Masimo Announces Certain Preliminary First Quarter 2022 Financial Results and Reaffirms Full-Year 2022 Revenue Guidance

IRVINE, Calif.–(BUSINESS WIRE)–Masimo Corporation (Nasdaq: MASI) today announced certain preliminary financial results for the first quarter ended April 2, 2022 and reaffirmed its full-year 2022 revenue guidance.

Preliminary results for the first quarter of 2022:

Masimo expects its product revenues for the first quarter of 2022 to be between $285 million and $315 million. Shortages of critical components, combined with other supply chain issues, including freight carrier delays, led to weaker-than-expected sales in the first quarter.

Joe Kiani, President and CEO of Masimo, said, “Over the past quarters, we have been able to weather the storm of COVID-related supply chain issues. However, these issues affected us in the first quarter. We have strong customer demand, and if we had been able to ship what was ordered in the first quarter, our revenue would have exceeded expectations. We are reiterating our full year 2022 revenue guidance of $1,350 million, based on our belief that we will fulfill our strong level of open orders for the remainder of the year. »

The preliminary financial information presented in this press release is based on Masimo’s current expectations and may be adjusted following, among other things, the completion of customary quarter-end review procedures and the financial review. Management plans to discuss Masimo’s full financial results for the first quarter of 2022 after market close on Tuesday, May 3, 2022.

Conference call:

The conference call to review Masimo’s full first quarter 2022 results will begin at 1:30 p.m. PT (4:30 p.m. ET) on Tuesday, May 3, 2022 and will be hosted by Joe Kiani, President and CEO, and Micah Young, Vice President. executive and chief financial officer.

To register for the conference call and receive the dial-in number, please use the link below. Upon registration, each participant will receive call details and a registrant identification number.

Conference call registration link:

https://conferencingportals.com/event/nUSpRIEm

A replay of the webcast and conference call will be available shortly after the call concludes and will be archived on the Company’s website.

About Masimo

Masimo (Nasdaq: MASI) is a global medical technology company that develops and produces a wide range of advanced monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. Our mission is to improve patient outcomes, reduce the cost of care, and expand noninvasive monitoring to new sites and applications. Masimo Bundle® Measure movement and low perfusionPulse oximetry, introduced in 1995, has been shown in over 100 independent, objective studies to outperform other pulse oximetry technologies. Masimo set® It has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates, improve screening for CCC in neonates, and when used for ongoing monitoring with Masimo Patient SafetyNet in post-surgical departments, reduce rapid response team activations, ICU transfers and costs. Masimo set® is estimated to be used on more than 200 million patients in major hospitals and other healthcare facilities worldwide, and is the primary pulse oximetry in 9 of the top 10 hospitals ranked in the US News and World Report Best Hospitals Honor 2021-22 Roll. Masimo continues to refine SET® and in 2018 announced that SpO2 accuracy on RD SET® Motion sensors have been significantly improved, giving clinicians even greater confidence that the SpO2 values ​​they rely on accurately reflect a patient’s physiological state. In 2005, Masimo introduced Rainbow® Pulse CO-Oximetry technology, enabling 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®), RVi (Rainbow® PVi) and oxygen reserve index (ORi). In 2013, Masimo launched the Root® patient monitoring and connectivity platform, designed from the ground up to be as flexible and expandable as possible to make it easy to add 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. Range of Pulse CO-Oximeters for Continuous and Spot Monitoring from Masimo® includes devices designed for use in a variety of clinical and non-clinical scenarios, including portable wireless technology, such as Radius-7® and PPG Radiusportable devices like Rad-67®fingertip pulse oximeters like MightySat® Rx and devices available for both hospital and home use, such as Rad-97®. Masimo’s hospital automation and connectivity solutions are centered around Masimo Hospital Automation platform, and include Iris® Gateway, iSironaPatient SafetyNet, ReplicaHalo IONUniView®UniView:60and Masimo SafetyNet. Additional information about Masimo and its products is available at www.masimo.com. Published clinical studies on Masimo products are available at www.masimo.com/evidence/featured-studies/feature/.

ORi and RPVi have not received 510(k) clearance from the FDA and are not available for sale in the United States. Use of the Patient SafetyNet trademark is under license from the University HealthSystem Consortium.

Forward-looking statements

All statements other than statements of historical fact 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 statements forward-looking statements, including, in particular, statements regarding our expectations for first-quarter 2022 product revenue and full-year 2022 revenue guidance and the expectation that actions taken to solve production problems will be effective; our long-term prospects; demand for our products; expected revenue and earnings growth; our financial condition, results of operations and business generally; expectations regarding our ability to design and deliver innovative new non-invasive technologies and reduce the cost of care; and demand for our technologies. 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: the completion of normal procedures for reviewing quarterly financial statements; our dependence on Masimo SET® and Masimo Rainbow Bundle products and technologies for almost all of our revenues; any failure to protect our intellectual property exposure from competitors’ intellectual property claims; the highly competitive nature of the markets in which we sell our products and technologies; any failure to pursue the development of innovative products and technologies; lack of acceptance of any of our current or future products and technologies; obtain regulatory approval for our current and future products and technologies; the risk that the implementation of our international realignment will not continue to produce the expected operational and financial benefits, including an ever-lower effective tax rate; the loss of our customers; failure to retain and recruit senior management; exposure to product liability claims; an inability to achieve expected returns on the amount of intangible assets we have recognized; maintaining our brand; the amount and type of equity awards we may grant to employees and service providers in the future; our ongoing litigation and related matters; risks related to global economic market uncertainties related to the impact of the COVID-19 pandemic; 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 Forms 10-K and 10-Q, all of which you may obtain free from 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 to be correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if we subsequently make them available on our website or otherwise. We undertake no obligation to update, modify or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

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.

Comments are closed.