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Jun 30, 2023
Merit Medical Q2 2023 Earnings Report
Reported revenue increased, driven by constant currency organic growth and improved profitability.
Key Takeaways
Merit Medical reported an 8.5% increase in revenue to $320.1 million for Q2 2023, with constant currency organic revenue growth of 9.1%. The company also saw improvements in profitability, with non-GAAP gross and operating margins of 51.4% and 19.9%, respectively. GAAP EPS was $0.35 and non-GAAP EPS was $0.81.
Reported revenue increased by 8.5% year-over-year to $320.1 million.
Constant currency revenue, organic, increased by 9.1% year-over-year.
GAAP operating margin was 9.0%, compared to 7.9% in Q2 2022.
Non-GAAP operating margin was 19.9%, compared to 19.1% in Q2 2022.
Forward Guidance
Merit Medical updated its financial guidance for the year ending December 31, 2023, expecting net sales between $1.230 billion and $1.244 billion. The guidance assumes organic revenue in the range of $1.217 billion to $1.229 billion.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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