Merit Medical Systems, Inc. (MMSI) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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MMSI Revenue Growth
Revenue Breakdown (FY 2025)
MMSI's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
MMSI Revenue Analysis (2014–2025)
As of May 8, 2026, Merit Medical Systems, Inc. (MMSI) generated trailing twelve-month (TTM) revenue of $1.54 billion, reflecting solid growth of +7.8% year-over-year. The most recent quarter (Q1 2026) recorded $381.9 million in revenue, down 3.1% sequentially.
Looking at the longer-term picture, MMSI's 5-year compound annual growth rate (CAGR) stands at +9.5%, indicating steady revenue expansion. The company achieved its highest annual revenue of $1.51 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows MMSI's business is primarily driven by Cardiovascular (95%), and Endoscopy (5%). With over half of revenue concentrated in Cardiovascular, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including ITGR (+6.0% YoY), NNOX (+15.2% YoY), and ATRC (+15.0% YoY), MMSI has underperformed the peer group in terms of revenue growth. Compare MMSI vs ITGR →
MMSI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| MMSICurrent | $1.5B | +7.8% | +9.5% | 12.2% | |
 ITGR | $1.8B | +6.0% | +11.5% | 11.3% | |
 NNOX | $11M | +15.2% | - | -502.9% | |
 ATRC | $535M | +15.0% | +20.9% | -0.6% | |
 NVCR | $655M | +8.5% | +5.8% | -23.5% | |
 INVA | $425M | +13.6% | +4.8% | 38.5% |
MMSI Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.51B | +11.7% | $736.9M | 48.7% | $184.4M | 12.2% |
| 2024 | $1.36B | +7.9% | $643.3M | 47.4% | $155.7M | 11.5% |
| 2023 | $1.26B | +9.2% | $583.9M | 46.4% | $123.9M | 9.9% |
| 2022 | $1.15B | +7.1% | $519.1M | 45.1% | $87.6M | 7.6% |
| 2021 | $1.07B | +11.5% | $485.3M | 45.2% | $60.9M | 5.7% |
| 2020 | $963.9M | -3.1% | $401.2M | 41.6% | $-1,562,000 | -0.2% |
| 2019 | $994.9M | +12.7% | $432.4M | 43.5% | $15.4M | 1.6% |
| 2018 | $882.8M | +21.3% | $394.8M | 44.7% | $58.6M | 6.6% |
| 2017 | $727.9M | +20.5% | $326.3M | 44.8% | $33.1M | 4.5% |
| 2016 | $603.8M | +11.4% | $265.0M | 43.9% | $34.9M | 5.8% |
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Start ComparisonMMSI — Frequently Asked Questions
Quick answers to the most common questions about buying MMSI stock.
Is MMSI's revenue growth accelerating or slowing?
MMSI maintains +7.8% revenue growth, in line with its 5-year CAGR of +9.5%. TTM revenue stands at $1.5B. Growth rate remains consistent with historical average.
What is MMSI's long-term revenue growth rate?
Merit Medical Systems, Inc.'s 5-year revenue CAGR of +9.5% reflects the sustained expansion pattern. Current YoY growth of +7.8% is near this long-term average.
How is MMSI's revenue distributed by segment?
MMSI reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.