Medical technology company Masimo has been facing off with Apple in court since 2020, and while Masimo has scored some wins, it's been an expensive endeavor.
In its quarterly earnings reports, Masimo outlines how much it has spent on litigation. The way Masimo's spending is reported has changed over the last five years, but looking at earnings reports and information from Masimo executives gives a look at how much legal fights can cost.
Masimo's ITC case against Apple began in 2021, and it ultimately led to an Apple Watch import ban. Apple was forced to remove blood oxygen monitoring from Apple Watches sold in the U.S. in December 2023. Masimo spent $5.5 million on litigation expenses in 2021, followed by $28.7 million in 2022. The company spent over $40 million in 2023, and $70 million in 2024.
In the first quarter of 2025, Masimo spent $19.7 million, and in its second quarter earnings results shared this week, Masimo said it spent $24 million on litigation. Masimo could be on track to spend more in 2025 than it did in 2024, based on its legal costs in the first and second quarters. It is worth noting that these litigation figures include all of Masimo's legal spending, and not just Apple-related costs. Masimo has other expenses, which includes the recent ousting of former Masimo CEO Joe Kiani.
Still, Masimo's legal expenditures have not been inconsequential, according to Masimo. In December 2023, then Masimo CEO Joe Kiani told The Wall Street Journal that the legal battle against Apple had cost Masimo around $100 million. In the two years since, legal costs could have significantly exceeded that figure, but Masimo's quarterly reports do not break down what portion of total litigation expenses are Apple-specific.
Right now, Masimo is embroiled in the appeals process with Apple, as Apple launched an appeal in late 2023. Most recently, Apple argued its appeals case to a three-judge panel, though no decision has been made as of yet.
