Merit Medical Systems Inc 2025年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 OR TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES For the transition period fromto. MERIT MEDICAL SYSTEMS,INC.(Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 1600 West Merit Parkway,South Jordan,Utah84095(Address of principal executive offices, including zip code)Registrant’s telephone number, including area code:(801)253-1600 Name of exchange on which registeredNASDAQGlobal Select Market Trading SymbolMMSI Title of each classCommon Stock, no par value Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or15(d)of the Securities Exchange Act of 1934 during the preceding 12months (or for such shorter period that theregistrant was required to file such reports) and (2)has been subject to filing requirements for the past 90days. Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required tobe submitted pursuant to Rule405 of Regulation S-T during the preceding 12months (or for such shorter period Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-acceleratedfiler, a smaller reporting company or an emerging growth company.See the definitions of “large acceleratedfiler,” “accelerated filer,” “smaller reporting company” and "emerging growth company" in Rule12b-2 of the Large AcceleratedFiler☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Indicate the number of shares outstanding of each of the Registrant’s classes of common stock, as of the latestpracticable date. 59,099,536Shares outstanding as of April 22, 2025 Common Stock, no par valueTitle or class TABLE OF CONTENTS PART I.FINANCIAL INFORMATIONItem 1.Financial Statements (Unaudited)Consolidated Balance SheetsConsolidated Statements of IncomeConsolidated Statements of Comprehensive IncomeConsolidated Statements of Stockholders’ EquityConsolidated Statements of Cash FlowsCondensed Notes to Consolidated Financial StatementsItem 2.Management’s Discussion and Analysis of Financial Condition and Resultsof OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and ProceduresPART II.OTHER INFORMATIONItem 1.Legal ProceedingsItem 1A.Risk FactorsItem5.Other informationItem 6.ExhibitsSIGNATURES PARTI- FINANCIAL INFORMATION MERIT MEDICAL SYSTEMS,INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS MERIT MEDICAL SYSTEMS,INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF INCOME MERIT MEDICAL SYSTEMS,INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME MERIT MEDICAL SYSTEMS,INC.CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY MERIT MEDICAL SYSTEMS,INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS MERIT MEDICAL SYSTEMS,INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS March31,20252024CASH FLOWS FROM FINANCING ACTIVITIES:Proceeds from issuance of common stock$13,152$7,730Payments on long-term debt—(24,063)Contingent payments related to acquisitions(52)(78)Payment of taxes related to an exchange of common stock(6,145)(1,592)Net cash, cash equivalents, and restricted cash provided by (used in)financing activities6,955(18,003)Effect of exchange rates on cash, cash equivalents, and restricted cash936(1,319)Net increase (decrease) in cash, cash equivalents and restricted cash18,828(5,157) MERIT MEDICAL SYSTEMS,INC. AND SUBSIDIARIESCONDENSED NOTESTO CONSOLIDATED FINANCIAL STATEMENTS 1.Basis of Presentation and Other Items.The interim consolidated financial statements of MeritMedical Systems, Inc. ("Merit," "we" or "us") for the three-month periods ended March31,2025 and2024 are not audited. Our consolidated financial statements are prepared in accordance with therequirements for unaudited interim periods and, consequently, do not include all disclosures requiredto be made in conformity with accounting principles generally accepted in the United States ofAmerica. In the opinion of our management, the accompanying consolidated financial statementscontain all adjustments, consisting of normal recurring accruals, necessary for a fair presentation ofour financial position as of March31,2025 and December31,2024, and our results of operations andcash flows for the three-month periods ended March31,2025 and 2024. The results of operations for We elected to change the presentation of investments in privately held companies within thestatements of cash flows to be included withinCash paid for notes receivable and other investments.Previously,amounts paid to acquire such investments were presented within C