masi-q42021nongaapsupp

Masimo公司补充的非GAAP信息(未经审计，以千计，每股金额除外)(1)(2)本补充非GAAP信息中包含的涉及我们预期、相信或预期未来将发生或可能发生的活动、事件或发展的历史事实陈述以外的所有陈述均为前瞻性陈述，特别包括有关我们对GAAP和非GAAP 2021整个会计年度总收入、产品收入、特许权使用费和其他收入、毛利/利润率、销售、一般和诉讼和解、裁决和(或)辩护费用、营业费用、营业收入/利润率、净收入、稀释后每股收益、营业外收入、所得税拨备、调整后的自由现金流；这些因素包括：我们的长期前景；对我们产品的需求；预期的收入和收益增长；我们的财务状况、运营和业务总体结果；对我们设计和提供创新的非侵入性新技术并降低护理成本的能力的预期；以及对我们技术的需求。这些前瞻性陈述是基于管理层目前的预期和信念，受到不确定性和因素的影响，所有这些不确定性和因素都很难预测，其中许多是我们无法控制的，可能导致实际结果与前瞻性陈述中描述的大不相同。这些风险包括但不限于, 这些风险与以下因素有关：我们几乎所有收入都依赖Masimo Set®和Masimo彩虹Set™产品和技术；未能保护我们的知识产权；我们在竞争对手的知识产权主张中存在风险；我们销售产品和技术的市场竞争激烈；未能继续开发创新产品和技术；我们目前或未来的任何产品和技术得不到接受；我们当前和未来的产品和技术获得监管部门的批准；我们的国际重组的实施将不会继续产生预期的运营和财务业绩的风险。这些风险因素包括：未能留住和招聘高级管理层；产品责任索赔风险；未能从我们记录的无形资产金额中获得预期回报；我们品牌的维护；我们未来可能向员工和服务提供商授予股权奖励的金额和类型；我们正在进行的诉讼及相关事项；以及我们在提交给美国证券交易委员会(“美国证券交易委员会”)的最新定期报告中“风险因素”部分讨论的其他因素，包括我们最近提交给美国证券交易委员会(SEC)的10-K表格和10-Q表格，所有这些都可以在美国证券交易委员会上免费获得。尽管我们相信我们的前瞻性陈述中反映的预期是合理的，但我们不知道我们的预期是否会被证明是正确的。敬请您不要过度依赖这些前瞻性陈述，这些前瞻性陈述仅说明截至本文发布之日的情况，即使我们随后在我们的网站上或以其他方式提供了这些前瞻性陈述。我们不承担任何更新的义务, 除适用证券法可能要求的情况外，无论是否由于新信息、未来事件或其他原因，本新闻稿均可对这些前瞻性陈述进行修订或澄清。欲了解有关我们的非GAAP衡量标准定义的更多信息，请访问公司网站的投资者关系部分，网址是：www.masimo.com。第1页

MASIMO CORPORATION SUPPLEMENTAL NON-GAAP INFORMATION (unaudited, in thousands, except per share amounts)(1) (2) GAAP TOTAL REVENUE FY 2017 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 GAAP revenue Product revenue 738,242$ 829,874$ 230,548$ 229,510$ 228,916$ 247,434$ 936,408$ 269,625$ 300,953$ 278,112$ 295,054$ 1,143,744$ 299,043$ 305,118$ 307,414$ 327,578$ 1,239,153$ 1,350,000$ Royalty and other revenue 52,006 28,415 1,116 142 95 76 1,429 - - - - - - - - - - - GAAP total revenue 790,248$ 858,289$ 231,664$ 229,652$ 229,011$ 247,510$ 937,837$ 269,625$ 300,953$ 278,112$ 295,054$ 1,143,744$ 299,043$ 305,118$ 307,414$ 327,578$ 1,239,153$ 1,350,000$ (in thousands, except percentages) FY 2017 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 GAAP gross profit/margin 522,032$ 574,892$ 151,642$ 154,339$ 156,268$ 166,923$ 629,172$ 185,629$ 191,584$ 178,926$ 186,926$ 743,065$ 196,875$ 192,912$ 203,664$ 214,896$ 808,347$ 893,500$ Non-GAAP adjustments: Royalty and other revenue, net of related costs (48,384) (27,704) (1,048) (111) (57) (45) (1,262) - - - - - - - - - - - Acquisition, integration and related costs 500 458 114 114 114 167 511 373 578 409 447 1,807 809 1,208 787 1,008 3,813 4,000 Other adjustments - - - - - - - - - - - - - 3,362 - - 3,362 - Total non-GAAP gross profit/margin adjustments (47,884) (27,246) (934) 3 57 122 (751) 373 578 409 447 1,807 809 4,570 787 1,008 7,175 4,000 Non-GAAP gross profit/margin 474,147$ 547,645$ 150,708$ 154,343$ 156,325$ 167,046$ 628,421$ 186,001$ 192,163$ 179,336$ 187,373$ 744,872$ 197,684$ 197,481$ 204,451$ 215,905$ 815,522$ 897,500$ Non-GAAP gross margin % (4) 64.2% 66.0% 65.4% 67.2% 68.3% 67.5% 67.1% 69.0% 63.9% 64.5% 63.5% 65.1% 66.1% 64.7% 66.5% 65.9% 65.8% 66.5% (in thousands, except percentages) FY 2017 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 GAAP selling, general and administrative operating expenses 273,011$ 285,417$ 74,204$ 78,160$ 80,354$ 81,943$ 314,661$ 89,877$ 98,461$ 90,376$ 90,343$ 369,057$ 96,700$ 93,833$ 100,647$ 104,111$ 395,291$ Non-GAAP adjustments: Acquisition, integration and related costs (1,097) (984) (246) (1,022) (983) (1,968) (4,218) (2,049) (711) (838) (2,749) (6,347) (1,979) (1,301) (1,195) (1,398) (5,872) Litigation related expenses, settlements and awards - - - - - - - - - - - - - (373) (1,177) (3,887) (5,437) Other Adjustments - - - - - - - - - - - - - - - (530) (530) Non-GAAP selling, general and administrative operating expenses 271,915$ 284,433$ 73,958$ 77,138$ 79,371$ 79,976$ 310,443$ 87,828$ 97,750$ 89,538$ 87,593$ 362,709$ 94,722$ 92,157$ 98,277$ 98,295$ 383,451$ Non-GAAP selling, general, and administrative operating expenses % (4) 36.8% 34.3% 32.1% 33.6% 34.7% 32.3% 33.2% 32.6% 32.5% 32.2% 29.7% 31.7% 31.7% 30.2% 32.0% 30.0% 30.9% GAAP research and development operating expenses 65,234$ 81,006$ 21,415$ 24,175$ 24,282$ 23,423$ 93,295$ 27,241$ 30,878$ 28,852$ 31,688$ 118,659$ 34,511$ 33,943$ 35,406$ 33,373$ 137,233$ Non-GAAP adjustments: Acquisition, integration and related costs - - - - - - - (25) (24) (30) (53) (132) - - - - - Non-GAAP research and development operating expenses 65,233$ 81,006$ 21,415$ 24,175$ 24,282$ 23,423$ 93,295$ 27,215$ 30,854$ 28,822$ 31,635$ 118,526$ 34,511$ 33,943$ 35,406$ 33,373$ 137,233$ Non-GAAP research and development operating expenses % (4) 8.8% 9.8% 9.3% 10.5% 10.6% 9.5% 10.0% 10.1% 10.3% 10.4% 10.7% 10.4% 11.5% 11.1% 11.5% 10.2% 11.1% GAAP litigation settlements and (awards) -$ 425$ -$ -$ -$ -$ -$ (499)$ 25$ -$ -$ (474)$ -$ -$ -$ -$ -$ Non-GAAP adjustments: Litigation related expenses, settlements and awards - (425) - - - - - 499 (25) - - 474 - - - - - Non-GAAP litigation settlements and (awards) -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 4 4 GAAP operating expenses 338,245$ 366,848$ 95,619$ 102,335$ 104,636$ 105,366$ 407,956$ 116,619$ 129,364$ 119,228$ 122,031$ 487,242$ 131,211$ 127,776$ 136,053$ 137,484$ 532,524$ 582,600$ -$ -$ Non-GAAP adjustments: Acquisition, integration and related costs (1,097) (984) (246) (1,022) (983) (1,968) (4,218) (2,075) (735) (868) (2,802) (6,479) (1,979) (1,301) (1,195) (1,398) (5,872) (8,000) Litigation related expenses, settlements and awards - (425) - - - - - 499 (25) - - 474 - (373) (1,177) (3,887) (5,437) (12,000) Other Adjustments - - - - - - - - - - - - - - - (530) (530) - Total non-GAAP operating expense adjustments (1,097) (1,409) (246) (1,022) (983) (1,968) (4,218) (1,576) (760) (868) (2,802) (6,005) (1,979) (1,674) (2,371) (5,815) (11,839) (20,000) Non-GAAP operating expenses 337,149$ 365,439$ 95,374$ 101,312$ 103,653$ 103,398$ 403,738$ 115,043$ 128,604$ 118,360$ 119,228$ 481,236$ 129,232$ 126,100$ 133,684$ 131,668$ 520,685$ 562,600$ Non-GAAP operating expenses % (4) 45.7% 44.0% 41.4% 44.1% 45.3% 41.8% 43.1% 42.7% 42.7% 42.6% 40.4% 42.1% 43.2% 41.3% 43.5% 40.2% 42.0% 41.7% 2022 Full Year Guidance(3) RECONCILIATION OF GAAP GROSS PROFIT/MARGIN TO NON-GAAP GROSS PROFIT/MARGIN: 2022 Full Year Guidance(3) RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES: 2022 Full Year Guidance(3) Page 2

MASIMO CORPORATION SUPPLEMENTAL NON-GAAP INFORMATION (unaudited, in thousands, except per share amounts)(1) (2) (in thousands, except percentages) FY 2017 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 GAAP operating income/margin 183,787$ 208,044$ 56,023$ 52,004$ 51,632$ 61,557$ 221,216$ 69,010$ 62,220$ 59,698$ 64,895$ 255,823$ 65,664$ 65,136$ 67,611$ 77,411$ 275,822$ 310,900$ Non-GAAP adjustments: Royalty and other revenue, net of related costs (48,384) (27,704) (1,048) (111) (57) (45) (1,262) - - - - - - - - - - - Acquisition, integration and related costs 1,597 1,442 361 1,136 1,098 2,135 4,729 2,447 1,313 1,277 3,249 8,286 2,788 2,509 1,982 2,406 9,685 12,000 Litigation related expenses, settlements and awards - 425 - - - - - (499) 25 - - (474) - 373 1,177 3,887 5,437 12,000 Other adjustments - - - - - - - - - - - - - 3,362 - 530 3,892 - Total non-GAAP operating income/margin adjustments (46,787) (25,837) (688) 1,025 1,040 2,090 3,467 1,948 1,338 1,277 3,249 7,812 2,788 6,244 3,159 6,824 19,014 24,000 Non-GAAP operating income/margin 136,999$ 182,206$ 55,334$ 53,030$ 52,671$ 63,647$ 224,683$ 70,958$ 63,558$ 60,975$ 68,145$ 263,636$ 68,452$ 71,381$ 70,768$ 84,236$ 294,837$ 334,900$ Non-GAAP operating income % (4) 18.6% 22.0% 24.0% 23.1% 23.0% 25.7% 24.0% 26.3% 21.1% 21.9% 23.1% 23.1% 22.9% 23.4% 23.0% 25.7% 23.8% 24.8% (in thousands, except percentages) FY 2017 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 GAAP net income 124,789$ 193,543$ 49,322$ 44,888$ 49,085$ 52,921$ 196,216$ 64,456$ 55,772$ 49,405$ 70,649$ 240,282$ 53,383$ 50,235$ 57,771$ 68,258$ 229,647$ 251,100$ Non-GAAP adjustments: Royalty and other revenue, net of related costs (48,384) (27,704) (1,048) (111) (57) (45) (1,262) - - - - - - - - - - - Acquisition, integration and related costs Cost of goods sold 500 458 114 114 114 167 511 373 578 409 447 1,807 809 1,208 787 1,008 3,813 4,000 Operating expenses 1,097 984 246 1,022 983 1,968 4,218 2,075 735 868 2,802 6,479 1,979 1,301 1,195 1,398 5,872 8,000 Subtotal - Acquisition, integration and related costs 1,597 1,442 361 1,136 1,098 2,135 4,729 2,447 1,313 1,277 3,249 8,286 2,788 2,509 1,982 2,406 9,685 12,000 Litigation related expenses, settlements and awards Operating expenses - 425 - - - - - (499) 25 - - (474) - 373 1,177 3,887 5,437 12,000 Other adjustments Cost of goods sold - - - - - - - - - - - - - 3,362 - - 3,362 - Operating expenses - - - - - - - - - - - - - - - 530 530 - Subtotal - Other adjustments - - - - - - - - - - - - - 3,362 - 530 3,892 Realized and unrealized gains or losses Foreign currency 270 2,027 (534) (7) 856 312 627 (588) (11) (647) (1,384) (2,631) 799 59 230 776 1,864 - # Tax impact of non-GAAP net income adjustments 16,100 5,532 359 (179) (303) (566) (689) (318) (361) (202) (5,214) (6,096) (598) (1,218) (526) (1,359) (3,701) (4,000) Expiration of certain statutes of limitation related to unique and non-recurring tax positions - (4,169) - - - - - - - - - - - - - - - - 9800Excess tax benefits from stock-based compensation (39,242) (22,036) (3,432) (2,608) (7,020) (2,631) (15,692) (9,609) (7,486) (3,076) (10,001) (30,172) (4,302) (1,324) (6,377) (4,434) (16,438) (16,000) 2017 U.S. Tax Reform 41,392 (675) - - - - - - - - - - - - - - - - Total non-GAAP net income adjustments (28,267) (45,157) (4,294) (1,768) (5,427) (796) (12,286) (8,568) (6,519) (2,649) (13,350) (31,086) (1,313) 3,760 (3,514) 1,806 739 4,000 Non-GAAP net income 96,520$ 148,385$ 45,027$ 43,120$ 43,657$ 52,126$ 183,930$ 55,889$ 49,253$ 46,756$ 57,298$ 209,196$ 52,070$ 53,997$ 54,255$ 70,065$ 230,388$ 255,100$ 2022 Full Year Guidance(3) RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME: 2022 Full Year Guidance(3) RECONCILIATION OF GAAP OPERATING INCOME/MARGIN TO NON-GAAP OPERATING INCOME/MARGIN: Page 3

MASIMO CORPORATION SUPPLEMENTAL NON-GAAP INFORMATION (unaudited, in thousands, except per share amounts)(1) (2) (in thousands, except percentages) FY 2017 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 2.23$ 3.45$ 0.87$ 0.79$ 0.86$ 0.92$ 3.44$ 1.12$ 0.96$ 0.85$ 1.21$ 4.14$ 0.92$ 0.88$ 1.00$ 1.18$ 3.98$ 4.27$ Royalty and other revenue, net of related costs (0.87) (0.49) (0.02) (0.00) (0.00) (0.00) (0.02) - - - - - - - - - - - Acquisition, integration and related costs 0.03 0.03 0.01 0.02 0.02 0.04 0.08 0.04 0.02 0.02 0.06 0.14 0.05 0.04 0.03 0.04 0.17 0.20 Litigation related expenses, settlements and awards - 0.01 - - - - - (0.01) 0.00 - - (0.01) - 0.01 0.02 0.07 0.09 0.20 - - - - - - - - - - - - - 0.06 - 0.01 0.07 - Realized and unrealized gains or losses 0.00 0.04 (0.01) (0.00) 0.01 0.01 0.01 (0.01) (0.00) (0.01) (0.02) (0.05) 0.01 0.00 0.00 0.01 0.03 - Tax impact of non-GAAP net income adjustments 0.29 0.10 0.01 (0.00) (0.01) (0.01) (0.01) (0.01) (0.01) (0.00) (0.09) (0.11) (0.01) (0.02) (0.01) (0.02) (0.06) (0.07) Expiration of certain statutes of limitation related to unique and non-recurring tax positions - (0.07) - - - - - - - - - - - - - - - - 9800Excess tax benefits from stock-based compensation (0.70) (0.39) (0.06) (0.05) (0.12) (0.05) (0.27) (0.17) (0.13) (0.05) (0.17) (0.52) (0.07) (0.02) (0.11) (0.08) (0.28) (0.27) 2017 U.S. Tax Reform 0.74 (0.01) - - - - - - - - - - - - - - - - Total non-GAAP net income per diluted share adjustments (0.51) (0.81) (0.08) (0.03) (0.09) (0.01) (0.22) (0.15) (0.11) (0.05) (0.23) (0.54) (0.02) 0.07 (0.06) 0.03 0.01 0.07 Non-GAAP net income per diluted share 1.73$ 2.65$ 0.79$ 0.76$ 0.76$ 0.91$ 3.22$ 0.97$ 0.85$ 0.80$ 0.98$ 3.60$ 0.90$ 0.94$ 0.94$ 1.21$ 3.99$ 4.34$ Weighted average shares outstanding - diluted 55,874 56,039 56,799 57,066 57,262 57,267 57,100 57,585 58,204 58,280 58,237 58,037 57,901 57,379 57,664 57,770 57,682 58,800 (in thousands, except percentages) FY 2017 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 GAAP Non-operating income (expense) 2,013$ 5,732$ 3,886$ 3,529$ 2,723$ 2,812$ 12,950$ 3,346$ 1,405$ 1,357$ 1,805$ 7,913$ (737)$ 80$ (78)$ (707)$ (1,442)$ 700$ Non-GAAP adjustments: Realized and unrealized foreign currency gains or losses 270 2,027 (534) (7) 856 312 627 (588) (11) (647) (1,384) (2,631) 799 59 230 776 1,864 - h Non-GAAP non-operating income (expense) 2,283$ 7,760$ 3,351$ 3,522$ 3,579$ 3,124$ 13,577$ 2,758$ 1,394$ 710$ 420$ 5,281$ 61$ 139$ 153$ 69$ 422$ 700$ (in thousands, except percentages) FY 2017 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 GAAP provision for income taxes 61,011$ 20,233$ 10,587$ 10,645$ 5,270$ 11,448$ 37,950$ 7,900$ 7,853$ 11,650$ (3,949)$ 23,454$ 11,544$ 14,981$ 9,762$ 8,446$ 44,733$ 60,500$ Non-GAAP adjustments: Excess tax benefits from stock-based compensation 39,242 22,036 3,432 2,608 7,020 2,631 15,692 9,609 7,486 3,076 10,001 30,172 4,302 1,324 6,377 4,434 16,438 16,000 Tax impact of pre-tax non-GAAP adjustments (16,100) (5,532) (359) 179 303 566 689 318 361 202 5,214 6,096 598 1,218 526 1,359 3,701 4,000 Expiration of certain statutes of limitation related to unique and non-recurring tax positions - 4,169 - - - - - - - - - - - - - - - - 2017 U.S. Tax Reform (41,392) 675 - - - - - - - - - - - - - - - - Total non-GAAP provision for income tax adjustments (18,250) 21,348 3,072 2,787 7,324 3,198 16,381 9,928 7,846 3,279 15,215 36,268 4,900 2,542 6,903 5,794 20,139 20,000 Non-GAAP provision for income taxes 42,761$ 41,580$ 13,659$ 13,433$ 12,593$ 14,646$ 54,331$ 17,828$ 15,699$ 14,929$ 11,266$ 59,722$ 16,444$ 17,523$ 16,666$ 14,239$ 64,872$ 80,500$ 2022 Full Year Guidance(3) GAAP net income per diluted share Non-GAAP adjustments: Other adjustments RECONCILIATION OF GAAP NON-OPERATING INCOME (EXPENSE) TO NON-GAAP NON-OPERATING INCOME (EXPENSE): 2022 Full Year Guidance(3) RECONCILIATION OF GAAP PROVISION FOR INCOME TAXES TO NON-GAAP PROVISION FOR INCOME TAXES: RECONCILIATION OF GAAP NET INCOME PER DILUTED SHARE TO NON-GAAP NET INCOME PER DILUTED SHARE: 2022 Full Year Guidance(3) Page 4