Merit Medical Systems (MMSI) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Merit Medical published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Merit Medical reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Merit Medical sold its DualCap product line to Health Line on February 17, 2026, which lowered Procedural Solutions sales. Merit's organic growth figures exclude that divestiture.
• On October 13, 2026, after the quarter ended, Merit acquired the rest of Solo Pace, a maker of temporary pacing systems for TAVR procedures, for about $45 million.

Source: Merit Medical Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Merit Medical splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Merit Medical's Foundational revenue was $276 million in Q3 2026, up 6% from $261 million in Q3 2025, 66% of total revenue.
• Merit Medical's Therapeutic revenue was $141 million in Q3 2026, up 14% from $123 million in Q3 2025, 34% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Merit Medical said:

“We have raised our 2026 revenue and non-GAAP earnings per share guidance to reflect the stronger-than-expected results over the first nine months of 2026”

“Total Revenue $1.635-$1.642 billion”

“Merit does not provide guidance for GAAP reported financial measures (other than revenue)”

Source: Merit Medical Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the MMSI forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenue and diluted EPS, each as first reported in that quarter's release. Merit gave preliminary Q4 2025 revenue on January 8, 2026.

We do not hold a confirmed date for Merit Medical's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

Merit Medical makes medical devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care and endoscopy. It reports revenue in two groups: Foundational products, $275.7 million of $416.2 million in Q3 2026, and Therapeutic products, $140.5 million. Total revenue rose 8.4%, 8% in constant currency and 9% on an organic constant currency basis. (Merit Medical Form 10-K, 2025, Feb 24, 2026; Merit Medical Q3 2026 release, Oct 29, 2026)

Merit Medical's largest product category is Access, $157.9 million, up 4.2%, driven primarily by angiography and access products. Foundational Vascular Intervention rose $7.0 million, or 19.7%, on drainage and biopsy products. Procedural Solutions fell $5.1 million, or 15.9%, because of the sale of the DualCap product line to Health Line. (Merit Medical Form 10-Q, Q3 2026, Oct 29, 2026; Merit Medical Q3 2026 release, Oct 29, 2026)

Therapeutic revenue grew 14.0%. Endoscopy rose 32.9% to $23.4 million, mainly from the C2 Cryoballoon acquired from Pentax and the Resilience esophageal stent; Therapeutic OEM rose 31.5%, mostly ablation products; and Oncology rose 16.4% to $27.1 million. Renal Therapies fell 1.9%. (Merit Medical Form 10-Q, Q3 2026, Oct 29, 2026; Merit Medical Q3 2026 release, Oct 29, 2026)

Domestic revenue was $255.9 million, up from $230.6 million, and international revenue $160.3 million, up from $153.6 million. The CEO said U.S. revenue growth was strong and demand was better than expected on both platforms. (Merit Medical Form 10-Q, Q3 2026, Oct 29, 2026; Merit Medical Q3 2026 release, Oct 29, 2026)

Merit Medical's GAAP diluted EPS was $0.70 in Q3 2026, against $0.46, on net income of $42.3 million, against $27.8 million. GAAP operating margin rose to 14.1% from 11.1%, while GAAP gross margin slipped to 48.2% from 48.5%. (Merit Medical Q3 2026 release, Oct 29, 2026)

Non-GAAP EPS was $1.12, against $0.92. The largest adjustments were amortization of intangibles in cost of sales ($0.24 a share) and in operating expenses ($0.03), performance-based share-based compensation ($0.11) and long-term debt costs ($0.02). Non-GAAP figures do not remove non-performance-based stock compensation of $6.4 million. (Merit Medical Q3 2026 release, Oct 29, 2026)

Diluted shares were 60,379 thousand, against 59,919 thousand. Merit says its non-GAAP EPS includes the dilutive effect of its 3.00% Convertible Senior Notes due 2029 under the if-converted method. (Merit Medical Q3 2026 release, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Merit Medical gives full-year revenue and non-GAAP EPS guidance in its release and no GAAP guidance other than revenue. On October 29, 2026 it raised 2026 guidance to total revenue of $1.635 to $1.642 billion, from $1.631 to $1.643 billion, and non-GAAP EPS of $4.33 to $4.37, from $4.25 to $4.35. (Merit Medical Q3 2026 release, Oct 29, 2026)

Merit Medical's guidance excludes the potential impact of trade policies implemented after October 29, 2026, material acquisitions and non-recurring transactions. Merit also said it is working toward its Continued Growth Initiative targets for the three years ending December 31, 2026. (Merit Medical Q3 2026 release, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover Merit Medical, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Merit Medical's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning MMSI is on is MMSI a buy or a sell?, what analysts expect next is on the MMSI forecast, and what the company does is on the Merit Medical Systems (MMSI) stock page.

Every number on this page can be traced to a document Merit Medical published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.