- Merit Medical Systems (MMSI, Financial) reported a Q1 2025 revenue of $355.4 million, marking a 9.8% year-over-year growth.
- The company's non-GAAP EPS surged by 14.8% to $0.86, while its GAAP EPS saw a 2.0% increase to $0.49.
- While revenue guidance for 2025 remains at $1.470-$1.490 billion, non-GAAP EPS guidance has been adjusted to $3.29-$3.42 due to trade policy impacts.
Merit Medical Systems, Inc. (MMSI), a prominent player in healthcare technology, announced robust financial results for the first quarter of 2025. The company recorded a revenue of $355.4 million, reflecting a 9.8% growth compared to the previous year. The revenue growth on a constant currency basis was even stronger at 10.9%.
Key financial metrics underline the company's solid performance, with a GAAP operating margin of 11.5%, an increase from 11.1%, and a non-GAAP operating margin of 19.3%, up from 17.0%. Notably, the non-GAAP EPS rose by 14.8% to $0.86, whereas the GAAP EPS climbed by 2.0% to $0.49.
Despite the impressive Q1 results, Merit adjusted its full-year non-GAAP EPS guidance to $3.29-$3.42, citing recent trade policy impacts as the reason for this update. However, the company maintained its revenue forecast for 2025, expecting to achieve between $1.470 billion and $1.490 billion, reflecting an 8-10% year-over-year growth.
Segment-wise, the Endoscopy segment posted remarkable growth of 64.2%, and the core Cardiovascular segment, accounting for 95% of the revenue, exhibited an 8.1% expansion. Conversely, the Custom Procedural Solutions segment saw a slight decrease in revenue by 1.2%.
As of the end of the first quarter, Merit Medical's balance sheet showed cash and cash equivalents of $395.5 million against total debt obligations of $747.5 million, ensuring the company's financial flexibility moving forward.
