Masimo Corp Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Masimo Corp has filed its quarterly report (10-Q) for the period ending March 30, 2024, providing an update on its financial standing.</b>

AI Summary

MASIMO CORP (MASI) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Masimo Corp filed a 10-Q report for the period ending March 30, 2024. The filing details financial information for the first quarter of 2024. The company's principal executive offices are located in Irvine, CA. Masimo Corp operates in the Electromedical & Electrotherapeutic Apparatus industry. The report includes data related to common stock, treasury stock, and retained earnings.

Why It Matters

For investors and stakeholders tracking MASIMO CORP, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and position of Masimo Corp, crucial for investment decisions. Understanding the details within this report allows stakeholders to assess the company's operational health and future prospects.

Risk Assessment

Risk Level: medium — MASIMO CORP shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial disclosures. However, the absence of specific financial performance metrics in the provided header data prevents a more detailed risk assessment.

Analyst Insight

Review the full 10-Q filing for detailed financial statements, management discussion, and risk factors to understand Masimo Corp's current performance and outlook.

Key Numbers

• 2024-03-30 — Report Period End Date (Conformed Period of Report)
• 2024-05-07 — Filing Date (Filed As Of Date)
• 1228 — Fiscal Year End (Fiscal Year End)
• 001-33642 — SEC File Number (SEC File Number)

Key Players & Entities

• MASIMO CORP (company) — Filer
• 0000937556 (company) — Central Index Key
• 3845 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• IRVINE (company) — Business Address City
• CA (company) — Business Address State
• 92618 (company) — Business Address Zip
• 949-297-7000 (company) — Business Phone

FAQ

Industry Context

Masimo Corp operates within the Electromedical & Electrotherapeutic Apparatus industry, a sector focused on medical devices and equipment.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue, expenses, and profitability.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business performance and outlook.
3. Examine the Risk Factors section for any new or updated risks identified by the company.

Key Dates

• 2024-03-30: Quarterly Report Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 2023 annual report (10-K).

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value MASI The Nasdaq Stock Marke

Filing Documents

• masi-20240330.htm (10-Q) — 2208KB
• masi-20240330x10qex311.htm (EX-31.1) — 9KB
• masi-20240330x10qex312.htm (EX-31.2) — 9KB
• masi-20240330x10qex321.htm (EX-32.1) — 9KB
• masi-20240330_g1.jpg (GRAPHIC) — 199KB
• 0000937556-24-000042.txt (&nbsp;) — 12036KB
• masi-20240330.xsd (EX-101.SCH) — 79KB
• masi-20240330_cal.xml (EX-101.CAL) — 132KB
• masi-20240330_def.xml (EX-101.DEF) — 381KB
• masi-20240330_lab.xml (EX-101.LAB) — 963KB
• masi-20240330_pre.xml (EX-101.PRE) — 690KB
• masi-20240330_htm.xml (XML) — 1749KB

Financial Information

PART I. Financial Information

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of March 30, 2024 and December 30, 2023 3 Condensed Consolidated Statements of Operations for the three months ended March 30, 2024 and April 1, 2023 4 Condensed Consolidated Statements of Comprehensive Loss for the three months ended March 30, 2024 and April 1, 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 30, 2024 and April 1, 2023 6 Condensed Consolidated Statements of Cash Flows for the three months March 30, 2024 an d April 1 , 2023 7 Notes to Condensed Consolidated Financial Statements 8

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 45

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 52

Controls and Procedures

Item 4. Controls and Procedures 54

Other Information

PART II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 54

Risk Factors

Item 1A. Risk Factors 54

Other Information

Item 5. Other Information 87

Exhibits

Item 6. Exhibits 88

Signatures

Signatures 89 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements MASIMO CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited, in millions, except par values) March 30, 2024 December 30, 2023 ASSETS Current assets Cash and cash equivalents $ 157.6 $ 163.0 Trade accounts receivable, net of allowance for credit losses of $ 4.7 million and $ 4.8 million at March 30, 2024 and December 30, 2023, respectively 330.7 355.5 Inventories 506.1 545.0 Assets held for sale 11.4 — Other current assets 159.8 168.4 Total current assets 1,165.6 1,231.9 Lease receivable, non-current 70.3 71.4 Deferred costs and other contract assets 57.9 57.3 Property and equipment, net 415.0 424.4 Customer relationships, net - (Note 9) 169.3 177.7 Acquired technologies, net - (Note 9) 119.9 129.4 Other intangible assets, net - (Note 9) 124.0 112.8 Trademarks - (Note 9) 222.7 232.4 Goodwill 396.0 407.7 Deferred tax assets 107.1 107.2 Other non-current assets 109.9 89.3 Total assets $ 2,957.7 $ 3,041.5 LIABILITIES AND STOCKHOLDERS ' EQUITY Current liabilities Accounts payable $ 203.1 $ 251.5 Accrued compensation 65.2 62.6 Deferred revenue and other contract liabilities, current 70.0 87.3 Other current liabilities 165.9 162.4 Total current liabilities 504.2 563.8 Long-term debt 841.4 871.7 Deferred tax liabilities 106.9 111.7 Other non-current liabilities 140.0 129.5 Total liabilities 1,592.5 1,676.7 Commitments and contingencies - (Note 24) Stockholders' equity Preferred stock, $ 0.001 par value; 5.0 million shares authorized; 0 shares issued and outstanding — — Common stock, $ 0.001 par value; 100.0 million shares authorized; 53.1 million and 52.8 million shares issued and outstanding at March 30, 2024 and December 30, 2023, respectively 0.1 0.1 Treasury stock, 19.5 million and 19.5 million shares at March 30, 2024 and December 30, 2023, respectively ( 1,169.2 ) ( 1,169.2 ) Additional paid-in capital 794.9 783.4 Accumulated other comprehensive loss ( 75.3 ) ( 45.3 ) Retained ea

View Full Filing

View this 10-Q filing on SEC EDGAR