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Form 8-K

sec.gov

8-K — MERIT MEDICAL SYSTEMS INC

Accession: 0000856982-26-000042

Filed: 2026-07-30

Period: 2026-07-30

CIK: 0000856982

SIC: 3841 (SURGICAL & MEDICAL INSTRUMENTS & APPARATUS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — mmsi-20260730x8k.htm (Primary)

EX-99.1 (mmsi-20260730xex99d1.htm)

EX-99.2 (mmsi-20260730xex99d2.htm)

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8-K

8-K (Primary)

Filename: mmsi-20260730x8k.htm · Sequence: 1

MERIT MEDICAL SYSTEMS INC_July 30, 2026

0000856982falseMERIT MEDICAL SYSTEMS INC00008569822026-07-302026-07-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): July 30, 2026

Merit Medical Systems, Inc.

(Exact name of registrant as specified in its charter)

Utah

​ ​ ​

0-18592

​ ​ ​

87-0447695

(State or other jurisdiction of

(Commission

(I.R.S. Employer

incorporation or organization)

File Number)

Identification No.)

1600 West Merit Parkway

​ ​ ​

South Jordan, Utah

84095

(Address of principal executive offices)

(Zip Code)

(801) 253-1600

(Registrant's telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

​ ​ ​

Trading Symbol(s)

​ ​ ​

Name of each exchange on which registered

Common Stock, no par value

MMSI

NASDAQ Global Select Market System

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company        ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.  Results of Operations and Financial Condition.

On July 30, 2026, Merit Medical Systems, Inc. (“Merit”) issued a press release announcing its operating and financial results for the quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated herein by reference.

Item 7.01. Regulation FD Disclosure.

On July 30, 2026, Merit is conducting a conference call to discuss its operating and financial results for the quarter ended June 30, 2026. A live webcast and conference call presentation will also be available for the conference call at merit.com. A copy of the conference call presentation is furnished as Exhibit 99.2 to this report and incorporated herein by reference.

The information contained in Item 2.02 and Item 7.01 of this report (including the exhibits attached hereto) is furnished pursuant to General Instruction B.2. of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by Merit under the Securities Act of 1933, as amended, or the Exchange Act.

In addition to disclosing results that are determined in accordance with Generally Accepted Accounting Principles (“GAAP”), Merit is disclosing non-GAAP financial information in both the press release announcing its operating and financial results and the conference call presentation. Reconciliations of certain of these non-GAAP financial measures to the comparable GAAP financial measures are included in the press release and conference call presentation attached as Exhibit 99.1 and 99.2 to this report, respectively. Merit does not provide guidance for GAAP reported financial measures (other than revenue) or a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP reported financial measures (other than revenue) because Merit is unable to predict with reasonable certainty the financial impact of items such as expenses related to acquisitions or other extraordinary transactions, non-cash expenses related to amortization or write-off of previously acquired tangible and intangible assets, certain severance expenses, performance-based stock compensation expenses, expenses resulting from non-ordinary course litigation or administrative proceedings and resulting settlements, governmental proceedings, and changes in governmental or industry regulations. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, Merit is unable to address the significance of the unavailable information, which could be material to future results. Specifically, Merit is not, without unreasonable effort, able to reasonably predict the amount and impact of these items and Merit believes inclusion of the most directly comparable GAAP financial measure, and a reconciliation of these forward-looking non-GAAP figures to their GAAP counterparts, could be confusing to investors or cause undue reliance.

Item 9.01.  Financial Statements and Exhibits.

(d)            Exhibits

EXHIBIT NUMBER

DESCRIPTION

99.1

Press Release, dated July 30, 2026, entitled “Merit Medical Reports Second Quarter 2026 Results and Updates Full-Year 2026 Guidance” including unaudited financial information.

99.2

Conference Call Presentation

104

The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MERIT MEDICAL SYSTEMS, INC.

Date: July 30, 2026

By:

/s/ Brian G. Lloyd

Brian G. Lloyd

Chief Legal Officer and Corporate Secretary

3

EX-99.1

EX-99.1

Filename: mmsi-20260730xex99d1.htm · Sequence: 2

Exhibit 99.1

Contacts:

PR/Media Inquiries:

Sarah Comstock

Merit Medical

Investor Inquiries:

Mike Piccinino, CFA, IRC

ICR Healthcare

+1-801-432-2864

+1-443-213-0509

sarah.comstock@merit.com

mike.piccinino@icrhealthcare.com

FOR IMMEDIATE RELEASE

MERIT MEDICAL REPORTS SECOND QUARTER 2026 RESULTS AND UPDATES FULL-YEAR 2026 GUIDANCE

Financial Highlights†

● Reported revenue of $418.8 million, up 10%

● Constant currency revenue* and constant currency revenue, organic* up 9% and up 9%, respectively

● GAAP operating margin of 14.4%, compared to 12.3% in prior year period

● Non-GAAP operating margin* of 22.6%, compared to 21.2% in prior year period

● GAAP EPS $0.65, up 20%

● Non-GAAP EPS* $1.19, up 18%

● Cash flow from operations of $110.0 million year-to-date, down 11%

● Free cash flow* generation of $76.6 million year-to-date, down 14%

† Comparisons above are calculated for the current quarter compared with the second quarter of 2025, unless otherwise specified. Amounts stated in this release are rounded, while percentages are calculated from the underlying amounts.

* Constant currency revenue; constant currency revenue, organic; non-GAAP gross profit and margin; non-GAAP operating income and margin; non-GAAP net income; non-GAAP EPS; and free cash flow figures (used here and below) are non-GAAP financial measures. A reconciliation of these financial measures to their most directly comparable GAAP financial measures is included under the heading “Non-GAAP Financial Measures” below.

SOUTH JORDAN, Utah, July 30, 2026 -- Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading global manufacturer and marketer of healthcare technology, today announced financial results for the three and six-month periods ended June 30, 2026.

“Merit delivered second quarter financial results that exceeded the high end of our expectations, driven primarily by 9% organic, constant currency revenue growth, excluding the impact of a strategic divestiture,” said Martha G. Aronson, Merit’s President and CEO. “We experienced improving revenue growth trends across our global business in Q2, as expected, with notable strength in sales to customers in the U.S. which increased 10% year-over-year, well ahead of our expectations. We also delivered improvement in both our non-GAAP operating margin and our non-GAAP earnings per share, which increased by 140 basis points and 18%, respectively, year-over-year.”

1

Ms. Aronson continued: “We have increased our 2026 revenue and non-GAAP earnings per share guidance to reflect the stronger-than-expected results over the first half of 2026 and remain confident in our team’s ability to execute, with attractive constant currency growth, improving profitability, and solid cash flow generation this year. Our team remains focused on delivering our Continued Growth Initiative financial targets for the three-year period ending December 31, 2026, and, in parallel, we are developing our longer-term strategic plan focused on identifying opportunities to better position the company for sustainable growth, enhanced profitability and value creation for our shareholders.”

Merit’s revenue by product category for the three and six-month periods ended June 30, 2026 and 2025 was as follows (unaudited; in thousands, except for percentages):

​ ​ ​

Three Months Ended

Reported

Constant Currency*

​ ​ ​

June 30,

Impact of foreign

June 30,

​ ​ ​

2026

​ ​ ​

2025

% Change

exchange

2026

% Change

Foundational

Access

$

161,786

$

152,122

6

%

$

(2,340)

$

159,446

5

%

OEM

48,338

43,218

12

%

(29)

48,309

12

%

Procedural Solutions

27,949

31,741

(12)

%

140

28,089

(12)

%

Vascular Intervention

41,652

34,955

19

%

(409)

41,243

18

%

Other

1,236

346

257

%

1,102

2,338

576

%

Total Foundational

280,961

262,382

7

%

(1,536)

279,425

6

%

Therapeutic

Cardiac Therapies

28,510

22,930

24

%

(479)

28,031

22

%

Endoscopy

23,647

18,400

29

%

37

23,684

29

%

OEM

12,797

9,735

31

%

(20)

12,777

31

%

Oncology

25,774

23,943

8

%

(171)

25,603

7

%

Renal Therapies

12,713

12,817

(1)

%

(164)

12,549

(2)

%

Vascular Intervention

34,441

32,255

7

%

(654)

33,787

5

%

Total Therapeutic

137,882

120,080

15

%

(1,451)

136,431

14

%

Total

$

418,843

$

382,462

10

%

$

(2,987)

$

415,856

9

%

​ ​ ​

Six Months Ended

Reported

Constant Currency *

​ ​ ​

June 30,

Impact of foreign

June 30,

​ ​ ​

2026

​ ​ ​

2025

% Change

exchange

2026

% Change

Foundational

Access

$

312,910

$

286,520

9

%

$

(7,520)

$

305,390

7

%

OEM

87,878

86,641

1

%

(264)

87,614

1

%

Procedural Solutions

54,437

60,310

(10)

%

(18)

54,419

(10)

%

Vascular Intervention

80,690

67,804

19

%

(1,472)

79,218

17

%

Other

525

1,489

(65)

%

2,749

3,274

120

%

Total Foundational

536,440

502,764

7

%

(6,525)

529,915

5

%

Therapeutic

Cardiac Therapies

55,914

43,489

29

%

(1,694)

54,220

25

%

Endoscopy

45,339

34,951

30

%

20

45,359

30

%

OEM

20,276

20,877

(3)

%

(50)

20,226

(3)

%

Oncology

49,282

45,994

7

%

(526)

48,756

6

%

Renal Therapies

24,225

26,206

(8)

%

(392)

23,833

(9)

%

Vascular Intervention

69,244

63,532

9

%

(1,756)

67,488

6

%

Total Therapeutic

264,280

235,049

12

%

(4,398)

259,882

11

%

Total

$

800,720

$

737,813

9

%

$

(10,923)

$

789,797

7

%

2

Financial Summary:

GAAP gross margin was 51.4%, compared to 48.2% for the second quarter of 2025. Non-GAAP gross margin* was 55.8%, compared to 53.2% for the second quarter of 2025.

GAAP operating margin was 14.4%, compared to 12.3% for the second quarter of 2025. Non-GAAP operating margin* was 22.6%, compared to 21.2% for the second quarter of 2025.

GAAP net income was $38.8 million, or $0.65 per share, compared to $32.6 million, or $0.54 per share, for the second quarter of 2025. Non-GAAP net income* was $71.3 million, or $1.19 per share, compared to $61.0 million, or $1.01 per share, for the second quarter of 2025.

As of June 30, 2026, Merit had cash and cash equivalents of $448.7 million and total debt obligations of $747.5 million, compared to cash and cash equivalents of $446.4 million and total debt obligations of $747.5 million as of December 31, 2025. Merit had available borrowing capacity of approximately $697 million as of June 30, 2026.

Fiscal Year 2026 Financial Guidance

Based upon the information currently available to Merit’s management, for the twelve-month period ending December 31, 2026, absent the potential impact of trade policies and related actions implemented by the U.S. and other countries subsequent to today’s date, material acquisitions, non-recurring transactions or other factors beyond Merit’s current expectations, Merit anticipates the following financial results:

Revenue and Earnings Guidance*

​ ​ ​

Updated Guidance

Prior Guidance(2)

Year Ending

% Change

Year Ending

% Change

Financial Measure

December 31, 2026

Y/Y

December 31, 2026

Y/Y

Total Revenue

$1.631 - $1.643 billion

8% - 8%

$1.612 - $1.634 billion

6% - 8%

Non-GAAP Earnings Per Share(1)

$4.25 - $4.35

11% - 14%

$4.01 - $4.15

5% - 8%

*Percentage figures approximated; dollar figures may not foot due to rounding.

(1) Merit’s non-GAAP earnings per share reflect the dilutive impact of its 3.00% Convertible Senior Notes due 2029 (the “Convertible Notes”) calculated using the if-converted method of approximately $0.03 per share for the year ending December 31, 2026. Any offsetting impacts of the capped call associated with the Convertible Notes are not considered.

(2) “Prior Guidance” reflects Merit’s full-year 2026 financial guidance, previously introduced on April 30, 2026.

Merit does not provide guidance for GAAP reported financial measures (other than revenue) or a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP reported financial measures (other than revenue) because Merit is unable to predict with reasonable certainty the financial impact of various items which could impact Merit’s future financial results, such as expenses attributable to acquisitions or other extraordinary transactions, non-cash expenses related to amortization or write-off of previously acquired tangible and intangible assets, certain employee termination benefits, performance-based stock compensation expenses, expenses resulting from non-ordinary course litigation or administrative proceedings and resulting settlements, governmental proceedings, and changes in governmental or industry regulations. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, Merit is unable to address the significance of the unavailable information, which could be material to future results. Specifically, Merit is not, without unreasonable effort, able to reasonably predict the amount and impact of these items and Merit believes inclusion of the most comparable GAAP financial measure, and a reconciliation of these forward-looking non-GAAP measures to their GAAP counterparts could be confusing to investors or cause undue reliance.

Merit’s financial guidance for the year ending December 31, 2026 is subject to risks and uncertainties identified in this release and Merit’s filings with the SEC. This guidance is based on information and estimates available to Merit as of July 30, 2026. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results will likely vary, and could vary materially, from past results and those anticipated, estimated or projected.

3

CONFERENCE CALL

As previously announced, Merit will hold its investor conference call today, Thursday, July 30, 2026, at 4:30 p.m., Eastern Time, to discuss its results for the second quarter and provide an operational update. To access the conference call, please pre-register using the following link. Registrants will receive confirmation with dial-in details. A live webcast and slide deck will also be available at merit.com.

4

CONSOLIDATED BALANCE SHEETS

(in thousands)

June 30,

December 31,

2026

2025

ASSETS

(Unaudited)

Current Assets

Cash and cash equivalents

$

448,699

$

446,404

Trade receivables, net

224,237

203,710

Other receivables

23,960

17,773

Inventories

374,112

333,705

Prepaid expenses and other assets

33,496

31,493

Prepaid income taxes

5,033

4,941

Income tax refund receivables

2,701

2,128

Total current assets

1,112,238

1,040,154

Property and equipment, net

436,749

428,401

Intangible assets, net

612,026

537,654

Goodwill

539,772

506,837

Deferred income tax assets

7,200

7,049

Operating lease right-of-use assets

83,776

87,600

Other assets

71,859

78,227

Total Assets

$

2,863,620

$

2,685,922

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities

Trade payables

$

70,737

$

60,551

Accrued expenses

172,185

159,486

Current operating lease liabilities

10,921

10,876

Income taxes payable

11,090

8,851

Total current liabilities

264,933

239,764

Long-term debt

736,258

734,038

Deferred income tax liabilities

39,704

19,665

Liabilities related to unrecognized tax benefits

2,248

2,248

Deferred compensation payable

19,297

17,542

Deferred credits

1,347

1,398

Long-term operating lease liabilities

72,942

76,658

Other long-term obligations

47,087

10,306

Total liabilities

1,183,816

1,101,619

Stockholders' Equity

Common stock

783,892

763,909

Retained earnings

903,828

824,030

Accumulated other comprehensive loss

(7,916)

(3,636)

Total stockholders' equity

1,679,804

1,584,303

Total Liabilities and Stockholders' Equity

$

2,863,620

$

2,685,922

5

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited, in thousands except per share amounts)

​ ​ ​

Three Months Ended

​ ​ ​

Six Months Ended

June 30,

June 30,

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

2026

​ ​ ​

2025

Net sales

$

418,843

$

382,462

$

800,720

$

737,813

Cost of sales

203,677

197,975

400,757

381,306

Gross profit

215,166

184,487

399,963

356,507

Operating expenses:

Selling, general and administrative

129,229

113,097

247,439

220,583

Research and development

25,389

24,367

47,998

46,845

Contingent consideration expense (benefit)

145

143

(34)

1,166

Total operating expenses

154,763

137,607

295,403

268,594

Income from operations

60,403

46,880

104,560

87,913

Other income (expense):

Interest income

3,752

3,761

7,652

7,551

Interest expense

(12,118)

(6,775)

(18,644)

(13,343)

Other (expense) income — net

(723)

(487)

11,292

(784)

Total other (expense) income — net

(9,089)

(3,501)

300

(6,576)

Income before income taxes

51,314

43,379

104,860

81,337

Income tax expense

12,511

10,798

25,062

18,609

Net income

$

38,803

$

32,581

$

79,798

$

62,728

Earnings per common share

Basic

$

0.65

$

0.55

$

1.34

$

1.06

Diluted

$

0.65

$

0.54

$

1.33

$

1.03

Weighted average shares outstanding

Basic

59,679

59,140

59,595

59,019

Diluted

60,006

60,611

60,010

60,945

6

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited, in thousands)

Six Months Ended

June 30,

​ ​ ​

2026

​ ​ ​

2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$

79,798

$

62,728

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

61,538

60,313

Gain on disposition of a business

(12,557)

(249)

Amortization of right-of-use operating lease assets

5,779

5,766

Fair value adjustments related to contingent consideration liabilities

(34)

1,166

Stock-based compensation expense

21,876

19,951

Other adjustments

4,388

3,173

Changes in operating assets and liabilities, net of acquisitions and divestitures

(50,831)

(28,969)

Total adjustments

30,159

61,151

Net cash, cash equivalents, and restricted cash provided by operating activities

109,957

123,879

CASH FLOWS FROM INVESTING ACTIVITIES:

Capital expenditures for property and equipment

(33,340)

(34,812)

Proceeds from asset and business dispositions

25,555

294

Cash paid for notes receivable and other investments

(14,617)

Cash paid in acquisitions, net of cash acquired

(92,997)

(122,555)

Other investing, net

(1,617)

(1,296)

Net cash, cash equivalents, and restricted cash used in investing activities

(102,399)

(172,986)

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from issuance of common stock

4,623

20,014

Contingent payments related to acquisitions

(2,991)

(2,567)

Payment of taxes related to an exchange of common stock

(6,973)

(6,145)

Net cash, cash equivalents, and restricted cash (used in) provided by financing activities

(5,341)

11,302

Effect of exchange rates on cash

140

2,953

Net increase (decrease) in cash, cash equivalents and restricted cash

2,357

(34,852)

CASH, CASH EQUIVALENTS AND RESTRICTED CASH:

Beginning of period

448,549

378,767

End of period

$

450,906

$

343,915

RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS:

Cash and cash equivalents

448,699

341,819

Restricted cash reported in prepaid expenses and other current assets

2,207

2,096

Total cash, cash equivalents and restricted cash

$

450,906

$

343,915

7

Non-GAAP Financial Measures

Although Merit’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), Merit’s management believes that the non-GAAP financial measures referenced in this release may provide investors with useful information regarding the underlying business trends and performance of Merit’s ongoing operations and can be useful for period-over-period comparisons of such operations. Non-GAAP financial measures used in this release include:

● constant currency revenue;

● constant currency revenue, organic;

● non-GAAP gross profit and margin;

● non-GAAP operating income and margin;

● non-GAAP net income;

● non-GAAP earnings per share; and

● free cash flow.

Merit’s management team uses these non-GAAP financial measures to evaluate Merit’s profitability and efficiency, to compare operating and financial results to prior periods, to evaluate changes in the results of its operating segments, and to measure and allocate financial resources internally. However, Merit’s management does not consider such non-GAAP measures in isolation or as an alternative to measures determined in accordance with GAAP.

Readers should consider non-GAAP measures used in this release in addition to, not as a substitute for, financial reporting measures prepared in accordance with GAAP. These non-GAAP financial measures generally exclude some, but not all, items that may affect Merit’s net income. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which items are excluded. Merit believes it is useful to exclude such items in the calculation of non-GAAP gross profit and margin, non-GAAP operating income and margin, non-GAAP net income, and non-GAAP earnings per share (in each case, as further illustrated in the reconciliation tables below) because such amounts in any specific period may not directly correlate to the underlying performance of Merit’s business operations and can vary significantly between periods as a result of factors such as acquisition or other extraordinary transactions, non-cash expenses related to amortization or write-off of previously acquired tangible and intangible assets, certain employee termination benefits, expenses resulting from non-ordinary course litigation or administrative proceedings and resulting settlements, governmental proceedings or changes in tax or industry regulations, gains or losses on disposal of certain assets, equity method investment loss (income) from equity investees, and debt issuance costs. Merit may incur similar types of expenses in the future, and the non-GAAP financial information included in this release should not be viewed as a statement or indication that these types of expenses will not recur. Additionally, the non-GAAP financial measures used in this release may not be comparable with similarly titled measures of other companies. Merit urges readers to review the reconciliations of its non-GAAP financial measures to their most directly comparable GAAP financial measures included herein, and not to rely on any single financial measure to evaluate Merit’s business or results of operations.

Constant Currency Revenue

Merit’s constant currency revenue is prepared by converting the current-period reported revenue of subsidiaries whose functional currency is a currency other than the U.S. dollar at the applicable foreign exchange rates in effect during the comparable prior-year period and adjusting for the effects of hedging transactions on reported revenue, which are recorded in the U.S. dollar. The constant currency revenue adjustment of $(3.0) million and $(10.9) million to reported revenue for the three and six-month periods ended June 30, 2026 was calculated using the applicable average foreign exchange rates for the three and six-month periods ended June 30, 2025.

8

Constant Currency Revenue, Organic

Merit’s constant currency revenue, organic, is defined, with respect to prior fiscal year periods, as GAAP revenue less revenue from certain divestitures. For the three and six-month periods ended June 30, 2025, Merit’s constant currency revenue, organic, excludes revenues attributable to the DualCap® product line which Merit sold to Health Line International Corporation (“Health Line”) on February 17, 2026 (the “DualCap Divestiture”).

With respect to current fiscal year periods, constant currency revenue, organic, is defined as constant currency revenue (as defined above), less revenue from certain acquisitions and divestitures. For the three and six-month periods ended June 30, 2026, Merit’s constant currency revenue, organic, excludes revenues attributable to products acquired in connection with (i) Merit’s acquisition of View Point Medical, Inc. (“View Point”) in April 2026 (the “View Point Merger”), (ii) the assets acquired from Pentax of America, Inc. related to the C2 CryoBalloon™ device in November 2025 (the “C2 Acquisition”) and (iii) Merit’s acquisition of Biolife Delaware, L.L.C. (“Biolife”) in May 2025 (the “Biolife Merger”). For the six-month period ended June 30, 2026, Merit’s constant currency revenue, organic, excludes revenues attributable to the DualCap Divestiture.

Non-GAAP Gross Profit and Margin

Non-GAAP gross profit is calculated by reducing GAAP cost of sales by amounts recorded for amortization of intangible assets and inventory mark-up related to acquisitions. Non-GAAP gross margin is calculated by dividing non-GAAP gross profit by reported net sales.

Non-GAAP Operating Income and Margin

Non-GAAP operating income is calculated by adjusting GAAP operating income for certain items which are deemed by Merit’s management to be outside of core operations and vary in amount and frequency among periods, such as expenses related to acquisitions or other extraordinary transactions, non-cash expenses related to amortization or write-off of previously acquired tangible and intangible assets, certain employee termination benefits, performance-based stock compensation expenses, expenses resulting from non-ordinary course litigation or administrative proceedings and resulting settlements, governmental proceedings, and changes in governmental or industry regulations, as well as other items referenced in the tables below. Non-GAAP operating margin is calculated by dividing non-GAAP operating income by reported net sales.

Non-GAAP Net Income

Non-GAAP net income is calculated by adjusting GAAP net income for the items set forth in the definition of non-GAAP operating income above, as well as for expenses related to Merit’s long-term debt, gains or losses on disposal of certain assets, equity method investment loss (income) from equity investees, and other items set forth in the tables below.

Non-GAAP EPS

Non-GAAP EPS is defined as non-GAAP net income divided by the diluted shares outstanding for the corresponding period.

Free Cash Flow

Free cash flow is defined as cash flow from operations calculated in accordance with GAAP, less capital expenditures for property and equipment calculated in accordance with GAAP, as set forth in the consolidated statement of cash flows.

Other Non-GAAP Financial Measure Reconciliations

The following tables set forth supplemental financial data and corresponding reconciliations of non-GAAP financial measures to Merit’s corresponding financial measures prepared in accordance with GAAP, in each case, for the three and six-month periods ended June 30, 2026 and 2025. The non-GAAP income adjustments referenced in the following tables do not reflect non-performance-based stock compensation expense of $6.3 million and $5.0 million for the three-month periods ended June 30, 2026 and 2025, respectively, and $9.5 million and $9.3 million for the six-month periods ended June 30, 2026 and 2025, respectively.

9

Reconciliation of GAAP Net Income to Non-GAAP Net Income

(Unaudited, in thousands except per share amounts)

Three Months Ended

June 30, 2026

​ ​ ​

Pre-Tax

​ ​ ​

Tax Impact

​ ​ ​

After-Tax

​ ​ ​

Per Share Impact

GAAP net income

$

51,314

$

(12,511)

$

38,803

$

0.65

Non-GAAP adjustments:

Cost of Sales

Amortization of intangibles

18,718

(4,419)

14,299

0.24

Operating Expenses

Contingent consideration expense

145

(33)

112

0.00

Amortization of intangibles

2,496

(589)

1,907

0.03

Performance-based share-based compensation (a)

6,621

(756)

5,865

0.10

Corporate restructuring (b)

2,159

(510)

1,649

0.03

Acquisition-related

2,568

(194)

2,374

0.04

Medical Device Regulation expenses (c)

1,452

(342)

1,110

0.02

Other (Income) Expense

Long-term debt costs (e)

6,477

(1,529)

4,948

0.08

Other non-operating loss (f)

294

(82)

212

0.00

Non-GAAP net income

$

92,244

$

(20,965)

$

71,279

$

1.19

Diluted shares

60,006

Three Months Ended

June 30, 2025

Pre-Tax

Tax Impact

After-Tax

Per Share Impact

GAAP net income

​ ​ ​

$

43,379

​ ​ ​

$

(10,798)

​ ​ ​

$

32,581

​ ​ ​

$

0.54

Non-GAAP adjustments:

Cost of Sales

Amortization of intangibles

18,980

(4,485)

14,495

0.24

Inventory mark-up related to acquisitions

67

(16)

51

0.00

Operating Expenses

Contingent consideration expense

143

25

168

0.00

Amortization of intangibles

2,543

(601)

1,942

0.03

Performance-based share-based compensation (a)

5,879

(345)

5,534

0.09

Corporate restructuring (b)

2,587

(611)

1,976

0.03

Acquisition-related

2,140

(14)

2,126

0.04

Medical Device Regulation expenses (c)

1,634

(385)

1,249

0.02

Other (d)

50

(12)

38

0.00

Other (Income) Expense

Long-term debt costs (e)

1,414

(334)

1,080

0.02

Gain on disposal of business unit

(249)

(249)

(0.00)

Non-GAAP net income

$

78,567

$

(17,576)

$

60,991

$

1.01

Diluted shares

60,611

Note: Certain per-share impacts may not sum to totals due to rounding.

10

Reconciliation of GAAP Net Income to Non-GAAP Net Income

(Unaudited, in thousands except per share amounts)

Six Months Ended

June 30, 2026

​ ​ ​

Pre-Tax

​ ​ ​

Tax Impact

​ ​ ​

After-Tax

​ ​ ​

Per Share Impact

GAAP net income

$

104,860

$

(25,062)

$

79,798

$

1.33

Non-GAAP adjustments:

Cost of Sales

Amortization of intangibles

36,945

(8,722)

28,223

0.47

Operating Expenses

Contingent consideration benefit

(34)

5

(29)

(0.00)

Amortization of intangibles

4,950

(1,168)

3,782

0.06

Performance-based share-based compensation (a)

12,429

(1,062)

11,367

0.19

Corporate restructuring (b)

2,159

(510)

1,649

0.03

Acquisition-related

6,811

(905)

5,906

0.10

Medical Device Regulation expenses (c)

2,070

(488)

1,582

0.03

Other (Income) Expense

Long-term debt costs (e)

7,891

(1,863)

6,028

0.10

Gain on disposal of business unit

(12,502)

1,520

(10,982)

(0.18)

Other non-operating loss (f)

825

(207)

618

0.01

Non-GAAP net income

$

166,404

$

(38,462)

$

127,942

$

2.13

Diluted shares

60,010

Six Months Ended

June 30, 2025

​ ​ ​

Pre-Tax

​ ​ ​

Tax Impact

​ ​ ​

After-Tax

​ ​ ​

Per Share Impact

GAAP net income

$

81,337

$

(18,609)

$

62,728

$

1.03

Non-GAAP adjustments:

Cost of Sales

Amortization of intangibles

36,586

(8,645)

27,941

0.46

Inventory mark-up related to acquisitions

67

(16)

51

0.00

Operating Expenses

Contingent consideration expense

1,166

34

1,200

0.02

Amortization of intangibles

4,937

(1,167)

3,770

0.06

Performance-based share-based compensation (a)

10,653

(931)

9,722

0.16

Corporate restructuring (b)

2,587

(611)

1,976

0.03

Acquisition-related

2,156

(18)

2,138

0.04

Medical Device Regulation expenses (c)

3,228

(762)

2,466

0.04

Other (d)

29

(7)

22

0.00

Other (Income) Expense

Long-term debt costs (e)

2,828

(668)

2,160

0.04

Gain on disposal of business unit

(249)

(249)

(0.00)

Non-GAAP net income

$

145,325

$

(31,400)

$

113,925

$

1.87

Diluted shares

60,945

Note: Certain per-share impacts may not sum to totals due to rounding.

11

Reconciliation of Reported Operating Income to Non-GAAP Operating Income

(Unaudited, in thousands except percentages)

Three Months Ended

Three Months Ended

Six Months Ended

Six Months Ended

June 30, 2026

June 30, 2025

June 30, 2026

June 30, 2025

​ ​ ​

Amounts

​ ​ ​

% Sales

​ ​ ​

Amounts

​ ​ ​

% Sales

​ ​ ​

Amounts

​ ​ ​

% Sales

​ ​ ​

Amounts

​ ​ ​

% Sales

Net Sales as Reported

$

418,843

$

382,462

$

800,720

$

737,813

GAAP Operating Income

60,403

14.4

%

46,880

12.3

%

104,560

13.1

%

87,913

11.9

%

Cost of Sales

Amortization of intangibles

18,718

4.5

%

18,980

5.0

%

36,945

4.6

%

36,586

5.0

%

Inventory mark-up related to acquisitions

67

0.0

%

67

0.0

%

Operating Expenses

Contingent consideration expense (benefit)

145

0.0

%

143

0.0

%

(34)

(0.0)

%

1,166

0.2

%

Amortization of intangibles

2,496

0.6

%

2,543

0.7

%

4,950

0.6

%

4,937

0.7

%

Performance-based share-based compensation (a)

6,621

1.6

%

5,879

1.5

%

12,429

1.6

%

10,653

1.4

%

Corporate restructuring (b)

2,159

0.5

%

2,587

0.7

%

2,159

0.3

%

2,587

0.4

%

Acquisition-related

2,568

0.6

%

2,140

0.6

%

6,811

0.9

%

2,156

0.3

%

Medical Device Regulation expenses (c)

1,452

0.3

%

1,634

0.4

%

2,070

0.3

%

3,228

0.4

%

Other (d)

50

0.0

%

29

0.0

%

Non-GAAP Operating Income

$

94,562

22.6

%

$

80,903

21.2

%

$

169,890

21.2

%

$

149,322

20.2

%

Note: Certain percentages may not sum to totals due to rounding.

(a) Represents performance-based share-based compensation expense, including stock-settled and cash-settled awards.

(b) Includes employee termination benefits associated with activities related to corporate restructuring initiatives and costs to terminate certain distribution contracts from the Biolife Merger.

(c) Represents incremental expenses incurred to comply with the E.U. Medical Device Regulation.

(d) Represents costs to comply with Merit’s corporate integrity agreement with the U.S. Department of Justice.

(e) Represents costs associated with the Convertible Notes including the amortization of debt issuance costs and a one-time charge for additional interest incurred pursuant to Merit's obligation to remove restrictive legends.

(f) Includes equity method investment loss from equity investees.

12

Reconciliation of Reported Revenue to Constant Currency Revenue (Non-GAAP), and Constant Currency Revenue, Organic (Non-GAAP)

(Unaudited, in thousands except percentages)

Three Months Ended

Six Months Ended

June 30,

June 30,

​ ​ ​

% Change

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

% Change

​ ​ ​

2026

​ ​ ​

2025

Reported Revenue

9.5

%

$

418,843

$

382,462

8.5

%

$

800,720

$

737,813

Add: Impact of foreign exchange

(2,987)

(10,923)

Constant Currency Revenue (a)

8.7

%

$

415,856

$

382,462

7.0

%

$

789,797

$

737,813

Less: Revenue from certain acquisitions

(4,660)

(13,704)

Less: Revenue from divestitures (b)

(5,296)

(1,644)

(10,212)

Constant Currency Revenue, Organic (a)

9.0

%

$

411,196

$

377,166

6.4

%

$

774,449

$

727,601

(a) A non-GAAP financial measure. For a definition of this and other non-GAAP financial measures, see the section of this release entitled “Non-GAAP Financial Measures.”

(b) On February 17, 2026, Merit sold certain assets relating to the DualCap product line to Health Line for $28 million, of which $25.5 million was paid to Merit at closing.

13

Reconciliation of Reported Gross Margin to Non-GAAP Gross Margin (Non-GAAP)

(Unaudited, as a percentage of reported revenue)

Three Months Ended

Six Months Ended

June 30,

June 30,

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

2026

​ ​ ​

2025

Reported Gross Margin

51.4

%

48.2

%

50.0

%

48.3

%

Add back impact of:

Amortization of intangibles

4.5

%

5.0

%

4.6

%

5.0

%

Inventory mark-up related to acquisitions

%

0.0

%

%

0.0

%

Non-GAAP Gross Margin

55.8

%

53.2

%

54.6

%

53.3

%

Note: Certain percentages may not sum to totals due to rounding.

14

Reconciliation of Reported Cash Flow from Operations to Free Cash Flow (Non-GAAP)

(Unaudited, in thousands)

Six Months Ended

June 30,

​ ​ ​

2026

​ ​ ​

2025

Reported Cash Flow from Operations

$

109,957

$

123,879

Less: Capital Expenditures

(33,340)

(34,812)

Free Cash Flow

$

76,617

$

89,067

15

Reconciliation of 2026 Net Sales Guidance - % Change from Prior Year (Constant Currency)

Updated Guidance

Prior Guidance(1)

Low

High

Low

High

2026 Net Sales Guidance - % Change from Prior Year (GAAP)

7.6%

8.4%

6.3%

7.8%

Estimated impact of foreign currency exchange rate fluctuations

(0.8%)

(0.8%)

(0.8%)

(0.8%)

2026 Net Sales Guidance - % Change from Prior Year (Constant Currency)

6.8%

7.6%

5.6%

7.0%

Note: Certain percentages may not sum to totals due to rounding.

(1) “Prior Guidance” reflects Merit’s full-year 2026 financial guidance, previously introduced on April 30, 2026.

16

ABOUT MERIT

Founded in 1987, Merit is engaged in the development, manufacture, and distribution of proprietary medical devices used in interventional, diagnostic, and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care, and endoscopy. Merit serves customers worldwide with a domestic and international sales force and clinical support team totaling more than 800 individuals. Merit employs approximately 7,500 people worldwide.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others:

● statements preceded or followed by, or that include the words, “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “intends,” “seeks,” “believes,” “estimates,” “projects,” “forecasts,” “potential,” “target,” “continue,” “upcoming,” “optimistic” or other forms of these words or similar words or expressions, or the negative thereof or other comparable terminology;

● statements that address Merit’s future operating performance or events or developments that Merit’s management expects or anticipates will occur, including, without limitation, any statements regarding Merit’s projected revenues, earnings or other future financial measures, Merit’s plans and objectives for future operations, Merit’s proposed new products or services, the integration, development or commercialization of the business or any assets acquired from other parties, future economic conditions or performance, the implementation of, and results which may be achieved through, Merit’s Continued Growth Initiatives Program or other business optimization initiatives, and any statements of assumptions underlying any of the foregoing; and

● statements regarding Merit’s past performance, efforts, or results about which inferences or assumptions may be made, including statements proceeded or followed by the words "preliminary," "initial," "potential," "possible," "diligence," "industry-leading," "compliant," "indications" or "early feedback" or other forms of these words or similar words or expressions, or the negative thereof or other comparable terminology.

The forward-looking statements contained in this release are based on Merit management’s current expectations and assumptions regarding future events or outcomes. If underlying expectations or assumptions prove inaccurate, or risks or uncertainties materialize, actual results will likely differ, and may differ materially, from Merit’s expectations reflected in any forward-looking statements. Financial estimates are subject to change and are not intended to be relied upon as predictions of future operating results. Investors are cautioned not to unduly rely on any such forward-looking statements.

The following are some of the important risks and uncertainties that could cause Merit’s actual results to differ from management’s expectations in any forward-looking statements: risks and uncertainties arising from the conflict among the United States, Israel and Iran and related geopolitical instability; risks and uncertainties associated with Merit’s acquisition of View Point and the OneMark® Detection Imaging System and related technology; risks and uncertainties associated with Merit’s integration of the View Point business, assets and operations into its operations and its ability to achieve anticipated financial results, product development and other anticipated benefits of the acquisition; uncertainties as to whether Merit will achieve revenue or other financial performance consistent with its forecasts projected for the View Point Merger; risks and uncertainties associated with Merit’s executive succession planning activities and leadership transition; risks and uncertainties regarding trade policies or related actions implemented by the U.S. or other countries, including existing, proposed, prospective or invalidated tariffs, duties or other measures; risks and uncertainties associated with Merit’s integration of businesses or assets acquired from third parties, including View Point in April 2026, the business and assets acquired in the C2 Acquisition in November 2025 and Biolife in May 2025, and Merit’s ability to achieve the anticipated financial results, product development and other anticipated benefits of such acquisitions; effects of the Convertible Notes on Merit’s net income and earnings per share performance; restrictions and limitations set forth in the Convertible Notes and Indenture, which could affect Merit’s ability to operate its business as well as its liquidity; disruptions in Merit’s supply chain, manufacturing or sterilization processes; U.S. and global political, economic, competitive, reimbursement and regulatory conditions; modification or limitation of, or policies and procedures associated with, governmental or private insurance reimbursement policies; reduced availability of, and price increases associated with, components and other raw materials; increases in transportation expenses; risks relating to Merit’s potential inability to successfully manage growth through acquisitions generally, including the inability to effectively integrate acquired operations or products or commercialize technology developed internally or acquired through completed, proposed or future transactions; prospective financial obligations or other uncertainties associated with the DualCap Divestiture completed in February 2026; fluctuations in interest or foreign currency exchange rates and inflation; cybersecurity

17

events; government scrutiny and regulation of the medical device industry; difficulties relating to development, testing and regulatory approval, clearance and maintenance of Merit’s products; the safety, efficacy and patient and physician adoption of Merit’s products; the ability to fully enroll and the outcomes of ongoing and future clinical trials and market studies relating to Merit’s products; litigation and other legal proceedings affecting Merit; risks and possible effects of Merit’s failure to comply with U.S. and foreign laws and regulations; restrictions on Merit’s liquidity or business operations resulting from its debt agreements; infringement of Merit’s technology or the assertion that Merit’s technology infringes the rights of other parties; product recalls and product liability claims; potential for significant adverse changes in governing regulations; changes in tax laws and regulations in the United States or other jurisdictions or exposure to additional tax liabilities which may adversely affect Merit’s effective tax rate; termination of relationships with Merit’s suppliers, or failure of such suppliers to perform; development of new products and technology that could render Merit’s existing or future products obsolete; market acceptance of new products; failure to comply with applicable environmental laws; changes in key personnel; labor shortages and increases in labor costs; price and product competition; extreme weather events; and geopolitical events. For a further discussion of the risks and uncertainties and other factors that may affect Merit’s business, operations and financial condition, see Part I, Item 1A. “Risk Factors” in Merit’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC, which Merit updated in Part II, Item 1A. “Risk Factors” in Merit’s Quarterly Reports on Form 10-Q for each of the quarters ended March 31, 2026 and June 30, 2026.

All subsequent forward-looking statements attributable to Merit or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Actual results will likely differ, and may differ materially, from anticipated results. Financial estimates are subject to change and are not intended to be relied upon as predictions of future operating results. Those estimates and all other forward-looking statements included in this release are made only as of the date of this release, and except as otherwise required by applicable law, Merit assumes no obligation to update or disclose revisions to estimates and all other forward-looking statements.

TRADEMARKS

Unless noted otherwise, trademarks and registered trademarks used in this release are the property of Merit Medical Systems, Inc., its subsidiaries, or its licensors.

# # #

18

EX-99.2

EX-99.2

Filename: mmsi-20260730xex99d2.htm · Sequence: 3

Exhibit 99.2

1

Merit Medical Investor Call

July 30, 2026

Second Quarter

2026 Results

Martha Aronson

President and CEO

Raul Parra

CFO

2

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking

statements include, among others:  statements preceded or followed by, or that include the words, “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “intends,” “seeks,” “believes,” “estimates,” “projects,” “forecasts,” “potential,” “target,” “continue,”

“upcoming,” “optimistic” or other forms of these words or similar words or expressions, or the negative thereof or other comparable terminology;  statements that address Merit’s future operating performance or events or developments that Merit’s management expects or anticipates will occur, including, without limitation, any statements regarding Merit’s

projected revenues, earnings or other future financial measures, Merit’s plans and objectives for future operations, Merit’s proposed new products or services, the integration, development or commercialization of the

business or any assets acquired from other parties, future economic conditions or performance, the implementation of, and results which may be achieved through, Merit’s Continued Growth Initiatives Program or other

business optimization initiatives, and any statements of assumptions underlying any of the foregoing; and

 statements regarding Merit’s past performance, efforts, or results about which inferences or assumptions may be made, including statements proceeded or followed by the words "preliminary," "initial," "potential,"

"possible," "diligence," "industry-leading," "compliant," "indications," or "early feedback" or other forms of these words or similar words or expressions, or the negative thereof or other comparable terminology.

The forward-looking statements contained in this presentation are based on Merit management’s current expectations and assumptions regarding future events or outcomes. If underlying expectations or assumptions prove

inaccurate, or risks or uncertainties materialize, actual results will likely differ, and may differ materially, from Merit’s expectations reflected in any forward-looking statements. Financial estimates are subject to change and are

not intended to be relied upon as predictions of future operating results. Investors are cautioned not to unduly rely on any such forward-looking statements.

The following are some of the important risks and uncertainties that could cause Merit’s actual results to differ from management’s expectations in any forward-looking statements: risks and uncertainties arising from the conflict

among the United States, Israel and Iran and related geopolitical instability; risks and uncertainties associated with Merit’s acquisition of View Point Medical, Inc. (“View Point”) and the OneMark® Detection Imaging System and

related technology; risks and uncertainties associated with Merit’s integration of the View Point business, assets and operations into its operations and its ability to achieve anticipated financial results, product development and

other anticipated benefits of the acquisition; uncertainties as to whether Merit will achieve revenue or other financial performance consistent with its forecasts projected for Merit’s acquisition of View Point in April 2026 (the

“View Point Merger”); risks and uncertainties associated with Merit’s executive succession planning activities and leadership transition; risks and uncertainties regarding trade policies or related actions implemented by the U.S. or

other countries, including existing, proposed, prospective or invalidated tariffs, duties or other measures; risks and uncertainties associated with Merit’s integration of businesses or assets acquired from third parties, including

View Point in April 2026, the business and assets acquired from Pentax of America, Inc. related to the C2 CryoBalloon device in November 2025 (the “C2 Acquisition”) and Merit’s acquisition of Biolife Delaware, L.L.C. (“Biolife”)

in May 2025 (the “Biolife Merger”), and Merit’s ability to achieve the anticipated financial results, product development and other anticipated benefits of such acquisitions; effects of the Convertible Notes on Merit’s net income

and earnings per share performance; restrictions and limitations set forth in the Convertible Notes and Indenture, which could affect Merit’s ability to operate its business as well as its liquidity; disruptions in Merit’s supply chain,

manufacturing or sterilization processes; U.S. and global political, economic, competitive, reimbursement and regulatory conditions; modification or limitation of, or policies and procedures associated with, governmental or

private insurance reimbursement policies; reduced availability of, and price increases associated with, components and other raw materials; increases in transportation expenses; risks relating to Merit’s potential inability to

successfully manage growth through acquisitions generally, including the inability to effectively integrate acquired operations or products or commercialize technology developed internally or acquired through completed,

proposed or future transactions; prospective financial obligations or other uncertainties associated with the DualCap® product line which Merit sold to Health Line International Corporation (“Health Line”) on February 17, 2026

(the “DualCap Divestiture”); fluctuations in interest or foreign currency exchange rates and inflation; cybersecurity events; government scrutiny and regulation of the medical device industry; difficulties relating to development,

testing and regulatory approval, clearance and maintenance of Merit’s products; the safety, efficacy and patient and physician adoption of Merit’s products; the ability to fully enroll and the outcomes of ongoing and future clinical

trials and market studies relating to Merit’s products; litigation and other legal proceedings affecting Merit; risks and possible effects of Merit’s failure to comply with U.S. and foreign laws and regulations; restrictions on Merit’s

liquidity or business operations resulting from its debt agreements; infringement of Merit’s technology or the assertion that Merit’s technology infringes the rights of other parties; product recalls and product liability claims;

potential for significant adverse changes in governing regulations; changes in tax laws and regulations in the United States or other jurisdictions or exposure to additional tax liabilities which may adversely affect Merit’s effective

tax rate; termination of relationships with Merit’s suppliers, or failure of such suppliers to perform; development of new products and technology that could render Merit’s existing or future products obsolete; market acceptance

of new products; failure to comply with applicable environmental laws; changes in key personnel; labor shortages and increases in labor costs; price and product competition; extreme weather events; and geopolitical events. For

a further discussion of the risks and uncertainties and other factors that may affect Merit’s business, operations and financial condition, see Part I, Item 1A. “Risk Factors” in Merit’s Annual Report on Form 10-K for the year ended

December 31, 2025 filed with the SEC, which Merit updated in Part II, Item 1A. “Risk Factors” in Merit’s Quarterly Reports on Form 10-Q for each of the quarters ended March 31, 2026 and June 30, 2026.

All subsequent forward-looking statements attributable to Merit or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Actual results will likely differ, and may differ materially,

from anticipated results. Financial estimates are subject to change and are not intended to be relied upon as predictions of future operating results. Those estimates and all other forward-looking statements included in this

presentation are made only as of the date of this presentation, and except as otherwise required by applicable law, Merit assumes no obligation to update or disclose revisions to estimates and all other forward-looking

statements.

3

NON-GAAP FINANCIAL MEASURES

Although Merit’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of

America (“GAAP”), Merit’s management believes that certain non-GAAP financial measures provide investors with useful information

regarding the underlying business trends and performance of Merit’s ongoing operations and can be useful for period-over-period

comparisons of such operations. Certain financial measures included in this presentation, or which may be referenced in

management’s discussion of Merit’s historical and future operations and financial results, have not been calculated in accordance with

GAAP, and, therefore, are referenced as non-GAAP financial measures. Readers should consider non-GAAP measures used in this

presentation in addition to, not as a substitute for, financial reporting measures prepared in accordance with GAAP. These non-GAAP

financial measures generally exclude some, but not all, items that may affect Merit's net income. In addition, they are subject to

inherent limitations as they reflect the exercise of judgment by management about which items are excluded. Additionally, non-GAAP

financial measures used in this presentation may not be comparable with similarly titled measures of other companies. Merit urges

readers to review the reconciliations of its non-GAAP financial measures to the comparable GAAP financial measures, and not to rely

on any single financial measure to evaluate Merit’s business or results of operations. Please refer to “Notes to Non-GAAP Financial

Measures” at the end of these materials for more information.

TRADEMARKS

Unless noted otherwise, trademarks and registered trademarks used in this presentation are the property of Merit Medical Systems,

Inc., its subsidiaries, or its licensors.

4

Q2 2026 Q2 2025 % Change YTD 2026 YTD 2025 % Change

Revenue $418.8M $382.5M 9.5% $800.7M $737.8M 8.5%

Gross Margin 51.4% 48.2% 6.5% 50.0% 48.3% 3.4%

Operating Margin 14.4% 12.3% 17.7% 13.1% 11.9% 9.6%

Net Income $38.8M $32.6M 19.1% $79.8M $62.7M 27.2%

Earnings per Share $0.65 $0.54 20.3% $1.33 $1.03 29.2%

Financial Summary: GAAP

4

Note: Amounts in this presentation are rounded while percentages are calculated from the underlying amounts.

In millions, except per share amounts and percentages

5

Q2 2026 Q2 2025 % Change YTD 2026 YTD 2025 % Change

$411.2M $377.2M 9.0% $774.4M $727.6M 6.4% Constant Currency Revenue,

Organic*

Non-GAAP Gross Margin* 55.8% 53.2% 4.9% 54.6% 53.3% 2.4%

Non-GAAP Operating Margin* 22.6% 21.2% 6.7% 21.2% 20.2% 4.8%

Non-GAAP Net Income* $71.3M $61.0M 16.9% $127.9M $113.9M 12.3%

Non-GAAP Earnings per Share* $1.19 $1.01 18.0% $2.13 $1.87 14.1%

Financial Summary: Non-GAAP*

5

Note: Amounts in this presentation are rounded while percentages are calculated from the underlying amounts. * See "Notes to Non-GAAP Financial Measures" below for additional information regarding non-GAAP measures used in this presentation.

In millions, except per share amounts and percentages

6

Revenue Breakdown – Q2

Region Q2 2026 Q2 2025 $ Change % Change CC % Change*

Domestic $252,051 $227,082 $24,969 11.0% 11.5%

International 166,792 155,380 11,412 7.3% 4.7%

Total $418,843 $382,462 $36,381 9.5% 8.7%

6

* A non-GAAP financial measure, representing revenue growth on a constant currency (“CC”) basis. See "Notes to Non-GAAP Financial Measures" below for additional information regarding non-GAAP measures used in this presentation.

In thousands, except percentages

7

Revenue Breakdown - YTD

* A non-GAAP financial measure, representing revenue growth on a constant currency (“CC”) basis. See "Notes to Non-GAAP Financial Measures" below for additional information regarding non-GAAP measures used in this presentation.

In thousands, except percentages

Region YTD 2026 YTD 2025 $ Change % Change CC % Change*

Domestic $478,567 $440,646 $37,921 8.6% 9.2%

International 322,153 297,167 24,986 8.4% 3.8%

Total $800,720 $737,813 $62,907 8.5% 7.0%

8

Financial Metrics

Metric Q2 2026 Q2 2025 YTD 2026 YTD 2025

Depreciation & Amortization $31.0M $31.0M $61.5M $60.3M

Stock Comp (performance-based) 6.6M 5.9M 12.4M 10.7M

Stock Comp (not performance-based) 6.3M 5.0M 9.5M 9.3M

Operating Cash Flow 69.3M 83.3M 110.0M 123.9M

Capital Expenditures-Property and Equipment 17.3M 13.8M 33.3M 34.8M

8

In millions

9

Fiscal Year 2026 Financial Guidance

Merit does not provide guidance for GAAP reported financial measures (other than revenue) or a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP reported

financial measures (other than revenue) because Merit is unable to predict with reasonable certainty the financial impact of various items which could impact Merit’s future financial results, such as expenses related to

acquisitions or other extraordinary transactions, non-cash expenses related to amortization or write-off of previously acquired tangible and intangible assets, certain employee termination benefits, performance-based

stock compensation expenses, expenses resulting from non-ordinary course litigation or administrative proceedings and resulting settlements, governmental proceedings, and changes in governmental or industry

regulations. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, Merit is unable to address the significance of

the unavailable information, which could be material to future results. Specifically, Merit is not, without unreasonable effort, able to reasonably predict the amount and impact of these items and Merit believes inclusion

of the most comparable GAAP financial measure, and a reconciliation of these forward-looking non-GAAP measures to their GAAP counterparts could be confusing to investors or cause undue reliance.

Merit’s financial guidance for the year ending December 31, 2026, is subject to risks and uncertainties identified in this presentation and Merit’s filings with the U.S. Securities and Exchange Commission (the “SEC”).

This guidance is based on information and estimates available to Merit as of July 30, 2026. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results

will likely vary, and could vary materially, from past results and those anticipated, estimated or projected.

(1) “Prior Guidance” reflects Merit’s full-year 2026 financial guidance, previously introduced on April 30, 2026.

* Percentage figures approximated; percentage and dollar figures may not foot due to rounding

2026 Net Sales Guidance - % Change from Prior Year (Constant Currency) Reconciliation*

Revenue and Earnings Guidance*

(1) Merit’s non-GAAP earnings per share reflect the dilutive impact of its 3.00% Convertible Senior Notes due 2029 calculated

using the if-converted method of approximately $0.03 per share for the year ending December 31, 2026. Any offsetting

impacts of the capped call associated with the Convertible Notes are not considered.

(2) “Prior Guidance” reflects Merit’s full-year 2026 financial guidance, previously introduced on April 30, 2026.

Year Ending % Change Year Ending % Change

Financial Measure December 31, 2026 Y/Y December 31, 2026 Y/Y

Total Revenue $1.631 - $1.643 billion 8% - 8% $1.612 - $1.634 billion 6% - 8%

Non-GAAP Earnings Per Share(1) $4.25 - $4.35 11% - 14% $4.01 - $4.15 5% - 8%

Updated Guidance Prior Guidance(2)

Low High Low High

2026 Net Sales Guidance - % Change from Prior Year (GAAP) 7.6% 8.4% 6.3% 7.8%

Estimated impact of foreign currency exchange rate fluctuations (0.8%) (0.8%) (0.8%) (0.8%)

2026 Net Sales Guidance - % Change from Prior Year (Constant Currency) 6.8% 7.6% 5.6% 7.0%

Updated Guidance Prior Guidance(1)

10

Appendix

11

Notes to Non-GAAP Financial Measures

For additional details, please see the accompanying press release and forward-looking statement disclosure.

These presentation materials and associated commentary from Merit’s management, as well as the press release issued today, use non-GAAP financial measures, including:

• constant currency revenue;

• constant currency revenue, organic;

• non-GAAP gross profit and margin;

• non-GAAP operating income and margin;

• non-GAAP net income;

• non-GAAP earnings per share; and

• free cash flow.

Merit’s management team uses these non-GAAP financial measures to evaluate Merit’s profitability and efficiency, to compare operating and financial results to prior periods, to

evaluate changes in the results of its operating segments, and to measure and allocate financial resources internally. However, Merit’s management does not consider such non-GAAP

measures in isolation or as an alternative to measures determined in accordance with GAAP.

Readers should consider non-GAAP measures used in this presentation in addition to, not as a substitute for, financial reporting measures prepared in accordance with GAAP. These

non-GAAP financial measures generally exclude some, but not all, items that may affect Merit’s net income. In addition, they are subject to inherent limitations as they reflect the

exercise of judgment by management about which items are excluded. Merit believes it is useful to exclude such items in the calculation of non-GAAP gross profit and margin, non-GAAP operating income and margin, non-GAAP net income, and non-GAAP earnings per share (in each case, as further illustrated in the reconciliation tables below) because such

amounts in any specific period may not directly correlate to the underlying performance of Merit’s business operations and can vary significantly between periods as a result of

factors such as acquisition or other extraordinary transactions, non-cash expenses related to amortization or write-off of previously acquired tangible and intangible assets, certain

employee termination benefits, expenses resulting from non-ordinary course litigation or administrative proceedings and resulting settlements, governmental proceedings or changes

in tax or industry regulations, gains or losses on disposal of certain assets, equity method investment loss (income) from equity investees, and debt issuance costs. Merit may incur

similar types of expenses in the future, and the non-GAAP financial information included in this presentation should not be viewed as a statement or indication that these types of

expenses will not recur. Additionally, the non-GAAP financial measures used in this presentation may not be comparable with similarly titled measures of other companies. Merit

urges readers to review the reconciliations of its non-GAAP financial measures to their most directly comparable GAAP financial measures included herein, and not to rely on any

single financial measure to evaluate Merit’s business or results of operations.

12

Notes to Non-GAAP Financial Measures (cont.)

Constant Currency Revenue

Merit’s constant currency revenue is prepared by converting the current-period reported revenue of subsidiaries whose functional currency is a currency other than the U.S. dollar at

the applicable foreign exchange rates in effect during the comparable prior-year period and adjusting for the effects of hedging transactions on reported revenue, which are recorded

in the U.S. dollar. The constant currency revenue adjustment of $(3.0) million and $(10.9) million to reported revenue for the three and six-month periods ended June 30, 2026 was

calculated using the applicable average foreign exchange rates for the three and six-month periods ended June 30, 2025.

Constant Currency Revenue, Organic

Merit’s constant currency revenue, organic, is defined, with respect to prior fiscal year periods, as GAAP revenue less revenue from certain divestitures. For the three and six-month

periods ended June 30, 2025, Merit’s constant currency revenue, organic, excludes revenues attributable to the DualCap Divestiture.

With respect to current fiscal year periods, constant currency revenue, organic, is defined as constant currency revenue (as defined above), less revenue from certain acquisitions and

divestitures. For the three and six-month periods ended June 30, 2026, Merit’s constant currency revenue, organic, excludes revenues attributable to products acquired in connection

with (i) the View Point Merger, (ii) the C2 Acquisition and (iii) the Biolife Merger. For the six-month period ended June 30, 2026, Merit’s constant currency revenue, organic,

excludes revenues attributable to the DualCap Divestiture.

Non-GAAP Gross Profit and Margin

Non-GAAP gross profit is calculated by reducing GAAP cost of sales by amounts recorded for amortization of intangible assets and inventory mark-up related to acquisitions. Non-GAAP gross margin is calculated by dividing non-GAAP gross profit by reported net sales.

Non-GAAP Operating Income and Margin

Non-GAAP operating income is calculated by adjusting GAAP operating income for certain items which are deemed by Merit’s management to be outside of core operations and

vary in amount and frequency among periods, such as expenses related to acquisitions or other extraordinary transactions, non-cash expenses related to amortization or write-off of

previously acquired tangible and intangible assets, certain employee termination benefits, performance-based stock compensation expenses, expenses resulting from non-ordinary

course litigation or administrative proceedings and resulting settlements, governmental proceedings, and changes in governmental or industry regulations, as well as other items

referenced in the tables below. Non-GAAP operating margin is calculated by dividing non-GAAP operating income by reported net sales.

13

Notes to Non-GAAP Financial Measures (cont.)

Non-GAAP Net Income

Non-GAAP net income is calculated by adjusting GAAP net income for the items set forth in the definition of non-GAAP operating income above, as well as for expenses related to

our long-term debt, gains or losses on disposal of certain assets, equity method investment loss (income) from equity investees, and other items set forth in the tables below.

Non-GAAP EPS

Non-GAAP EPS is defined as non-GAAP net income divided by the diluted shares outstanding for the corresponding period.

Free Cash Flow

Free cash flow is defined as cash flow from operations calculated in accordance with GAAP, less capital expenditures for property and equipment calculated in accordance with

GAAP, as set forth in the consolidated statement of cash flows.

Other Non-GAAP Financial Measure Reconciliations

The following tables set forth supplemental financial data and corresponding reconciliations of non-GAAP financial measures to Merit’s corresponding financial measures prepared

in accordance with GAAP, in each case, for the three and six-month periods ended June 30, 2026 and 2025. The non-GAAP income adjustments referenced in the following tables do

not reflect non-performance-based stock compensation expense of $6.3 million and $5.0 million for the three-month periods ended June 30, 2026 and 2025, respectively, and $9.5

million and $9.3 million for the six-month periods ended June 30, 2026 and 2025, respectively.

14

Reconciliation of GAAP Net Income to Non-GAAP Net Income

(Unaudited; in thousands except per share amounts)

Note: Certain per-share impacts may not sum to totals due to rounding.

GAAP net income $ 51,314 $ (12,511) $ 38,803 $ 0.65 $ 43,379 $ (10,798) $ 32,581 $ 0.54 Non-GAAP adjustments: Cost of Sales

Amortization of intangibles 18,718 (4,419) 14,299 0.24 18,980 (4,485) 14,495 0.24 Inventory mark-up related to acquisitions — — — — 67 (16) 51 0.00 Operating Expenses

Contingent consideration expense 145 (33) 112 0.00 143 25 168 0.00 Amortization of intangibles 2,496 (589) 1,907 0.03 2,543 (601) 1,942 0.03 Performance-based share-based compensation (a) 6,621 (756) 5,865 0.10 5,879 (345) 5,534 0.09 Corporate restructuring (b) 2,159 (510) 1,649 0.03 2,587 (611) 1,976 0.03 Acquisition-related 2,568 (194) 2,374 0.04 2,140 (14) 2,126 0.04 Medical Device Regulation expenses (c) 1,452 (342) 1,110 0.02 1,634 (385) 1,249 0.02 Other (d) — — — — 50 (12) 38 0.00 Other (Income) Expense

Long-term debt costs (e) 6,477 (1,529) 4,948 0.08 1,414 (334) 1,080 0.02 Gain on disposal of business unit — — — — (249) — (249) (0.00) Other non-operating loss (f) 294 (82) 212 0.00 — — — — Non-GAAP net income $ 92,244 $ (20,965) $ 71,279 $ 1.19 $ 78,567 $ (17,576) $ 60,991 $ 1.01 Diluted shares 60,006 60,611

Pre-Tax Tax Impact After-Tax Per Share Impact Pre-Tax Tax Impact After-Tax Per Share Impact

Three Months Ended Three Months Ended

June 30, 2026 June 30, 2025

15

Reconciliation of GAAP Net Income to Non-GAAP Net Income

(Unaudited; in thousands except per share amounts)

Note: Certain per-share impacts may not sum to totals due to rounding.

GAAP net income $ 104,860 $ (25,062) $ 79,798 $ 1.33 $ 81,337 $ (18,609) $ 62,728 $ 1.03 Non-GAAP adjustments: Cost of Sales

Amortization of intangibles 36,945 (8,722) 28,223 0.47 36,586 (8,645) 27,941 0.46 Inventory mark-up related to acquisitions — — — — 67 (16) 51 0.00 Operating Expenses

Contingent consideration (benefit) expense (34) 5 (29) (0.00) 1,166 34 1,200 0.02 Amortization of intangibles 4,950 (1,168) 3,782 0.06 4,937 (1,167) 3,770 0.06 Performance-based share-based compensation (a) 12,429 (1,062) 11,367 0.19 10,653 (931) 9,722 0.16 Corporate restructuring (b) 2,159 (510) 1,649 0.03 2,587 (611) 1,976 0.03 Acquisition-related 6,811 (905) 5,906 0.10 2,156 (18) 2,138 0.04 Medical Device Regulation expenses (c) 2,070 (488) 1,582 0.03 3,228 (762) 2,466 0.04 Other (d) — — — — 29 (7) 22 0.00 Other (Income) Expense

Long-term debt costs (e) 7,891 (1,863) 6,028 0.10 2,828 (668) 2,160 0.04 Gain on disposal of business unit (12,502) 1,520 (10,982) (0.18) (249) — (249) (0.00) Other non-operating loss (f) 825 (207) 618 0.01 — — — — Non-GAAP net income $ 166,404 $ (38,462) $ 127,942 $ 2.13 $ 145,325 $ (31,400) $ 113,925 $ 1.87 Diluted shares 60,010 60,945

Pre-Tax Tax Impact After-Tax Per Share Impact Pre-Tax Tax Impact After-Tax Per Share Impact

Six Months Ended Six Months Ended

June 30, 2026 June 30, 2025

16

Reconciliation of GAAP Operating Income to Non-GAAP Operating Income

(Unaudited; in thousands except percentages)

Note: Certain percentages may not sum to totals due to rounding.

Net Sales as Reported $ 418,843 $ 382,462 $ 800,720 $ 737,813

GAAP Operating Income 60,403 14.4 % 46,880 12.3 % 104,560 13.1 % 87,913 11.9 %

Cost of Sales

Amortization of intangibles 18,718 4.5 % 18,980 5.0 % 36,945 4.6 % 36,586 5.0 %

Inventory mark-up related to acquisitions — — 67 0.0 % — — 67 0.0 %

Operating Expenses

Contingent consideration expense (benefit) 145 0.0 % 143 0.0 % (34) (0.0) % 1,166 0.2 %

Amortization of intangibles 2,496 0.6 % 2,543 0.7 % 4,950 0.6 % 4,937 0.7 %

Performance-based share-based compensation (a) 6,621 1.6 % 5,879 1.5 % 12,429 1.6 % 10,653 1.4 %

Corporate restructuring (b) 2,159 0.5 % 2,587 0.7 % 2,159 0.3 % 2,587 0.4 %

Acquisition-related 2,568 0.6 % 2,140 0.6 % 6,811 0.9 % 2,156 0.3 %

Medical Device Regulation expenses (c) 1,452 0.3 % 1,634 0.4 % 2,070 0.3 % 3,228 0.4 %

Other (d) — — 50 0.0 % — — 29 0.0 %

Non-GAAP Operating Income $ 94,562 22.6 % $ 80,903 21.2 % $ 169,890 21.2 % $ 149,322 20.2 %

Amounts % Sales Amounts % Sales Amounts % Sales Amounts % Sales

Three Months Ended Three Months Ended Six Months Ended Six Months Ended

June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025

17

Footnotes to Reconciliations of GAAP Net Income to Non-GAAP Net Income and

GAAP Operating Income to Non-GAAP Operating Income

a) Represents performance-based share-based compensation expense, including stock-settled and cash-settled awards.

b) Includes employee termination benefits associated with activities related to corporate restructuring initiatives and costs to

terminate certain distribution contracts from our Biolife Merger.

c) Represents incremental expenses incurred to comply with the E.U. Medical Device Regulation.

d) Represents costs to comply with Merit’s corporate integrity agreement with the U.S. Department of Justice.

e) Represents costs associated with our Convertible Notes including the amortization of debt issuance costs and a one-time charge

for additional interest incurred pursuant to Merit's obligation to remove restrictive legends.

f) Includes equity method investment loss from equity investees.

18

Reconciliation of Reported Revenue to Constant Currency Revenue (Non-GAAP), and Constant

Currency Revenue, Organic (Non-GAAP)

(Unaudited; in thousands except percentages)

(a) A non-GAAP financial measure. For a definition of this and other non-GAAP financial measures, see the section of this presentation entitled “Notes to

Non-GAAP Financial Measures.”

(b) On February 17, 2026, Merit sold certain assets relating to the DualCap product line to Health Line for $28 million, of which $25.5 million was paid to

Merit at closing.

% Change % Change

Reported Revenue 9.5 % $ 418,843 $ 382,462 8.5 % $ 800,720 $ 737,813 Add: Impact of foreign exchange (2,987) — (10,923) — Constant Currency Revenue (a) 8.7 % $ 415,856 $ 382,462 7.0 % $ 789,797 $ 737,813 Less: Revenue from certain acquisitions — (4,660) (13,704) — Less: Revenue from divestitures (b) (5,296) — (1,644) (10,212) Constant Currency Revenue, Organic (a) 9.0 % $ 411,196 $ 377,166 6.4 % $ 774,449 $ 727,601

Three Months Ended Six Months Ended

June 30, June 30,

2026 2025 2026 2025

19

Reconciliation of GAAP Gross Margin to Non-GAAP Gross Margin

(Unaudited; as a percentage of reported revenue)

Note: Certain percentages may not sum to totals due to rounding.

2026 2025 2026 2025

Reported Gross Margin 51.4 % 48.2 % 50.0 % 48.3 %

Add back impact of: Amortization of intangibles 4.5 % 5.0 % 4.6 % 5.0 %

Inventory mark-up related to acquisitions — % 0.0 % — % 0.0 %

Non-GAAP Gross Margin % 53.2 55.8 % 54.6 % 53.3 %

June 30,

Three Months Ended Six Months Ended

June 30,

20

Reconciliation of Reported Cash Flow from Operations to Free Cash Flow

(Unaudited; in thousands)

Reported Cash Flow from Operations $ 109,957 $ 123,879 Less: Capital Expenditures (34,812) (33,340) Free Cash Flow $ 76,617 $ 89,067 Six Months Ended

June 30,

2026 2025

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Document and Entity Information

Jul. 30, 2026

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MERIT MEDICAL SYSTEMS INC

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UT

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1600 West Merit Parkway

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South Jordan

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UT

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