Merit Medical Reports 13.2% Revenue Growth in Q2 2025, Acquires Biolife for $120 Million

Merit Medical Systems, Inc. reported a notable increase in financial performance for the second quarter of 2025, with net sales reaching $382.5 million, a 13.2% increase from $338.0 million in the same period of 2024. For the first half of 2025, the company recorded sales of $737.8 million, up 11.5% from $661.5 million year-over-year. The gross profit margin also improved, rising to 48.2% for the second quarter and 48.3% for the first half, compared to 47.7% and 47.3%, respectively, in the prior year. However, net income for the second quarter decreased to $32.6 million, or $0.54 per share, down from $35.7 million, or $0.61 per share, in the previous year. For the first half, net income was $62.7 million, or $1.03 per share, compared to $64.0 million, or $1.09 per share, in 2024.

The company experienced significant operational changes, including the acquisition of Biolife, L.L.C. for $120 million, which was finalized on May 20, 2025. This acquisition is expected to enhance Merit’s product offerings in hemostatic devices. During the first half of 2025, sales from Biolife products amounted to approximately $1.4 million. Additionally, Merit’s sales strategy was realigned to include spine devices under the OEM product category, which contributed to the reported revenue figures. The company also reported an increase in selling, general, and administrative expenses, which rose by 19.6% in the second quarter, primarily due to higher labor costs and integration expenses related to recent acquisitions.

Geographically, U.S. sales accounted for 59.4% of total sales in the second quarter, increasing by 16.7% to $227.1 million. International sales also grew by 8.4% to $155.4 million, driven by strong performance in the Rest of World and EMEA regions. The company’s total assets increased to $2.586 billion as of June 30, 2025, up from $2.419 billion at the end of 2024, reflecting the impact of recent acquisitions and operational investments. The company’s cash and cash equivalents stood at $341.8 million, with a net available borrowing capacity of approximately $697 million under its credit agreement.

Looking ahead, Merit Medical anticipates continued growth driven by demand in the U.S. and favorable international sales trends. However, the company is closely monitoring changes in trade policies that could affect production costs and pricing strategies. The management remains optimistic about leveraging recent acquisitions to enhance its market position and drive future revenue growth. The company’s strategic focus on expanding its product portfolio and geographic reach is expected to support its long-term financial objectives.