Merit Medical(US:MMSI) Globenewswire·2025-07-30 20:05Core Insights - Merit Medical Systems, Inc. reported revenue of $382.5 million for Q2 2025, reflecting a 13.2% increase compared to Q2 2024, with constant currency revenue up 12.5% and organic constant currency revenue up 6.7% [4][6][9] - The company has raised its 2025 revenue and non-GAAP earnings per share guidance due to stronger-than-expected financial performance in the first half of the year [5][11] - Non-GAAP EPS for Q2 2025 was $1.01, a 9.8% increase year-over-year, while GAAP EPS decreased by 11.6% to $0.54 [6][9] Financial Performance - For the first six months of 2025, Merit generated free cash flow of $89.1 million, an increase of 8.1% year-over-year [6] - The GAAP operating margin for Q2 2025 was 12.3%, down from 13.6% in the prior year, while the non-GAAP operating margin improved to 21.2% from 20.1% [6][8] - The company’s GAAP net income for Q2 2025 was $32.6 million, compared to $35.7 million in Q2 2024, while non-GAAP net income rose to $61.0 million from $53.8 million [9] Segment Performance - Revenue from the Cardiovascular segment for Q2 2025 was $258.1 million, with a 10.4% increase in constant currency terms [7] - The Endoscopy segment saw significant growth, with revenue reaching $18.4 million, an 80.8% increase in constant currency [7] Guidance and Outlook - The updated guidance for 2025 anticipates net sales between $1.495 billion and $1.507 billion, representing a year-over-year growth of 10% to 11% [11] - Non-GAAP EPS guidance for 2025 is projected to be between $3.52 and $3.72, reflecting a 2% to 8% increase [11] Balance Sheet Highlights - As of June 30, 2025, Merit had cash and cash equivalents of $341.8 million and total debt obligations of $747.5 million, with available borrowing capacity of approximately $697 million [10]