Tue, Feb 25, 10:21 PM (59 days ago)
Masimo Corporation’s 2024 10-K report details its dual-segment business—healthcare, providing noninvasive patient monitoring, hospital automation, and remote solutions, and non-healthcare, offering premium audio products and licensing for automotive systems. Total revenue modestly increased to ~$2.09B, driven by a 9.4% rise in the healthcare segment, while non-healthcare revenue declined (~9.5%) due to softer consumer discretionary spending. Operating expenses rose, notably with a $304M impairment charge in non-healthcare and increased SG&A and R&D costs. The filing highlights a strategic realignment initiative aimed at organizational efficiency and profitability, alongside significant management transitions following CEO departure and board changes. Extensive risks are noted, including regulatory uncertainties, competitive pressures, supply chain disruptions, global economic volatility, and cybersecurity threats, all of which could materially impact future performance.