Masimo Corp Files 2023 Annual Report on Form 10-K

Ticker: MASI · Form: 10-K · Filed: Feb 28, 2024 · CIK: 937556

Masimo CORP 10-K Filing Summary
FieldDetail
CompanyMasimo CORP (MASI)
Form Type10-K
Filed DateFeb 28, 2024
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$0.001 M
Sentimentneutral

Sentiment: neutral

Topics: 10-K, Masimo Corp, Annual Report, Financials, SEC Filing

TL;DR

<b>Masimo Corp has filed its 2023 10-K report detailing its financial performance and business operations.</b>

AI Summary

MASIMO CORP (MASI) filed a Annual Report (10-K) with the SEC on February 28, 2024. Masimo Corp filed its 10-K for the fiscal year ending December 30, 2023. The filing covers the period from January 1, 2023, to December 30, 2023. The company's principal business address is 52 Discovery, Irvine, CA 92618. Masimo Corp's IRS number is 330368882. The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking MASIMO CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Masimo Corp's financial health and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. The detailed financial information within the 10-K allows stakeholders to understand the company's revenue streams, expenses, assets, liabilities, and overall profitability, enabling informed investment decisions.

Risk Assessment

Risk Level: low — MASIMO CORP shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Masimo Corp's performance and potential challenges in fiscal year 2023.

Key Numbers

Key Players & Entities

FAQ

When did MASIMO CORP file this 10-K?

MASIMO CORP filed this Annual Report (10-K) with the SEC on February 28, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by MASIMO CORP (MASI).

Where can I read the original 10-K filing from MASIMO CORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by MASIMO CORP.

What are the key takeaways from MASIMO CORP's 10-K?

MASIMO CORP filed this 10-K on February 28, 2024. Key takeaways: Masimo Corp filed its 10-K for the fiscal year ending December 30, 2023.. The filing covers the period from January 1, 2023, to December 30, 2023.. The company's principal business address is 52 Discovery, Irvine, CA 92618..

Is MASIMO CORP a risky investment based on this filing?

Based on this 10-K, MASIMO CORP presents a relatively low-risk profile. The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

What should investors do after reading MASIMO CORP's 10-K?

Review the detailed financial statements and risk factors within the 10-K to understand Masimo Corp's performance and potential challenges in fiscal year 2023. The overall sentiment from this filing is neutral.

How does MASIMO CORP compare to its industry peers?

Masimo Corp operates in the electromedical and electrotherapeutic apparatus industry, focusing on noninvasive monitoring technologies.

Are there regulatory concerns for MASIMO CORP?

The filing is a standard 10-K under the Securities Exchange Act of 1934, requiring public companies to report annual financial information.

Industry Context

Masimo Corp operates in the electromedical and electrotherapeutic apparatus industry, focusing on noninvasive monitoring technologies.

Regulatory Implications

The filing is a standard 10-K under the Securities Exchange Act of 1934, requiring public companies to report annual financial information.

What Investors Should Do

  1. Analyze the financial statements for revenue, net income, and other key performance indicators.
  2. Review the business description and risk factors to understand operational and market dynamics.
  3. Check for any executive compensation details or significant corporate governance changes.

Key Dates

Year-Over-Year Comparison

This is the initial filing of the 2023 10-K report, providing the first official look at the company's performance for the fiscal year ending December 30, 2023.

Filing Stats: 4,282 words · 17 min read · ~14 pages · Grade level 19.9 · Accepted 2024-02-28 17:31:44

Key Financial Figures

Filing Documents

Risk Factors

Item 1A Risk Factors 33

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 67

Cybersecurity

Item 1C Cybersecurity 67

Properties

Item 2 Properties 68

Legal Proceedings

Item 3 Legal Proceedings 68

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 68 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and

Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 69

[Reserved]

Item 6 [Reserved] 71

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 72

Quantitative and Qualitative Disclosures about Market Risk

Item 7A Quantitative and Qualitative Disclosures about Market Risk 86

Financial Statements and Supplementary Data

Item 8 Financial Statements and Supplementary Data 87

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 87

Controls and Procedures

Item 9A Controls and Procedures 87

Other Information

Item 9B Other Information 88

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 88 PART III

Directors, Executive Officers and Corporate Governance

Item 10 Directors, Executive Officers and Corporate Governance 88

Executive Compensation

Item 11 Executive Compensation 88

Security Ownership of Certain Beneficial Owners and Management and

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 88

Certain Relationships and Related Transactions and Director Independence

Item 13 Certain Relationships and Related Transactions and Director Independence 88

Principal Accounting Fees and Services

Item 14 Principal Accounting Fees and Services 88 PART IV

Exhibits and Financial Statement Schedules

Item 15 Exhibits and Financial Statement Schedules 89

Form 10-K Summary

Item 16 Form 10-K Summary 93

Signatures

Signatures 94 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains "forward-looking statements" that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause our results to differ materially and adversely from those expressed or implied by such forward-looking statements. The forward-looking statements are contained principally in Item 1—"Business," Item 1A—"Risk Factors" and Item 7—"Management's Discussion and Analysis of Financial Condition and Results of Operations" but appear throughout this Annual Report on Form 10-K. Examples of forward-looking statements include, but are not limited to, any projection or expectation of earnings, revenue or other financial items; the plans, strategies and objectives of management for future operations; factors that may affect our operating results, including accounting and tax estimates; our success in pending litigation; new products or services; the demand for our products; our ability to consummate acquisitions and successfully integrate them into our operations; future capital expenditures; effects of current or future economic conditions or performance; industry trends and other matters that do not relate strictly to historical facts or statements of assumptions underlying any of the foregoing. These statements are often identified by the use of words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "opportunity," "plan," "potential," "predicts," "seek," "should," "will," or "would," and similar expressions and variations or negatives of these words. These forward-looking statements are based on the expectations, estimates, projections, beliefs and assumptions of our management based on information currently available to management, all of which is subject to change. Such forward-looking statements are subject to risks, uncertainties and other factors that are difficult to predict and could cause our act

BUSINESS

ITEM 1. BUSINESS Overview We are a global technology company dedicated to improving lives. We seek to accelerate our growth strategies and strengthen our focus on patient care via two business segments: healthcare and non-healthcare. We commenced reporting under this new structure effective for the quarter ended July 2, 2022 as a result of the Viper Holdings Corporation d/b/a Sound United acquisition (Sound United acquisition). 1 Table of Contents Healthcare Our healthcare business develops, manufactures and markets a variety of noninvasive patient monitoring technologies, hospital automation and connectivity solutions, remote monitoring devices and consumer health products. Our healthcare products and patient monitoring solutions generally incorporate a monitor or circuit board, proprietary single-patient use or reusable sensors, software, cables and other services. We primarily sell our healthcare products to hospitals, emergency medical service (EMS) providers, home care providers, physician offices, veterinarians, long-term care facilities and consumers through our direct sales force, distributors and original equipment manufacturer (OEM) partners, such as GE Healthcare, Hillrom, Mindray, Philips, Physio-Control, Zoll, among others. Our core measurement technologies are our breakthrough Measure-through Motion and Low Perfusion pulse oximetry, known as Masimo Signal Extraction Technology (SET ) pulse oximetry, and advanced rainbow Pulse CO-Oximetry parameters such as noninvasive hemoglobin (SpHb ), alongside many other modalities, including brain function monitoring, hemodynamic monitoring, regional oximetry, acoustic respiration rate monitoring, capnography and gas monitoring, nasal high-flow respiratory support therapy, patient position and activity tracking, neuromodulation technology, an opioid overdose prevention and alert solution, and telehealth solutions. Our measurement technologies are available on many types of devices, from bedside hospita

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