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.
Sound United
Nailed It! Masimo Preliminary Results for Fiscal ’23 Q4 & Full Year are Within Guidance
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
[Read more…] about Nailed It! Masimo Preliminary Results for Fiscal ’23 Q4 & Full Year are Within GuidanceMasimo Says Fiscal ’23 Q3 Results Hit By Tough Post-COVID Trends & Slack Consumer Demand
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
[Read more…] about Masimo Says Fiscal ’23 Q3 Results Hit By Tough Post-COVID Trends & Slack Consumer DemandMasimo CEO: ‘We are Disappointed with Our Results This Quarter’
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
[Read more…] about Masimo CEO: ‘We are Disappointed with Our Results This Quarter’Masimo Stock Value Crashes After Prelim Q2 Warning of Revenue Decline
BREAKING NEWS
After the close of markets on Monday, Masimo Corporation (Nasdaq: MASI) took the unusual step of issuing a press release announcing preliminary results for its fiscal 2023 second quarter, the quarter that ended July 1, 2023. The release warned investors that the company expected to report a revenue decline in the quarter…a pretty significant revenue decline. But perhaps even more impactful than that, the company went on to add that it is forced to revise downward its forward guidance for the full Fiscal 2023 annual results. The value of MASI stock crashed nearly 26% in an early evening reading of after-hours trading in the stock.
See more on this surprising announcement from Masimo on Q2 results
[Read more…] about Masimo Stock Value Crashes After Prelim Q2 Warning of Revenue DeclineMasimo Shareholders Elect Politan Nominees to Board; Sound United Future is Cloudy
Masimo Corp. [NASDAQ: MASI] shareholders voted to elect two new independent board candidates nominated by activist investor Politan Capital Management, including Politan’s Chief Investment Officer Quentin Koffey, as reported by Reuters. The election took place on Monday, June 26th at the annual stockholder’s meeting, and it was announced late in the day that the Politan candidates prevailed.
The news is a shocking repudiation of the existing Masimo Board and CEO Joe Kiani – and it puts Sound United’s future with the company in serious doubt.
Learn more about Masimo stockholders voting with Politan
[Read more…] about Masimo Shareholders Elect Politan Nominees to Board; Sound United Future is CloudyMasimo Launches Denon PerL™ & PerL Pro™ Earbuds with Proprietary Tech
Masimo Corp. [Nasdaq: MASI] announced on Wednesday the launch of two new earbuds under the Denon brand called PerL™ and PerL Pro™. The company says these new True Wireless earbuds feature a proprietary technology called Masimo Adaptive Acoustic Technology™ (AAT™) that optimizes the sound for each individual’s ear.
Learn more on Denon PerL™ and PerL Pro™ w/Masimo AAT™
[Read more…] about Masimo Launches Denon PerL™ & PerL Pro™ Earbuds with Proprietary TechMasimo Hails ‘Momentous Year’ in Fiscal ’22 with Revenue Gains From Sound United Acquisition
But Was It Truly a Momentous Year?
On Tuesday, Masimo Corporation (Masimo) (NASDAQ: MASI) announced the results for its fiscal 2022 fourth quarter and full-year periods. Calling 2022 a “momentous year” for the company, management noted strong revenue growth – mostly from its acquisition of Sound United – as well as several adjusted figures exceeding forecast.
Learn more about Masimo’s results and see what they said about Denon and Marantz performance…
[Read more…] about Masimo Hails ‘Momentous Year’ in Fiscal ’22 with Revenue Gains From Sound United AcquisitionMasimo, Parent of Sound United, Scores Big Win in Patent Action Against Apple
Masimo (NASDAQ: MASI), a medical products manufacturer who also owns audio products maker Sound United, said this week that a U.S. International Trade Commission (USITC) Administrative Law Judge in Washington D.C. has ruled that Apple, Inc. (NASDAQ: AAPL) has violated Section 337 of the Tariff Act of 1930 by importing and selling models of their Apple Watch that incorporate light-based pulse oximetry technology that infringes on two of Masimo’s patents. Apple first introduced its pulse oximeter sensor in their Apple Watch Series 6 in 2020 and continues to incorporate it into models up to the current series.
See more on the Masimo patent win over Apple
[Read more…] about Masimo, Parent of Sound United, Scores Big Win in Patent Action Against AppleMasimo, Sound United Parent, to Expand Denon’s HEOS System
Company Finally Gives a Glimpse of Its Sound United Strategy
In what may turn out to be the best test yet of Masimo’s long-term plans for Sound United, the company announced today that it is launching an expansion of HEOS, the wireless home system initially developed by the company’s Denon division as part of a whole-home wireless music system. When Masimo acquired Sound United back in February of this year, Denon’s “cloud-connected home ecosystem” was one of the items it specifically mentioned as what attracted them to make the acquisition.
With today’s announcement, the company says that the launch of this “…expansion of the HEOS platform [will] provide a robust and always-on connection to the Masimo Health secure cloud.”