MERIT MEDICAL SYSTEMS INCMMSIEarnings & Financial Report
Merit Medical Systems Inc. is a global medical device firm that designs, manufactures, and markets a broad portfolio of interventional and diagnostic products used across cardiology, radiology, oncology, endoscopy, and critical care segments. It primarily serves hospitals, clinics, and healthcare providers worldwide, focusing on minimally invasive solutions that enhance patient outcomes and streamline clinical workflows.
MMSI Q4 2025 Key Financial Metrics
Revenue
$393.9M
Gross Profit
$195.4M
Operating Profit
$54.2M
Net Profit
$38.0M
Gross Margin
49.6%
Operating Margin
13.8%
Net Margin
9.6%
YoY Growth
10.9%
EPS
$0.64
Financial Flow
MERIT MEDICAL SYSTEMS INC Q4 2025 Financial Summary
MERIT MEDICAL SYSTEMS INC reported revenue of $393.9M (up 10.9% YoY) for Q4 2025, with a net profit of $38.0M (up 36.0% YoY) (9.6% margin). Cost of goods sold was $198.6M, operating expenses totaled $141.2M.
Key Financial Metrics
| Total Revenue | $393.9M |
|---|---|
| Net Profit | $38.0M |
| Gross Margin | 49.6% |
| Operating Margin | 13.8% |
| Report Period | Q4 2025 |
Revenue Breakdown
MERIT MEDICAL SYSTEMS INC Q4 2025 revenue of $393.9M breaks down across 6 segments, led by Other at $154.6M (39.2% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Other | $154.6M | 39.2% |
| Peripheral Intervention | $93.2M | 23.7% |
| Cardiac Intervention | $50.2M | 12.8% |
| OEM | $42.6M | 10.8% |
| Custom Procedural Solutions | $33.1M | 8.4% |
| Endoscopy Segment | $20.1M | 5.1% |
MERIT MEDICAL SYSTEMS INC Revenue by Segment — Quarterly Trend
MERIT MEDICAL SYSTEMS INC revenue by segment across the last 4 reported quarters, showing how each business line (such as Other and Peripheral Intervention) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| Other | $154.6M | $135.8M | $136.9M | $109.3M |
| Peripheral Intervention | $93.2M | $84.5M | $84.0M | $80.2M |
| Cardiac Intervention | $50.2M | $49.6M | $46.1M | $41.4M |
| OEM | $42.6M | $46.1M | $46.9M | $47.0M |
| Custom Procedural Solutions | $33.1M | $33.5M | $32.7M | $29.2M |
MERIT MEDICAL SYSTEMS INC Annual Revenue by Year
MERIT MEDICAL SYSTEMS INC annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.5B). Click any linked year to see what changed vs the prior annual report.
MERIT MEDICAL SYSTEMS INC Quarterly Revenue & Net Profit History
MERIT MEDICAL SYSTEMS INC results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $393.9M | +10.9% | $38.0M | 9.6% |
| Q3 2025 | $384.2M | +13.0% | $27.8M | 7.2% |
| Q2 2025 | $382.5M | +13.2% | $32.6M | 8.5% |
| Q1 2025 | $355.4M | +9.8% | $30.1M | 8.5% |
| Q4 2024 | $355.2M | +9.4% | $27.9M | 7.9% |
| Q3 2024 | $339.8M | +7.8% | $28.4M | 8.4% |
| Q2 2024 | $338.0M | +5.6% | $35.7M | 10.6% |
| Q1 2024 | $323.5M | +8.7% | $28.2M | 8.7% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $323.5M | $338.0M | $339.8M | $355.2M | $355.4M | $382.5M | $384.2M | $393.9M |
| YoY Growth | 8.7% | 5.6% | 7.8% | 9.4% | 9.8% | 13.2% | 13.0% | 10.9% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $2.33B | $2.37B | $2.38B | $2.42B | $2.47B | $2.59B | $2.63B | $2.69B |
| Liabilities | $1.09B | $1.09B | $1.05B | $1.04B | $1.04B | $1.10B | $1.10B | $1.10B |
| Equity | $1.24B | $1.28B | $1.32B | $1.38B | $1.43B | $1.49B | $1.53B | $1.58B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $36.2M | $68.5M | $47.3M | $68.7M | $40.6M | $83.3M | $75.0M | $98.5M |