Medical device maker Masimo said Tuesday that it does not expect a cyberattack it disclosed earlier this month to have a material effect on its fiscal 2025 revenue, nor does it expect the incident to hurt its ability to fulfill existing customer orders or meet seasonal demand
The Irvine, Calif.-based manufacturer of patient monitoring devices said in a Securities and Exchange Commission filing that it expects to reaffirm the updated financial outlook it provided on May 6. The company said at the time that it expected revenue for fiscal 2025 to range between $1.5 billion and $1.53 billion.
The company disclosed the incident in that May 6 filing, warning at the time that the attack had affected its ability to fulfill orders.
The company maintains cyber insurance and expects its policy to cover most of the out-of-pocket remediation costs.
Masimo launched an investigation after discovering unauthorized activity on its on-premises network on April 27. The company has been working with third-party forensic experts to investigate and also contacted law enforcement.
The company said its manufacturing facilities are running at almost full capacity and its critical order taking, distribution and shipping systems are fully operational. Masimo said it was continuing to optimize those systems to make sure any orders that were delayed are processed in a timely manner.
