Merit Medical Systems, Inc.

Merit Medical Systems, Inc. Earnings Recaps

MMSI Health Care 2 recaps
Q1 2026 May 4, 2026

Shares dropped 9% following Merit Medical’s Q1 report, reflecting investor disappointment with the cautious outlook and updated guidance despite solid top-line growth and margin improvement.

Key takeaways
  • Q1 revenue rose 7% GAAP and 5% constant currency to $381.9 million, driven by 2.7% organic growth plus acquisition contributions.
  • Non-GAAP operating margin increased 47 basis points to a record first-quarter 19.7%.
  • Non-GAAP EPS grew 9%, and free cash flow increased 26% year-over-year to $25 million.
  • Guidance was updated to incorporate View Point Medical acquisition impacts, suggesting a more cautious outlook.
  • Strategic initiatives included the commercial launch of the Resilience TTS Esophageal Stent and expansion of the oncology portfolio through the $140 million View Point Medical acquisition.
Full recap
Q2 2025 Aug 1, 2025

Merit Medical Systems reported strong Q2 2025 results with 13% year-over-year revenue growth and record-high non-GAAP operating margins, highlighting robust execution despite macroeconomic challenges.

Key takeaways
  • Total revenue reached $382.5 million, surpassing growth expectations with a 12.5% constant currency increase.
  • Non-GAAP operating margin improved to 21.2%, the highest in the company's public history, alongside a 10% increase in non-GAAP EPS.
  • Free cash flow rose by 20% year-over-year, amounting to $70 million, showcasing operational efficiency.
  • The strategic acquisition of Biolife Delaware for $120 million aims to enhance Merit's hemostatic product offerings, targeting a $350 million global market.
  • Martha Aronson was appointed as the new President and CEO, set to commence in October 2025, reinforcing the leadership transition strategy.
Full recap