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Merit Medical Systems Is Not Just Buying Growth — Organic Momentum Hits A Three-Year High!

Merit Medical Systems reported second quarter fiscal 2026 revenue of $418.8 million, reflecting a 10% increase on a GAAP basis and 9% growth on a constant currency basis year-over-year. This growth surpassed the high end of the company’s prior guidance and was driven primarily by strong organic growth of 9%, the strongest quarterly organic increase in three years, alongside contributions from recent acquisitions including Biolife and the C2 CryoBalloon device. Geographically, revenue growth was led by a 12% increase in U.S. sales and a 5% rise internationally. By product category, Foundational products grew 6% while Therapeutic products increased 14%, with balanced contributions from Vascular interventions, Access platforms, Cardiac therapies, Endoscopy, and Oncology. Profitability also improved, with non-GAAP operating margin expanding 142 basis points to 22.6%, assisted by tariff refund benefits. Excluding these refunds, margins and earnings per share (EPS) still exceeded guidance, with non-GAAP EPS rising 18% year-over-year to $1.