Q2 2023: The company expects revenues of $453 million- $457 million range (consensus: $553.23 million).

The healthcare revenue is expected to be $280 million-$282 million range, and non-healthcare revenue is projected to range $173 million-$175 million.

The healthcare business was impacted by delayed Q2 large orders into H2, lower single-patient use sensor sales, a decline in customer conversion rate, and a continued rise in hospital labor expenses.

Notably, the company plans to reduce costs in H2 2023. 

Also, MASI projects Q2 non-healthcare revenues to be below expectations on demand decline in the premium and luxury audio and earlier witnessed lower-end consumer audio categories.

The company's unrecognized contract revenue is anticipated to be $1.37 billion-$1.38 billion (+11% to 12% Y/Y) at the end of Q2.

The company is expected to report Q2 2023 results on August 8, 2023.

Price Action: MASI shares are down 26.6% at $108.00 pre-market on the last check Tuesday.