Education
About Us
Working with TipRanks
Follow Us
Merit Medical Systems (MMSI)
NASDAQ:MMSI
Earnings Data
Report Date
Apr 23, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.83Last Year’s EPS
0.86Same Quarter Last Year
Strong Buy
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong underlying performance: revenue and margin expansion, record quarterly free cash flow, and full-year results that exceeded the high end of prior guidance. Management set measured 2026 guidance that anticipates continued margin expansion and solid cash generation while calling out known headwinds — notably tariffs, OEM destocking, the impact of the DualCap divestiture, China/VBP effects, and some supply chain lumpiness. Strategic initiatives (platform alignment, product pipeline and disciplined M&A) and a supportive balance sheet were highlighted as offsets to near-term challenges.Company Guidance
Quarterly Revenue Growth Exceeded Expectations
Q4 2025 total revenue of $393.9 million, up 11% year-over-year on a GAAP basis and up 10% year-over-year on a constant currency basis; organic constant currency growth in Q4 was 6.6%, modestly above guidance.
Strong Profitability and Margin Expansion
Q4 non-GAAP operating margin increased 138 basis points year-over-year to 21.0%; gross margin in Q4 was 54.5%, up 103 basis points year-over-year and the highest quarterly gross margin in company history.
Earnings and Cash Flow Outperformance
Q4 non-GAAP EPS grew 12% year-over-year and exceeded the high end of guidance; Q4 free cash flow was a company quarterly record of $74 million, up 13% year-over-year.
Strong Full-Year 2025 Financial Results
Full year 2025 constant currency revenue growth of 11%; non-GAAP operating margin of 20.3%, a 131 basis point increase year-over-year; nearly $216 million of free cash flow in 2025, up 16% year-over-year — all exceeding the high end of original 2025 guidance (10% revenue growth, 19.7% margin, $150M FCF).
Product and Segment Strength Driving Growth
Cardiovascular segment +9% in Q4 and Endoscopy +15% in Q4. Cardiac Intervention product sales increased 21% (12% organic excluding acquisitions); Peripheral Intervention sales increased 13% with radar localization and delivery systems >25% year-over-year, contributing materially to PI growth.
Healthy Balance Sheet and Leverage
As of Dec 31, 2025: cash and cash equivalents $446.4 million, total debt $747.5 million, available borrowing capacity ~ $697 million; adjusted net leverage ratio was 1.6x.
2026 Guidance Reflects Continued Profitability and Cash Generation
2026 guidance: GAAP revenue growth 6%–8% (constant currency 5%–7%); organic constant currency growth ~4.5%–6% excluding expected inorganic contributions; non-GAAP diluted EPS $4.01–$4.15 (up 5%–8%); non-GAAP operating margin expansion of ~36–76 basis points; free cash flow at least $200 million and CapEx ~ $90 million.
Strategic Progress and Platform Approach
CEO transition and new leadership/operating structure completed; platform alignment (foundational vs therapeutic products) clarified; continued multi-year CGI targets reiterated: organic revenue CAGR 5%–7%, non-GAAP operating margin 20%–22%, cumulative free cash flow > $400M through 2026.
MMSI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MMSI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 24, 2026 | $82.43 | $79.23 | -3.88% |
Oct 30, 2025 | $83.04 | $87.54 | +5.42% |
Jul 30, 2025 | $82.96 | $84.86 | +2.29% |
Apr 24, 2025 | $94.67 | $94.61 | -0.06% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Merit Medical Systems (MMSI) report earnings?
Merit Medical Systems (MMSI) is schdueled to report earning on Apr 23, 2026, After Close (Confirmed).
What is Merit Medical Systems (MMSI) earnings time?
Merit Medical Systems (MMSI) earnings time is at Apr 23, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MMSI EPS forecast?
MMSI EPS forecast for the fiscal quarter 2026 (Q1) is 0.83.