Business
Merit Medical Reports Results For Quarter Ended September 30, 2021
Q3 2021 reported revenue of $267.0 million, up 9.4% compared to Q3 2020Q3 2021 constant currency revenue, organic* up 8.8% compared to Q3 2020Q3 2021 GAAP EPS
About this update from Merit Medical Systems, Inc.
[{"type":"text","content":"Q3 2021 reported revenue of $267.0 million, up 9.4% compared to Q3 2020Q3 2021 constant currency revenue, organic* up 8.8% compared to Q3 2020Q3 2021 GAAP EPS of $0.21, compared to GAAP loss per share of ($0.05) in Q3 2020Q3 2021 non-GAAP EPS* of $0.52, compared to $0.42 in Q3 2020 * Constant currency revenue; constant currency revenue, organic; core revenue; non-GAAP EPS; non-GAAP net income; non-GAAP operating income and margin; non-GAAP gross 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, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading manufacturer and marketer of proprietary medical devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care and endoscopy, today announced revenue of $267.0 million for the quarter ended September 30, 2021, an increase of 9.4% compared to the quarter ended September 30, 2020. Constant currency revenue, organic* for the third quarter of 2021 was up 8.8% compared to the prior year period. Merit’s GAAP gross margin for the third quarter of 2021 was 45.1%, compared to GAAP gross margin of 41.8% for the prior year period. Merit’s non-GAAP gross margin* for the third quarter of 2021 was 49.1%, compared to non-GAAP gross margin* of 47.0% for the prior year period. Merit’s GAAP net income for the third quarter of 2021 was $12.0 million, or $0.21 per share, compared to a GAAP net loss of ($3.0) million, or ($0.05) per share, for the third quarter of 2020. Merit’s non-GAAP net income* for the third quarter of 2021 was $30.2 million, or $0.52 per share, compared to non-GAAP net income* of $24.0 million, or $0.42 per share, for the prior year period. Merit’s revenue by operating segment and product category for the three and nine-month periods ended September 30, 2021, compared to the corresponding periods in 2020, was as follows (unaudited; in thousands, except for percentages): Three Months Ended Nine Months Ended September 30, September 30, % Change 2021 2020 % Change 2021 2020Cardiovascular Peripheral Intervention 16.5% $101,059 $86,778 21.5% $299,573 $246,488Cardiac Intervention 15.5% 79,8...