Masimo Corporation (NASDAQ:MASI) Q3 2023 Earnings Call Transcript

Jayson Bedford: Okay. Was there a contribution from Stork? And if not, maybe you can just kind of reframe the potential revenue contribution here?

Joe Kiani: I think it was minor, but yes, there was. Micah, do you want to speak to that?

Micah Young: Yes. So, Jayson, we have launched Stork in late August. Sales today have been modest. We are continuing to build out the distribution of Stork with the expansion of retailers over the next year. I think we mentioned in the prepared remarks that I think we are in 250 stores with Target that’s going to expand significantly over the course of the next year. We are also in Best Buy and Amazon retail as well. So, sales to-date have been modest, but we are still excited about this product, and we believe it will achieve great success, especially when we get the regulatory clearance, and we are able to really differentiate this product in the marketplace.

Jayson Bedford: Okay. And then just maybe lastly, I may have missed it, but your thoughts on expanding the Board?

Joe Kiani: Yes. Actually, today, we did an 8-K. We are happy to announce that Mr. Ralph Klassen will be joining our Board.

Jayson Bedford: Okay. So, you have added on one – is it just one or are you adding two?

Joe Kiani: We are going to add at least one more, but we are working through it. The Nominating Committee has changed. The Chair of the Nominating Committee is new. We have new members and they are vocal and we are trying to – we are trying our best to manage a process in the midst of all of it, but we are eager to add more.

Jayson Bedford: Okay. Thank you.

Joe Kiani: Thank you very much. I think that was our last call. We appreciate your time and look forward to good days where we are back to, I think meeting, beating and raising. So, thank you.

Operator: Ladies and gentlemen, this concludes today’s call. Thank you for joining. You may now disconnect.