Masimo beats The Street in Q4 to cap off a ‘momentous year’
28 Feb 2023
Acquisition
CEO Joe Kiani, in a news release, described 2022 as a momentous year for the health monitoring tech company. He said Masimo has already completed its integration with Sound United, the maker of high-end sound systems that it acquired for $1.025 billion in April 2022.
“The acquisition has provided us with immediate scale across consumer engineering, sales, marketing and distribution that would have otherwise taken many years of dilutive investment to build. Instead, we’ve already completed the integration and are working to realize the tremendous potential of the hearables, wearables and telemonitoring markets unlocked by our unique combination of healthcare and consumer technology capabilities,” Kiani said.
Other Masimo accomplishments in 2022 included the introduction of new wearable technologies, such as the W1 biosensing watch. In addition, Masimo has made some headway in its patent dispute with Apple. Plus, it has expanded its patient monitoring partnership with Philips.
The Irvine, California–based company earned $41.1 million, or 76¢ per share, off of $617 million in revenue for the quarter that ended Dec. 31, 2022.
Adjusted to exclude one-time items, Masimo had a Q4 EPS of $1.32. The result came in 15¢ ahead of the predictions of Wall Street analysts, who expected earnings per share of $1.17 and $602.49 in revenue.
For full-year 2023, Masimo expects revenue of $2.415–2.460 billion and adjusted EPS of $4.70–4.80. The projection is ahead of the Wall Street consensus.
Investors reacted by sending MASI shares up slightly to $167.33 apiece in after-hours trading.
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