Masimo projects Q4 revenue of $411 million, up 12% year-over-year

Masimo Corporation (NASDAQ: MASI) announced preliminary fourth quarter 2025 financial results, projecting revenue of approximately $411 million, representing 12% growth on a reported basis and 11% growth on a constant currency basis compared to the same period in 2024.

The medical technology company expects non-GAAP earnings per diluted share of more than $1.54 for the fourth quarter, including the impact of new tariffs. Shipments of noninvasive technology boards and instruments are projected at approximately 69,000 units.

For the full year 2025, Masimo anticipates revenue of approximately $1.523 billion, reflecting 9% growth on both reported and constant currency bases. Full-year non-GAAP earnings per diluted share are expected to exceed $5.55, which represents the high end of the company's guidance range. Annual shipments of noninvasive technology boards and instruments are projected at approximately 270,000 units.

"Our strong performance this quarter reflects the continued execution of our strategy and the value our solutions deliver for customers," said Katie Szyman, Chief Executive Officer of Masimo. "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 preliminary financial information is based on current expectations and may be adjusted following completion of customary annual audit procedures. Complete fourth quarter and full-year 2025 financial results will be announced on February 26, 2026, after market close.

The guidance includes financial impact from an additional calendar week and estimated effects of new tariffs, net of mitigation measures implemented to date.

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