Merit Medical Q1 Revenue Up 7%, GAAP EPS Jumps 39% and Acquires OneMark for $140M
MMSI•Merit Medical reported Q1 revenue of $381.9 million, up 7% year-over-year (5% constant currency, 3% organic), with GAAP EPS of $0.68 (+39%) and non-GAAP EPS of $0.94 (+9%), lifting non-GAAP operating margin to 19.7%. It sold DualCap assets for $28M and bought View Point Medical’s OneMark system for $140M.
1. Financial Performance
Merit Medical delivered Q1 2026 revenue of $381.9 million, up 7% year-over-year (5% constant currency, 3% organic), generating GAAP net income of $41.0 million, or $0.68 per share (+39%), and non-GAAP net income of $56.7 million, or $0.94 per share (+9%). Non-GAAP operating margin improved to 19.7% from 19.3% and free cash flow rose 26% to $24.7 million.
2. Strategic Transactions
On February 17, Merit sold its DualCap product line assets for $28 million, receiving $25.5 million in cash at closing. On April 1, the company acquired View Point Medical’s OneMark Detection Imaging System and OneMark Tissue Markers for $140 million, funding $90 million in cash at closing to expand its therapeutic oncology portfolio.
3. Segment Performance and Guidance
Merit reorganized revenue into Foundational and Therapeutic categories, with Foundational sales of $255.5 million (+6%) and Therapeutic sales of $126.4 million (+10%) in Q1. The company held $488.1 million in cash against $747.5 million in debt and maintained full-year 2026 guidance of $1.612–1.634 billion in revenue and $4.01–$4.15 in non-GAAP EPS.
