Business
Merit Medical Reports Results For Second Quarter June 30, 2023
Q2 2023 reported revenue of $320.1 million, up 8.5% year-over-yearQ2 2023 constant currency revenue* up 9.4% year over yearQ2 2023 constant currency revenue,
About this update from Merit Medical Systems, Inc.
[{"type":"text","content":"Q2 2023 reported revenue of $320.1 million, up 8.5% year-over-yearQ2 2023 constant currency revenue* up 9.4% year over yearQ2 2023 constant currency revenue, organic* up 9.1% year-over-yearQ2 2023 GAAP operating margin of 9.0%, compared to 7.9% in Q2 2022Q2 2023 non-GAAP operating margin* of 19.9%, compared to 19.1% in Q2 2022Q2 2023 GAAP EPS $0.35, compared to $0.27 in Q2 2022Q2 2023 non-GAAP EPS* of $0.81, compared to $0.73 in Q2 2022 * 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, July 25, 2023 (GLOBE NEWSWIRE) -- Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading global manufacturer and marketer of healthcare technology, today announced revenue of $320.1 million for the quarter ended June 30, 2023, an increase of 8.5% compared to the quarter ended June 30, 2022. Constant currency revenue, organic, for the second quarter of 2023 increased 9.1% compared to the prior year period. Merit’s revenue by operating segment and product category for the three and six-month periods ended June 30, 2023 and 2022 was as follows (unaudited; in thousands, except for percentages): Three Months Ended Reported Constant Currency * June 30, Impact of foreign June 30, 2023 2022 % Change exchange 2023 % ChangeCardiovascular Peripheral Intervention $125,909 $110,955 13.5% $1,059 $126,968 14.4% Cardiac Intervention 93,775 89,574 4.7% 1,193 94,968 6.0% Custom Procedural Solutions 49,384 49,093 0.6% 365 49,749 1.3% OEM 42,207 37,048 13.9% (81) 42,126 13.7% Total 311,275 286,670 8.6% 2,536 313,811 9.5% Endoscopy Endoscopy Devices 8,781 8,306 5.7% 22 8,803 6.0% Total $320,056 $294,976 8.5% $2,558 $322,614 9.4% Six Months Ended Reported Constant Currency * June 30, Impact of foreign June 30, 2023 2022 % Change exchange 2023 % ChangeCardiovascular Peripheral Intervention $239,692 $216,728 10.6% $2,682 $242,374 11.8%Cardiac Intervention 179,103 171,061 4.7% 3,012 182,115 6.5%Custom Procedural Solutions 97,085 95,355 1.8% 1,608 98,693 3.5%OEM 83,371 70,462 18.3% 60 83,431 18.4%Total 599,251 553,60...