Q4 2024 Merit Medical Systems Inc Earnings Call Transcript
Key Points
- Merit Medical Systems Inc (MMSI) reported a total revenue of $355.2 million for Q4 2024, marking a 9% year-over-year increase on a GAAP basis and a 10% increase on a constant currency basis.
- The company achieved a non-GAAP operating profit growth of 30% and a non-GAAP operating margin of 19.6%, up approximately 305 basis points year-over-year.
- Non-GAAP earnings per share grew by 26%, exceeding the high end of expectations.
- Merit Medical Systems Inc (MMSI) generated strong free cash flow of more than $185 million in 2024, up 67% year-over-year.
- The Cardiovascular segment saw an 8% growth, and the Endoscopy segment experienced an 88% growth in Q4 2024.
- The company's EPS guidance for 2025 was perceived as conservative, partly due to accounting on the convertible note, which added $0.11 of dilution.
- International sales growth was softer than expected, particularly in the EMEA region, due to softness in Russia and distributor markets.
- Operating expenses increased by 9% in Q4 2024, driven by a 6% increase in SG&A expenses and a 26% increase in R&D expenses.
- The Endoscopy segment's guidance for 2025 was slightly lower than anticipated, attributed to the integration of two sales forces.
- Merit Medical Systems Inc (MMSI) faces potential headwinds from tariffs, which are not factored into the 2025 financial guidance.
Welcome to the Merit Medical Systems fourth-quarter 2024 earnings conference call. (Operator Instructions). Please note that this conference call is being recorded and that the recording will be available on the company's website for replay shortly. I would now like to turn the call over to Mr. Fred Lampropoulos, Merit Medical Systems' Founder, Chairman, and Chief Executive Officer. Please go ahead, sir.
Thank you, and welcome, everyone. I am joined on the call today by Raul Parra, our Chief Financial Officer and Treasurer; and Brian Lloyd, our Chief Legal Officer and Corporate Secretary. Brian, would you mind taking us through the safe harbor statements, please?
Thank you, Fred. This presentation contains forward-looking statements that receive safe harbor protection under federal securities laws. Although we believe these forward
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
