Masimo Corporation (NASDAQ:MASI) Q4 2021 Earnings Conference Call February 15, 2022 4:30 PM ET Company Participants Eli Kammerman – Vice President-Business Development and Investor Relations Joe Kiani – Chairman and Chief Executive Officer Micah Young – Executive Vice President and Chief Financial Officer Conference Call Participants Matt Taylor – UBS Rick Wise – Stifel Mike Matson – Needham & Company Jason Bednar – Piper Sandler Jayson Bedford – Raymond James Operator Good afternoon, ladies and gentlemen, ...

Masimo Corporation (NASDAQ:MASI) Q3 2021 Earnings Conference Call October 26, 2021 4:30 PM ET Company Participants Eli Kammerman - Vice President of Business Development & Investor Relations Joe Kiani - Chairman & Chief Executive Officer Micah Young - Executive Vice President & Chief Financial Officer Conference Call Participants Rick Wise - Stifel Jason Bednar - Piper Sandler Ravi Misra - Berenberg Capital Mike Polark - Baird Marie Thibault - BTIG Michael Matson - Needham & Company Jayson Bedford - Raymond ...

Improving Patient Outcomes Reducing the Cost of Care® Third Quarter 2021 Earnings Presentation | October 26, 2021 FORWARD-LOOKING STATEMENTS 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," "work toward," and similar expressions to identify forward-looking statements. All statements other than statements of histori ...

Financial Data and Key Metrics Changes - For Q2 2021, product revenues increased to $305 million compared to $301 million in the prior year period, reflecting strong revenue performance despite tough year-over-year comparisons [16] - Non-GAAP EPS grew by 11% to $0.94 per diluted share, up from $0.85 in the prior year quarter [22] - Non-GAAP gross margin increased by 80 basis points to 64.7% compared to 63.9% in the prior year period, driven by a favorable revenue mix [19][20] - GAAP net income for Q2 2021 was $50.2 million, or $0.88 per diluted share, down from $55.8 million, or $0.96 per diluted share in Q2 2020 [23] Business Line Data and Key Metrics Changes - Worldwide sales of single-patient use adhesive sensors were up 35% versus the prior year period, indicating a strong rebound in sensor sales [18] - Shipments of technology boards and instruments were 72,500, exceeding the estimate of 60,000 for the quarter [15] - The installed base grew approximately 11% compared to the end of Q2 2020, indicating strong growth in monitor installations [15] Market Data and Key Metrics Changes - The company observed a substantial increase in hospital census and steady expansion of monitoring in hospitals, leading to increased sensor sales [13] - The recovery in elective surgeries is expected to continue as COVID hospitalizations recede, contributing to higher sensor volumes [10][33] Company Strategy and Development Direction - The company is focused on long-term sustainable growth through increased sensor sales and improved patient care [11] - Management anticipates that investments in equipment under new contracts will lead to higher sensor volumes and increased margins over time [20] - The company plans to launch new innovations over the next 12 months, aiming to enhance its product offerings and market position [38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in hospital sensor usage and the return to normalcy in most markets by year-end [33] - The company is cautious about the impact of the Delta variant but does not anticipate significant disruptions to elective surgeries [52] - Guidance for 2021 was increased to $1.216 billion in product revenue, reflecting a year-over-year growth of 6.3% [25] Other Important Information - The company is facing gross margin pressures due to the adoption of ASC 842 accounting standards, which impacts the recognition of margins upon equipment installation [20][41] - The company is involved in legal proceedings against Apple, with projected legal expenses related to this case expected to be around $5 million for the year [90] Q&A Session Summary Question: Impact of accounting change on gross margins - Management indicated that the headwinds from the accounting change were over 160 basis points for the quarter, affecting gross margins [42] Question: Concerns about COVID and future guidance - Management noted that the Delta variant is not significantly impacting vaccinated individuals, and they expect continued recovery in elective surgeries [52] Question: Future gross margin expectations - Management suggested that gross margins could approach 70% if no new customers are signed, but new customer installations may create temporary pressure [49] Question: Contribution of new products to revenue - New product launches, including the opioid SafetyNet, are expected to contribute positively, although initial revenues are negligible [63] Question: International expansion and new contracts - The company is making progress in international markets, with recent reimbursement successes in Korea [120]

Improving Patient Outcomes Reducing the Cost of Care® Second Quarter 2021 Earnings Presentation | July 27, 2021 FORWARD-LOOKING STATEMENTS 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," "work toward," and similar expressions to identify forward-looking statements. All statements other than statements of historica ...

Improving Patient Outcomes Reducing the Cost of Care® First Quarter 2021 Earnings Presentation | April 26, 2021 FORWARD-LOOKING STATEMENTS 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," "work toward," and similar expressions to identify forward-looking statements. All statements other than statements of historica ...

Masimo Corporation (NASDAQ:MASI) Q1 2021 Earnings Conference Call April 26, 2021 4:30 PM ET Company Participants Eli Kammerman - Vice President of Business Development and Investor Relations Joe Kiani - Chairman and Chief Executive Officer Micah Young - Executive Vice President and Chief Financial Officer Conference Call Participants Lawrence Keusch - Raymond James Rick Wise - Stifel Matthew Taylor - UBS Jason Bednar - Piper Sandler Michael Polark - Baird Ravi Misra - Berenberg Marie Thibault - BTIG Michael ...

Financial Data and Key Metrics Changes - For Q4 2020, product revenues increased by 19% to $295 million, while full-year product revenues rose by 22% to $1.144 billion [16][35] - Non-GAAP net income for Q4 was $57.3 million or $0.98 per diluted share, reflecting an 8% increase from the previous year [33] - GAAP net income for Q4 was $70.7 million or $1.21 per diluted share, a 32% increase year-over-year [34] Business Line Data and Key Metrics Changes - Worldwide sales of technology boards and instruments increased by 67%, driven by demand for Masimo SET pulse oximeters [26] - Sales of single patient use adhesive sensors grew by 7% as elective procedures began to recover [26] - OEM business revenues grew by 7% to $34 million, while direct and distribution business revenues increased by 21% to $261 million [26] Market Data and Key Metrics Changes - The installed base of technology boards and instruments grew approximately 17% compared to Q4 2019 [24] - The company shipped 83,000 noninvasive technology boards and instruments in Q4, and 472,000 for the full year, nearly double the normal run rate [24] Company Strategy and Development Direction - The company is focused on expanding its product portfolio, including the introduction of Masimo SafetyNet for hospital-to-home monitoring and other innovative solutions [14][15] - The acquisition of LiDCO is expected to contribute to revenue growth and enhance the company's offerings in hemodynamic monitoring [36][100] - The company aims to improve patient outcomes and reduce the cost of care through innovative technologies and solutions [23][63] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the ongoing challenges posed by the COVID-19 pandemic and highlighted a strong foundation for future growth [23][44] - The company anticipates mid-single-digit revenue growth and double-digit operating profit dollar growth for 2021, despite tough year-over-year comparisons [44] - Management noted that the demand for monitoring technologies remains strong, with expectations for significant growth in adhesive sensor sales due to pent-up demand for elective procedures [66] Other Important Information - Non-GAAP gross margins for Q4 decreased to 63.5% from 67.5% in the prior year, primarily due to a higher proportion of revenue from lower-margin technology boards and instruments [27] - The company repurchased approximately 450,000 shares of common stock during Q4 [42] Q&A Session Summary Question: How to understand underlying growth against challenging comps in 2021? - Management highlighted a 17% increase in drivers and noted that hospitals are utilizing these drivers, which bodes well for adhesive sensor sales [65][66] Question: Any revenues assumed in guidance for the opioid SafetyNet? - No revenues are included in the guidance for the year regarding the opioid SafetyNet [70] Question: What is the demand for Masimo SafetyNet and future expansion? - Demand saw a modest increase of 20%-30% in Q4, with nearly 200 hospitals using the product [98] Question: Financial impact of hospital automation in 2021? - Management did not disclose specific revenues from hospital automation but indicated it is a growing area [90] Question: Will inventory levels normalize in 2021? - Management expects inventory levels to decrease as they approach more normalized levels throughout 2021 [93] Question: Risks related to global chip shortages? - Management acknowledged potential impacts from chip shortages but expressed confidence in their ability to manage supply [118]

Improving Patient Outcomes Reducing the Cost of Care® Fourth Quarter 2020 Earnings Presentation | February 23, 2021 FORWARD-LOOKING STATEMENTS 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," "work toward," and similar expressions to identify forward-looking statements. All statements other than statements of histo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________________________ FORM 10-K ________________________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 2, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Co ...