NASDAQ$MMSI

Merit Medical Systems Inc · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

Merit Medical Systems reported Q4 2025, revenue of $393.9M, net income of $38M, diluted EPS of $0.63.

For Q4 2025, Merit Medical Systems reported revenue of $393.9M, net income of $38M, diluted EPS was $0.63, adjusted diluted EPS was $1.04 per the quarterly earnings release and SEC filing.

  • Revenue $393.9M.
  • Net income $38M.
  • Diluted EPS $0.63.
  • Adjusted EPS $1.04.

Headline financials

Total Revenue

$394M

Previous: $355M+10.9%
EPS (adj)

$1.04

Previous: $0.93+11.8%
GAAP Operating Margin

13.8%

No prior period
Non-GAAP Operating Margin

21.0%

No prior period
GAAP Gross Margin

49.6%

No prior period
Free Cash Flow Growth

13.0%

No prior period
Net Income

$38M

Previous: $27.9M+36.0%
Operating Income

$54.2M

Previous: $36.6M+48.2%
Gross Profit

$195M

Previous: $173M+12.9%

Revenue & EPS history

Merit Medical · Revenue · Quarterly

$394M

Q4 2025+10.9%vs Q4 2024
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Revenue by segment

Merit Medical · $9.15M total across 1 segment · Q3 2023

  • Endoscopy
    $9.15M+11.2%

Forward guidance

Merit Medical Systems outlook reflects management commentary on growth, costs, and capital in the filing.

Tailwinds

  • Liquidity and balance sheet discussed.
  • Core operating trends in MD&A.

Headwinds

  • Macro and competitive pressure.
  • One-time items may affect comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

-0.1%

Avg return

Earnings day

-0.3%

Avg return

5 days after

+1.8%

Avg return

30 days after

52%

34 / 65 earnings

Positive

+16.5%

Q3 2014

Best reaction

-31.4%

Q3 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+5.2%-6.8%-2.8%
Q4 2025-3.8%-7.2%-16.6%
Q3 2025+5.1%+4.9%+4.3%
Q1 2025-0.1%-0.2%+0.7%
Q4 2024-1.5%+1.0%+1.9%
Q3 2024+2.9%+3.3%+8.3%
Q2 2024+4.0%+5.0%+13.4%
Q1 2024+2.1%+5.2%+7.8%
Q4 2023-5.3%-4.9%-5.9%
Q3 2023+7.7%+7.3%+12.9%
Q2 2023-9.6%-8.3%-16.4%
Q1 2023+4.7%+5.1%+4.3%
Q4 2022+2.8%+1.3%+3.7%
Q3 2022+7.0%+14.6%+19.6%
Q2 2022+6.0%+10.6%+10.0%
Q1 2022-3.7%-4.7%-5.2%
Q4 2021+8.4%+9.3%+5.0%
Q3 2021-1.8%-5.1%-3.5%
Q2 2021+7.6%+3.9%+10.1%
Q1 2021-0.2%+1.4%-5.3%
Q4 2020-1.8%-0.4%+1.9%
Q3 2020+5.2%+1.3%+11.7%
Q2 2020+4.3%-1.9%+11.6%
Q1 2020+9.0%+6.5%+21.4%
Q4 2019+0.4%-9.5%-17.0%
Q3 2019-31.4%-15.5%-7.0%
Q2 2019-24.7%-26.2%-37.2%
Q1 2019-1.9%-4.7%-9.4%
Q4 2018-4.3%-2.1%+1.6%
Q3 2018-4.1%-5.3%-3.5%
Q2 2018+2.8%-3.1%+3.3%
Q1 2018+2.8%+7.5%+18.7%
Q4 2017-2.1%-5.1%-3.3%
Q3 2017-9.7%-11.0%+4.6%
Q2 2017+4.8%+5.5%+4.6%
Q1 2017+8.2%+8.2%+11.6%
Q4 2016+5.9%+4.8%+0.0%
Q3 2016-5.0%-5.0%+5.2%
Q2 2016+6.1%+6.7%+6.5%
Q1 2016+2.5%
Q4 2015-2.8%
Q3 2015-27.3%
Q2 2015+10.7%
Q1 2015+9.5%
Q4 2014+7.7%
Q3 2014+16.5%
Q2 2014-14.4%
Q1 2014-5.4%
Q4 2013+1.2%
Q3 2013+15.4%
Q2 2013+7.6%
Q1 2013-13.9%
Q4 2012-14.7%
Q3 2012-2.8%
Q2 2012-0.5%
Q1 2011-0.7%
Q4 2011-0.7%
Q1 2012+1.1%
Q1 2010-1.6%
Q4 2009-1.6%
Q3 2010-1.1%
Q3 2011-1.1%
Q2 2011+1.6%
Q2 2010+1.6%
Q4 2010+1.6%

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