Fourth Quarter Highlights† Reported revenue of $393.9 million, up 11%Constant currency revenue* and constant currency revenue, organic* up 10% and up 7%, respectivelyGAAP operating margin of 13.8%, compared to 10.3% in prior year periodNon-GAAP operating margin* of 21.0%, compared to 19.6% in prior year periodGAAP EPS $0.63, up 37%Non-GAAP EPS* $1.04, up 12%Free cash flow* generation of $74.0 million, up 13% Fiscal Year 2025 Highlights† Reported revenue of $1.516 billion, up 12%Constant currency revenue* and constant currency revenue, organic* up 11% and up 7%, respectivelyGAAP operating margin of 12.2%, compared to 11.5% in prior yearNon-GAAP operating margin* of 20.3%, compared to 19.0% in prior yearGAAP EPS $2.13, up 5%Non-GAAP EPS* $3.83, up 11%Free cash flow* generation of $215.7 million, up 16% Fiscal Year 2026 Guidance Total revenue of $1.610 billion to $1.630 billion, up 6% – 8% year-over-year on a reported basis and up 5% – 7% year-over-year on a constant currency* basis.Non-GAAP EPS of $4.01 to $4.15, up 5% – 8% year-over-year. † Comparisons above are calculated for the current quarter compared with the fourth quarter of 2024 or for the current year compared with fiscal year 2024, as applicable, unless otherwise specified. Amounts stated in this release are rounded, while percentages are calculated from the underlying amounts. * Constant currency revenue; constant currency revenue, organic; non-GAAP gross profit and margin; non-GAAP operating income and margin; non-GAAP net income; non-GAAP EPS; and free cash flow figures (used here and below) are non-GAAP financial measures. A reconciliation of these financial measures to their most directly comparable GAAP financial measures is included under the heading “Non-GAAP Financial Measures” below. SOUTH JORDAN, Utah, Feb. 24, 2026 (GLOBE NEWSWIRE) — Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading global manufacturer and marketer of healthcare technology, today announced financial results for the three and twelve-month periods ended December 31, 2025. “Merit delivered better-than-expected revenue and financial results in the fourth quarter,” said Martha G. Aronson, Merit’s President and CEO. “Our fourth quarter capped off an impressive year of operating and financial performance in 2025; we delivered 6.8% organic, constant currency revenue growth, a 130 basis-point improvement year-over-year in our non-GAAP operating margin and generated strong free cash flow of more than $215 million, a 16% increase year-over-year. We are introducing 2026 revenue and non-GAAP earnings per share guidance which reflects confidence in our team’s ability to deliver continued strong execution, stable constant currency growth, improving profitability and solid free cash flow generation again this year. Importantly, the team remains laser focused on delivering the final year of our Continued Growth Initiatives Program and the related financial targets for the three-year period ending December 31, 2026.” Merit’s revenue by operating segment and product category for the three and twelve-month periods ended December 31, 2025 and 2024 was as follows (unaudited; in thousands, except for percentages):                      Three Months Ended  Reported    Constant Currency*  December 31,    Impact of foreign December 31,     2025 2024(1) % Change exchange 2025 % ChangeCardiovascular                  Peripheral Intervention $154,933 $135,235 15 % $(1,635) $153,298 13 %Cardiac Intervention  117,240  95,228 23 %  (1,883)  115,357 21 %Custom Procedural Solutions  53,621  50,923 5 %  (562)  53,059 4 %OEM  48,085  56,314 (15)%  (300)  47,785 (15)%Total  373,879  337,700 11 %  (4,380)  369,499 9 %                   Endoscopy                  Endoscopy Devices  20,057  17,458 15 %  (15)  20,042 15 %                   Total $393,936 $355,158 11 % $(4,395) $389,541 10 %                      Year Ended  Reported    Constant Currency *  December 31,    Impact of foreign December 31,     2025 2024(1) % Change exchange 2025 % ChangeCardiovascular                  Peripheral Intervention $579,840 $532,770 9% $(1,191) $578,649 9%Cardiac Intervention  448,914  368,951 22%  (2,213)  446,701 21%Custom Procedural Solutions  209,333  200,033 5%  (1,228)  208,105 4%OEM  204,955  199,990 2%  (521)  204,434 2%Total  1,443,042  1,301,744 11%  (5,153)  1,437,889 10%                   Endoscopy                  Endoscopy Devices  72,864  54,770 33%  (20)  72,844 33%                   Total $1,515,906 $1,356,514 12% $(5,173) $1,510,733 11%                     (1)   Commencing January 1, 2025, Merit reorganized its sales teams and product categories to include revenues from the sale of its spine devices under its OEM product category. Revenue figures for 2024 have been recast to reflect this realignment of its portfolio of spine products, representing approximately $5.9 million and $22.6 million in revenue for the three and twelve-month periods ended December 31, 2024, respectively, within the OEM product category to provide comparability between the reporting periods. Fourth Quarter 2025 Financial Summary: GAAP gross margin was 49.6%, compared to 48.7% for the fourth quarter of 2024. Non-GAAP gross margin* was 54.5%, compared to 53.5% for the fourth quarter of 2024. GAAP operating margin was 13.8%, compared to 10.3% for the fourth quarter of 2024. Non-GAAP operating margin* was 21.0%, compared to 19.6% for the fourth quarter of 2024. GAAP net income was $38.0 million, or $0.63 per share, compared to $27.9 million, or $0.46 per share, for the fourth quarter of 2024. Non-GAAP net income* was $62.5 million, or $1.04 per share, compared to $56.3 million, or $0.93 per share, for the fourth quarter of 2024. Fiscal Year 2025 Financial Summary: GAAP gross margin was 48.7%, compared to 47.4% for fiscal year 2024. Non-GAAP gross margin* was 53.7%, compared to 51.7% for fiscal year 2024. GAAP operating margin was 12.2%, compared to 11.5% for fiscal year 2024. Non-GAAP operating margin* was 20.3%, compared to 19.0% for fiscal year 2024. GAAP net income was $128.5 million, or $2.13 per share, compared to $120.4 million, or $2.03 per share, for fiscal year 2024. Non-GAAP net income* was $231.4 million, or $3.83 per share, compared to $205.4 million, or $3.46 per share, for fiscal year 2024. As of December 31, 2025, Merit had cash and cash equivalents of $446.4 million and total debt obligations of $747.5 million, compared to cash and cash equivalents of $376.7 million and total debt obligations of $747.5 million as of December 31, 2024. Merit had available borrowing capacity of approximately $697 million as of December 31, 2025. Fiscal Year 2026 Financial Guidance Based upon the information currently available to Merit’s management, for the twelve-months ending December 31, 2026, absent the potential impact of trade policies and related actions implemented by the U.S. and other countries subsequent to today’s date, material acquisitions, non-recurring transactions or other factors beyond Merit’s current expectations, Merit anticipates the following financial results: Revenue and Earnings Guidance*        Year EndedYear Ending% ChangeFinancial Measure December 31, 2025December 31, 2026Y/YTotal Revenue $1.516 billion$1.610 – $1.630 billion6% – 8%     Non-GAAP Earnings Per Share(1) $3.83$4.01 – $4.155% – 8%      *Percentage figures approximated; dollar figures may not foot due to rounding.(1) Merit’s non-GAAP earnings per share reflect the dilutive impact of its 3.00% Convertible Senior Notes due 2029 (the “Convertible Notes”) calculated using the if-converted method of approximately $0.07 per share for the year ending December 31, 2026. Any offsetting impacts of the capped call associated with the Convertible Notes are not considered. Merit does not provide guidance for GAAP reported financial measures (other than revenue) or a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP reported financial measures (other than revenue) because Merit is unable to predict with reasonable certainty the financial impact of various items which could impact Merit’s future financial results, such as expenses attributable to acquisitions or other extraordinary transactions, non-cash expenses related to amortization or write-off of previously acquired tangible and intangible assets, certain employee termination benefits, performance-based stock compensation expenses, expenses resulting from non-ordinary course litigation or administrative proceedings and resulting settlements, governmental proceedings, and changes in governmental or industry regulations. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, Merit is unable to address the significance of the unavailable information, which could be material to future results. Specifically, Merit is not, without unreasonable effort, able to reliably predict the impact of these items and Merit believes inclusion of a reconciliation of these forward-looking non-GAAP measures to their GAAP counterparts could be confusing to investors or cause undue reliance. Merit’s financial guidance for the year ending December 31, 2026 is subject to risks and uncertainties identified in this release and Merit’s filings with the U.S. Securities and Exchange Commission (the “SEC”). This guidance is based on information and estimates available to Merit as of February 24, 2026. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results will likely vary, and could vary materially, from past results and those anticipated, estimated or projected. CONFERENCE CALL As previously announced, Merit will hold its investor conference call today, Tuesday, February 24, 2026, at 4:30 p.m., Eastern Time, to discuss its results for the fourth quarter and year ended December 31, 2025 and provide an operational update. To access the conference call, please pre-register using the following link. Registrants will receive confirmation with dial-in details. A live webcast and slide deck will also be available at merit.com. CONSOLIDATED BALANCE SHEETS(in thousands)         December 31,     2025 December 31,  (Unaudited) 2024ASSETS      Current Assets      Cash and cash equivalents $446,404  $376,715 Trade receivables, net  203,710   190,243 Other receivables  17,773   16,588 Inventories  333,705   306,063 Prepaid expenses and other assets  31,493   28,544 Prepaid income taxes  4,941   3,286 Income tax refund receivables  2,128   2,335 Total current assets  1,040,154   923,774        Property and equipment, net  428,401   386,165 Intangible assets, net  537,654   498,265 Goodwill  506,837   463,511 Deferred income tax assets  7,049   16,044 Operating lease right-of-use assets  87,600   65,508 Other assets  78,227   65,336 Total Assets $2,685,922  $2,418,603        LIABILITIES AND STOCKHOLDERS’ EQUITY      Current Liabilities      Trade payables $60,551  $68,502 Accrued expenses  159,486   134,077 Current operating lease liabilities  10,876   10,331 Income taxes payable  8,851   3,492 Total current liabilities  239,764   216,402        Long-term debt  734,038   729,551 Deferred income tax liabilities  19,665   240 Liabilities related to unrecognized tax benefits  2,248   2,118 Deferred compensation payable  17,542   19,197 Deferred credits  1,398   1,502 Long-term operating lease liabilities  76,658   54,783 Other long-term obligations  10,306   15,451 Total liabilities  1,101,619   1,039,244        Stockholders’ Equity      Common stock  763,909   703,219 Retained earnings  824,030   695,541 Accumulated other comprehensive loss  (3,636)  (19,401)Total stockholders’ equity  1,584,303   1,379,359 Total Liabilities and Stockholders’ Equity $2,685,922  $2,418,603  CONSOLIDATED STATEMENTS OF INCOME(Unaudited, in thousands except per share amounts)               Three Months Ended Year Ended  December 31, December 31,  2025  2024  2025  2024 Net sales $393,936  $355,158  $1,515,906  $1,356,514 Cost of sales  198,584   182,175   777,636   713,181 Gross profit  195,352   172,983   738,270   643,333              Operating expenses:            Selling, general and administrative  114,830   111,074   455,214   399,731 Research and development  26,541   25,194   97,352   87,466 Contingent consideration (benefit) expense  (214)  151   984   443 Total operating expenses  141,157   136,419   553,550   487,640              Income from operations  54,195   36,564   184,720   155,693              Other income (expense):            Interest income  3,904   4,741   15,070   26,230 Interest expense  (6,364)  (7,993)  (26,461)  (31,219)Other expense — net  (675)  (167)  (2,392)  (711)Total other expense — net  (3,135)  (3,419)  (13,783)  (5,700)             Income before income taxes  51,060   33,145   170,937   149,993              Income tax expense  13,054   5,198   42,448   29,636              Net income $38,006  $27,947  $128,489  $120,357              Earnings per common share            Basic $0.64  $0.48  $2.17  $2.07 Diluted $0.63  $0.46  $2.13  $2.03              Weighted average shares outstanding            Basic  59,343   58,541   59,158   58,218 Diluted  60,026   60,613   60,460   59,365  CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited, in thousands)         Year Ended  December 31,  2025  2024 CASH FLOWS FROM OPERATING ACTIVITIES:    Net income $128,489  $120,357 Adjustments to reconcile net income to net cash provided by operating activities:      Depreciation and amortization  123,168   102,709 Gain on disposition of a business  (249)  — Write-off of certain intangible assets and other long-term assets  313   456 Amortization of right-of-use operating lease assets  11,481   12,023 Fair value adjustments related to contingent consideration liabilities  984   443 Deferred income taxes  5,214   (14,873)Stock-based compensation expense  43,460   28,473 Other adjustments  7,855   8,156 Changes in operating assets and liabilities, net of acquisitions  (23,344)  (36,945)Total adjustments  168,882   100,442 Net cash, cash equivalents, and restricted cash provided by operating activities  297,371   220,799        CASH FLOWS FROM INVESTING ACTIVITIES:      Capital expenditures for property and equipment  (81,716)  (35,140)Cash paid for notes receivable and other investments  (18,084)  (10,433)Cash paid in acquisitions, net of cash acquired  (144,769)  (320,182)Other investing, net  (2,817)  (2,898)Net cash, cash equivalents, and restricted cash used in investing activities  (247,386)  (368,653)       CASH FLOWS FROM FINANCING ACTIVITIES:    Proceeds from issuance of common stock  28,213   40,908 Proceeds from (payments on) long-term debt  —   (99,063)Contingent payments related to acquisitions  (2,685)  (261)Payment of taxes related to an exchange of common stock  (9,529)  (1,592)Net cash, cash equivalents, and restricted cash provided by (used in) financing activities  15,999   (60,008)Effect of exchange rates on cash  3,798   (2,515)Net increase (decrease) in cash, cash equivalents and restricted cash  69,782   (210,377)       CASH, CASH EQUIVALENTS AND RESTRICTED CASH:      Beginning of period  378,767   589,144 End of period $448,549  $378,767        RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS:      Cash and cash equivalents  446,404   376,715 Restricted cash reported in prepaid expenses and other current assets  2,145   2,052 Total cash, cash equivalents and restricted cash $448,549  $378,767           Non-GAAP Financial Measures Although Merit’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), Merit’s management believes that the non-GAAP financial measures referenced in this release may provide investors with useful information regarding the underlying business trends and performance of Merit’s ongoing operations and can be useful for period-over-period comparisons of such operations. Non-GAAP financial measures used in this release include: constant currency revenue;constant currency revenue, organic;non-GAAP gross profit and margin;non-GAAP operating income and margin;non-GAAP net income;non-GAAP earnings per share; andfree cash flow. Merit’s management team uses these non-GAAP financial measures to evaluate Merit’s profitability and efficiency, to compare operating and financial results to prior periods, to evaluate changes in the results of its operating segments, and to measure and allocate financial resources internally. However, Merit’s management does not consider such non-GAAP measures in isolation or as an alternative to measures determined in accordance with GAAP. Readers should consider non-GAAP measures used in this release in addition to, not as a substitute for, financial reporting measures prepared in accordance with GAAP. These non-GAAP financial measures generally exclude some, but not all, items that may affect Merit’s net income. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which items are excluded. Merit believes it is useful to exclude such items in the calculation of non-GAAP gross profit and margin, non-GAAP operating income and margin, non-GAAP net income, and non-GAAP earnings per share (in each case, as further illustrated in the reconciliation tables below) because such amounts in any specific period may not directly correlate to the underlying performance of Merit’s business operations and can vary significantly between periods as a result of factors such as acquisition or other extraordinary transactions, non-cash expenses related to amortization or write-off of previously acquired tangible and intangible assets, certain employee termination benefits, expenses resulting from non-ordinary course litigation or administrative proceedings and resulting settlements, governmental proceedings or changes in tax or industry regulations, gains or losses on disposal of certain assets, equity method investment loss (income) from equity investees, and debt issuance costs. Merit may incur similar types of expenses in the future, and the non-GAAP financial information included in this release should not be viewed as a statement or indication that these types of expenses will not recur. Additionally, the non-GAAP financial measures used in this release may not be comparable with similarly titled measures of other companies. Merit urges readers to review the reconciliations of its non-GAAP financial measures to their most directly comparable GAAP financial measures included herein, and not to rely on any single financial measure to evaluate Merit’s business or results of operations. Constant Currency Revenue Merit’s constant currency revenue is prepared by converting the current-period reported revenue of subsidiaries whose functional currency is a currency other than the U.S. dollar at the applicable foreign exchange rates in effect during the comparable prior-year period and adjusting for the effects of hedging transactions on reported revenue, which are recorded in the U.S. dollar. The constant currency revenue adjustments of $(4.4) million and $(5.2) million to reported revenue for the three and twelve-month periods ended December 31, 2025, respectively, were calculated using the applicable average foreign exchange rates for the three and twelve-month periods ended December 31, 2024. Constant Currency Revenue, Organic Merit’s constant currency revenue, organic, is defined, with respect to prior fiscal year periods, as GAAP revenue. With respect to current fiscal year periods, constant currency revenue, organic, is defined as constant currency revenue (as defined above), less revenue from certain acquisitions. For the three-month period ended December 31, 2025, Merit’s constant currency revenue, organic, excludes revenues attributable to products acquired in connection with (i) the assets acquired from Pentax of America, Inc. related to the C2 CryoBalloon™ device in November 2025 (the “C2 Acquisition”), (ii) Merit’s merger transaction with Biolife Delaware, L.L.C. (“Biolife”) in May 2025 (the “Biolife Merger”) and (iii) the assets acquired from Cook Medical Holdings LLC in November 2024 (the “Cook Transaction”). For the twelve-month period ended December 31, 2025, Merit’s constant currency revenue, organic, excludes revenues attributable to products acquired in connection with (i) the C2 Acquisition, (ii) the Biolife Merger, (iii) the Cook Transaction and (iv) the assets acquired from EndoGastric Solutions, Inc. in July 2024 (the “EGS Transaction”). Non-GAAP Gross Profit and Margin Non-GAAP gross profit is calculated by reducing GAAP cost of sales by amounts recorded for amortization of intangible assets and inventory mark-up related to acquisitions. Non-GAAP gross margin is calculated by dividing non-GAAP gross profit by reported net sales. Non-GAAP Operating Income and Margin Non-GAAP operating income is calculated by adjusting GAAP operating income for certain items which are deemed by Merit’s management to be outside of core operations and vary in amount and frequency among periods, such as expenses related to acquisitions or other extraordinary transactions, non-cash expenses related to amortization or write-off of previously acquired tangible and intangible assets, certain employee termination benefits, performance-based stock compensation expenses, expenses resulting from non-ordinary course litigation or administrative proceedings and resulting settlements, governmental proceedings, and changes in governmental or industry regulations, as well as other items referenced in the tables below. Non-GAAP operating margin is calculated by dividing non-GAAP operating income by reported net sales. Non-GAAP Net Income Non-GAAP net income is calculated by adjusting GAAP net income for the items set forth in the definition of non-GAAP operating income above, as well as for expenses related to debt issuance costs, gains or losses on disposal of certain assets, equity method investment loss (income) from equity investees, and other items set forth in the tables below. Non-GAAP EPS Non-GAAP EPS is defined as non-GAAP net income divided by the diluted shares outstanding for the corresponding period. Free Cash Flow Free cash flow is defined as cash flow from operations calculated in accordance with GAAP, less capital expenditures for property and equipment calculated in accordance with GAAP, as set forth in the consolidated statement of cash flows. Other Non-GAAP Financial Measure Reconciliations The following tables set forth supplemental financial data and corresponding reconciliations of non-GAAP financial measures to Merit’s corresponding financial measures prepared in accordance with GAAP, in each case, for the three and twelve-month periods ended December 31, 2025 and 2024. The non-GAAP income adjustments referenced in the following tables do not reflect non-performance-based stock compensation expense of $4.4 million and $3.7 million for the three-month periods ended December 31, 2025 and 2024, respectively, and $18.2 million and $13.2 million for the twelve-month periods ended December 31, 2025 and 2024, respectively. Reconciliation of GAAP Net Income to Non-GAAP Net Income(Unaudited, in thousands except per share amounts)                Three Months Ended  December 31, 2025  Pre-Tax Tax Impact After-Tax Per Share ImpactGAAP net income $51,060  $(13,054) $38,006  $0.63              Non-GAAP adjustments:            Cost of Sales            Amortization of intangibles  19,237   (4,541)  14,696   0.24 Inventory mark-up related to acquisitions  97   (23)  74   0.00 Operating Expenses            Contingent consideration benefit  (214)  (3)  (217)  (0.00)Amortization of intangibles  2,586   (611)  1,975   0.03 Performance-based share-based compensation (a)  5,543   155   5,698   0.09 Corporate restructuring (b)  (346)  82   (264)  (0.00)Acquisition-related  602   (174)  428   0.01 Medical Device Regulation expenses (c)  929   (219)  710   0.01 Other (d)  50   (12)  38   0.00 Other (Income) Expense            Amortization of long-term debt issuance costs  1,414   (334)  1,080   0.02 Other non-operating loss (e)  415   (98)  317   0.01              Non-GAAP net income $81,373  $(18,832) $62,541  $1.04              Diluted shares           60,026                 Three Months Ended  December 31, 2024  Pre-Tax Tax Impact After-Tax Per Share ImpactGAAP net income $33,145 $(5,198) $27,947 $0.46             Non-GAAP adjustments:            Cost of Sales            Amortization of intangibles  16,832  (3,978)  12,854  0.21Inventory mark-up related to acquisitions  75  (17)  58  0.00Operating Expenses            Contingent consideration expense  151  48   199  0.00Amortization of intangibles  2,385  (564)  1,821  0.03Performance-based share-based compensation (a)  5,841  (141)  5,700  0.09Corporate restructuring (b)  1,098  (260)  838  0.01Acquisition-related  5,239  (1,237)  4,002  0.07Medical Device Regulation expenses (c)  1,395  (329)  1,066  0.02Other (d)  71  (16)  55  0.00Other (Income) Expense            Amortization of long-term debt issuance costs  2,338  (552)  1,786  0.03             Non-GAAP net income $68,570 $(12,244) $56,326 $0.93             Diluted shares           60,613              Note: Certain per-share impacts may not sum to totals due to rounding. Reconciliation of GAAP Net Income to Non-GAAP Net Income(Unaudited, in thousands except per share amounts)                Year Ended  December 31, 2025  Pre-Tax Tax Impact After-Tax Per Share ImpactGAAP net income $170,937 $(42,448) $128,489 $2.13             Non-GAAP adjustments:            Cost of Sales            Amortization of intangibles  75,035  (17,725)  57,310  0.95Inventory mark-up related to acquisitions  347  (82)  265  0.00Operating Expenses            Contingent consideration expense  984  26   1,010  0.02Amortization of intangibles  10,083  (2,382)  7,701  0.13Performance-based share-based compensation (a)  25,224  (2,189)  23,035  0.38Corporate restructuring (b)  2,527  (596)  1,931  0.03Acquisition-related  2,690  (176)  2,514  0.04Medical Device Regulation expenses (c)  5,812  (1,372)  4,440  0.07Other (d)  153  (36)  117  0.00Other (Income) Expense            Amortization of long-term debt issuance costs  5,656  (1,336)  4,320  0.07Other non-operating loss (e)  426  (159)  267  0.00             Non-GAAP net income $299,874 $(68,475) $231,399 $3.83             Diluted shares           60,460                Year Ended  December 31, 2024  Pre-Tax Tax Impact After-Tax Per Share ImpactGAAP net income $149,993 $(29,636) $120,357 $2.03             Non-GAAP adjustments:            Cost of Sales            Amortization of intangibles  57,659  (13,632)  44,027  0.74Inventory mark-up related to acquisitions  634  (149)  485  0.01Operating Expenses            Contingent consideration expense  443  17   460  0.01Amortization of intangibles  7,931  (1,876)  6,055  0.10Performance-based share-based compensation (a)  15,237  (1,607)  13,630  0.23Corporate restructuring (b)  3,128  (739)  2,389  0.04Acquisition-related  8,849  (2,089)  6,760  0.11Medical Device Regulation expenses (c)  7,515  (1,774)  5,741  0.10Other (d)  373  (88)  285  0.00Other (Income) Expense            Amortization of long-term debt issuance costs  6,769  (1,598)  5,171  0.09             Non-GAAP net income $258,531 $(53,171) $205,360 $3.46             Diluted shares           59,365              Note: Certain per-share impacts may not sum to totals due to rounding. Reconciliation of Reported Operating Income to Non-GAAP Operating Income (Unaudited, in thousands except percentages)                            Three Months Ended Three Months Ended Year Ended Year Ended  December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024  Amounts % Sales Amounts % Sales Amounts % Sales Amounts % SalesNet Sales as Reported $393,936     $355,158    $1,515,906    $1,356,514                            GAAP Operating Income  54,195  13.8 %  36,564 10.3%  184,720 12.2%  155,693 11.5%Cost of Sales                        Amortization of intangibles  19,237  4.9 %  16,832 4.7%  75,035 4.9%  57,659 4.3%Inventory mark-up related to acquisitions  97  0.0 %  75 0.0%  347 0.0%  634 0.0%Operating Expenses                        Contingent consideration (benefit) expense  (214) (0.1)%  151 0.0%  984 0.1%  443 0.0%Amortization of intangibles  2,586  0.7 %  2,385 0.7%  10,083 0.7%  7,931 0.6%Performance-based share-based compensation (a)  5,543  1.4 %  5,841 1.6%  25,224 1.7%  15,237 1.1%Corporate restructuring (b)  (346) (0.1)%  1,098 0.3%  2,527 0.2%  3,128 0.2%Acquisition-related  602  0.2 %  5,239 1.5%  2,690 0.2%  8,849 0.7%Medical Device Regulation expenses (c)  929  0.2 %  1,395 0.4%  5,812 0.4%  7,515 0.6%Other (d)  50  0.0 %  71 0.0%  153 0.0%  373 0.0%                         Non-GAAP Operating Income $82,679  21.0 % $69,651 19.6% $307,575 20.3% $257,462 19.0%                            Note: Certain percentages may not sum to totals due to rounding.       (a)   Represents performance-based share-based compensation expense, including stock-settled and cash-settled awards.       (b)   Includes employee termination benefits associated with activities related to corporate restructuring initiatives and costs to terminate certain distribution contracts from the Biolife Merger.       (c)   Represents incremental expenses incurred to comply with the E.U. Medical Device Regulation.       (d)   Represents costs to comply with Merit’s corporate integrity agreement with the U.S. Department of Justice.       (e)   Includes gains and losses associated with the disposal of business units and equity method investment loss (income) from equity investees. Reconciliation of Reported Revenue to Constant Currency Revenue (Non-GAAP), and Constant Currency Revenue, Organic (Non-GAAP)(Unaudited, in thousands except percentages)                      Three Months Ended   Year Ended    December 31,   December 31,  % Change 2025  2024 % Change 2025  2024Reported Revenue 10.9%$393,936  $355,158 11.8%$1,515,906  $1,356,514                 Add: Impact of foreign exchange    (4,395)  —    (5,173)  —                 Constant Currency Revenue (a) 9.7%$389,541  $355,158 11.4%$1,510,733  $1,356,514                 Less: Revenue from certain acquisitions    (10,840)  —    (62,285)  —                 Constant Currency Revenue, Organic (a) 6.6%$378,701  $355,158 6.8%$1,448,448  $1,356,514                          (a)   A non-GAAP financial measure. For a definition of this and other non-GAAP financial measures, see the section of this release entitled “Non-GAAP Financial Measures.” Reconciliation of Reported Gross Margin to Non-GAAP Gross Margin (Non-GAAP)(Unaudited, as a percentage of reported revenue)                Three Months Ended Year Ended  December 31, December 31,  2025  2024  2025  2024 Reported Gross Margin 49.6% 48.7% 48.7% 47.4%             Add back impact of:            Amortization of intangibles 4.9% 4.7% 4.9% 4.3%Inventory mark-up related to acquisitions 0.0% 0.0% 0.0% 0.0%             Non-GAAP Gross Margin 54.5% 53.5% 53.7% 51.7%              Note: Certain percentages may not sum to totals due to rounding. Reconciliation of Reported Cash Flow from Operations to Free Cash Flow (Non-GAAP) (Unaudited, in thousands)                Three Months Ended Year Ended  December 31, December 31,  2025  2024  2025  2024 Reported Cash Flow from Operations $98,510  $68,745  $297,371  $220,799              Less: Capital Expenditures  (24,464)  (3,472)  (81,716)  (35,140)             Free Cash Flow $74,046  $65,273  $215,655  $185,659                   Reconciliation of 2026 Net Sales Guidance – % Change from Prior Year (Constant Currency)        Low High2026 Net Sales Guidance – % Change from Prior Year (GAAP) 6.2% 7.5%Estimated impact of foreign currency exchange rate fluctuations (0.8%) (0.8%)2026 Net Sales Guidance – % Change from Prior Year (Constant Currency) 5.4% 6.7%      Note: Certain percentages may not sum to totals due to rounding. ABOUT MERIT Founded in 1987, Merit is engaged in the development, manufacture, and distribution of proprietary medical devices used in interventional, diagnostic, and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care, and endoscopy. Merit serves customers worldwide with a domestic and international sales force and clinical support team totaling more than 800 individuals. Merit employs approximately 7,500 people worldwide. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others: statements preceded or followed by, or that include the words, “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “intends,” “seeks,” “believes,” “estimates,” “projects,” “forecasts,” “potential,” “target,” “continue,” “upcoming,” “optimistic” or other forms of these words or similar words or expressions, or the negative thereof or other comparable terminology;statements that address Merit’s future operating performance or events or developments that Merit’s management expects or anticipates will occur, including, without limitation, any statements regarding Merit’s projected revenues, earnings or other financial measures, Merit’s plans and objectives for future operations, Merit’s proposed new products or services, the integration, development or commercialization of the business or any assets acquired from other parties, future economic conditions or performance, the implementation of, and results which may be achieved through, Merit’s Continued Growth Initiatives Program or other business optimization initiatives, and any statements of assumptions underlying any of the foregoing; andstatements regarding Merit’s past performance, efforts, or results about which inferences or assumptions may be made, including statements proceeded or followed by the words “preliminary,” “initial,” “potential,” “possible,” “diligence,” “industry-leading,” “compliant,” “indications” or “early feedback” or other forms of these words or similar words or expressions, or the negative thereof or other comparable terminology. The forward-looking statements contained in this release are based on Merit management’s current expectations and assumptions regarding future events or outcomes. If underlying expectations or assumptions prove inaccurate, or risks or uncertainties materialize, actual results will likely differ, and may differ materially, from Merit’s expectations reflected in any forward-looking statements. Financial estimates are subject to change and are not intended to be relied upon as predictions of future operating results. Investors are cautioned not to unduly rely on any such forward-looking statements. The following are some of the important risks and uncertainties that could cause Merit’s actual results to differ from management’s expectations in any forward-looking statements: risks and uncertainties associated with Merit’s executive succession planning activities and leadership transition; risks and uncertainties regarding trade policies or related actions implemented by the U.S. or other countries, including existing, proposed, prospective or invalidated tariffs, duties or other measures; risks and uncertainties associated with Merit’s integration of businesses or products acquired from third parties, including the acquisitions of the businesses and products in connection with the C2 Acquisition and the Biolife Merger in 2025 and the Cook Transaction and the EGS Transaction in 2024, and Merit’s ability to achieve the anticipated financial results, product development and other anticipated benefits of such acquisitions; effects of Merit’s 3.00% Senior Convertible Notes on Merit’s net income and earnings per share performance; disruptions in Merit’s supply chain, manufacturing or sterilization processes; U.S. and global political, economic, competitive, reimbursement and regulatory conditions; modification or limitation of, or policies and procedures associated with, governmental or private insurance reimbursement policies; reduced availability of, and price increases associated with, components and other raw materials; increases in transportation expenses; risks relating to Merit’s potential inability to successfully manage growth through acquisitions generally, including the inability to effectively integrate acquired operations or products or commercialize technology developed internally or acquired through completed, proposed or future transactions; fluctuations in interest or foreign currency exchange rates and inflation; cybersecurity events; government scrutiny and regulation of the medical device industry; difficulties relating to development, testing and regulatory approval, clearance and maintenance of Merit’s products; the safety, efficacy and patient and physician adoption of Merit’s products; the ability to fully enroll and the outcomes of ongoing and future clinical trials and market studies relating to Merit’s products; litigation and other legal proceedings affecting Merit; failure to comply with U.S. and foreign laws and regulations; restrictions on Merit’s liquidity or business operations resulting from its debt agreements; infringement of Merit’s technology or the assertion that Merit’s technology infringes the rights of other parties; product recalls and product liability claims; potential for significant adverse changes in governing regulations; Merit’s divestiture of its DualCap® anti-microbial cap product line in February 2026, changes in tax laws and regulations in the United States or other jurisdictions or exposure to additional tax liabilities which may adversely affect Merit’s effective tax rate; termination of relationships with Merit’s suppliers, or failure of such suppliers to perform; development of new products and technology that could render Merit’s existing or future products obsolete; market acceptance of new products; failure to comply with applicable environmental laws; changes in key personnel; labor shortages and increases in labor costs; price and product competition; extreme weather events; and geopolitical events. For a further discussion of the risks and uncertainties which may affect Merit’s business, operations and financial condition, see Part I, Item 1A. “Risk Factors” in Merit’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC. All subsequent forward-looking statements attributable to Merit or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Actual results will likely differ, and may differ materially, from anticipated results. Financial estimates are subject to change and are not intended to be relied upon as predictions of future operating results. Those estimates and all other forward-looking statements included in this release are made only as of the date of this release, and except as otherwise required by applicable law, Merit assumes no obligation to update or disclose revisions to estimates and all other forward-looking statements. TRADEMARKS Unless noted otherwise, trademarks and registered trademarks used in this release are the property of Merit Medical Systems, Inc., its subsidiaries, or its licensors.      Contacts:   PR/Media Inquiries:Sarah ComstockMerit MedicalInvestor Inquiries:Mike Piccinino, CFA, IRCICR Healthcare  +1-801-432-2864+1-443-213-0509  sarah.comstock@merit.commike.piccinino@icrhealthcare.com