Merit Medical Systems, Inc. (NASDAQ:MMSI) Q1 2023 Earnings Call Transcript April 26, 2023 5:00 PM ET Company Participants Fred Lampropoulos - Chairman and Chief Executive Officer Raul Parra - Chief Financial Officer Brian Lloyd - Chief Legal Officer and Corporate Secretary Conference Call Participants Steve Lichtman - Oppenheimer Jayson Bedford - Raymond James Mike Matson - Needham & Company Jim Sidoti - Sidoti & Company Jason Bednar - Piper Sandler Michael Petusky - Barrington Research William Plovanic - C ...

Merit Medical Investor Call April 26, 2023 an 2 TRADEMARKS 3 m In thousands, except percentages 5 5 6 6 7 • constant currency revenue; • constant currency revenue, organic; • non-GAAP gross profit and margin; • non-GAAP operating income and margin; • non-GAAP net income; • non-GAAP earnings per share; and • free cash flow. Readers should consider non-GAAP measures used in this presentation in addition to, not as a substitute for, financial reporting measures prepared in accordance with GAAP. These non-GAAP ...

Business Segments - The company operates through two segments: cardiovascular and endoscopy, with a focus on medical devices for vascular access and minimally invasive procedures [25]. - Cardiovascular segment includes product categories such as peripheral intervention, cardiac intervention, custom procedural solutions, and OEM [27]. - The endoscopy segment includes gastroenterology and pulmonary products, with a variety of kits and accessories for procedures [46]. Sales and Market Performance - U.S. sales accounted for 57% of net sales for the years ended December 31, 2022, 2021, and 2020 [55]. - In 2022, international sales grew by 7.4% compared to 2021, accounting for 43% of net sales, with China representing 13% of net sales at $149.3 million [56]. - The company achieved the highest annual revenue in its history in 2022, following growth in global sales as demand for products increased post-COVID-19 [58]. Product Development and Innovation - The company emphasizes rapid product development to meet customer needs, involving cross-departmental project teams for new product introductions [54]. - New product additions in 2022 included Prelude Roadster®, Sync EZ™, Safeguard Focus Cool™, and Scout BX™ [66]. - The company operates research and development facilities in California, Texas, Utah, Ireland, France, and Singapore, emphasizing innovation for continued growth [67]. Regulatory Compliance and Quality Standards - The company maintains a Corporate Integrity Agreement with the Office of Inspector General, requiring compliance with federal healthcare regulations [82]. - The company has received various ISO certifications for its facilities, ensuring adherence to international quality standards [68]. - Compliance with quality system regulations (QSR) is critical, as failure could lead to manufacturing shutdowns or product recalls, significantly impacting business operations [89]. Competition and Market Challenges - The company faces competition from larger firms such as Medtronic and Boston Scientific, but believes it holds a leading position in digital inflation technology [75]. - The company operates in a highly competitive market, facing competition from larger firms with greater resources [158]. - Consolidation in the healthcare industry has led to demands for price concessions, negatively impacting revenues [157]. Financial and Operational Risks - Elevated commodity and supply chain costs were experienced in 2022, with expectations for continued inflation in 2023 [149]. - The company faces challenges in passing increased costs onto customers due to the competitive nature of the healthcare industry [150]. - The company incurred substantial costs related to acquisitions and may face challenges in integrating acquired businesses, which could adversely affect financial results [166]. Legal and Regulatory Scrutiny - The company anticipates continued scrutiny from government authorities, which may increase compliance costs and expose it to litigation risks [188]. - The company is subject to various laws targeting fraud and abuse in the healthcare industry, with violations potentially leading to substantial fines and exclusion from healthcare programs [189]. - The company paid $18.7 million to resolve a DOJ investigation into past marketing practices, which included interest and fees, and is now operating under a Corporate Integrity Agreement (CIA) [187]. Data Privacy and Security - Privacy and data security compliance is increasingly complex, with potential fines for violations of laws such as GDPR and PIPL impacting operational costs [108]. - The company faces stringent privacy regimes, including GDPR in the EU, which imposes severe penalties for non-compliance and requires prompt notification of data breaches [109]. - Cyber-attacks could lead to unauthorized access to sensitive information, resulting in regulatory sanctions and damage to the company's reputation [222]. Employee and Talent Management - As of December 31, 2022, the company had 6,846 employees across approximately 40 countries, emphasizing the importance of attracting and retaining talent in the competitive medical device industry [126]. - The company achieved its eighth consecutive year of zero healthcare plan cost increases for U.S. employees participating in group healthcare plans, reflecting its focus on competitive health and wellness benefits [131]. - The company hired its first Director of Global Talent Management in 2021 to enhance global talent management programs, with a performance management program set to launch in 2023 [132]. Sustainability and Corporate Responsibility - The company has established a Corporate Sustainability Council to drive long-term Environment, Social, and Governance (ESG) goals across its enterprise [121]. - The company has identified sustainability opportunities, including programs to reduce waste and greenhouse gas emissions, as part of its business strategy [123]. - In 2022, the company supported humanitarian missions through product donations in five countries, including Haiti and Kenya [133].

Merit Medical Systems, Inc. (NASDAQ:MMSI) Q4 2022 Earnings Conference Call February 22, 2023 5:00 PM ET Company Participants Fred Lampropoulos - Founder, Chairman & Chief Executive Officer Brian Lloyd - Chief Legal Officer & Corporate Secretary Raul Parra - Chief Financial Officer & Treasurer Conference Call Participants Steve Lichtman - Oppenheimer Jayson Bedford - Raymond James Mike Matson - Needham & Company Jim Sidoti - Sidoti & Company Lawrence Biegelsen - Wells Fargo Michael Petusky - Barrington Resea ...

Merit Medical Investor Call February 22, 2023 Fred Lampropoulos Chairman and CEO Raul Parra CFO m CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This presentation and any accompanying management commentary include "forward-looking statements," as defined within applicable securities laws and regulations. All statements in this presentation, other than statements of historical fact, are "forward-looking statements", including, without limitation, statements regarding Merit's forecasted plans, net ...

Merit Medical Systems, Inc. (NASDAQ:MMSI) Q3 2022 Earnings Conference Call October 26, 2022 5:00 PM ET Company Participants Fred Lampropoulos - President & CEO Brian Lloyd - Chief Legal Officer & Corporate Secretary Raul Parra - CFO Conference Call Participants Jayson Bedford - Raymond James Larry Biegelsen - Wells Fargo Mike Matson - Needham & Company William Plovanic - Canaccord Genuity Jason Bednar - Piper Sandler Jim Sidoti - Sidoti & Company Michael Petuski - Barrington Research Operator Good day and t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 0-18592 MERIT MEDICAL SYSTEMS, INC. (Exact name of registrant as specified in its charter) Utah 87-0447695 (State or other j ...

Call Start: 17:00 January 1, 0000 6:00 PM ET Merit Medical Systems, Inc. (NASDAQ:MMSI) Q2 2022 Earnings Conference Call July 27, 2022 17:00 ET Company Participants Fred Lampropoulos - President & Chief Executive Officer Brian Lloyd - Chief Legal Officer & Corporate Secretary Raul Parra - Chief Financial Officer Conference Call Participants Jayson Bedford - Raymond James Larry Biegelsen - Wells Fargo Steve Lichtman - Oppenheimer & Company Jim Sidoti - Sidoti & Company Mike Matson - Needham & Company William ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 0-18592 MERIT MEDICAL SYSTEMS, INC. (Exact name of registrant as specified in its charter) Utah 87-0447695 (State or other ...

First Quarter 2022 Results 1 Merit Medical Investor Call April 27, 2022 Fred Lampropoulos Chairman and CEO Raul Parra CFO an | --- ...