Utah Medical Products | 8-K: FY2025 Revenue: USD 38.52 M

Revenue: As of FY2025, the actual value is USD 38.52 M.EPS: As of FY2025, the actual value is USD 3.483.Overall PerformanceUtah Medical Products, Inc. did not meet its initial financial projections for 2025, but maintained strong profit margins and increased year-ending cash balances to $85.8 million .Revenue (Sales)Total consolidated worldwide sales for Utah Medical Products, Inc. in 2025 were $38,520 thousand, a -5.8% decrease from $40,903 thousand in 2024 . For the fourth quarter of 2025 (4Q 2025), total consolidated worldwide sales were $9,044 thousand, a -1.2% decrease from $9,157 thousand in 4Q 2024 . The annual revenue decline of $2,383 thousand in 2025 was primarily attributed to a $2,295 thousand decrease in OEM sales to PendoTECH, a $471 thousand decrease in OUS distributor sales (excluding Filshie, including $310 thousand lower sales to the China distributor), and $745 thousand lower worldwide sales of Filshie Clip System devices .Revenue Categories (Year 2025 vs 2024): PendoTECH OEM: 2025 Sales: $0.4 million, 2024 Sales: $2.7 million, Decline: - $2.3 million (96% of total decline) . OUS Distributors (excluding Filshie): 2025 Sales: $8.6 million, 2024 Sales: $9.1 million, Decline: - $0.5 million (20% of total decline) . WW Filshie: 2025 Sales: $10.1 million, 2024 Sales: $10.8 million, Decline: - $0.7 million (31% of total decline) . Total Consolidated WW Revenues: 2025: $38.5 million, 2024: $40.9 million, Decline: - $2.4 million .Filshie Device Sales (Year 2025 vs 2024): Domestic Direct: 2025 Sales: $4.5 million, 2024 Sales: $4.0 million, Revenue Change: + $0.5 million (+11%) . OUS Direct: 2025 Sales: $4.5 million, 2024 Sales: $5.3 million, Revenue Change: - $0.8 million (-16%) . OUS distributors: 2025 Sales: $1.1 million, 2024 Sales: $1.5 million, Revenue Change: - $0.4 million (-23%) . Total Filshie Revenues: 2025: $10.1 million, 2024: $10.8 million, Revenue Change: - $0.7 million (-7%) .Domestic U.S. Sales (Year 2025 vs 2024):Domestic U.S. sales in 2025 were $22,761 thousand, a decrease of $683 thousand (-2.9%) from $23,444 thousand in 2024 . This included - $1,866 thousand lower domestic PendoTECH sales, offset by + $1,183 thousand higher other domestic sales . Domestic Filshie device sales increased by $436 thousand (+10.8%), and domestic direct sales of other devices increased by $872 thousand (+5.9%), driven by a 16% increase in domestic NICU device sales .OUS Sales (Year 2025 vs 2024):OUS USD-denominated sales in 2025 were $15,758 thousand, a decrease of $1,700 thousand (-9.7%) from $17,458 thousand in 2024 . In constant currency terms, OUS sales in 2025 were -12.0% lower than in 2024, though a stronger EUR and GBP added $397 thousand to reported 2025 USD sales .Gross Profit (GP)Gross Profit for 2025 was $22,001 thousand, an -8.9% decrease from $24,143 thousand in 2024 . In 4Q 2025, GP was $5,264 thousand, a -1.1% decrease from $5,323 thousand in 4Q 2024 .Gross Profit Margin (GP/sales): 4Q 2025: 58.2% . 4Q 2024: 58.1% . Year 2025: 57.1% . Year 2024: 59.0% .Operating Income (OI)Operating Income for 2025 was $11,402 thousand, a -16.1% decrease from $13,594 thousand in 2024 . In 4Q 2025, OI was $2,442 thousand, a -16.7% decrease from $2,930 thousand in 4Q 2024 .Operating Income Margin (OI/sales): 4Q 2025: 27.0% . 4Q 2024: 32.0% . Year 2025: 29.6% . Year 2024: 33.2% .Operating Expenses (OE)Total Operating Expenses for 2025 were $10,599 thousand, compared to $10,549 thousand in 2024 . In 4Q 2025, total OE were $2,822 thousand, compared to $2,393 thousand in 4Q 2024 . The total impact of FX rate changes on OE added $41 thousand in 4Q 2025 and $109 thousand for the year 2025 .Operating Expenses by Category (Year 2025 vs 2024): Sales & Marketing (S&M): 2025: $2,051 thousand (5.3% of sales), 2024: $1,901 thousand (4.6% of sales) . General & Administrative (G&A): 2025: $7,880 thousand (20.5% of sales), 2024: $7,835 thousand (19.2% of sales) . Research & Development (R&D): 2025: $668 thousand (1.7% of sales), 2024: $813 thousand (2.0% of sales) .Major changes in G&A expenses included - $783 thousand lower U.S. product liability lawsuit legal expenses in 2025 compared to 2024 . This benefit was offset by a - $395 thousand write-off of cancellation fees from the China distributor, a - $195 thousand loss from embezzled funds by the Australia subsidiary manager, and a + $100 thousand increase in OUS G&A expenses due to stronger EUR and GBP .Income Before Tax (EBT)Consolidated EBT for 2025 was $14,110 thousand, a -16.0% decrease from $16,802 thousand in 2024 . In 4Q 2025, EBT was $3,106 thousand, a -14.1% decrease from $3,614 thousand in 4Q 2024 .Income Before Tax Margin (EBT/sales): 4Q 2025: 34.3% . 4Q 2024: 39.5% . Year 2025: 36.6% . Year 2024: 41.1% .Net non-operating income (NOI) in 2025 was $2,707 thousand, compared to $3,208 thousand in 2024, primarily due to lower interest rates on Utah Medical Products, Inc.’s higher cash balances .Net Income (NI)Net Income for 2025 was $11,286 thousand, an -18.7% decrease from $13,874 thousand in 2024 . In 4Q 2025, NI was $2,565 thousand, an -11.6% decrease from $2,902 thousand in 4Q 2024 .Net Income Margin (NI/sales): 4Q 2025: 28.4% . 4Q 2024: 31.7% . Year 2025: 29.3% . Year 2024: 33.9% .Adjusted Consolidated EBITDAAdjusted consolidated EBITDA for 2025 was $17,458 thousand, a -12.1% decrease from $19,852 thousand in 2024 . In 4Q 2025, adjusted consolidated EBITDA was $3,965 thousand, compared to $4,405 thousand in 4Q 2024 .Adjusted Consolidated EBITDA as a percentage of sales: 4Q 2025: 43.8% . 4Q 2024: 48.1% . Year 2025: 45.3% . Year 2024: 48.5% .Cash and InvestmentsCash and Investments increased by $2.8 million to $85.8 million on December 31, 2025, from $83.0 million on December 31, 2024 . This increase occurred despite using over $12.7 million of cash for share repurchases ($8,355 thousand), stockholder dividends ($3,984 thousand), and new manufacturing equipment and tooling ($371 thousand) during 2025 .Stockholders’ EquityStockholders’ Equity increased by $1.8 million as of December 31, 2025, from December 31, 2024, despite a reduction from $12.3 million in share repurchases and stockholder dividends .Share Repurchases and DividendsUtah Medical Products, Inc. repurchased 148,935 shares for $8,355 thousand in 2025 at an average cost of $56.10 per share . The company paid $3,983 thousand ($1.22/share) in dividends to stockholders in 2025, compared to $4,260 thousand ($1.20/share) in 2024 . The regular quarterly dividend was increased to $0.310 per share starting with a January 2026 payment .Balance Sheet Highlights (as of December 31, 2025)Cash & Investments: $85,756 thousand .Accounts & Other Receivables, Net: $3,522 thousand .Inventories: $7,935 thousand .Total Current Assets: $97,742 thousand .Total Assets: $122,542 thousand .Total Current Liabilities: $2,598 thousand .Stockholders’ Equity: $119,268 thousand .Financial Ratios (as of December 31, 2025)Current Ratio: 37.6 .Days in Trade Receivables: 35.0 .Average Inventory Turns in 2025: 2.0 .2025 ROE (before dividends): 9.4% .Outlook / GuidanceFor 2026, Utah Medical Products, Inc. expects OEM sales to PendoTech and blood pressure monitoring kits to China to be zero, representing a combined - $2.5 million decrease from 2025 . The company plans to offset these losses entirely with new product sales, including those to other biopharma customers, and modest growth in its organic business, such as domestic and improved OUS Filshie device sales . Financial projections for 2026 assume the same exchange rates as in 4Q 2025 .