MERIT MEDICAL SYSTEMS INC
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MMSI Q1 2026 request
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| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Revenue | 381,877 | 355,351 | +7.5% |
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| Foundational | 255,479 | 240,382 | +6.3% |
| Therapeutic | 126,398 | 114,969 | +9.9% |
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| Single reportable segment | 381,877 | 355,351 | +7.5% |
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| Non Us | 155,361 | 141,787 | +9.6% |
| US | 226,516 | 213,564 | +6.1% |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income | -915 | -1,021 | +10.4% |
| Accumulated Other Comprehensive Income · Reclassification Out Of Accumulated Other Comprehensive Income | -915 | -1,021 | +10.4% |
| Cost of Revenue | 197,080 | 183,331 | +7.5% |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income | -517 | -532 | +2.8% |
| Accumulated Other Comprehensive Income · Reclassification Out Of Accumulated Other Comprehensive Income | -517 | -532 | +2.8% |
| Gross Profit | 184,797 | 172,020 | +7.4% |
| Selling, General & Administrative | 118,210 | 107,486 | +10.0% |
| Research And Development Expense Excluding Acquired In Process Cost | 22,609 | 22,478 | +0.6% |
| Business Combination Contingent Consideration Arrangements Contingent Consideration Benefit | -179 | 1,023 | -117.5% |
| Operating Expenses | 140,640 | 130,987 | +7.4% |
| Operating Income | 44,157 | 41,033 | +7.6% |
| Investment Income Net | 3,900 | 3,790 | +2.9% |
| Interest Expense | -6,526 | -6,568 | +0.6% |
| Other Non-Operating Income (Expense) | 12,015 | -297 | +4145.5% |
| Non-Operating Income (Expense) | 9,389 | -3,075 | +405.3% |
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| Single reportable segment | 9,389 | -3,075 | +405.3% |
| Income Before Taxes | 53,546 | 37,958 | +41.1% |
| Income Tax Expense (Benefit) | 12,551 | 7,811 | +60.7% |
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| Single reportable segment | 12,551 | 7,811 | +60.7% |
| Net Income | 40,995 | 30,147 | +36.0% |
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| Single reportable segment | 40,995 | 30,147 | +36.0% |
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| Retained Earnings | 40,995 | 30,147 | +36.0% |
| EPS (Basic) | 0.69 | 0.51 | +35.3% |
| EPS (Diluted) | 0.68 | 0.49 | +38.8% |
| Wtd Avg Shares (Basic) | 59,510 | 58,897 | +1.0% |
| Wtd Avg Shares (Diluted) | 60,013 | 61,278 | -2.1% |
| Research & Development (Q) | — | — | — |
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| Single reportable segment | 22,609 | 22,478 | +0.6% |
| Sales & Marketing (Q) | — | — | — |
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| Single reportable segment | 73,957 | 64,929 | +13.9% |
| General & Administrative (Q) | — | — | — |
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| Single reportable segment | 44,253 | 42,557 | +4.0% |
| Other Comprehensive Income (Q) | — | — | — |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent | -413 | -1,823 | +77.3% |
| Accumulated Other Comprehensive Income | -3,932 | 4,025 | -197.7% |
| Accumulated Translation Adjustment | -3,519 | 5,848 | -160.2% |
Balance Sheet
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 488,080 | 395,529 | +23.4% |
| Accounts Receivable | 206,446 | 199,550 | +3.5% |
| Nontrade Receivables Current | 18,717 | 17,116 | +9.4% |
| Inventory | 352,386 | 317,936 | +10.8% |
| Prepaid Expenses & Other Current Assets | 29,274 | 25,007 | +17.1% |
| Prepaid Taxes | 5,033 | 3,417 | +47.3% |
| Income Taxes Receivable | 1,838 | 80 | +2197.5% |
| Total Current Assets | 1,101,774 | 958,635 | +14.9% |
| Non-Current Assets | |||
| Property, Plant & Equipment | 433,957 | 390,324 | +11.2% |
| Intangible Assets (Q) | — | — | — |
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| Customer Lists | 22,760 | 20,799 | +9.4% |
| Developed Technology Rights | 442,940 | 414,348 | +6.9% |
| Distribution Rights | 162 | 237 | -31.6% |
| Licensing Agreements | 4,015 | 2,250 | +78.4% |
| Other Intangible Assets | 69,055 | 64,628 | +6.8% |
| Patents | 19,126 | 18,885 | +1.3% |
| Trademarks | 22,992 | 22,457 | +2.4% |
| Goodwill | 503,432 | — | — |
| Deferred Tax Assets | 7,085 | 16,100 | -56.0% |
| Operating Lease Right-of-Use Assets | 86,376 | 87,722 | -1.5% |
| Other Non-Current Assets | 74,665 | 71,856 | +3.9% |
| Intangible Assets Net Goodwill And Other Assets Noncurrent | 1,183,553 | 1,119,014 | +5.8% |
| Total Assets | 2,719,284 | 2,467,973 | +10.2% |
| Other Assets | |||
| Property Plant And Equipment Gross | 816,630 | 751,733 | +8.6% |
| Accumulated Depreciation Depletion And Amortization Property Plant And Equipment | -382,673 | -361,409 | -5.9% |
| Current Liabilities | |||
| Accounts Payable Trade Current | 67,853 | 63,759 | +6.4% |
| Accrued Liabilities | 122,515 | 118,679 | +3.2% |
| Operating Lease Liability Current | 11,228 | 9,435 | +19.0% |
| Accrued Income Taxes Current | 15,278 | 4,950 | +208.6% |
| Total Current Liabilities | 216,874 | 196,823 | +10.2% |
| Non-Current Liabilities | |||
| Long-Term Debt | 735,160 | 730,673 | +0.6% |
| Deferred Tax Liabilities | 19,664 | 247 | +7861.1% |
| Liability For Uncertain Tax Positions Noncurrent | 2,248 | 2,118 | +6.1% |
| Deferred Compensation Liability Classified Noncurrent | 17,373 | 18,617 | -6.7% |
| Contract With Customer Liability Noncurrent | 1,373 | 1,476 | -7.0% |
| Operating Lease Liabilities | 75,175 | 77,549 | -3.1% |
| Other Non-Current Liabilities | 24,689 | 12,047 | +104.9% |
| Total Liabilities | 1,092,556 | 1,039,550 | +5.1% |
| Long-Term Debt | 735,160 | 730,673 | +0.6% |
| Stockholders' Equity | |||
| Common Stock | 769,271 | 718,111 | +7.1% |
| Retained Earnings | 865,025 | 725,688 | +19.2% |
| Accumulated Other Comprehensive Income | -7,568 | -15,376 | +50.8% |
| Total Stockholders' Equity | 1,626,728 | 1,428,423 | +13.9% |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent | 1,375 | 942 | +46.0% |
| Accumulated Other Comprehensive Income | -7,568 | -15,376 | +50.8% |
| Accumulated Translation Adjustment | -8,943 | -16,318 | +45.2% |
| Common Stock | 769,271 | 718,111 | +7.1% |
| Retained Earnings | 865,025 | 725,688 | +19.2% |
| Total Liabilities & Equity | 2,719,284 | 2,467,973 | +10.2% |
| Land | 30,366 | 27,058 | +12.2% |
| Buildings And Improvements Gross | 199,350 | 193,561 | +3.0% |
| Machinery And Equipment Gross | 368,430 | 345,272 | +6.7% |
| Furniture And Fixtures Gross | 61,433 | 62,673 | -2.0% |
| Leasehold Improvements Gross | 66,065 | 59,447 | +11.1% |
| Construction In Progress Gross | 90,986 | 63,722 | +42.8% |
Cash Flow Statement
| Metric | YTD Q1 2026 | YTD Q1 2025 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Depreciation & Amortization | 30,496 | 29,292 | +4.1% |
| Gain Loss On Sale Of Business | -12,502 | — | — |
| Income Loss From Equity Method Investments | 531 | — | — |
| Gain Loss On Disposition Of Assets | 67 | 87 | -23.0% |
| Goodwill And Intangible Asset Impairment | 137 | 32 | +328.1% |
| Operating Lease Right Of Use Asset Amortization Expense | 2,854 | 2,984 | -4.4% |
| Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 | -179 | 1,023 | -117.5% |
| Contract With Customer Liability Revenue Recognized | -26 | -26 | 0.0% |
| Amortization Of Financing Costs And Discounts | 1,414 | 1,414 | 0.0% |
| Stock-Based Compensation | 8,961 | 9,078 | -1.3% |
| Change in Accounts Receivable | -3,577 | -7,560 | +52.7% |
| Increase Decrease In Other Receivables | 2,067 | -284 | +827.8% |
| Change in Inventory | -22,655 | -10,599 | -113.7% |
| Change in Prepaid & Other Assets | 1,886 | 2,041 | -7.6% |
| Increase Decrease In Income Taxes Receivable | 188 | 2,143 | -91.2% |
| Increase Decrease In Other Operating Assets | -723 | -176 | -310.8% |
| Increase Decrease In Accounts Payable Trade | 4,493 | 4,453 | +0.9% |
| Increase Decrease In Accrued Liabilities | -33,269 | -20,747 | -60.4% |
| Increase Decrease In Accrued Income Taxes Payable | 7,459 | 1,918 | +288.9% |
| Increase Decrease In Deferred Compensation | -169 | -580 | +70.9% |
| Increase Decrease In Operating Lease Liability | -2,766 | -3,335 | +17.1% |
| Increase Decrease In Other Operating Liabilities | 14,999 | -733 | +2146.2% |
| Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities | -314 | 10,425 | -103.0% |
| Net Cash from Operations | 40,681 | 40,572 | +0.3% |
| Investing Activities | |||
| Capital Expenditures | -16,009 | -21,061 | +24.0% |
| Payments To Acquire Intangible Assets | -757 | -457 | -65.6% |
| Proceeds From Sales Of Business Affiliate And Productive Assets | 25,500 | — | — |
| Payments To Acquire Businesses Net Of Cash Acquired | -1,000 | -1,000 | 0.0% |
| Net Cash from Investing | 7,734 | -29,635 | +126.1% |
| Acquisition Of Developed Technology In Accrued Expenses | 2,943 | 4,020 | -26.8% |
| Right Of Use Asset Obtained In Exchange For Operating Lease Liability | 1,784 | 24,871 | -92.8% |
| Financing Activities | |||
| Proceeds From Issuance Of Common Stock | 2,775 | 13,152 | -78.9% |
| Payment For Contingent Consideration Liability Financing Activities | -2,142 | -52 | -4019.2% |
| Payments Related To Tax Withholding For Exchange Of Common Stock | -6,922 | -6,145 | -12.6% |
| Net Cash from Financing | -6,289 | 6,955 | -190.4% |
| Supplemental | |||
| Interest Paid | 10,718 | 12,361 | -13.3% |
| Income Taxes Paid | 4,382 | 3,784 | +15.8% |
| Unpaid Capital Expenditures | 6,061 | 3,813 | +59.0% |
| Other Cash Flow | |||
| Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations | -426 | 936 | -145.5% |
| Net Change in Cash | 41,700 | 18,828 | +121.5% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 490,249 | 397,595 | +23.3% |
| Restricted Cash And Cash Equivalents At Carrying Value | 2,169 | 2,066 | +5.0% |
Values in thousands USD. Source: SEC EDGAR 10-Q filing.