Masimo Corporation
Masimo Announces Preliminary Q2 2024 Financial Results
Summary
On July 9, 2024, Masimo Corporation announced preliminary financial results for the second quarter ended June 29, 2024. The company expects consolidated revenue of approximately $496 million, with healthcare revenue at approximately $344 million and non-healthcare revenue at approximately $152 million. Incremental value of new healthcare contracts is expected to be approximately $134 million, and driver shipments are expected to be approximately 58 thousand. The company reported 9% growth on a reported basis and 10% growth on a constant currency basis for consolidated revenue, with healthcare revenue showing 22% growth on a reported basis and 23% growth on a constant currency basis. The preliminary results are based on the company's current expectations and may be adjusted as a result of customary quarter-end review procedures.
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About Masimo Corporation
Masimo Corporation is a global leader in noninvasive monitoring technologies, specifically focusing on developing innovative medical devices that improve patient outcomes and reduce the cost of care. The company's flagship product line includes advanced signal processing pulse oximetry devices, which are pivotal in accurately measuring oxygen levels, pulse rate, and other vital signals without the need for invasive procedures. Masimo's technology is widely adopted across various healthcare settings including hospitals, outpatient treatment centers, and alternative care sites, enhancing patient monitoring and aiding clinicians in detecting potential health issues more efficiently. Besides, Masimo’s products are recognized for their precision and reliability, demonstrating robustness even in challenging clinical environments where motion and low perfusion can affect monitoring accuracy. The corporation is committed to expanding its technological suite, covering a spectrum of health monitoring solutions that contribute to improved healthcare practices globally. Based in Irvine, California, Masimo's ongoing innovation continues to set benchmarks in the healthcare industry, influencing a wide range of sectors from emergency care to surgical and critical care monitoring.
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