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Merit Medical Systems MMSI Q1 2025 Annual earnings

Reported April 24, 2025 · After market close

Revenue$355.4MBeat by $2.8M
EPS$0.86Beat by $0.11
Revenue estimate$352.5M
EPS estimate$0.75

Next report

Jul 30, 2026 (Today)
Revenue estimate$405.2M
EPS estimate$0.96

Financials

Q1 2025

Income statement

See full
Revenue$355.4M+9.8%
Gross profit$172.0M+13.4%
Operating income$41.0M+14.2%
Net income$30.1M+6.8%
EPS (diluted)$0.49+2.1%

Balance sheet

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Cash & equivalents$395.5M-32.0%
Total debt$817.7M-6.3%
Total equity$1.4B+15.2%
Total assets$2.5B+6.1%

Cash flow

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Operating cash flow$40.6M+12.0%
CapEx$21.1M+80.3%
Free cash flow$19.5M-20.5%

Valuation & ratios

Valuation

as of 03/31/25
See full
Market cap$6.22B+41.7%
Enterprise value$6.64B+41.9%
P/E50.9×+7.8×
P/S4.5×+1.1×

Profitability

See full
Gross margin47.8%+1.3pp
Operating margin11.6%+1.2pp
Net margin8.8%+0.9pp
FCF margin13%+2.6pp

Returns & leverage

See full
Return on equity9.2%+0.7pp
Debt / equity0.6×-0.1×
Current ratio4.9×-1.2×

Versus estimates

Revenue

Q1 2026$381.9MBeat by $4.3MQ4 2025$393.9MBeat by $4.0MQ3 2025$384.2MMiss by $4.1MQ2 2025$382.5MBeat by $11.0M
Q1 2025$355.4MBeat by $2.8M
Q4 2024$355.2MBeat by $3.6M

Diluted EPS

Q1 2026$0.94Beat by $0.10Q4 2025$1.04Beat by $0.08Q3 2025$0.92Beat by $0.10Q2 2025$1.01Beat by $0.15
Q1 2025$0.86Beat by $0.11
Q4 2024$0.93Beat by $0.11

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Questions, answered.

When did Merit Medical Systems report Q1 2025 earnings?
Merit Medical Systems (MMSI) reported Q1 2025 earnings on April 24, 2025 after market close.
What were Merit Medical Systems's Q1 2025 revenue and EPS?
Merit Medical Systems reported revenue of $355.4M and eps of $0.86 for Q1 2025.
Did Merit Medical Systems beat estimates in Q1 2025?
Revenue beat the consensus estimate of $352.5M by $2.8M. EPS beat the consensus estimate of $0.75 by $0.11.
How did Merit Medical Systems's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 9.8% from $323.5M a year earlier and eps grew 11.7% from $0.77.
Where can I find Merit Medical Systems's Q1 2025 SEC filings?
You can read the 10-K/A periodic report (0000856982-25-000021) directly on SEC EDGAR. The filing index links above go to sec.gov.