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Sep 30, 2021
Merit Medical Q3 2021 Earnings Report
Merit Medical's Q3 2021 results reflected revenue growth and improved profitability.
Key Takeaways
Merit Medical reported a revenue of $267.0 million for Q3 2021, a 9.4% increase compared to Q3 2020. GAAP EPS was $0.21, up from a loss of ($0.05) per share in the prior year, while non-GAAP EPS was $0.52, compared to $0.42 in Q3 2020. The company reaffirmed its full-year revenue and earnings guidance.
Q3 2021 revenue reached $267.0 million, a 9.4% increase year-over-year.
Constant currency revenue, organic, rose by 8.8% compared to Q3 2020.
GAAP EPS was $0.21, a significant improvement from the GAAP loss per share of ($0.05) in Q3 2020.
Non-GAAP EPS was $0.52, compared to $0.42 in the same quarter last year.
Merit Medical
Merit Medical
Forward Guidance
Merit Medical reaffirmed net revenue and non-GAAP net income and earnings per share expectations and updating GAAP net income and earnings per share expectations for the year ending December 31, 2021.
Positive Outlook
- Net Sales: $1,060 - $1,070 million
- GAAP Net Income: $38.1 - $46.4 million
- GAAP Earnings Per Share: $0.66 - $0.81
- Non-GAAP Net Income: $118.8 - $127.1 million
- Non-GAAP Earnings Per Share: $2.07 - $2.22