MERIT MEDICAL SYSTEMS INC

Listed Company

MMSICIK 0000856982NasdaqLarge AcceleratedSurgical & Medical Instruments & ApparatusUtahFY ends Dec 31

Period

FY 2025

Revenue

$1.52B

Net Income

$128.49M

Total Assets

$2.69B

Equity

$1.58B

Shares Out

59.65M

Op. Cash Flow

$297.37M

MMSI$73.98−12.49% · past yearDBEQ Basic

Daily closing prices

Business

Merit Medical Systems, Inc. is a manufacturer and marketer of proprietary medical devices for interventional, diagnostic and therapeutic procedures in cardiology, radiology, oncology, critical care and endoscopy. The company designs, develops and manufactures vascular access devices, guide wires, catheters, inflation devices, drainage systems, embolotherapy products, biopsy systems and endoscopy devices. Merit operates through cardiovascular and endoscopy segments, distributing globally via direct sales, independent distributors and contract manufacturers.

Summary from 10-K filed 2026-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	1,516	1,357	1,257	1,151	1,075
Cost of sales	778	713	673	632	589
Gross profit	738	643	584	519	485
Selling, general and administrative	455	400	374	343	336
Research and development	97	87	83	76	71
Impairment charges	—	—	270,000	2	4
Contingent consideration expense	984,000	443,000	2	5	3
Acquired in-process research and development	—	—	2	7	—
Total operating expenses	554	488	460	432	424
Income from operations	185	156	124	88	61
Interest income	15	26	2	439,000	769,000
Interest expense	−26	−31	−16	−6	—
Other (expense) income - net	−2	−711,000	1	966,000	−3
Total other expense - net	−14	−6	−12	−5	−7
Income before income taxes	171	150	112	83	54
Income tax expense	42	30	18	8	5
Net income	128	120	94	75	48
Basic (in dollars per share)	2.17	2.07	1.64	1.31	0.86
Diluted (in dollars per share)	2.13	2.03	1.62	1.29	0.84
Basic (in shares)	59	58	58	57	56
Diluted (in shares)	60	59	58	58	57

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	446	377	587	58	68
Trade receivables - net of allowance for credit losses - 2025 - $10,136 and 2024 - $9,729	204	190	178	165	152
Other receivables	18	17	11	13	18
Inventories	334	306	304	266	222
Prepaid expenses and other current assets	31	29	24	22	16
Prepaid income taxes	5	3	4	4	4
Income tax refund receivables	2	2	859,000	779,000	3
Total current assets	1,040	924	1,108	529	482
Land and land improvements	30	26	26	26	25
Buildings	200	192	191	189	190
Manufacturing equipment	365	341	317	299	278
Furniture and fixtures	61	61	63	61	61
Leasehold improvements	65	59	54	50	46
Construction-in-progress	83	59	61	61	51
Total property and equipment	805	738	713	686	652
Less accumulated depreciation	−376	−352	−329	−303	−281
Property and equipment - net	428	386	384	383	372
Goodwill	507	464	382	360	362
Deferred income tax assets	7	16	7	7	6
Right-of-use operating lease assets	88	66	63	65	66
Other assets	78	65	55	44	41
Total other assets	1,217	1,109	833	752	794
Total assets	2,686	2,419	2,325	1,664	1,648
Trade payables	61	69	66	69	56
Accrued expenses	159	134	120	123	159
Short-term operating lease liabilities	11	10	12	11	11
Income taxes payable	9	3	5	7	3
Total current liabilities	240	216	204	221	236
Long-term debt	734	730	823	187	234
Deferred income tax liabilities	20	240,000	6	18	32
Liabilities related to unrecognized tax benefits	2	2	2	2	932,000
Deferred compensation payable	18	19	17	15	18
Deferred credits	1	2	2	2	2
Long-term operating lease liabilities	77	55	56	60	62
Other long-term obligations	10	15	14	15	24
Total liabilities	1,102	1,039	1,123	520	608
Commitments and contingencies	—	—	—	—	—
Preferred stock - 5,000 shares authorized; no shares issued as of December 31, 2025 and December 31, 2024	0	0	0	0	0
Common stock, no par value - 100,000 shares authorized; issued and outstanding as of December 31, 2025 - 59,424 and December 31, 2024 - 58,743	764	703	638	675	642
Retained earnings	824	696	575	481	406
Accumulated other comprehensive loss	−4	−19	−11	−12	−8
Total stockholders' equity	1,584	1,379	1,202	1,144	1,040
Total liabilities and stockholders' equity	2,686	2,419	2,325	1,664	1,648

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	123	103	90	82	84
Gain on disposition of business	−249,000	—	−431,000	1	—
Loss on sale or abandonment of property and equipment	2	1	6	380,000	1
Write-off of certain intangible assets and other long-term assets	313,000	456,000	506,000	2	4
Amortization of right-of-use operating lease assets	11	12	11	10	12
Fair value adjustments related to contingent consideration liabilities	984,000	443,000	2	5	3
Amortization of deferred credits	−103,000	−103,000	−104,000	−107,000	−108,000
Amortization and write-off of long-term debt issuance costs	6	7	2	604,000	—
Deferred income taxes	5	−15	−13	−15	−5
Stock-based compensation expense	43	28	21	18	16
Trade receivables	−7	−14	−12	−15	−9
Other receivables	4	−6	2	4	−10
Inventories	−22	−2	−32	−48	−25
Prepaid expenses and other current assets	−3	−4	1	−2	−4
Prepaid income taxes	−2	709,000	−92,000	−379,000	125,000
Income tax refund receivables	246,000	−2	−58,000	2	739,000
Other assets	−2	−6	−6	657,000	−2
Trade payables	1	−2	−7	13	6
Accrued expenses	14	10	−2	−16	36
Income taxes payable	5	−2	−2	5	−119,000
Liabilities related to unrecognized tax benefits	80,000	206,000	—	−45,000	314,000
Deferred compensation payable	−2	2	2	−3	1
Operating lease liabilities	−11	−12	−11	−11	−12
Other long-term obligations	−947,000	1	−3	278,000	−858,000
Total adjustments	169	100	51	40	99
Net cash, cash equivalents, and restricted cash provided by operating activities	297	221	145	114	147
Property and equipment	−82	−35	−34	−45	−28
Intangible assets	−3	−3	−2	−3	−3
Proceeds from asset and business dispositions	303,000	5,000	632,000	—	—
Cash paid for notes receivable and other investments	−18	−10	−5	−1	−2
Cash paid in acquisitions, net of cash acquired	−145	−320	−135	−7	−7
Net cash, cash equivalents, and restricted cash used in investing activities	−247	−369	−175	−57	−37
Proceeds from issuance of common stock	28	41	16	20	21
Proceeds from issuance of long-term debt	—	—	1,199	215	98
Payments on long-term debt	—	−99	−580	−260	−207
Purchase of capped call option	—	—	−67	—	—
Long-term debt issuance costs	—	—	−677,000	—	—
Contingent payments related to acquisitions	−3	−261,000	−4	−33	−11
Payment of taxes related to an exchange of common stock	−10	−2	−5	−2	−576,000
Net cash, cash equivalents, and restricted cash provided by (used in) financing activities	16	−60	559	−60	−98
Effect of exchange rates on cash, cash equivalents, and restricted cash	4	−3	−484,000	−4	−801,000
Net increase (decrease) in cash, cash equivalents and restricted cash	70	−210	529	−7	11
Interest (net of capitalized interest of $1,398, $1,005 and $1,272, respectively)	21	23	14	6	5
Income taxes	31	45	32	17	9
Property and equipment purchases in accounts payable	3	13	8	4	3
Acquisition purchases in accrued expenses and other long-term obligations	4	5	4	4	—
Right-of-use operating lease assets obtained in exchange for operating lease liabilities	33	10	9	11	2

Filings

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Frequently asked questions

What is MERIT MEDICAL SYSTEMS INC's CIK number?

MERIT MEDICAL SYSTEMS INC's SEC CIK number is 0000856982 (856982). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find MERIT MEDICAL SYSTEMS INC's SEC filings?

All of MERIT MEDICAL SYSTEMS INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did MERIT MEDICAL SYSTEMS INC last report earnings?

MERIT MEDICAL SYSTEMS INC (MMSI) most recently filed an earnings 8-K with the SEC on Apr 30, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000856982-26-000023). This is MERIT MEDICAL SYSTEMS INC's most recent earnings filing of record — not a forecast of its next earnings date.

What is MERIT MEDICAL SYSTEMS INC's most recent earnings 8-K?

MERIT MEDICAL SYSTEMS INC's latest earnings 8-K (Item 2.02) was filed Apr 30, 2026 under accession 0000856982-26-000023. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View MERIT MEDICAL SYSTEMS INC's latest earnings 8-K →
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