Masimo(MASI)2025-02-25 21:07Revenue Projections - Consolidated revenue for full-year 2024 is expected to be approximately $2,094 million, representing 2% growth on a reported basis and 3% growth on a constant currency basis[7]. - Healthcare revenue for full-year 2024 is expected to be approximately $1,395 million, representing 9% growth on a reported basis and 10% growth on a constant currency basis[7]. - Non-healthcare revenue for full-year 2024 is expected to be approximately $699 million, representing a 10% decline on a reported basis and a 9% decline on a constant currency basis[7]. - Full-year 2025 guidance for healthcare revenue is projected to be between $1,500 million and $1,530 million, representing 8% to 11% growth on a constant currency basis[7]. - Full-Year 2025 GAAP healthcare revenue guidance is projected between $1,500 million and $1,530 million, indicating a growth of 8% to 10% compared to $1,395 million in 2024[34]. Earnings and Profitability - Non-GAAP earnings per diluted share for full-year 2024 is expected to be more than $4.10, which represents the high end of the prior guidance range[7]. - Non-GAAP operating profit for full-year 2025 is expected to be between $398 million and $406 million, representing non-GAAP operating margins of at least 26.5%[7]. Quarterly Financial Results - GAAP consolidated revenue for the three months ended December 28, 2024, was $601 million, representing a 9% increase from $549 million in the same period of 2023[29]. - GAAP healthcare revenue for the twelve months ended December 28, 2024, was $1,395 million, showing a 9% growth from $1,275 million in 2023[30]. - GAAP non-healthcare revenue for the three months ended December 28, 2024, was $232 million, reflecting an 11% growth compared to $209 million in the same period of 2023[27]. - Non-GAAP consolidated constant currency revenue for the twelve months ended December 28, 2024, was $2,102 million, a 3% increase from $2,048 million in 2023[33]. - Non-GAAP non-healthcare constant currency revenue for the twelve months ended December 28, 2024, was $702 million, reflecting a decline of 9% from $773 million in 2023[31]. - Non-GAAP healthcare constant currency revenue for the twelve months ended December 28, 2024, was $1,400 million, indicating a 10% growth compared to $1,275 million in 2023[30]. Business Developments - The company is in the process of separating the Sound United business, which will not be included in future non-GAAP financial measures[5]. - The financial impact of one additional calendar week for the healthcare business is incorporated into the full-year 2025 guidance[5]. - Shipments of noninvasive technology boards and instruments for fourth quarter 2024 are expected to be approximately 65 thousand[7]. - The complete fourth quarter and full-year 2024 financial results will be announced on February 25, 2025[1]. Innovation and Market Strategy - The company’s innovative technologies, such as Masimo SET and rainbow Pulse CO-Oximetry, are utilized in over 200 million patients globally, enhancing patient outcomes and reducing care costs[35]. - The company continues to expand its product offerings, including the Masimo W1 Medical Watch and various portable monitoring devices, to enhance non-invasive monitoring capabilities[35]. - The company’s revenue growth strategies include focusing on healthcare technology advancements and market expansion efforts in both hospital and home settings[35].