Masimo Sets 2028 Financial Targets, Sees 7%-10% Revenue CAGR, ~30% Operating Margin, $8 EPS, And $1B Cash Flow; Reaffirms 2025 Guidance Of $1.51B-$1.53B Revenue, $412M-$424M Operating Profit, And $5.40-$5.55 EPS

Announces Long-Range Targets Including 7% - 10% Revenue CAGR Through 2028

Highlights Clear Focus on Patient Outcomes, Technology Innovation and Commercial Execution

Masimo (NASDAQ:MASI) today hosted its 2025 Investor Day at the Company's headquarters. At the event, Masimo's management team provided an update on the Company's long-term strategy, including the pathway for expanding Masimo's position as a global leader in patient monitoring, the Company's multi-year pipeline, and a clear roadmap to deliver durable revenue growth, margin expansion and increased cash flow. Masimo also provided a detailed look at each of its growth pillars.

The Company's updated long-range plan through 2028 includes the following financial targets:

• Revenue: Compound annual growth rate (CAGR) of 7%-10%
• Operating Margin: Approximately 30% by 2028
• Adjusted Earnings Per Share: $8.00 by 2028
• Operating Cash Flow: Approximately $1 billion cumulatively from 2026-2028

Masimo also reaffirmed the 2025 financial guidance it last stated on November 4, including Non-GAAP Revenue of $1,510 - $1,530 million, Non-GAAP operating profit of $412 - $424 million and Non-GAAP earnings per diluted share of $5.40 - $5.55.