Filing Flows › Merit Medical Systems (MMSI) › Q3 2026 › vs Q2 2026
Merit Medical Systems (MMSI) Q3 2026 vs Q2 2026 (quarter over quarter)
Merit Medical Systems's revenue fell $2.6M (-0.6%) from $419M in Q2 2026 to $416M in Q3 2026. The biggest changes: Foundational −$2.9M (-1%); Therapeutic +$335K (+0.2%). Gross margin 48.2% against 51.4% (-3.2 pts).
Merit Medical Systems, Q3 2026: revenue $416M (+8% year over year), operating margin 14.1%, net earnings $42.3M, operating cash flow $65.3M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 48.2% | 51.4% | -3.2 pts |
| Operating margin | 14.1% | 14.4% | -0.3 pts |
| Net margin | 10.2% | 9.3% | +0.9 pts |
| Free cash flow margin | 12.7% | 12.4% | +0.3 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Access | $158M | $162M | −$3.9M | -2% |
| OEM | $46.3M | $48.3M | −$2.1M | -4% |
| Vascular Intervention | $42.4M | $41.7M | $715K | +2% |
| Vascular Intervention | $35.8M | $34.4M | $1.4M | +4% |
| Cardiac Therapies | $27.5M | $28.5M | −$963K | -3% |
| Procedural Solutions | $27.2M | $27.9M | −$787K | -3% |
| Oncology | $27.1M | $25.8M | $1.3M | +5% |
| Endoscopy | $23.4M | $23.6M | −$219K | -0.9% |
| Renal Therapies | $13.6M | $12.7M | $837K | +7% |
| OEM | $13.1M | $12.8M | $292K | +2% |
| Other | $2.0M | $1.2M | $770K | +62% |
| Foundational | $276M | $278M | −$2.9M | -1% |
| Therapeutic | $141M | $140M | $335K | +0.2% |
| Revenue | $416M | $419M | −$2.6M | -0.6% |
| Gross profit | $201M | $215M | −$14.5M | -7% |
| Cost of revenue | $216M | $204M | $11.9M | +6% |
| Operating profit | $58.8M | $60.4M | −$1.6M | -3% |
| Operating expenses | $142M | $155M | −$12.9M | -8% |
| Pre-tax earnings | $55.8M | $51.3M | $4.5M | +9% |
| Other expense, net | $3.0M | $9.1M | −$6.1M | -67% |
| Research & development | $22.4M | $25.4M | −$3.0M | -12% |
| SG&A | $120M | $129M | −$9.7M | -8% |
| Net earnings | $42.3M | $38.8M | $3.5M | +9% |
| Income tax | $13.5M | $12.5M | $963K | +8% |
| Depreciation & amortization | $31.9M | $31.0M | $900K | +3% |
| Share-based compensation | $13.6M | $12.9M | $706K | +5% |
| Working capital & other | $22.6M | $13.4M | $9.1M | +68% |
| Operating cash flow | $65.3M | $69.3M | −$4.0M | -6% |
| Free cash flow (OCF − capex) | $52.9M | $51.9M | $982K | +2% |
| Capital expenditures | $12.3M | $17.3M | −$5.0M | -29% |
Questions
How much did Merit Medical Systems's revenue grow quarter over quarter in Q3 2026?
Merit Medical Systems's revenue fell $2.6M (-0.6%) from $419M in Q2 2026 to $416M in Q3 2026.
What drove Merit Medical Systems's revenue change in Q3 2026?
Foundational −$2.9M (-1%); Therapeutic +$335K (+0.2%).