MASIMO (MASI) Company Report

Masimo hosted its 2025 Investor Day on December 3, 2025, detailing a strategic roadmap for durable growth.
The company announced long-range financial targets through 2028, including a revenue compound annual growth rate (CAGR) of 7%-10%, an operating margin of approximately 30%, and adjusted earnings per share of $8.00.
Masimo also reaffirmed its 2025 financial guidance, projecting Non-GAAP Revenue between $1,510 - $1,530 million and Non-GAAP earnings per diluted share of $5.40 - $5.55.
The strategic plan focuses on accelerating US Pulse Ox growth, increasing international Pulse Ox market share, expanding advanced monitoring, and executing new product launches, which are expected to contribute up to 1 percentage point to the 2026-2028 CAGR.

1 day ago

8-K

Masimo Outlines 2028 Financial Targets and Growth Strategy at 2025 Investor Day

MASI

Guidance Update

Product Launch

New Projects/Investments

Masimo outlined its 2028 financial targets, aiming for 7%-10% revenue growth, a 30% operating margin, and $8 earnings per share. The company also expects to generate $1 billion in cumulative operating cash flow over the next three years.
The company's growth strategy is built on accelerating U.S. and international pulse oximetry market share, expanding advanced monitoring presence, and launching 10 new products over the next three years, including a NextGen Root platform in 2027.
Masimo emphasized its innovation pipeline, featuring three waves of new products and technologies such as the SmartSet line, Radius VSM, an ASIC MX-11 chip, and an AFib detection algorithm.
The company recently secured a legal victory, with a California jury awarding Masimo over $600 million in a case against Apple.

1 day ago

Transcript

Masimo Secures Significant Patent Victory Against Apple

MASI

Legal Proceedings

Revenue Acceleration/Inflection

A jury awarded Masimo $634,313,913 in damages in a patent infringement dispute against Apple involving Masimo's patented heart monitoring technology.
The verdict, returned on November 18, 2025, followed an eight-day jury trial in the U.S. District Court for the Central District of California.
This win is one of multiple successes for Masimo in its ongoing dispute with Apple, which also includes securing an import ban on infringing Apple Watches in early 2024 and defeating Apple in a patent case against the Masimo W1 health watch last fall.

Nov 18, 2025, 2:00 PM

Press Release

Masimo Awarded $634M in Patent Infringement Case Against Apple

MASI

Legal Proceedings

A federal jury awarded Masimo $634 million in a patent infringement case against Apple.
The jury found that Apple's Apple Watch models violated Masimo's pulse-oximetry patent and legally qualify as "patient monitors".
This verdict follows a previous U.S. trade tribunal decision that blocked imports of some Apple Watch models for patent infringement.
Apple has expressed disagreement with the verdict and plans to appeal.

Nov 15, 2025, 12:21 AM

Morningstar

Clairity Raises $43 Million in Series B

MASI

New Projects/Investments

Product Launch

Clairity, Inc. announced the closing of a $43 million Series B financing round.
The funds will be used to commercialize Clairity Breast, the first FDA-authorized artificial intelligence platform that predicts a woman’s five-year risk of breast cancer from routine mammograms, and to advance development of Clairity Breast 3D and Clairity Heart.
The financing round was led by ACE Global Equity and Santé Ventures, with continued participation from the Breast Cancer Research Foundation (BCRF).
Joe Kiani, Founder of Masimo (NASDAQ: MASI), joined Clairity as an investor and board member.

Nov 13, 2025, 2:49 PM

Press Release

Masimo Announces Q3 2025 Results and Updates Full-Year Guidance

MASI

Earnings

Guidance Update

Revenue Acceleration/Inflection

Masimo reported Q3 2025 non-GAAP revenue of $371 million, representing an 8% increase on a constant currency basis compared to the prior year.
For Q3 2025, non-GAAP operating profit was $101 million, with an operating margin of 27.1%, and non-GAAP earnings per share reached $1.32.
The company updated its full-year 2025 non-GAAP guidance, projecting revenue between $1,510 and $1,530 million, operating profit from $412 to $424 million, and earnings per share between $5.40 and $5.55.
Capital equipment and other revenues grew 67% in Q3 2025, while consumable and service revenues grew 1%. The company also reported $1,714 million in unrecognized contract revenue, with $507 million expected to be recognized within the next 12 months.

Nov 4, 2025, 9:30 PM

Presentation

Masimo Reports Strong Q3 2025 Results and Raises Full-Year Guidance

MASI

Earnings

Guidance Update

Share Buyback

Masimo reported strong Q3 2025 results, with revenue growing 8% and adjusted earnings per share increasing 38% to $1.32, driven by strong demand and 450 basis points of operating margin expansion.
The company completed the sale of Sound United's assets in September, using the $328 million net proceeds to repay $56 million in debt and repurchase $350 million of common stock across Q3 and Q4 2025.
Masimo expanded its strategic partnership with Philips, anticipating greater share penetration within Philips' installed base over the next five years compared to the previous five years.
Full-year 2025 guidance was raised for operating margin to 27.3%-27.7% and adjusted EPS to $5.40-$5.55, while revenue guidance was tightened to $1,510-$1,530 million.
Strategic growth initiatives include enhancing commercial excellence, accelerating intelligent monitoring with AI (e.g., opioid-induced respiratory depression detection), and innovating wearables.

Nov 4, 2025, 9:30 PM

Transcript

Masimo Reports Strong Q3 2025 Results and Updates Full-Year 2025 Guidance

MASI

Earnings

Guidance Update

Share Buyback

Masimo reported Q3 2025 GAAP revenue of $371.5 million and non-GAAP net income per diluted share of $1.32, marking 38% growth over the prior year period.
The company completed the sale of Sound United on September 22, 2025, utilizing the net proceeds for common stock repurchases.
Masimo updated its full-year 2025 non-GAAP revenue guidance to $1,510 to $1,530 million, representing 8.5% to 10.0% growth on a constant currency basis.
The updated full-year 2025 non-GAAP earnings per diluted share guidance is $5.40 to $5.55, which incorporates an estimated $0.22 to $0.24 per share impact from new tariffs.

Nov 4, 2025, 9:09 PM

8-K

Masimo Corporation Amends 8-K to Include Pro Forma Financials for Consumer Audio Business Sale

MASI

M&A

On September 23, 2025, Masimo Corporation completed the sale of its consumer audio business, Sound United, to Harman International Industries, Incorporated.
The transaction had an aggregate purchase price of $350,000,000 in cash, with Masimo receiving approximately $328,000,000 at closing.
Masimo used the proceeds from the sale to repay its unsecured term loan obligation of $270,000,000, plus approximately $1,062,000 in accrued interest.
The amended 8-K includes unaudited pro forma condensed consolidated financial statements as of June 28, 2025, and for the fiscal years ended December 28, 2024, December 30, 2023, and December 31, 2022, reflecting the impact of the sale and debt repayment.

Sep 29, 2025, 8:18 PM

8-K

Masimo Completes Sale of Consumer Audio Business

MASI

M&A

Share Buyback

Masimo Corporation completed the sale of its Sound United consumer audio business to HARMAN International on September 23, 2025.
The aggregate purchase price for the transaction was $350,000,000 in cash, with Masimo receiving approximately $328,000,000 in cash at closing, subject to post-closing adjustments.
Masimo anticipates prioritizing share repurchases with the proceeds from the transaction, as it focuses on its core professional healthcare business.

Sep 23, 2025, 1:02 PM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for MASIMO.

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