| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 416.24 | 0.6% | 8.3% |
| Total Income | 416.24 | 0.6% | 8.3% |
| Expenditure | 357.48 | 0.3% | 4.7% |
| PBT | 55.79 | 8.7% | 44.8% |
| Net Profit | 42.31 | 9.1% | 52.4% |
| OPM | 14.12% | 0.30pp | 3.03pp |
| NPM | 10.16% | 0.90pp | 2.94pp |
| EPS | 0.71 | 9.2% | 51.1% |
Merit Medical Reports Q3 2026 Results: 9% Organic Revenue Growth and Raised Full-Year Guidance
30 Oct 2026 · 30 Oct, 1:43 am
Summary
Merit Medical announced strong third quarter 2026 results, exceeding expectations with 9% organic, constant currency revenue growth. The company reported revenue of $416.2 million, up 8.4% year-over-year, and saw significant improvements in profitability with GAAP operating margin at 14.1% and non-GAAP EPS up 22% to $1.12. Management raised full-year 2026 guidance for both revenue and non-GAAP earnings per share, expressing confidence in the team's ability to execute and deliver on growth and profitability targets.
Key Highlights
- 1
Merit Medical reported third quarter revenue of $416.2 million, an increase of 8.4% compared to the prior year period.
- 2
Constant currency revenue and constant currency organic revenue grew by 8% and 9%, respectively.
- 3
GAAP operating margin improved to 14.1% from 11.1% in the prior year period.
- 4
GAAP EPS was $0.70, a 51% increase year-over-year.
- 5
Non-GAAP EPS increased by 22% to $1.12 compared to the prior year period.
- 6
The company raised its full-year 2026 revenue and non-GAAP earnings per share guidance.
- 7
Cash flow from operations was $175.2 million year-to-date, with free cash flow generation of $129.5 million year-to-date.
Management Comments
Martha G. Aronson
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. 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. This acquisition expands our Cardiac Therapies platform and further strengthens our position in the structural heart market. Through our exclusive distribution relationship, we have seen a favorable response from clinicians. That experience reinforces our confidence in the technology and the opportunity to support its next phase of growth. We look forward to leveraging our commercial, clinical, and physician education capabilities to expand adoption in the United States and, over time, bring these solutions to more physicians and patients worldwide.
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