Thu, Aug 1, 8:53 PM (88 days ago)
For Q2 2024, Merit Medical Systems, Inc. reported a 5.6% year-over-year increase in sales to $338 million, driven by strong demand in the U.S. and favorable international sales trends. Net income rose to $35.7 million, or $0.61 per share, from $20.2 million, or $0.35 per share, in Q2 2023. The gross profit margin remained steady at 47.7%. Operating expenses decreased, particularly in SG&A, which fell by 6.3% due to lower consulting, acquisition-related expenses, and facility costs. R&D expenses were stable. Cash flow from operations significantly improved to $104.7 million from $31.8 million in H1 2023. The company maintained strong liquidity with $638.7 million in cash and equivalents. Future growth is supported by a strong balance sheet and ongoing strategic initiatives.