Business
Merit Medical Reports Results for Fourth Quarter and Year Ended December 31, 2022 Issues Fiscal Year 2023 Guidance
Q4 2022 reported revenue of $293.4 million, up 5.4% compared to Q4 2021Q4 2022 constant currency revenue, organic* up 8.2% compared to Q4 2021Q4 2022 GAAP
About this update from Merit Medical Systems, Inc.
[{"type":"text","content":"Q4 2022 reported revenue of $293.4 million, up 5.4% compared to Q4 2021Q4 2022 constant currency revenue, organic* up 8.2% compared to Q4 2021Q4 2022 GAAP operating margin of 10.4%, compared to 7.9% in Q4 2021Q4 2022 non-GAAP operating margin* of 17.8%, compared to 17.4% in Q4 2021Q4 2022 GAAP EPS $0.58, compared to $0.36 in Q4 2021Q4 2022 non-GAAP EPS* of $0.79, compared to $0.71 in Q4 2021 * Constant currency revenue; constant currency revenue, organic; non-GAAP EPS; non-GAAP net income; non-GAAP operating income and margin; non-GAAP gross profit and margin; and free cash flow are non-GAAP financial measures. A reconciliation of these financial measures to their most directly comparable GAAP financial measures is included under the heading “Non-GAAP Financial Measures” below. SOUTH JORDAN, Utah, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading global manufacturer and marketer of healthcare technology, today announced revenue of $293.4 million for the quarter ended December 31, 2022, an increase of 5.4% compared to the quarter ended December 31, 2021. Constant currency revenue, organic, for the fourth quarter of 2022 increased 8.2% compared to the prior year period. Merit’s revenue by operating segment and product category for the three and twelve-month periods ended December 31, 2022 and 2021 was as follows (unaudited; in thousands, except for percentages): Three Months Ended Reported Constant Currency * December 31, Impact of foreign December 31, 2022 2021 % Change exchange 2022 % ChangeCardiovascular Peripheral Intervention $112,384 $105,543 6.5% $2,463 $114,847 8.8%Cardiac Intervention 85,277 80,438 6.0% 2,890 88,167 9.6%Custom Procedural Solutions 49,147 50,450 (2.6)% 2,328 51,475 2.0%OEM 38,861 33,794 15.0% 293 39,154 15.9%Total 285,669 270,225 5.7% 7,974 293,643 8.7% Endoscopy Endoscopy Devices 7,746 8,267 (6.3)% 69 7,815 (5.5)% Total $293,415 $278,492 5.4% $8,043 $301,458 8.2% Year Ended Reported Constant Currency * December 31, Impact of foreign December 31, 2022 2021 % Change exchange 2022 % ChangeCardiovascular Peripheral Intervention $439,810 $405,116 8.6% $6,476 $446,286 10.2%Cardiac Intervention 343,186 320,641 7.0% 8,235 351,421 9.6%Custom Procedural Solutions 190,194 193,942 (1.9)% 7,589 197,783 2.0%OEM 145,034 123,528 17.4% 1,240 146,274 18.4%Total 1,118,224 1,043,227 7.2%...