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IRVINE, Calif. - Masimo Corporation (NASDAQ:MASI) reported fourth quarter earnings that surpassed analyst estimates, driven by strong growth in both its healthcare and non-healthcare segments. The medical technology company also provided an upbeat forecast for 2025.
MASI shares were trading 5.73% higher Tuesday aftermarket.
Masimo posted adjusted earnings per share of $1.80 for Q4, beating the analyst consensus of $1.42 by $0.38. Revenue came in at $600.7 million, topping expectations of $591.64 million and representing 9% growth YoY on both a reported and constant currency basis.
Healthcare revenue rose 8% to $368 million, while non-healthcare revenue increased 11% to $232 million compared to the prior year quarter.
"Our 2024 results clearly demonstrate the strong growth and earnings power of our healthcare business," said Katie Szyman, Chief Executive Officer of Masimo. "We had a record year in terms of gaining share through customer contracts."
For the full year 2024, Masimo reported consolidated revenue of $2.09 billion, up 2% YoY. Healthcare revenue grew 9% to $1.40 billion, partially offset by a 10% decline in non-healthcare revenue to $699 million.
Looking ahead, Masimo raised its 2025 outlook, now expecting adjusted EPS of $5.10 to $5.40, above the consensus estimate of $4.69. The company projects healthcare revenue of $1.50 billion to $1.53 billion for 2025, representing 8% to 11% growth on a constant currency basis.
Masimo said it expects increased earnings and cash flow in 2025 and beyond as a result of strategic realignment efforts undertaken in the fourth quarter.
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