Merit Medical Systems, Inc. · NASDAQ:MMSI
Merit Medical Systems — J.P. Morgan Healthcare Conference 2026
20 slides from Merit Medical Systems's conference presentation, Jan 13, 2026
Slide 1: Investor Presentation – J.P. Morgan Healthcare Conference
Investor Presentation J.P. Morgan Healthcare Conference January 13, 2026 STRICTLY PRIVATE AND CONFIDENTIAL | 1
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward- looking statements include, among
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures Although Merit’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), Merit’s management believes that the non-GAAP financial measures referenced in this presentation may provide investors
Slide 4: Presenting Today
Presenting Today Martha Aronson President and Chief Executive Officer • Appointed President and Chief Executive Officer of Merit Medical Systems, Inc., in October 2025 Raul Parra Chief Financial Officer • Appointed Merit’s Chief Financial Officer and Treasurer in July 2018 • Started at Merit Systems
Slide 5: Merit Medical Systems at a Glance
Merit Medical Systems at a Glance Founded in 1987 | Headquartered in South Jordan, Utah | Initial Public Offering on NASDAQ in 1990 Scaled & Positioned for Continued Growth Awards & Recognition $1,514M 2025E Revenue (* Range 1,511-1517) 2025E Constant Currency ~11.2% Revenue Growth ~7,500 Employees
Slide 6: Product Mix | Foundational and Therapeutic
Product Mix | Foundational and Therapeutic Merit 2025e* Revenue 68% 32% Therapeutic Products Foundational Products Portfolios of therapeutic products and/or Enabling products that provide the foundation for multiple vascular procedures. $1.5B devices used together to treat specific clinical needs, i
Slide 7: Therapeutic Portfolios | Positioned for Growth
Therapeutic Portfolios | Positioned for Growth VASCULAR & CARDIAC THERAPIES RENAL THERAPIES INTERVENTIONAL VASCULAR Solutions that enable EP and Dialysis innovations Market-leading microsphere structural heart procedures (WRAPSODY®, HeRO, (Embosphere®) with extensive Surfacer®) supported by full emb
Slide 8: Cardiac Therapies
Cardiac Therapies PROCEDURES Key Products Pacemaker lead implantation ▪ Worley ▪ Ventrax® ▪ Evolution® ▪ Snap ▪ SOLO PACE Pacemaker lead extraction ▪ HeartSpan® ▪ Tempo® Ventricular tachycardia ablation Transcatheter aortic valve replacement PRODUCT CATEGORIES Electrophysiology Structural heart Extr
Slide 9: Vascular & Interventional
Vascular & Interventional PROCEDURES Key Products Prostate artery embolization (PAE) ▪ Aspira® ▪ Achieve® ▪ Embosphere ▪ TEMNO Elite Uterine fibroid embolization (UFE) ▪ SwiftNINJA® ▪ BioSentry® Genicular artery embolization (GAE) Transarterial Chemoembolization (TACE) PRODUCT CATEGORIES Drainage Em
Slide 10: Endoscopy Oncology
Endoscopy Oncology PROCEDURES PROCEDURES Esophageal dilation and stenting Tumor localization Tracheal dilation and stenting Brachytherapy Transoral incisionless fundoplication (TIF/cTIF) PRODUCT CATEGORIES PRODUCT CATEGORIES Gastroenterology Localization Gastroesophageal reflux disease (GERD) Brachy
Slide 11: Renal Therapies
Renal Therapies PROCEDURES Key Products Dialysis catheter placement ▪ HeRO® ▪ BioFlo ▪ Surfacer® ▪ WRAPSODY® Dialysis fistula maintenance PRODUCT CATEGORIES Dialysis access Hemodialysis catheters WRAPSODY PRIMARY CALL POINTS Vascular surgery Interventional radiology Interventional nephrology *Q4'25e
Slide 12: Wrapsody Cell-Impermeable Endoprosthesis
Wrapsody Cell-Impermeable Endoprosthesis Superior Performance Patient Need: Dialysis patients typically rely AVF 12-Month AVF 24-Month Target Lesion Primary Patency1 Target Lesion Primary Patency1 on vascular access via AV fistulas (AVF) or grafts (AVG). Over time, these sites can WRAPSODY® WRAPSODY
Slide 13: Global Reach | Commercial, Distribution, and R&D
Global Reach | Commercial, Distribution, and R&D STRICTLY PRIVATE AND CONFIDENTIAL | 13
Slide 14: Global Reach | Revenue Channels
Global Reach | Revenue Channels Direct to Hospital Direct to Hospital Developed Developed Distribution Distribution Network Network Modified Direct Modified Direct OEM OEM STRICTLY PRIVATE AND CONFIDENTIAL | 14
Slide 15: Strong Track Record of Growth
Strong Track Record of Growth Consistent organic growth fueled by product innovation and commercial execution + successful tuck-in acquisitions Total Revenue $M $1,514 11% CAGR '25e / '16 $1,357 $1,257 $1,150 $1,075 $995 $964 $883 $728 $604 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025e *Q4'25e*
Slide 16: Material Improvement in Profitability and Cash Flow Profile
Material Improvement in Profitability and Cash Flow Profile Non-GAAP Operating Margin "Foundations for Growth" "Continued Growth Initiatives" CGI Target "Foundations for Growth" "Continued Growth 20.00 – 22.00% Growth Initiatives" Initiatives" "Continued 20-22% by 20.00 –20.00% 22.00% 19.00% end-202
Slide 17: 2025 Preliminary Revenue Results
2025 Preliminary Revenue Results Reflects Strong Results in Year 2 of 3-yr CGI Program Preliminary Guidance as of Continued Growth Initiatives Program Revenue* Oct 30, 2025 3-Yr. Financial Targets Organic Constant Currency $389m to $395m $380m - $393m Revenue Growth CAGR 5% - 7% Q4'25e* up 10% - 11%
Slide 18: Moving from Founder-Led to Founder-Inspired
Founder Led => Founder Inspired • Company grounded in Mission: Understand. Innovate. Deliver Moving from • Guided by the Merit Merit Way: H.E.A.R.T. (Health – Excellence – Agility – Responsibility – Teamwork) Founder-Led to 2025 Listening Tour: Founder-Inspired • Visited global sites Recent Progress
Slide 19: Key Investment Highlights
Key Investment Highlights Merit Represents a Compelling Investment Opportunity Leading medical product solutions provider across multiple target end markets Robust R&D engine driving substantial product innovation Increasing mix of higher-growth, higher-value therapeutic products Global manufacturin
Slide 20: J.P. Morgan Healthcare Conference
Investor Presentation J.P. Morgan Healthcare Conference January 13, 2026 STRICTLY PRIVATE AND CONFIDENTIAL | 20
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