MASIMO CORP

Listed Company

MASICIK 0000937556NasdaqLarge AcceleratedElectromedical & Electrotherapeutic ApparatusDelawareFY ends Jan 2

Period

FY 2026

Revenue

$1.53B

Net Income

$-151.50M

Total Assets

—

Equity

—

Shares Out

52.37M

Op. Cash Flow

$217.80M

Business

MASIMO CORP develops and commercializes noninvasive patient monitoring technologies and related hospital automation, connectivity, remote monitoring and consumer health products. Its main offerings include Masimo SET® and rainbow® pulse oximetry platforms, circuit boards and modules, bedside and wearable monitors, proprietary single‑patient and reusable sensors, capnography and gas monitoring, telehealth platforms, and home wellness devices. The company operates two principal segments: a healthcare segment focused on clinical monitoring and connectivity and a non‑healthcare consumer audio business undergoing strategic review. Masimo sells globally to hospitals, EMS, home care, physician offices, long‑term care, veterinarians and consumers through a direct sales force, distributors, OEM partners and retail/e‑commerce channels.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	1,527	1,395	1,276	2,036	1,239
Cost of goods sold	582	601	510	977	431
Gross profit	945	794	766	1,059	808
Selling, general and administrative	506	549	451	657	395
Research and development	126	182	131	191	137
Litigation settlements	3	500,000	18	0	0
Total operating expenses	635	731	600	849	533
Operating income	310	63	166	210	276
Non-operating loss	−37	−41	−53	−17	−1
Income from continuing operations before provision for income taxes	273	22	113	193	274
Provision for income taxes	65	6	5	50	45
Net income from continuing operations, net of tax	208	16	108	—	—
Net (loss) from discontinued operations, net of tax - (Note 18)	−359	−321	−26	—	—
Net (loss) income	−152	−305	82	144	230
Basic income per share - continuing operations (in dollars per share)	3.88	0.3	2.04	—	—
Basic (loss) per share - discontinued operations (in dollars per share)	−6.7	−6.02	−0.5	—	—
Basic (loss) income per share (in dollars per share)	−2.83	−5.72	1.54	2.68	4.16
Diluted income per share - continuing operations (in dollars per share)	3.83	0.3	1.99	—	—
Diluted (loss) per share - discontinued operations (in dollars per share)	−6.63	−5.9	−0.48	—	—
Diluted (loss) income per share (in dollars per share)	−2.8	−5.6	1.51	2.6	3.98
Basic (in shares)	54	53	53	54	55
Diluted (in shares)	54	54	54	55	58

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	152	124	163	203	745
Accounts receivable net current	276	283	224	446	—
Assets held-for-sale - (Note 8)	0	17	0	—	—
Inventories	380	295	545	501	201
Other current assets	117	103	168	159	91
Other current assets, held-for-sale - (Note 18)	1	403	—	—	—
Total current assets	926	1,226	1,232	1,309	1,239
Lease receivable, non-current	43	59	71	73	74
Deferred costs and other contract assets	63	61	57	42	—
Property and equipment, net	355	337	424	403	273
Intangibles assets, net	52	62	420	461	73
Goodwill	101	97	99	445	100
Deferred tax assets	114	118	107	103	53
Other non-current assets	45	51	89	114	49
Other non-current assets, held-for-sale - (Note 18)	100,000	615	—	—	—
Total assets	1,699	2,626	3,042	3,211	1,887
Accounts payable	103	129	252	277	76
Accrued compensation	84	79	63	89	71
Deferred revenue and other contract-related liabilities, current	73	77	87	81	51
Other current liabilities	109	115	162	183	—
Other current liabilities, held-for-sale - (Note 18)	3	218	—	—	—
Total current liabilities	372	618	564	630	268
Long-term debt	518	714	872	942	0
Deferred tax liabilities	200,000	200,000	112	164	5
Other non-current liabilities	88	71	130	137	64
Other non-current liabilities, held-for-sale - (Note 18)	100,000	171	—	—	—
Total liabilities	978	1,574	1,677	1,872	337
Commitments and contingencies - (Note 24)	—	—	—	—	—
Preferred stock, $0.001 par value; 5.0 shares authorized; 0.0 shares issued and outstanding	0	0	0	0	0
Common stock, $0.001 par value; 100.0 shares authorized; 52.1 and 53.6 shares issued and outstanding at January 3, 2026 and December 28, 2024, respectively	100,000	100,000	100,000	100,000	100,000
Treasury stock, 22.0 and 19.5 shares at January 3, 2026 and December 28, 2024, respectively	−1,535	−1,169	−1,169	−1,169	—
Additional paid-in capital	929	838	783	782	753
Accumulated other comprehensive loss	−13	−108	−45	12	−6
Retained earnings	1,339	1,491	1,796	1,714	1,571
Total stockholders equity	721	1,052	1,365	1,339	1,550
Total liabilities and stockholders equity	1,699	2,626	3,042	3,211	1,887

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	39	49	39	136	36
Stock-based compensation	36	36	6	48	45
Amortization of debt issuance costs	3	2	2	1	0
Loss on disposal of inventory, equipment and other assets	7	97	800,000	500,000	500,000
Provision for credit losses	3	1	1	1	800,000
Benefit from deferred income taxes	12	−23	−20	−39	−15
(Increase) decrease in trade accounts receivable	2	−55	54	−144	−61
(Increase) decrease in related party receivable	−700,000	−7	4	6	—
(Increase) decrease in inventories	−112	−23	−106	−156	14
(Increase) decrease in other current assets	12	8	31	−7	7
(Increase) decrease in lease receivable, net	16	13	2	−13	−16
(Increase) decrease in deferred costs and other contract assets	−3	−4	−15	−13	−8
(Increase) decrease in other non-current assets	6	−2	4	−5	0
Increase (decrease) in accounts payable	−27	11	−8	61	11
Increase (decrease) in accrued compensation	12	22	−12	−9	0
Increase (decrease) in deferred revenue and other contract-related liabilities	4	18	9	28	7
Increase (decrease) in income taxes payable	4	−5	200,000	4	6
Increase (decrease) in accrued liabilities	−7	16	300,000	−16	8
Increase (decrease) in other non-current liabilities	5	−6	−400,000	4	800,000
Net cash provided by (used in) operating activities from continuing operations	217	163	100	—	—
Net cash provided by (used in) operating activities from discontinued operations	600,000	34	−6	—	—
Net cash provided by (used in) operating activities	218	196	94	29	265
Purchases of property and equipment	−19	−21	−38	−53	−26
Proceeds from the disposal of property and equipment	20	14	0	—	—
Increase in intangible assets	−5	−17	−23	−4	−9
Other strategic investing activities	2	−100,000	−1	—	—
Net cash provided by (used in) investing activities from continuing operations	−3	−25	−63	—	—
Net cash provided by (used in) investing activities from discontinued operations	279	−26	−18	—	—
Net cash provided by (used in) investing activities	275	−51	−81	−1,058	−38
Borrowings under revolving line of credit and term loan	1,077	89	173	1,084	0
Repayments under revolving line of credit and term loan	−1,282	−236	−238	−135	0
Proceeds from issuance of common stock	71	25	7	8	23
Repurchases of common stock	−364	0	0	−402	−129
Payroll tax withholdings on behalf of employees for stock options	−18	−12	−13	−25	−17
Debt issuance costs	−4	0	0	−9	0
Net cash provided by (used in) financing activities from continuing operations	−518	−133	−71	—	—
Net cash provided by (used in) financing activities from discontinued operations	−3	8	14	—	—
Net cash provided by (used in) financing activities	−521	−126	−57	520	−122
Effect of foreign currency exchange rates on cash	−300,000	−6	3	−31	−1
Net increase in cash, cash equivalents and restricted cash	−28	13	−41	−539	103

Filings

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