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Dec 31, 2021
Merit Medical Q4 2021 Earnings Report
Merit Medical reported Q4 2021 earnings with revenue up 7.9% and GAAP EPS increasing 32% year-over-year.
Key Takeaways
Merit Medical Systems, Inc. reported revenue of $278.5 million for Q4 2021, a 7.9% increase compared to Q4 2020. GAAP EPS increased 32% year-over-year to $0.36, and non-GAAP EPS increased 31% to $0.71. The company's performance exceeded the high end of its revenue and non-GAAP EPS guidance ranges.
Q4 2021 revenue reached $278.5 million, up 7.9% reported and 8.4% on a constant currency, organic basis.
GAAP EPS for Q4 2021 increased 32% year-over-year to $0.36.
Non-GAAP EPS for Q4 2021 increased 31% year-over-year to $0.71.
FY21 revenue was $1.075 billion, up 11.5% reported and 10.4% on a constant currency, organic basis.
Merit Medical
Merit Medical
Forward Guidance
Merit Medical provided financial guidance for the year ending December 31, 2022, projecting net revenue in the range of $1.117 billion to $1.140 billion and GAAP net income between $75.4 million and $84.0 million.
Positive Outlook
- Net revenue in the range of $1.117 billion to $1.140 billion, representing an increase of approximately 4% to 6% year over year, as compared to net revenue of $1.075 billion for the twelve months ended December 31, 2021.
- Net revenue from the cardiovascular segment of between $1.083 billion and $1.106 billion, representing an increase of approximately 4% to 6% year-over-year as compared to net revenue of $1.043 billion for the twelve months ended December 31, 2021.
- Net revenue from the endoscopy segment of between $33.5 million and $34.1 million, representing an increase of approximately 6% to 8% year-over-year as compared to net revenue of $31.5 million for the twelve months ended December 31, 2021.
- GAAP net income in the range of $75.4 million to $84.0 million, or $1.30 to $1.45 per diluted share, compared to GAAP net income of $48.5 million, or $0.84 per diluted share, for the twelve months ended December 31, 2021.
- Non-GAAP net income in the range of $140.0 million to $148.7 million, or $2.41 to $2.56 per diluted share, compared to non-GAAP net income of $136.2 million, or $2.37 per diluted share, for the twelve months ended December 31, 2021.