NASDAQ$MASI

Masimo Corp. · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Masimo's financial performance for Q1 2020 was announced, highlighted by a revenue increase and strong customer response during the COVID-19 pandemic.

Masimo reported a 16.4% increase in total revenue to $269.6 million for Q1 2020, driven by a 16.9% increase in product revenue. GAAP net income per diluted share was $1.12, and non-GAAP net income per diluted share was $0.97. The company shipped 72,100 noninvasive technology boards and monitors, a 13.2% increase year-over-year.

  • Total revenue increased by 16.4% to $269.6 million compared to Q1 2019.
  • Product revenue increased by 16.9% to $269.6 million, or 17.5% on a constant currency basis.
  • GAAP net income per diluted share was $1.12.
  • Non-GAAP net income per diluted share was $0.97.

Headline financials

Total Revenue

$270M

Previous: $232M+16.4%
EPS (adj)

$0.97

Previous: $0.79+22.8%
Capital Expenditures

-$37M

Previous: -$6.96M-431.4%
Free Cash Flow

$27.5M

Previous: $42.4M-35.2%
Net Income

$64.5M

Previous: $49.3M+30.7%
Operating Income

$69M

Previous: $56M+23.2%
Gross Profit

$186M

Previous: $152M+22.4%
Cash & Equivalents

$606M

Previous: $413M+46.8%
Total Assets

$1.47B

Previous: $1.18B+25.0%
Stock-Based Comp

$11.3M

Previous: $7.32M+54.1%

Revenue & EPS history

Masimo · Revenue · Quarterly

$270M

Q1 2020+16.4%vs Q1 2019
Beat estimate in 16 of 16 quarters(100%)
ActualEstimate

Forward guidance

Given the uncertainties around the COVID-19 pandemic and its potential impact on our business, we are no longer offering guidance for 2020.

Tailwinds

  • Increased demand for our products from both direct and OEM customers, which has continued into the first month of the second quarter.

Headwinds

  • Potential interruptions in our manufacturing operation and our suppliers’ manufacturing operations.
  • Potential reductions in future demand if there has been overbuying of our products due to the pandemic.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

-0.6%

Avg return

Earnings day

-0.1%

Avg return

5 days after

+1.6%

Avg return

30 days after

54%

35 / 65 earnings

Positive

+17.2%

Q2 2024

Best reaction

-35.8%

Q4 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.2%+0.1%+0.4%
Q4 2025+0.1%+7.4%+0.6%
Q3 2025-4.8%-3.0%-4.9%
Q1 2025-6.5%+1.3%+6.5%
Q4 2024+12.3%+12.4%-3.5%
Q3 2024+13.7%+10.2%+14.9%
Q2 2024+17.2%+21.1%+9.0%
Q1 2024-13.0%-11.8%-9.6%
Q4 2023-1.5%-3.2%+12.4%
Q3 2023+2.5%+6.6%+30.5%
Q2 2023-4.1%-7.6%-11.8%
Q1 2023-7.0%-8.0%-16.1%
Q4 2022+4.1%+7.9%+5.6%
Q3 2022-12.1%+3.1%+10.1%
Q2 2022+2.1%-0.2%-0.4%
Q1 2022+7.5%+8.5%+19.8%
Q4 2021-35.8%-31.3%-29.9%
Q3 2021+1.4%-0.7%+0.1%
Q2 2021-0.6%+2.3%+3.8%
Q1 2021-6.9%-5.5%-12.4%
Q4 2020+0.5%+0.3%-9.6%
Q3 2020-5.1%-9.0%-0.3%
Q2 2020-7.2%-6.6%-6.7%
Q1 2020-0.6%+1.7%+9.3%
Q4 2019+0.2%-4.5%-14.5%
Q3 2019-1.5%-2.2%+4.7%
Q2 2019-2.8%-7.8%-3.2%
Q1 2019-1.5%+1.1%-2.9%
Q4 2018+1.3%+3.9%+5.5%
Q3 2018-2.2%-3.3%-4.5%
Q2 2018+8.9%+9.1%+18.6%
Q1 2018+4.3%+7.6%+10.2%
Q4 2017+2.2%-1.4%+2.7%
Q3 2017+1.3%-1.0%+2.3%
Q2 2017-10.3%-10.8%-11.5%
Q1 2017-14.2%-17.0%-12.5%
Q4 2016+5.7%+11.1%+21.9%
Q3 2016+5.5%+10.7%+12.3%
Q2 2016+9.3%+6.1%+14.0%
Q1 2016+7.7%
Q4 2015+5.7%
Q3 2015+4.0%
Q2 2015+6.2%
Q1 2015+1.0%
Q4 2014+8.0%
Q3 2014+7.0%
Q2 2014-11.2%
Q1 2014-9.1%
Q4 2013-4.2%
Q3 2013-9.2%
Q2 2013+5.5%
Q1 2013+7.5%
Q4 2012-0.3%
Q3 2012-1.1%
Q2 2012-6.2%
Q1 2012-6.6%
Q4 2009-3.8%
Q4 2011-3.8%
Q3 2011+1.1%
Q2 2011-8.4%
Q1 2011+4.0%
Q3 2010+0.0%
Q2 2010+1.1%
Q4 2010+1.1%
Q1 2010+2.9%

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