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Merit Medical Systems Inc (NASDAQ: MMSI) is a leading manufacturer of medical devices used in diagnostic and interventional cardiology, radiology, and endoscopy procedures. Headquartered in South Jordan, Utah, the company employs approximately 7,000 individuals globally. Merit Medical's extensive product portfolio includes inflation devices for angioplasty and stent placement, diagnostic and therapeutic catheters, guide wires, thrombolytic catheters, fluid dispensing systems, angiography accessories, and custom angiography kits. The company's products are marketed across the United States, Europe, and around the world through direct sales forces and distributors.
Merit Medical operates primarily in two segments: Cardiovascular, which constitutes the majority of its revenue, and Endoscopy. The company is renowned for its innovative healthcare technology, with recent notable achievements including FDA 510(k) clearance for their SCOUT® MD™ Surgical Guidance System, designed to enhance the precision of tumor excision in breast cancer surgeries.
In 2024, Merit Medical commenced the MOTION study, a multicenter, prospective, randomized, controlled trial comparing genicular artery embolization (GAE) using Embosphere® Microspheres to corticosteroid injections for treating knee osteoarthritis. This study underscores the company's commitment to evidence-based medicine and patient-centric care. Additionally, the company recently launched the Micro ACE Advanced Micro-Access System and the Siege Vascular Plug, which are expected to significantly improve patient outcomes in vascular procedures.
Financially, the company has introduced a Continued Growth Initiatives Program with robust targets set for 2026. Merit Medical has consistently focused on innovation, investment in research, and strategic expansion, making it a pivotal player in the medical technology sector.
For the latest updates and detailed financial data, Merit Medical Systems regularly schedules earnings calls and provides comprehensive reports which can be accessed by interested stakeholders.
Merit Medical Systems (MMSI) reported Q1 2023 revenue of $297.6 million, marking an 8.0% increase from Q1 2022. Constant currency revenue grew 9.8% year-over-year, driven by performance in U.S. and international markets. The GAAP operating margin improved to 8.9% compared to 5.5% in Q1 2022, while non-GAAP operating margin rose to 16.1%. Q1 GAAP EPS was $0.36, up from $0.18 the previous year. CEO Fred Lampropoulos highlighted the strong start to FY 2023, updating financial guidance with projected revenue between $1.217 billion and $1.229 billion. Positive outlook includes expectations of 5%-6% growth in the cardiovascular segment and earnings per share of $1.71 to $1.79 by year-end. Cash and equivalents stood at $57.9 million, with total debt obligations of $197.8 million.
Merit Medical Systems, Inc. (NASDAQ: MMSI) has announced it will release its financial results for the quarter ended March 31, 2023, after the market closes on April 26, 2023. Following the release, the company will host an investor conference call at 5:00 p.m. Eastern Time the same day. Participants can pre-register for the call through a provided link, receiving confirmation with dial-in details. Additionally, a live webcast will be accessible via another link. Merit Medical, founded in 1987, is a prominent global manufacturer and marketer of healthcare technology, employing approximately 7,100 individuals worldwide, with operations in various countries, including the U.S., Europe, and Asia.
Merit Medical Systems has expanded its SwiftNINJA Steerable Microcatheter line with new low-profile 2.4F distal diameter options and longer lengths of 125 cm and 150 cm. The microcatheter provides a 180-degree articulation designed for easier access to challenging vascular areas without a guide wire, potentially reducing procedure time and radiation exposure. The SwiftNINJA stands out as the only widely available steerable microcatheter in the U.S., allowing greater versatility in complex procedures. Founded in 1987, Merit develops and markets devices used in various medical fields, employing over 7,100 individuals globally.
Merit Medical Systems (NASDAQ: MMSI) reported Q4 2022 revenue of $293.4 million, a 5.4% increase from Q4 2021. Constant currency organic revenue rose 8.2%. The GAAP operating margin improved to 10.4% from 7.9%, while non-GAAP operating margin increased to 17.8%. GAAP EPS was $0.58, up from $0.36, and non-GAAP EPS reached $0.79, compared to $0.71. The company anticipates 2023 revenue of $1.194-$1.210 billion, projecting a 4%-5% growth year-on-year. Merit ended 2022 with $58.4 million in cash and cash equivalents and $198.2 million in total debt.
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