$MMSI
MERIT MEDICAL SYSTEMS INC

2024 Q2 Form 10-Q Financial Statement

#000085698224000037 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $338.0M $323.5M
YoY Change 5.61% 8.72%
Cost Of Revenue $176.9M $171.8M
YoY Change 5.76% 7.91%
Gross Profit $161.1M $151.7M
YoY Change 5.44% 9.65%
Gross Profit Margin 47.66% 46.9%
Selling, General & Admin $94.59M $94.43M
YoY Change -6.28% 4.75%
% of Gross Profit 58.71% 62.24%
Research & Development $20.26M $21.48M
YoY Change -6.53% 0.79%
% of Gross Profit 12.58% 14.16%
Depreciation & Amortization $24.09M $23.60M
YoY Change 10.62% 14.91%
% of Gross Profit 14.95% 15.55%
Operating Expenses $115.2M $115.8M
YoY Change -6.91% 3.41%
Operating Profit $45.95M $35.92M
YoY Change 57.99% 36.16%
Interest Expense -$118.0K $8.046M
YoY Change -96.59% 300.1%
% of Operating Profit -0.26% 22.4%
Other Income/Expense, Net -$103.0K -$1.574M
YoY Change -77.16% 78.26%
Pretax Income $45.84M $34.35M
YoY Change 84.11% 34.7%
Income Tax $10.12M $6.108M
% Of Pretax Income 22.07% 17.78%
Net Earnings $35.73M $28.24M
YoY Change 76.47% 36.41%
Net Earnings / Revenue 10.57% 8.73%
Basic Earnings Per Share $0.61 $0.49
Diluted Earnings Per Share $0.61 $0.48
COMMON SHARES
Basic Shares Outstanding 58.11M 57.93M
Diluted Shares Outstanding 58.74M 58.57M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $636.7M $581.9M
YoY Change 783.22% 904.26%
Cash & Equivalents $636.7M $581.9M
Short-Term Investments
Other Short-Term Assets $30.30M $28.53M
YoY Change 4.88% 19.45%
Inventory $298.2M $302.7M
Prepaid Expenses
Receivables $182.4M $180.7M
Other Receivables $14.95M $11.43M
Total Short-Term Assets $1.163B $1.105B
YoY Change 95.42% 98.36%
LONG-TERM ASSETS
Property, Plant & Equipment $385.9M $383.7M
YoY Change -13.62% -0.98%
Goodwill $381.4M $381.5M
YoY Change -0.09% 5.9%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $61.58M $58.68M
YoY Change 4.41% 28.35%
Total Long-Term Assets $1.209B $1.221B
YoY Change -2.69% 8.36%
TOTAL ASSETS
Total Short-Term Assets $1.163B $1.105B
Total Long-Term Assets $1.209B $1.221B
Total Assets $2.372B $2.326B
YoY Change 29.07% 38.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $55.57M $48.38M
YoY Change -10.02% -26.24%
Accrued Expenses $117.6M $113.2M
YoY Change -3.78% -5.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $186.2M $183.3M
YoY Change -1.99% -15.1%
LONG-TERM LIABILITIES
Long-Term Debt $801.3M $800.1M
YoY Change 139.03% 329.2%
Other Long-Term Liabilities $15.91M $14.96M
YoY Change -82.35% 7.6%
Total Long-Term Liabilities $817.2M $815.1M
YoY Change 92.11% 306.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $186.2M $183.3M
Total Long-Term Liabilities $817.2M $815.1M
Total Liabilities $1.089B $1.086B
YoY Change 71.86% 111.95%
SHAREHOLDERS EQUITY
Retained Earnings $639.2M $603.4M
YoY Change 22.51% 20.33%
Common Stock $658.7M $649.2M
YoY Change -4.74% -4.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.282B $1.240B
YoY Change
Total Liabilities & Shareholders Equity $2.372B $2.326B
YoY Change 29.07% 38.14%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $35.73M $28.24M
YoY Change 76.47% 36.41%
Depreciation, Depletion And Amortization $24.09M $23.60M
YoY Change 10.62% 14.91%
Cash From Operating Activities $68.51M $36.22M
YoY Change 296.31% 148.99%
INVESTING ACTIVITIES
Capital Expenditures $11.34M $11.68M
YoY Change 96.53% -8.63%
Acquisitions $3.346M
YoY Change 67.3%
Other Investing Activities -$5.145M -$9.508M
YoY Change -96.25% 359.1%
Cash From Investing Activities -$16.49M -$22.05M
YoY Change -88.46% 48.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.137M -18.00M
YoY Change -97.78% 3522.33%
NET CHANGE
Cash From Operating Activities 68.51M 36.22M
Cash From Investing Activities -16.49M -22.05M
Cash From Financing Activities 3.137M -18.00M
Net Change In Cash 55.16M -5.157M
YoY Change 246.96% 1093.75%
FREE CASH FLOW
Cash From Operating Activities $68.51M $36.22M
Capital Expenditures $11.34M $11.68M
Free Cash Flow $57.16M $24.53M
YoY Change 396.43% 1293.98%

Facts In Submission

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