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Masimo Drama Intensifies as Activist Investor Nominates 2 More Directors

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Politan’s Koffey Makes Move to Seize Control of Company

One business day after Masimo Corp. [Nasdaq: MASI] announced plans for a spin-off of its Consumer division, the business unit formed by the acquisition of Sound United, activist investor Politan Capital Management and its CIO Quentin Koffey – a current Masimo Director – announced the nomination of two more independent director candidates for the Board of Directors. In a statement accompanying the announcement, Koffey takes the gloves off alleging Board dysfunction, uncooperative management, and says Kiani’s desire for control “is troubling.”

Pop a fresh bowl of popcorn and settle into a comfortable chair…things are getting pretty interesting in this story of escalating boardroom and management drama.

See more on the rising drama at Masimo

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Masimo Board ‘Authorizes’ Management to Prepare Spin-Off of Consumer Unit

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BREAKING NEWS

Masimo home page

In a release distributed late in the day on Friday after the close of financial markets, Masimo announced that the Board of Directors has “authorized” company management to prepare a spin-off of the company’s Consumer Business. Masimo Consumer is the business unit created when the company acquired Sound United in early 2022.

See more on Masimo spinning off the Consumer division

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Masimo Fiscal 2023 Q4 & Full Year Results Show Continued Drop in Consumer Spending on Audio

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Masimo Fiscal 2023 results

Masimo Corporation (Nasdaq: MASI) announced on Tuesday its financial results for the fourth quarter and full year of fiscal 2023, the period that ended December 30, 2023. Results were mixed with revenues down double digits in the quarter but flat for the year. But a more sobering picture emerged for the “non-healthcare” division, also known as Masimo Consumer, which is the division that was formed when the company acquired Sound United almost exactly two years ago.

Learn more about the Masimo results for fiscal 2023 and the fourth quarter

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Nailed It! Masimo Preliminary Results for Fiscal ’23 Q4 & Full Year are Within Guidance

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Masimo logo

Will Exclude Apple Litigation Fees from Future Guidance

On Wednesday, Masimo Corporation (NASAQ: MASI) released preliminary results for its Fiscal 2023 fourth quarter and full-year results and issued new guidance representing its outlook for Fiscal 2024. Even though its final results won’t be announced until next month (February) the company has enough information to issue these preliminary results now, giving investors a better picture of how their fiscal quarter and year will end.

Masimo also announced it would change its formulation for future guidance by excluding the extensive costs associated with its litigation with Apple.

See more on this report from Masimo

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Apple Watch Ban Takes Effect as White House Declines to Veto USITC Action

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This image is now the top graphic on the Apple Watch product page. It is the SE entry-level model that has been in the line for some time now [Click to enlarge]

Apple Files Emergency Request to Appeals Court to Halt Ban

UPDATE: See the latest news that broke the day after this story was posted at the bottom of this story…

The Masimo vs. Apple saga continues as the ban on Apple Watch models that the U.S. International Trade Commission (USITC) declared infringed on multiple Masimo Corp. (NASDAQ: MASI) patent claims is now in full force as the Biden Administration declined to veto the USITC decision. Apple’s (NASDAQ: AAPL) hopes for a presidential intervention countermanding the USITC ban from taking effect were dashed as the Presidential Review period expired at the end of Monday – yes, Christmas Day – with no action taken by the White House.

Speaking for the Biden Administration Tuesday morning, Katherine Tai, the U.S. Trade Representative said the government “decided not to reverse the ban following careful consultations.” With that, the Apple Watch ban took full effect.

See more on what happens now in this Masimo vs. Apple patent battle

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Masimo vs. Apple – An Unusual Wince of Pain as Tech Giant Pulls Watch Off Market

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Apple Series 9 Watch model
From the top of the Watch page on Apple.com – The Series 9 model is within days of being banned from sale in the U.S. [Click to enlarge]

Apple Inc. (NASDAQ: AAPL) announced that this week it was preemptively removing certain models of its Apple Watch line from its online store on Thursday, and from its physical retail stores by December 24th. The products affected by this action are the Series 9 and Ultra 2 Watch models which include pulse oximetry technology that the U.S. International Trade Commission (ITC) determined infringed on patents held by Masimo Corp. (NASDAQ: MASI).

See more on Apple being forced to pull Watch models off the shelf

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Masimo vs Apple – After Early Success, The Wind Shifts… And It’s a Foul Wind

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What a year it’s been for Masimo Corporation (NASDAQ: MASI), the manufacturer of medical products sold largely to hospitals and other healthcare systems who is also the owner of Sound United, a leading manufacturer of audio products. Simply saying they’ve been through highs and lows would understate the high drama in which the company has been immersed this past year – not the least of which is embodied by its deathmatch with Apple, Inc., the largest company in the world. Apple is also regularly ranked as the most profitable company in the world – a well-resourced adversary to engage thoughtfully…and carefully.

Some impressive early Masimo wins in this battle with Apple, however, seemed to suggest that the tech behemoth was losing its balance and the altercation might be winnable by its much smaller rival. But then…

But then the wind shifted, and recent events suggest it’s a foul wind indeed…

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Masimo Says Fiscal ’23 Q3 Results Hit By Tough Post-COVID Trends & Slack Consumer Demand

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Masimo cover page of its Fiscal 2023 Q3 earnings report

Double-Digit Percentage Declines in Revenues & Profits

Without a doubt, Fiscal 2023 has been a challenging year for Masimo in many ways. And this week, as the company reported its results for the third quarter (Q3) that ended on September 30, 2023, that reality couldn’t be any clearer. With revenues down 13% and net income down more than 72%, about all the company could say is – wait until next year…it is going to be great.

Learn more about the Masimo fiscal ’23 Q3 earnings report

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In Huge Win for Masimo, ITC Bans Certain Apple Watch Imports for Trade Law Violations

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Masimo Freedom Watch

Masimo Corporation (NASDAQ: MASI) scored a big win Thursday in its ongoing battles with Apple, Inc. when the United States International Trade Commission (USITC or ITC) sided largely with Masimo and issued a Limited Exclusion Order and a Cease and Desist Order against certain Apple Watch models that infringe on select Masimo patents. This exclusion order bans the import of those models that incorporate Masimo’s patented light-based pulse oximetry technology in violation of U.S. trade laws.

See more on Masimo’s stunning ITC victory over Apple

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Masimo CEO: ‘We are Disappointed with Our Results This Quarter’

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Masimo slide from their Q2 fiscal '23 quarterly earnings presentation

Masimo Corporation (Nasdaq: MASI) (Masimo) announced the final financial results for the second quarter of fiscal 2023, the 90-day period that ended on July 1, 2023. About three weeks ago, the company released a preliminary report on the quarter, alerting investors to an unexpected drop in revenues. As they predicted, revenues did decline, although not as poorly as they suggested might be the case.

See the actual Masimo results for the second quarter of fiscal 2023

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