Merit Medical Systems (NASDAQ:MMSI) Reports Third Quarter 2024 Results and Provides Updated Financial Guidance

by · The Markets Daily

Merit Medical Systems, Inc. recently disclosed its operating and financial outcomes for the quarter concluding on September 30, 2024. The company announced that it had issued a press release on October 30, 2024, to reveal these results. Furthermore, Merit Medical Systems Inc. would be conducting a conference call on the same day to delve into its financial standings for the quarter ended in September 2024. The conference call would also include a live webcast and slide presentation, accessible on the company’s website.

During this quarter, Merit Medical Systems reported a revenue of $339.8 million, reflecting a 7.8% increase from the previous quarter. The gross margin was recorded at 46.4%, up from 45.1% in the corresponding period. Operating margin slightly decreased from 11.1% to 11.0%. Net income surged to $28.4 million, marking a 10.1% increase from the previous quarter. Earnings per share also rose to $0.48, up from $0.44 in the same period last year.

The company also updated its 2024 financial guidance, mentioning that it doesn’t provide guidance for GAAP reported financial measures due to uncertainties related to expenses like acquisitions or other extraordinary transactions, non-cash expenses, certain severance expenses, and regulatory changes. Merit Medical Systems emphasized the importance of non-GAAP financial information to assess underlying business trends and performance.

Merit Medical Systems addressed non-GAAP financial data in both its press release and conference call presentation, discussing varied items that may impact the net income. These non-GAAP results reflect certain adjustments, including expenses tied to acquisitions, stock-based compensation, restructuring activities, and regulatory compliance costs.

The company’s financial statements, while conforming to accounting principles generally accepted in the United States, occasionally require supplemental non-GAAP financial measures. The management believes these figures help investors gauge the company’s performance accurately and compare results across periods.

Merit Medical Systems continues to navigate uncertainties in acquisition-related expenditures, non-cash expenses, and regulatory transformations, urging investors to consider the non-GAAP financial data alongside GAAP measures for a comprehensive evaluation of their operations.

This transcript summarizes Merit Medical Systems’ recent financial performance and its updated guidance, providing insights into the company’s strategic financial outlook and operational achievements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Merit Medical Systems’s 8K filing here.

About Merit Medical Systems

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Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.

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