Merit Medical Reports Third Quarter 2026 Results: Delivers 9% Organic Constant Currency Revenue Growth and Raises Full-Year 2026 Guidance
Key Highlights
- ➤Revenue $416.2 million, up 8.4% year over year
- ➤Organic constant currency revenue growth reached 9%
- ➤Non-GAAP EPS $1.12, up 22% year over year
- ➤Raised 2026 revenue guidance to $1.635-$1.642 billion
- ➤Raised 2026 non-GAAP EPS guidance to $4.33-$4.37
Expert Statements
Martha G. Aronson, President and CEO of Merit Medical Systems, Inc.
“Merit delivered third quarter financial results that exceeded the high end of our expectations, driven primarily by 9% organic, constant currency revenue growth, excluding the impact of a strategic divestiture. We experienced strong revenue growth trends in the U.S. and better-than-expected demand for Merit’s products across both our Foundational and our Therapeutic platforms. We also delivered strong growth in both our non-GAAP operating profit and our non-GAAP earnings per share, which increased 17% and 22%, respectively, year-over-year.”
Martha G. Aronson, President and CEO of Merit Medical Systems, Inc.
“We have raised our 2026 revenue and non-GAAP earnings per share guidance to reflect the stronger-than-expected results over the first nine months of 2026 and remain confident in our team’s ability to execute, with attractive constant currency growth, improving profitability, and solid cash flow generation this year. Our team remains focused on delivering our Continued Growth Initiative financial targets for the three-year period ending December 31, 2026, and, in parallel, we are finalizing our longer-term strategic plan focused on identifying opportunities to better position the company for sustainable growth, enhanced profitability and value creation for our shareholders.”
Financial Highlights† * Reported revenue of $416.2 million, up 8.4% * Constant currency revenue* and constant currency revenue, organic* up 8% and up 9%, respectively * GAAP operating margin of 14.1%, compared to 11.1% in prior year period * Non-GAAP operating margin* of 21.3%, compared to 19.7% in prior year period * GAAP EPS $0.70, up 51% * Non-GAAP EPS* $1.12, up 22% * Cash flow from operations of $175.2 million year-to-date * Free cash flow* generation of $129.5 million year-to-date † Comparisons above are calculated for the current quarter compared with the third quarter of 2025, unless otherwise specified. Amounts stated in this release are rounded, while percentages are calculated from the underlying amounts.
* Constant currency revenue; constant currency revenue, organic; non-GAAP gross profit and margin; non-GAAP operating income and margin; non-GAAP net income; non-GAAP EPS; and free cash flow figures (used here and below) are non-GAAP financial measures. A reconciliation of these financial measures to their most directly comparable GAAP financial measures is included under the heading “Non-GAAP Financial Measures” below.
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