Filing Flows › Merit Medical Systems (MMSI) › Q2 2026
Merit Medical Systems (MMSI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 30, 2026
Merit Medical Systems (MMSI) reported revenue of $419M for the second quarter 2026 (Q2 2026), +10% from a year earlier and +10% from the quarter before. Operating margin was 14.4%, net earnings $38.8M (9.3% of revenue).
Merit Medical Systems, Q2 2026: revenue $419M (+10% year over year), operating margin 14.4%, net earnings $38.8M, operating cash flow $69.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $419M | +10% | +10% |
| Gross profit | $215M | +16% | +17% |
| Operating profit | $60.4M | +37% | +29% |
| Net earnings | $38.8M | -5% | +19% |
| Operating cash flow | $69.3M | +70% | -17% |
| Free cash flow | $51.9M | +111% | -25% |
What changed
Revenue was $418.8M in Q2 2026, up 10% year over year and up 10% from the previous quarter. Access was the largest line at 39% of revenue. Access added $9.7M year over year (up 6%), 27% of the total change. Procedural Solutions declined 12%.
Gross margin was 51.4%, up 3.1 points from Q2 2025. Operating profit was $60.4M, a 14.4% margin (up 2.2 points year over year). Of the extra revenue versus Q2 2025, 37% reached operating profit, above the 12% margin then. Operating expenses grew 12% against revenue growth of 10%. The fastest-growing cost line was SG&A (+14%). Net earnings were $38.8M, up 19% year over year. The effective tax rate was 24.4%.
Operating cash flow was $69.3M (down 17% year over year), 179% of net earnings. Non-cash charges added back $31.0M of depreciation and amortization and $12.9M of share-based compensation. Working capital and other items used $13.4M. Capital expenditures of $17.3M left free cash flow of $51.9M.
Questions
What was Merit Medical Systems' revenue in the second quarter 2026?
Merit Medical Systems (MMSI) reported revenue of $419M for the second quarter 2026 (Q2 2026), +10% from a year earlier and +10% from the quarter before.
Was Merit Medical Systems profitable in the second quarter 2026?
Operating profit was $60.4M (14.4% of revenue) and net earnings $38.8M.