business with differentiated technology Significant IP moat coupled with dynamic of multi-year customer contracts and high cost of installed base create barriers to entry and significant switching costs Highly recurring revenue model driven by disposable sensors tied to durable capital equipment placements, reinforced with multi-year customer contracts ~$1,395 million in FY2024 Healthcare Revenues +10% constant currency growth(3)
146 26 31 73 74 76 246 208 209 16520 9164 197 36 42 148 149 152 5 Evolution of Masimo Fo cu s O ut co m e Build a best-in-class medtech business highly focused on the professional healthcare market. Invest in innovation to drive best-in- class growth and profitability The market leader in non-invasive monitoring Consistent double-digit revenue growth: CAGR from IPO (2007) through 2021 Non-GAAP Operating Margin: ~25% Expand into consumer healthcare: acquire Sound United, increase size of R&D organization to focus on consumer applications Refocus on Masimo’s unique ability to leverage innovation in the professional healthcare market to drive consistent growth and margin expansion Market leading innovation Consistent high-single digit / low double digit revenue growth Margin expansion with goals to reach best-in-class medtech margin profile Loss of organizational focus Stalled growth due to impact of acquired Sound United business Margin deterioration due to consumer R&D efforts & impacts of Sound United Pre-2022 2022-2024 2025+
146 26 31 73 74 76 246 208 209 16520 9164 197 36 42 148 149 152 6 We Made Substantial Progress in 2024 Notes: 1. Represents a non-GAAP financial measure for which a reconciliation to the most directly comparable GAAP financial measure is included in this presentation. 2. Represents total contract revenue over the multi-year term of the contracts. Includes contracts with new customers and incremental new contracted business with existing customers. Management uses this information to analyze business trends. All growth comparisons in this presentation relate to the corresponding period of prior fiscal year unless otherwise noted. Cost Savings Initiatives Cost savings initiatives already underway creating significant operating leverage Right-Sizing Organization Cost Rationalization & Consolidation of Facilities Organizational Initiatives Driving progress toward streamlined & efficient organization Exit of Sound United Driving Operational & R&D Efficiencies Process well underway; anticipate exit in the first half of 2025 Enhancing Key Launch & Innovation Processes Strong Core Healthcare Growth Continue to deliver consistent and durable revenue growth 2024 Preliminary Revenue ~$1,395 Million +9% reported growth +10% constant currency growth(1) $410+ Million 2024 Consumable & Service Revenue 2024 Incremental Value of New Contracts(2) ~$1,245 Million +14% reported growth +15% constant currency growth 2025E Non-GAAP Operating Margins: • Previously announced at least 26% • Today increasing to at least 26.5% • Significant margin expansion potential
146 26 31 73 74 76 246 208 209 16520 9164 197 36 42 148 149 152 7 Key Priorities for 2025 & Beyond Deliver Best-In-Class Growth1 Continue to Drive Innovation2 Focus On Operational Efficiencies and Margin Improvement3 Strategically Align Organization to Drive Sustainable Long-Term Growth4
146 26 31 73 74 76 246 208 209 16520 9164 197 36 42 148 149 152 8 Deliver Best-In-Class Growth1 Notes: 1. The information presented is based on constant currency exchange rates used by management for financial planning and analysis purposes. Management uses this information to analyze business trends. 2. Represents total contract revenue over the multi-year term of the contracts. Includes contracts with new customers and incremental new contracted business with existing customers. Management uses this information to analyze business trends. 2019 2024E $776 $1,245 2019 2024E $ 179 $410+ 2019 2024E $ 936 $ 1,395 Long Track Record of Sustained Growth Expected to Continue In 2025 and Beyond… …Driven by Masimo’s Highly Attractive Business Model and Strong Tailwinds Total Healthcare Revenue ($mm) Consumable and Service Revenue ($mm) Incremental Value of New Contracts ($mm) (2) +9% CAGR(1) Large & Growing Installed Base 2.6 million technology boards and monitors Highly Recurring Revenue Model Consumables & service revenues accounts for 89% of total healthcare revenue Technological Moat Leader in innovation and delivering best-in-class service Multi-Year Customer Contracts Multi-year contracts provide both visibility and stability Opportunity to Expand Share of Wallet Expanding business to focus on different care areas and technologies +10% CAGR(1)
146 26 31 73 74 76 246 208 209 16520 9164 197 36 42 148 149 152 9 Masimo Has Been The Leading Innovator In Non-Invasive Monitoring… Preeminent Innovator in Non-Invasive Patient Monitoring Serving Highly Attractive End-Markets Market Segment Healthcare Rev. Contribution Market GrowthMarket Position SET Pulse Oximetry ~74% ~3-4%#1 CO-Oximetry & Hemodynamics ~15% N/A#1 NomoLine Capnography & Gas Monitoring ~4% ~10%#2 ~4% ~5-7%#2 Hospital Automation & Telemonitoring ~3% N/AN/A Preeminent Innovator in Non-Invasive Monitoring Serving Highly Attractive End-Markets Key Innovations / Commentary • Best-in-class accuracy in motion, low perfusion, and dark skin pigmentation • Masimo SET is used on over 200 million patients annually around the world • All top 10 US hospitals use SET according to 2024 Newsweek best hospital ranking(1) • Recognized innovator with most advanced wearable and tetherless sensing technology • Unrivaled outcomes with over 100 independent and objective studies MASI LT Growth 6-8% 10%+ 10-20% 10-20% 20%+ 2 • Unrivaled clinical outcomes • 12 unique parameters for blood constituent monitoring using 12 wavelengths of light • Comprehensive hemodynamic solution utilizing LiDCO and Rainbow • Pulse CO-Oximetry platform with integration into multiple Masimo and 3rd party monitors • Patented NomoLine moisture-wicking technology improves accuracy and extends product life • Complete portfolio of products • Third-party compatibility with NomoLine-O® sampling lines • Complete brain monitoring solution on one platform • More accurate/best-in-class performance • Continued innovation with new parameters such as ΔcHb and new applications such as somatic oximetry • Masimo cloud-based distributed architecture • Cost efficiency: minimal infrastructure and service • Comprehensive and acuity-flexible solutions with unmatched wearable capabilities • One of the largest 3rd party medical device integration libraries • One ecosystem for connectivity, surveillance, visualization, mobility and more SedLine & O3 Brain Monitoring 1. According to 2024 Newsweek best hospital rankings. https://www.newsweek.com/rankings/worlds-best-hospitals-2024/united-states
146 26 31 73 74 76 246 208 209 16520 9164 197 36 42 148 149 152 10 …And Will Continue to Drive Innovation Deeper penetration in high acuity care Further expansion in low acuity care Define and develop market of hospital to home Key Go-Forward R&D Initiatives 2
146 26 31 73 74 76 246 208 209 16520 9164 197 36 42 148 149 152 11 Focus On Operational Efficiencies and Margin Improvement3 2025E Non-GAAP operating margins of at least 26.5%, with significant margin expansion potential Corporate overhead reduction Streamlining office of the CEO Facility rationalization Program rationalization Associated expense reductions COGS reductions Discontinuing other non-core products & programs Focus organization on high- conviction R&D programs with clear commercial rationale and highest ROIC Drive operational efficiencies; Discontinue and / or exit businesses and products not aligned with core professional healthcare business Optimizing corporate-level spending and right-sizing overhead Corporate Costs Research & Development Other Ongoing Efforts Margin Optimization Initiatives
146 26 31 73 74 76 246 208 209 16520 9164 197 36 42 148 149 152 12 Strategically Align Organization to Drive Growth Expanded Board of Directors Progressing CEO search that is now in final stages Discontinuing products and programs that do not align with our professional healthcare strategy and are non-value creating Focus R&D organization on high ROIC programs with commercial viability and attractive market dynamics Process well underway; anticipate exit in the first half of 2025 2025 guidance excludes Sound United; will be excluded from non-GAAP metrics going forward Expand and optimize manufacturing footprint in Malaysia Ongoing initiatives to reduce product costs and leverage overhead expenses 4 Focus R&D Efforts Executive Leadership Exit Consumer Audio 1 Other Non-Core Assets Reduce COGS 3 4 5 2
146 26 31 73 74 76 246 208 209 16520 9164 197 36 42 148 149 152 13 Preliminary FY 2024 Results & FY 2025 Guidance FY 2025 Guidance(2) Low High Healthcare Revenue Healthcare Revenue Growth (Constant Currency)(1) Non-GAAP Operating Profit(2) Non-GAAP Operating Margin(2) Non-GAAP Earnings Per Share(2) $1,500 8% $398 at least 26.5% $4.90 $1,530 11% $406 at least 26.5% $5.10 Preliminary FY 2024 Results $1,395 Million Healthcare Revenue +10% constant currency growth(1) $2,094 Million Total Revenue More than $4.10 Non-GAAP EPS Above high-end of prior guidance range of $3.95 - $4.10 $ in millions; except EPS Notes: 1. Represents a non-GAAP financial measure for which a reconciliation to the most directly comparable GAAP financial measure is included in this presentation. 2. Effective fiscal year 2025, we are excluding the financial impact of Sound United from our non-GAAP financial measures and are no longer providing guidance since we are in the process of separating this business. Full-Year 2025 Guidance incorporates the financial impact of one additional calendar week for the healthcare business, which occurs every five or six years based on Masimo’s 4-4-5 fiscal calendar (incremental revenue in fiscal year 2025 from the additional week is primarily offset by ASC 842, product line removals from portfolio rationalization initiatives, and other factors). Financial guidance includes forward-looking non-GAAP financial measures for which reconciliations to the most directly comparable GAAP financial measures are not available without unreasonable efforts. See “Forward-Looking Non-GAAP Financial Measures” on slide 2, which identifies the information that is unavailable without unreasonable efforts and provides additional information. It is probable that forward-looking non-GAAP financial measures may be materially different from the corresponding GAAP financial measures. Guidance does not include any use of proceeds from the potential sale of Sound United.
Appendix GAAP to Non-GAAP Reconciliations 14
146 26 31 73 74 76 246 208 209 16520 9164 197 36 42 148 149 152 GAAP to Non-GAAP Reconciliations Notes: 1. Totals may not foot due to rounding. Annual reported amounts may vary from amounts previously reported due to rounding conventions. 2. Constant currency adjustments are intended to reflect revenue at prior year foreign exchange rates for comparison purposes. 3. Effective fiscal year 2025, we are excluding the financial impact of Sound United from our non-GAAP financial measures and are no longer providing guidance since we are in the process of separating this business. Full-Year 2025 Guidance incorporates the financial impact of one additional calendar week for the healthcare business, which occurs every five or six years based on Masimo’s 4-4-5 fiscal calendar (incremental revenue in fiscal year 2025 from the additional week is primarily offset by ASC 842, product line removals from portfolio rationalization initiatives, and other factors). It is probable that forward-looking non-GAAP financial measures may be materially different from the corresponding GAAP financial measures. 15
v3.24.4
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
+ References
+ Details
Name: |
dei_EntityAddressAddressLine1 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definition
+ References
+ Details
Name: |
dei_EntityAddressCityOrTown |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCode for the postal or zip code
+ References
+ Details
Name: |
dei_EntityAddressPostalZipCode |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the state or province.
+ References
+ Details
Name: |
dei_EntityAddressStateOrProvince |
Namespace Prefix: |
dei_ |
Data Type: |
dei:stateOrProvinceItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate if registrant meets the emerging growth company criteria.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityEmergingGrowthCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
+ Details
Name: |
dei_EntityFileNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fileNumberItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
+ References
+ Details
Name: |
dei_EntityIncorporationStateCountryCode |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarStateCountryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityTaxIdentificationNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:employerIdItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLocal phone number for entity.
+ References
+ Details
Name: |
dei_LocalPhoneNumber |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 13e -Subsection 4c
+ Details
Name: |
dei_PreCommencementIssuerTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 14d -Subsection 2b
+ Details
Name: |
dei_PreCommencementTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTitle of a 12(b) registered security.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b
+ Details
Name: |
dei_Security12bTitle |
Namespace Prefix: |
dei_ |
Data Type: |
dei:securityTitleItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the Exchange on which a security is registered.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection d1-1
+ Details
Name: |
dei_SecurityExchangeName |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarExchangeCodeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 14a -Subsection 12
+ Details
Name: |
dei_SolicitingMaterial |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
+ References
+ Details
Name: |
dei_TradingSymbol |
Namespace Prefix: |
dei_ |
Data Type: |
dei:tradingSymbolItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Securities Act -Number 230 -Section 425
+ Details
Name: |
dei_WrittenCommunications |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
Masimo (NASDAQ:MASI)
과거 데이터 주식 차트
부터 1월(1) 2025 으로 2월(2) 2025
Masimo (NASDAQ:MASI)
과거 데이터 주식 차트
부터 2월(2) 2024 으로 2월(2) 2025