Q1 2026 Merit Medical Systems Inc Earnings Call Transcript

Apr 30, 2026 / 08:30PM GMT

Release Date Price: $68.18 (+5.15%)

Transcript 10-Q8-K

Key Points

Positve

Merit Medical Systems Inc (MMSI) reported a total revenue of $381.9 million for Q1 2026, marking a 7% year-over-year increase on a GAAP basis.
The company's non-GAAP operating margin increased by 47 basis points year-over-year to 19.7%, the highest first-quarter operating margin in its history.
Merit Medical Systems Inc (MMSI) achieved a 9% growth in non-GAAP EPS, exceeding the high end of expectations.
The acquisition of Viewpoint Medical is expected to expand the annual addressable procedure opportunity for the oncology business by approximately three times.
The introduction of the Resilience Through the Scope esophageal stent targets an attractive market opportunity in the United States, expected to contribute to growth in the endoscopy platform.

Negative

The OEM sales declined 14% year-over-year in Q1, significantly lower than expected, due to inventory destocking dynamics and macroeconomic impacts.
The acquisition of Viewpoint Medical is projected to be $0.05 dilutive to the 2026 non-GAAP EPS.
Merit Medical Systems Inc (MMSI) faces a 120-basis-point impact on gross margin due to tariffs, which affected Q1 results.
The company left about $1.5 million of revenue on the table due to shipping issues related to geopolitical tensions in the Middle East.
The company is experiencing challenges with the supply chain, which led to a recall in the cardiac business, although it is expected to be immaterial to 2026 financial results.

Operator

Please stand by. Welcome to the Merit Medical Systems first quarter 2026 earnings conference call. (Operator Instructions) Please note that this conference call is being recorded, and the recording will be available on the company's website for replay shortly.

I would now like to turn the call over to Martha AronsonMerritt Medical Systems President and Chief Executive Officer.

Martha Aronson

Merit Medical Systems Inc - President, Chief Executive Officer, Director

Thank you, operator, and welcome, everyone. I am joined on the call today by Raul Parra, our Chief Financial Officer and Treasurer, and Brian Lloyd, our Chief Legal Officer and Corporate Secretary. Brian, would you please take us through the safe harbor statements?

Brian Lloyd

Merit Medical Systems Inc - Chief Legal Officer, Corporate Secretary

Thank you, Martha. This presentation contains forward-looking statements that receive safe harbor protection under federal securities laws. Although we believe these forward-looking statements are based

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