Merit Medical(MMSI) - 2023 Q3 - Earnings Call Presentation

Financial Performance - Q3 2023 - Revenue reached $31523 million, a 98% increase compared to $287175 million in Q3 2022[3, 73] - GAAP gross margin increased to 451% from 448% year-over-year, while non-GAAP gross margin increased to 498% from 484%[47, 73] - GAAP operating margin significantly increased to 111% from 65%, and non-GAAP operating margin increased to 183% from 161%[32, 73] - GAAP net income increased to $258 million from $153 million, and non-GAAP net income increased to $435 million from $370 million[28, 73] - GAAP earnings per share increased to $044 from $027, and non-GAAP earnings per share increased to $075 from $064[28, 73] Financial Performance - Year-to-Date (YTD) 2023 - Revenue reached $932851 million, an 88% increase compared to $857566 million in YTD 2022[32, 73] - GAAP gross margin increased to 465% from 448% year-over-year, while non-GAAP gross margin increased to 504% from 485%[47, 73] - GAAP operating margin significantly increased to 97% from 67%, and non-GAAP operating margin increased to 181% from 167%[32, 73] - GAAP net income increased to $668 million from $411 million, and non-GAAP net income increased to $1287 million from $1097 million[37, 73] - GAAP earnings per share increased to $114 from $071, and non-GAAP earnings per share increased to $221 from $191[37, 73] Revenue Breakdown by Region - Q3 2023 - US revenue reached $187505 million, a 139% increase from $164571 million in Q3 2022[3] - APAC revenue reached $59831 million, a -06% decrease from $60175 million in Q3 2022[3] - EMEA revenue reached $55206 million, a 60% increase from $52060 million in Q3 2022[3] - Rest of World revenue reached $12688 million, a 224% increase from $10369 million in Q3 2022[3] Updated 2023 Financial Guidance - Net sales are projected to be $1242 - $1251 billion, an 8%-9% increase year-over-year[51] - Cardiovascular segment sales are projected to be $1205 - $1214 billion, an 8%-9% increase year-over-year[51] - Endoscopy segment sales are projected to be $369 - $370 million, a 13% increase year-over-year[51]