--- title: "Merit Medical | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 418.84 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294411553.md" datetime: "2026-07-30T20:29:36.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294411553.md) - [en](https://longbridge.com/en/news/294411553.md) - [zh-HK](https://longbridge.com/zh-HK/news/294411553.md) --- # Merit Medical | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 418.84 M Revenue: As of FY2026 Q2, the actual value is USD 418.84 M, beating the estimate of USD 405.35 M. EPS: As of FY2026 Q2, the actual value is USD 0.65, beating the estimate of USD 0.6083. EBIT: As of FY2026 Q2, the actual value is USD 68.77 M. ### Operational Metrics #### Gross Margin Merit Medical Systems, Inc.’s GAAP Gross Margin for Q2 2026 was 51.4%, compared to 48.2% in Q2 2025, representing a 6.5% year-over-year change. For the year-to-date (YTD) 2026, GAAP Gross Margin was 50.0%, up from 48.3% in YTD 2025, a 3.4% year-over-year change. The Non-GAAP Gross Margin was 55.8% for Q2 2026, an increase from 53.2% in Q2 2025, showing a 4.9% year-over-year change. YTD 2026 Non-GAAP Gross Margin was 54.6%, compared to 53.3% in YTD 2025, a 2.4% year-over-year change. #### Operating Margin GAAP Operating Margin for Q2 2026 was 14.4%, up from 12.3% in the prior year period, a 17.7% year-over-year increase. For YTD 2026, GAAP Operating Margin was 13.1%, compared to 11.9% in YTD 2025, a 9.6% year-over-year change. Non-GAAP Operating Margin was 22.6% for Q2 2026, compared to 21.2% in the prior year period, a 6.7% year-over-year change. YTD 2026 Non-GAAP Operating Margin was 21.2%, up from 20.2% in YTD 2025, a 4.8% year-over-year change. #### Income from Operations Income from Operations for the three months ended June 30, 2026, was $60,403 thousand, an increase from $46,880 thousand for the same period in 2025. For the six months ended June 30, 2026, income from operations reached $104,560 thousand, up from $87,913 thousand in 2025. #### Total Operating Expenses Total Operating Expenses were $154,763 thousand for the three months ended June 30, 2026, compared to $137,607 thousand in 2025. For the six months ended June 30, 2026, total operating expenses were $295,403 thousand, compared to $268,594 thousand in 2025. #### Net Income GAAP Net Income for Q2 2026 was $38.8 million, an increase from $32.6 million in Q2 2025, representing a 19.1% year-over-year change. For YTD 2026, GAAP Net Income was $79.8 million, up from $62.7 million in YTD 2025, a 27.2% year-over-year change. Non-GAAP Net Income was $71.3 million for Q2 2026, compared to $61.0 million in Q2 2025, a 16.9% year-over-year change. YTD 2026 Non-GAAP Net Income was $127.9 million, up from $113.9 million in YTD 2025, a 12.3% year-over-year change. #### Depreciation & Amortization Depreciation & Amortization was $31.0 million for Q2 2026 and $31.0 million for Q2 2025. For YTD 2026, it was $61.5 million, compared to $60.3 million in YTD 2025. #### Stock Compensation Performance-Based Stock Compensation was $6.6 million for Q2 2026, up from $5.9 million in Q2 2025. For YTD 2026, it was $12.4 million, compared to $10.7 million in YTD 2025. Non-Performance-Based Stock Compensation was $6.3 million for Q2 2026, up from $5.0 million in Q2 2025. For YTD 2026, it was $9.5 million, compared to $9.3 million in YTD 2025. #### Capital Expenditures - Property and Equipment Capital Expenditures for Property and Equipment were $17.3 million for Q2 2026, compared to $13.8 million in Q2 2025. For YTD 2026, these expenditures were $33.3 million, compared to $34.8 million in YTD 2025. ### Cash Flow Cash Flow from Operations year-to-date (six months ended June 30, 2026) was $109,957 thousand, down 11% from $123,879 thousand in the prior year period. Free Cash Flow year-to-date (six months ended June 30, 2026) was $76,617 thousand, a 14% decrease from $89,067 thousand in the prior year period. For Q2 2026, Operating Cash Flow was $69.3 million, compared to $83.3 million in Q2 2025. YTD 2026 Operating Cash Flow was $110.0 million, compared to $123.9 million in YTD 2025. Free Cash Flow for the six months ended June 30, 2026, was $76.6 million, compared to $89.1 million for the same period in 2025. Net cash, cash equivalents, and restricted cash used in investing activities was -$102,399 thousand for the six months ended June 30, 2026, compared to -$172,986 thousand for the same period in 2025. Net cash, cash equivalents, and restricted cash provided by financing activities was -$5,341 thousand for the six months ended June 30, 2026, compared to $11,302 thousand for the same period in 2025. ### Balance Sheet Highlights As of June 30, 2026, Cash and Cash Equivalents totaled $448,699 thousand, an increase from $446,404 thousand as of December 31, 2025. Total Debt Obligations remained unchanged at $747,500 thousand as of June 30, 2026, compared to December 31, 2025. The company had approximately $697 million in Available Borrowing Capacity as of June 30, 2026. ### Segment Revenue (Three Months Ended June 30, 2026) Merit Medical Systems, Inc. reported Total Reported Revenue of $418,843 thousand, a 10% increase from the prior year period, with Total Constant Currency Revenue at $415,856 thousand, up 9%. Foundational Revenue was $280,961 thousand (7% reported increase) and $279,425 thousand (6% constant currency increase). Within Foundational, Access revenue was $161,786 thousand (6% reported increase), OEM revenue was $48,338 thousand (12% reported increase), Procedural Solutions revenue was $27,949 thousand (-12% reported decrease), and Vascular Intervention revenue was $41,652 thousand (19% reported increase). Therapeutic Revenue was $137,882 thousand (15% reported increase) and $136,431 thousand (14% constant currency increase). Within Therapeutic, Cardiac Therapies revenue was $28,510 thousand (24% reported increase), Endoscopy revenue was $23,647 thousand (29% reported increase), OEM revenue was $12,797 thousand (31% reported increase), Oncology revenue was $25,774 thousand (8% reported increase), Renal Therapies revenue was $12,713 thousand (-1% reported decrease), and Vascular Intervention revenue was $34,441 thousand (7% reported increase). ### Segment Revenue (Six Months Ended June 30, 2026) Total Reported Revenue for the six months ended June 30, 2026, was $800,720 thousand, a 9% increase from the prior year period, with Total Constant Currency Revenue at $789,797 thousand, up 7%. Foundational Revenue was $536,440 thousand (7% reported increase) and $529,915 thousand (5% constant currency increase). Within Foundational, Access revenue was $312,910 thousand (9% reported increase), OEM revenue was $87,878 thousand (1% reported increase), Procedural Solutions revenue was $54,437 thousand (-10% reported decrease), and Vascular Intervention revenue was $80,690 thousand (19% reported increase). Therapeutic Revenue was $264,280 thousand (12% reported increase) and $259,882 thousand (11% constant currency increase). Within Therapeutic, Cardiac Therapies revenue was $55,914 thousand (29% reported increase), Endoscopy revenue was $45,339 thousand (30% reported increase), OEM revenue was $20,276 thousand (-3% reported decrease), Oncology revenue was $49,282 thousand (7% reported increase), Renal Therapies revenue was $24,225 thousand (-8% reported decrease), and Vascular Intervention revenue was $69,244 thousand (9% reported increase). ### Outlook / Guidance (Fiscal Year 2026) Merit Medical Systems, Inc. increased its full-year 2026 guidance for revenue and non-GAAP earnings per share, reflecting stronger first-half results. The company now anticipates total revenue between $1.631 billion and $1.643 billion, representing an 8% year-over-year increase. Non-GAAP earnings per share are projected to be between $4.25 and $4.35, indicating an 11% to 14% year-over-year increase. ### Related Stocks - [MMSI.US](https://longbridge.com/en/quote/MMSI.US.md) ## Related News & Research - [Merit Medical COO Neil W. Peterson sells 21,449 common shares for $1.82 million](https://longbridge.com/en/news/294996709.md) - [Merit Medical to Participate in Upcoming Investors Conferences in August | MMSI Stock News](https://longbridge.com/en/news/294991639.md) - [Merit Medical Chief Operating Officer Sold Shares Worth Over $1.8M](https://longbridge.com/en/news/294997208.md) - [Merit Medical Systems (NASDAQ:MMSI) Announces Quarterly Earnings Results, Beats Expectations By $0.23 EPS](https://longbridge.com/en/news/294567299.md) - [Merit Medical Q2 adjusted EPS beats estimates, raises 2026 outlook](https://longbridge.com/en/news/294411710.md)