| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 418.84 | 9.7% | 9.5% |
| Total Income | 418.84 | 9.7% | 9.5% |
| Expenditure | 358.44 | 6.1% | 6.8% |
| PBT | 51.31 | 4.2% | 18.3% |
| Net Profit | 38.80 | 5.4% | 19.1% |
| OPM | 14.42% | 2.86pp | 2.16pp |
| NPM | 9.26% | 1.47pp | 0.74pp |
| EPS | 0.65 | 5.8% | 18.2% |
Merit Medical Reports Q2 2026 Results and Updates Full-Year 2026 Guidance
31 Jul 2026 · 31 Jul, 1:48 am
Summary
Merit Medical announced strong second quarter 2026 results, with revenue reaching $418.8 million, a 10% increase year-over-year, driven by 9% organic constant currency growth. The company demonstrated improved profitability with GAAP operating margin rising to 14.4% and non-GAAP operating margin to 22.6%. Both GAAP and non-GAAP EPS saw significant year-over-year increases, reaching $0.65 and $1.19 respectively. Management expressed confidence in executing their Continued Growth Initiative and has raised full-year 2026 revenue and non-GAAP EPS guidance.
Key Highlights
- 1
Merit Medical reported second quarter 2026 revenue of $418.8 million, an increase of 10% compared to the prior year period.
- 2
Constant currency revenue grew by 9% and organic constant currency revenue also increased by 9% for the second quarter of 2026.
- 3
The company achieved a GAAP operating margin of 14.4% in Q2 2026, up from 12.3% in the second quarter of 2025.
- 4
Non-GAAP operating margin for Q2 2026 was 22.6%, an improvement from 21.2% in the prior year period.
- 5
GAAP Earnings Per Share (EPS) for the second quarter of 2026 was $0.65, a 20% increase year-over-year.
- 6
Non-GAAP EPS for Q2 2026 was $1.19, up 18% compared to the second quarter of 2025.
- 7
Merit Medical updated its full-year 2026 guidance, anticipating total revenue between $1.631 billion and $1.643 billion.
Management Comments
Martha G. Aronson
Merit delivered second 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 improving revenue growth trends across our global business in Q2, as expected, with notable strength in sales to customers in the U.S. which increased 10% year-over-year, well ahead of our expectations. We also delivered improvement in both our non-GAAP operating margin and our non-GAAP earnings per share, which increased by 140 basis points and 18%, respectively, year-over-year. We have increased our 2026 revenue and non-GAAP earnings per share guidance to reflect the stronger-than-expected results over the first half 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 developing 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.
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