Merit Medical Systems Delivers Strong Q4 Performance, Exceeds Expectations
Merit Medical Systems, a leading medical technology company, has announced its fourth quarter and full-year 2024 results, showcasing a strong performance that exceeded expectations. The company reported total revenue of $355.2 million, up 9% year-over-year on a GAAP basis and up 10% year-over-year on a constant currency basis.
According to Fred Lampropoulos, Founder, Chairman, and Chief Executive Officer of Merit Medical Systems, the better-than-expected total constant currency revenue results were driven by strong organic growth, with contributions from acquired products coming in largely in line with what their fourth quarter guidance had assumed. This performance caps off an impressive year of operating and financial performance in 2024, highlighted by more than 8% total constant currency revenue growth, including 6% organic constant currency growth.
Merit Medical Systems delivered significant improvements in its profitability profile during the fourth quarter, with non-GAAP operating profit growth of 30% and a non-GAAP operating margin of 19.6% of sales, up approximately 305 basis points year-over-year. The company also reported 26% growth in its non-GAAP earnings per share, exceeding the high end of their expectations.
Speaking on the call, Fred Lampropoulos emphasized the importance of the strong performance in the fourth quarter, saying, 'We were pleased to deliver strong performance in the fourth quarter, capping off an impressive year of operating and financial performance in 2024.' He also highlighted the company's focus on delivering value to its customers and shareholders.
Merit Medical Systems' Q4 results demonstrate the company's continued success in a highly competitive market. With a strong revenue growth rate and significant improvements in profitability, the company is well-positioned for further growth in 2025.
