SOUTH JORDAN, Utah, May 21, 2024 (GLOBE NEWSWIRE) -- Merit Medical Systems, Inc. (NASDAQ: MMSI), a global leader of healthcare technology, today announced the US commercial release of the basixSKY Inflation Device. CONTACTS PR/Media Inquiries Sarah Comstock Merit Medical +1-801-432-2864 |sarah.comstock@merit.com INVESTOR INQUIRIES Mike Piccinino, CFA, IRC Westwicke - ICR +1-443-213-0509 |mike.piccinino@westwicke.com TRADEMARKS Unless noted otherwise, trademarks and registered trademarks used in this release ...

Core Points - Merit Medical Systems, Inc. announced the election of Silvia M. Perez as a director during its Annual Meeting of Shareholders held on May 15, 2024 [1] - Shareholders also re-elected Fred P. Lampropoulos and Stephen C. Evans as directors, all serving three-year terms [1] Group 1: Leadership Changes - Silvia Perez brings over two decades of experience in the healthcare industry, with a strong background in clinical, regulatory, operations, marketing, and business leadership [2] - Mr. Lampropoulos expressed confidence that Ms. Perez's expertise will provide valuable insights for the company's growth initiatives [2] - Ms. Perez has held various leadership roles at 3M Company since 1994, including President of the Commercial Solutions Division and Vice President of Acelity, Inc. [3] Group 2: Educational Background - Ms. Perez holds a pharmaceutical chemist degree from the University of the Republic in Uruguay and is an industrial pharmacist educated at the Federal University of Parana in Brazil [4] - She possesses Six Sigma Black Belt and Master Black Belt certifications, indicating a strong foundation in quality management and process improvement [4] Group 3: Company Overview - Merit Medical Systems, founded in 1987, specializes in the development, manufacture, and distribution of proprietary disposable medical devices for interventional, diagnostic, and therapeutic procedures [5] - The company serves hospitals worldwide with a sales force and clinical support team of over 700 individuals and employs approximately 7,000 people globally [5]

Core Points - Merit Medical Systems, Inc. announced the election of Silvia M. Perez as a director during its Annual Meeting of Shareholders on May 15, 2024 [1] - Shareholders also re-elected Fred P. Lampropoulos and Stephen C. Evans for three-year terms [1] - Mr. Lampropoulos expressed confidence that Ms. Perez's leadership experience will enhance the board's and management's perspective as the company pursues growth initiatives [2] - Ms. Perez has over two decades of experience in the healthcare industry, with a strong background in various leadership roles [2][3] - She has been with 3M Company since 1994, holding significant positions including President of Commercial Solutions Division [3] - Ms. Perez holds degrees in pharmaceutical chemistry and industrial pharmacy, along with Six Sigma Black Belt certifications [4] Company Overview - Merit Medical Systems, founded in 1987, specializes in the development, manufacture, and distribution of proprietary disposable medical devices [5] - The company focuses on interventional, diagnostic, and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care, and endoscopy [5] - Merit Medical serves hospitals globally with a sales force and clinical support team of over 700 individuals and employs approximately 7,000 people worldwide [5]

SOUTH JORDAN, Utah, May 14, 2024 (GLOBE NEWSWIRE) -- Merit Medical Systems, Inc. (NASDAQ:MMSI), a global leader of healthcare technology, today announced US Food and Drug Administration (FDA) 510(k) clearance for its Siege Vascular Plug. Merit also announced the launch of its Bearing nsPVA Express Prefilled Syringe in the United States and Australia. The latest additions to Merit's Embolics portfolio, Siege Vascular Plug and Bearing nsPVA Express, complement a comprehensive offering of microsphere, particle ...

Merit Medical Systems, Inc. (MMSI) delivered adjusted earnings per share (EPS) of 77 cents in the first quarter of 2024 compared with 64 cents in the year-ago period. The figure surpassed the Zacks Consensus Estimate by 8.5%.The adjustments include expenses related to the amortization of intangibles, and Medical Device Regulation expenses, among others.GAAP EPS for the quarter was 48 cents compared with 36 cents in the year-ago period.Revenues in DetailMerit Medical registered revenues of $323.5 million in ...

Merit Medical (MMSI) reported $323.51 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 8.7%. EPS of $0.77 for the same period compares to $0.64 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $315.93 million, representing a surprise of +2.40%. The company delivered an EPS surprise of +8.45%, with the consensus EPS estimate being $0.71.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

Merit Medical (MMSI) came out with quarterly earnings of $0.77 per share, beating the Zacks Consensus Estimate of $0.71 per share. This compares to earnings of $0.64 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.45%. A quarter ago, it was expected that this maker of disposable medical devices would post earnings of $0.77 per share when it actually produced earnings of $0.81, delivering a surprise of 5.19%.Over the last fou ...

Financial Performance - Q1 2024 - Merit Medical reported revenue of $323508 thousand for Q1 2024, an increase of 87% compared to $297565 thousand in Q1 2023[8] - On a constant currency basis, revenue increased by 93% to $325200 thousand[30] - Organic constant currency revenue grew by 70% to $318472 thousand, excluding revenue from certain acquisitions[30] - GAAP net income was $28240 thousand ($048 per share) compared to $20703 thousand ($036 per share) in Q1 2023, representing a 355% increase in EPS[56] - Non-GAAP net income increased by 195% to $44828 thousand ($077 per share) from $37515 thousand ($064 per share) in Q1 2023[32, 56] Regional Performance - Q1 2024 - US revenue increased by 86% to $186094 thousand from $171360 thousand in Q1 2023[8] - APAC revenue increased by 93% to $62865 thousand from $57536 thousand in Q1 2023[8] - EMEA revenue increased by 51% to $61006 thousand from $58053 thousand in Q1 2023[8] - Rest of World revenue increased significantly by 276% to $13543 thousand from $10616 thousand in Q1 2023[8] - Total International revenue increased by 89% to $137414 thousand from $126205 thousand in Q1 2023[8] 2024 Financial Guidance - The company reaffirmed its 2024 net sales guidance, projecting a 43% to 54% increase from the prior year, equating to $1312 - $1325 billion[17, 38] - The estimated impact of foreign currency exchange rate fluctuations is 05%[17] - The company anticipates non-GAAP earnings per share of $328 - $335, representing a 9% - 11% increase[38]

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, 2024 OR (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (801) 253-1600 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Nu ...

Financial Data and Key Metrics Changes - The company reported total revenue of $324.5 million in Q4 2023, representing a 10.6% year-over-year increase on a GAAP basis and a 10.3% increase on a constant currency basis [49][35] - Non-GAAP gross profit and operating profit grew by 13% each, leading to year-over-year margin expansions of 100 basis points and 40 basis points respectively [35][63] - Non-GAAP diluted earnings per share were $0.81, up from $0.79 in the prior year [97] Business Line Data and Key Metrics Changes - The cardiovascular segment drove revenue growth with a 10% increase, while the endoscopy segment saw a 20% increase [42] - Organic growth in the peripheral intervention (PI) product category was 19%, with drainage and radar localization products contributing significantly [58] - Cardiac intervention product sales increased by 35%, while custom procedural solutions (CPS) sales increased by 1%, better than expected [59][60] Market Data and Key Metrics Changes - U.S. sales increased by 13% on a constant currency basis, exceeding growth expectations by nearly 300 basis points [61] - International sales grew by 7% on an organic constant currency basis, with EMEA region growth at 7% and the rest of the world at 30% [62] - The APAC region experienced a 4% growth, primarily impacted by challenges in China [22][72] Company Strategy and Development Direction - The company introduced the Continued Growth Initiatives (CGI) program, aiming for above-market profitable growth and a target of $1.46 billion in revenue by 2026 [37][55] - The focus remains on product offering optimization, SKU rationalization, and enhancing customer engagement through education [39][40] - The company anticipates generating at least $400 million in cumulative free cash flow during the CGI program period [41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving strong financial results, highlighting a commitment to ongoing initiatives that enhance profitability and growth [81][84] - The company acknowledged headwinds from SKU rationalization impacting revenue but expects to return to a growth trajectory of 5% to 7% in the future [126] - Management noted that the operating environment remains challenging, particularly in the APAC region due to volume-based purchasing pressures [72] Other Important Information - The company had cash and cash equivalents of $587 million and total debt obligations of $846.6 million as of December 31, 2023 [66] - Free cash flow generation improved significantly, with over $110 million generated in 2023 [100] - The company expects GAAP revenue growth of 4.3% to 5.4% year-over-year for 2024 [70] Q&A Session Summary Question: Can you provide insights on margin expansion and the balance between gross margin and operating expenses? - Management indicated that gross margin expansion is a primary driver of operating margin growth, with operating expense leverage contributing more at the higher end of the range [109] Question: What is the outlook for free cash flow and capital expenditures? - The company expects higher free cash flow driven by increased operating income and working capital improvements, with CapEx projected at 4% to 4.5% of sales [117] Question: How does the company view M&A opportunities? - Management stated that while they are continuously evaluating opportunities, any potential deals must align with strategic objectives and not disrupt existing operations [140][141]