$MMSI
MERIT MEDICAL SYSTEMS INC

2023 Q2 Form 10-Q Financial Statement

#000085698223000023 Filed on April 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $320.1M $297.6M
YoY Change 8.5% 8.04%
Cost Of Revenue $167.3M $159.2M
YoY Change 4.61% 3.04%
Gross Profit $152.8M $138.4M
YoY Change 13.12% 14.44%
Gross Profit Margin 47.74% 46.5%
Selling, General & Admin $100.9M $90.14M
YoY Change 18.06% 7.3%
% of Gross Profit 66.06% 65.15%
Research & Development $21.68M $21.31M
YoY Change 17.4% 22.59%
% of Gross Profit 14.19% 15.4%
Depreciation & Amortization $21.78M $20.54M
YoY Change 6.57% 0.35%
% of Gross Profit 14.25% 14.84%
Operating Expenses $123.7M $112.0M
YoY Change 10.63% 5.97%
Operating Profit $29.08M $26.38M
YoY Change 25.05% 73.2%
Interest Expense -$3.461M $2.011M
YoY Change -356.75% 100.7%
% of Operating Profit -11.9% 7.62%
Other Income/Expense, Net -$451.0K -$883.0K
YoY Change -82.35% -16.85%
Pretax Income $24.90M $25.50M
YoY Change 20.28% 79.94%
Income Tax $4.655M $4.797M
% Of Pretax Income 18.69% 18.81%
Net Earnings $20.25M $20.70M
YoY Change 32.34% 96.33%
Net Earnings / Revenue 6.33% 6.96%
Basic Earnings Per Share $0.35 $0.36
Diluted Earnings Per Share $0.35 $0.36
COMMON SHARES
Basic Shares Outstanding 57.49M 57.32M
Diluted Shares Outstanding 58.47M 58.18M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $72.08M $57.95M
YoY Change 14.41% 7.55%
Cash & Equivalents $72.08M $57.95M
Short-Term Investments
Other Short-Term Assets $28.89M $23.88M
YoY Change 8.69% 2.25%
Inventory $305.9M $289.6M
Prepaid Expenses
Receivables $171.0M $170.2M
Other Receivables $17.00M $15.63M
Total Short-Term Assets $594.9M $557.2M
YoY Change 20.76% 16.55%
LONG-TERM ASSETS
Property, Plant & Equipment $446.8M $387.5M
YoY Change 20.28% 4.18%
Goodwill $381.8M $360.3M
YoY Change 6.14% -0.32%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $58.98M $45.72M
YoY Change 36.21% 9.62%
Total Long-Term Assets $1.243B $1.127B
YoY Change 9.11% -2.15%
TOTAL ASSETS
Total Short-Term Assets $594.9M $557.2M
Total Long-Term Assets $1.243B $1.127B
Total Assets $1.838B $1.684B
YoY Change 12.63% 3.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $61.76M $65.59M
YoY Change 3.9% 12.89%
Accrued Expenses $122.2M $119.2M
YoY Change 9.14% -2.61%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.750M $11.25M
YoY Change -63.64% 20.0%
Total Short-Term Liabilities $190.0M $216.0M
YoY Change -2.86% 5.95%
LONG-TERM LIABILITIES
Long-Term Debt $335.2M $186.4M
YoY Change 42.23% -23.32%
Other Long-Term Liabilities $90.16M $13.90M
YoY Change 415.91% -4.47%
Total Long-Term Liabilities $425.4M $200.3M
YoY Change 68.02% -22.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $190.0M $216.0M
Total Long-Term Liabilities $425.4M $200.3M
Total Liabilities $633.9M $512.5M
YoY Change 13.55% -10.6%
SHAREHOLDERS EQUITY
Retained Earnings $521.7M $501.5M
YoY Change 20.74% 20.32%
Common Stock $691.5M $681.1M
YoY Change 6.07% 5.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.204B $1.172B
YoY Change
Total Liabilities & Shareholders Equity $1.838B $1.684B
YoY Change 12.63% 3.34%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $20.25M $20.70M
YoY Change 32.34% 96.33%
Depreciation, Depletion And Amortization $21.78M $20.54M
YoY Change 6.57% 0.35%
Cash From Operating Activities $17.29M $14.55M
YoY Change -55.43% 21.11%
INVESTING ACTIVITIES
Capital Expenditures $5.771M $12.79M
YoY Change -179.74% 34.21%
Acquisitions $2.000M
YoY Change
Other Investing Activities -$137.1M -$2.071M
YoY Change 2113.82% 505.56%
Cash From Investing Activities -$142.9M -$14.86M
YoY Change 963.92% 50.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $50.05M
YoY Change -29.4%
Cash From Financing Activities 141.5M -497.0K
YoY Change -1171.69% -96.51%
NET CHANGE
Cash From Operating Activities 17.29M 14.55M
Cash From Investing Activities -142.9M -14.86M
Cash From Financing Activities 141.5M -497.0K
Net Change In Cash 15.90M -432.0K
YoY Change 30.85% -96.4%
FREE CASH FLOW
Cash From Operating Activities $17.29M $14.55M
Capital Expenditures $5.771M $12.79M
Free Cash Flow $11.52M $1.760M
YoY Change -74.98% -29.15%

Facts In Submission

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