Masimo Corporation released its fourth‑quarter 2025 financial results on February 26, 2026. Revenue for the quarter was $411 million, up 12% year‑over‑year, while non‑GAAP earnings per share were $1.54, exceeding the consensus estimate of $1.43 by $0.11. The company also reiterated its full‑year 2025 guidance, projecting revenue of $1.523 billion and non‑GAAP EPS of more than $5.55.
The revenue increase was driven primarily by the healthcare segment, which generated $368 million in the quarter, a 12% rise from the $339.9 million recorded in Q4 2023 and a 5% rise from the $368 million in Q4 2024. Non‑healthcare revenue of $232 million matched the same‑period figure from Q4 2024, indicating a stable contribution from the company’s non‑healthcare portfolio.
Earnings per share beat expectations because Masimo maintained strong cost discipline while expanding its high‑margin healthcare contracts. The company’s focus on innovative monitoring technologies and hospital automation platforms helped sustain pricing power, and the mix shift toward higher‑margin healthcare solutions offset any pressure from the non‑healthcare segment.
Management reaffirmed confidence in the company’s trajectory. CEO Katie Szyman said, "Our strong performance this quarter reflects the continued execution of our strategy and the value our solutions deliver for customers. In 2025, we achieved a record level of incremental contract value from new customers and expanded hospital agreements with our existing customers, which positions us well for sustained performance in the year ahead." The guidance upgrade for full‑year revenue and EPS signals that the company expects continued demand growth and operational leverage.
The earnings release came amid the announcement of Danaher Corporation’s agreement to acquire Masimo for $180 per share in cash. The acquisition, valued at approximately $9.9 billion, is expected to enhance Masimo’s market reach and provide additional resources for product development, reinforcing the company’s long‑term growth prospects.
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