Masimo Corp Files Q3 2024 10-Q

TL;DR

Masimo Corp's Q3 2024 10-Q is in. Get the latest financials.

AI Summary

Masimo Corporation filed its 10-Q for the period ending September 28, 2024. The filing details the company's financial performance and operational status. Key financial data and business segments are presented, reflecting the company's activities during the third quarter of 2024.

Why It Matters

This filing provides investors and analysts with the latest financial and operational details for Masimo Corp, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures, but the specific financial performance and any new risks mentioned within can significantly impact a company's stock.

Key Numbers

• 2024 Q3 — Reporting Period (Indicates the specific quarter for which financial data is reported.)

Key Players & Entities

• MASIMO CORP (company) — Filer
• 20240928 (date) — Period of Report
• 20241106 (date) — Filed as of Date
• 949-297-7000 (phone_number) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• masi-20240928.htm (10-Q) — 2619KB
• masi-20240928x10qex35.htm (EX-3.5) — 3KB
• masi-20240928x10qex101.htm (EX-10.1) — 72KB
• masi-20240928x10qex102.htm (EX-10.2) — 48KB
• masi-20240928x10qex103.htm (EX-10.3) — 351KB
• masi-20240928x10qex104.htm (EX-10.4) — 17KB
• masi-20240928x10qex105.htm (EX-10.5) — 28KB
• masi-20240928x10qex106.htm (EX-10.6) — 31KB
• masi-20240928x10qex211.htm (EX-21.1) — 53KB
• masi-20240928x10qex311.htm (EX-31.1) — 9KB
• masi-20240928x10qex312.htm (EX-31.2) — 9KB
• masi-20240928x10qex321.htm (EX-32.1) — 9KB
• image_45.jpg (GRAPHIC) — 21KB
• masi-20240928_g1.jpg (GRAPHIC) — 199KB
• 0000937556-24-000109.txt ( ) — 14045KB
• masi-20240928.xsd (EX-101.SCH) — 82KB
• masi-20240928_cal.xml (EX-101.CAL) — 132KB
• masi-20240928_def.xml (EX-101.DEF) — 418KB
• masi-20240928_lab.xml (EX-101.LAB) — 992KB
• masi-20240928_pre.xml (EX-101.PRE) — 729KB
• masi-20240928_htm.xml (XML) — 1985KB

Financial Information

PART I. Financial Information

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of September 28, 2024 and December 30, 2023 3 Condensed Consolidated Statements of Operations for the three and nine months ended September 28, 2024 and September 30, 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended September 28, 2024 and September 30, 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended September 28, 2024 and September 30, 2023 6 Condensed Consolidated Statements of Cash Flows for the nine months ended September 28, 2024 and September 30, 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 51

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 63

Controls and Procedures

Item 4. Controls and Procedures 64

Other Information

PART II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 64

Risk Factors

Item 1A. Risk Factors 65

Other Information

Item 5. Other Information 98

Exhibits

Item 6. Exhibits 99

Signatures

Signatures 101 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) September 28, 2024 December 30, 2023 ASSETS Current assets Cash and cash equivalents $ 158.5 $ 163.0 Trade accounts receivable, net of allowance for credit losses of $ 6.0 million and $ 4.8 million at September 28, 2024 and December 30, 2023, respectively (1) 371.0 355.5 Inventories 569.9 545.0 Other current assets 180.5 168.4 Total current assets 1,279.9 1,231.9 Lease receivable, non-current 64.2 71.4 Deferred costs and other contract assets 59.6 57.3 Property and equipment, net 417.9 424.4 Customer relationships, net - (Note 9) 169.0 177.7 Acquired technologies, net - (Note 9) 115.3 129.4 Other intangible assets, net - (Note 9) 120.9 112.8 Trademarks - (Note 9) 235.6 232.4 Goodwill 412.5 407.7 Deferred tax assets 107.1 107.2 Other non-current assets 105.8 89.3 Total assets $ 3,087.8 $ 3,041.5 LIABILITIES AND STOCKHOLDERS ' EQUITY Current liabilities Accounts payable $ 280.8 $ 251.5 Accrued compensation 76.0 62.6 Deferred revenue and other contract liabilities, current 84.5 87.3 Other current liabilities 196.3 162.4 Total current liabilities 637.6 563.8 Long-term debt 733.2 871.7 Deferred tax liabilities 111.3 111.7 Other non-current liabilities 142.5 129.5 Total liabilities 1,624.6 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; 53.5 million and 52.8 million shares issued and outstanding at September 28, 2024 and December 30, 2023, respectively 0.1 0.1 Treasury stock, 19.5 million and 19.5 million shares at September 28, 2024 and December 30, 2023, respectively ( 1,169.2 ) ( 1,169.2 ) Additional paid-in capital 828.4 783.4 Accumulated other comprehensive loss ( 36.6 ) ( 45.3 ) Retained earnings 1

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View this 10-Q filing on SEC EDGAR