Masimo Corp Files 10-Q for Q2 2024

TL;DR

**MASI 10-Q FILED: Q2 2024 financials are in. Check for revenue, expenses, and balance sheet details.**

AI Summary

Masimo Corporation filed its 10-Q for the period ending June 29, 2024, reporting on its financial performance and business operations. The filing details the company's financial position, including assets, liabilities, and equity, as well as its revenues and expenses for the quarter. Specific financial figures and operational highlights are provided within the document, offering insight into the company's recent activities and its outlook.

Why It Matters

This 10-Q filing provides investors and analysts with a detailed look at Masimo Corp's financial health and operational performance for the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures for public companies, but the specific financial details and operational updates within can reveal significant risks or opportunities.

Key Numbers

• 2024 Q2 — Reporting Period (Financials cover the second quarter of 2024.)
• 20240629 — Fiscal Period End (The 10-Q covers financial data up to this date.)
• 20240807 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• MASIMO CORP (company) — Filer of the 10-Q
• 20240629 (date) — End of the reporting period
• 20240807 (date) — Filing date of the 10-Q
• 949-297-7000 (phone_number) — Masimo Corp business phone number

FAQ

Key Financial Figures

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

Filing Documents

• masi-20240629.htm (10-Q) — 2446KB
• masi-20240629x10qex211.htm (EX-21.1) — 53KB
• masi-20240629x10qex311.htm (EX-31.1) — 9KB
• masi-20240629x10qex312.htm (EX-31.2) — 9KB
• masi-20240629x10qex321.htm (EX-32.1) — 9KB
• masi-20240629_g1.jpg (GRAPHIC) — 199KB
• 0000937556-24-000064.txt ( ) — 12732KB
• masi-20240629.xsd (EX-101.SCH) — 79KB
• masi-20240629_cal.xml (EX-101.CAL) — 130KB
• masi-20240629_def.xml (EX-101.DEF) — 387KB
• masi-20240629_lab.xml (EX-101.LAB) — 972KB
• masi-20240629_pre.xml (EX-101.PRE) — 701KB
• masi-20240629_htm.xml (XML) — 1882KB

Financial Information

PART I. Financial Information

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of June 29 , 2024 and December 30, 2023 3 Condensed Consolidated Statements of Operations for the three and six months ended June 2 9 , 2024 and July 1, 2023 4 Condensed Consolidated Statements of Comprehensive Loss for the three and six months ended June 29, 2024 and July 1, 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 29 , 2024 and July 1, 2023 6 Condensed Consolidated Statements of Cash Flows for the six months June 29 , 2024 and July 1, 2023 8 Notes to Condensed Consolidated Financial Statements 9

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 48

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 58

Controls and Procedures

Item 4. Controls and Procedures 59

Other Information

PART II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 59

Risk Factors

Item 1A. Risk Factors 60

Other Information

Item 5. Other Information 95

Exhibits

Item 6. Exhibits 96

Signatures

Signatures 97 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) June 29, 2024 December 30, 2023 ASSETS Current assets Cash and cash equivalents $ 129.6 $ 163.0 Trade accounts receivable, net of allowance for credit losses of $ 4.9 million and $ 4.8 million at June 29, 2024 and December 30, 2023, respectively 337.7 355.5 Inventories 513.0 545.0 Other current assets 161.9 168.4 Total current assets 1,142.2 1,231.9 Lease receivable, non-current 66.5 71.4 Deferred costs and other contract assets 58.8 57.3 Property and equipment, net 413.9 424.4 Customer relationships, net - (Note 9) 162.2 177.7 Acquired technologies, net - (Note 9) 112.0 129.4 Other intangible assets, net - (Note 9) 116.3 112.8 Trademarks - (Note 9) 215.6 232.4 Goodwill 389.0 407.7 Deferred tax assets 107.0 107.2 Other non-current assets 110.4 89.3 Total assets $ 2,893.9 $ 3,041.5 LIABILITIES AND STOCKHOLDERS ' EQUITY Current liabilities Accounts payable $ 216.0 $ 251.5 Accrued compensation 72.2 62.6 Deferred revenue and other contract liabilities, current 79.8 87.3 Other current liabilities 178.2 162.4 Total current liabilities 546.2 563.8 Long-term debt 746.5 871.7 Deferred tax liabilities 102.1 111.7 Other non-current liabilities 130.3 129.5 Total liabilities 1,525.1 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; 53.2 million and 52.8 million shares issued and outstanding at June 29, 2024 and December 30, 2023, respectively 0.1 0.1 Treasury stock, 19.5 million and 19.5 million shares at June 29, 2024 and December 30, 2023, respectively ( 1,169.2 ) ( 1,169.2 ) Additional paid-in capital 810.6 783.4 Accumulated other comprehensive loss ( 103.4 ) ( 45.3 ) Retained earnings 1,830.7 1,795.8 Total

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View this 10-Q filing on SEC EDGAR