Masimo has reported a net income of $16m, or $0.29 per diluted share, for the second quarter ended 29 June 2024, a 2% increase compared to $15.7m, or $0.29 per diluted share, for the respective quarter in 2023.
The medical technology company’s net income for the second quarter of 2024 (Q2 2024) declined by 15% compared to $18.9m for the first quarter of 2024 (Q1 2024).
The company has reported a total revenue of $496.3m for Q2 2024, a 9% rise compared to $455.3m for the same quarter in 2023, and a 1% increase compared to $492.8m for Q1 2024.
Masimo has reported total operating expenses of $226.5m for Q2 2024, an 18% increase compared to $191.9m for the same period in 2023.
The company reported income before provision for income taxes of $19.9m for Q2 2024, a 20% decrease compared to $24.8m for the respective quarter in 2023.
Masimo chairman and CEO Joe Kiani said: “Our team’s record-breaking contracting efforts, exceptional execution of margin expansion initiatives and continued innovation drove strong results for shareholders in the second quarter.
“On the back of that performance and our growing momentum in the healthcare market, we are increasing our full-year 2024 guidance for healthcare revenue, consolidated operating income and consolidated EPS.”
Masimo has reported a net income of $34.9m, or $0.64 per diluted share, for the six months ended 29 June 2024, a 5.6% decline compared to $37m, or $0.68 per diluted share, for the respective period in 2023.
The medical technology company has reported a total revenue of $989.1m for the first half of 2024 (H1 2024), a 3% decrease compared to $1.02bn for the same period in 2023.
The company reported total operating expenses of $434.2m for H1 2024, a 1% decline compared to $438.7m for the respective period in the previous year.
Masimo reported an income before tax of $44.8m for H1 2024, a 12% decrease compared to $51m for the same period in 2023.
Last month, Masimo announced the addition of a new sleep analysis feature to its Masimo W1 Sport advanced health tracking wearable, dubbed Sleep Halo.
Sleep Halo is designed to provide overnight sleep data tracking with more than 70,000 daily measurements of second-by-second continuous health data, said Masimo.
