UTAH MEDICAL PRODUCTS INC

Listed Company

UTMDCIK 0000706698NasdaqNon-AcceleratedSmaller ReportingSurgical & Medical Instruments & ApparatusUtahFY ends Dec 31

Period

FY 2025

Revenue

$38.52M

Net Income

$11.29M

Total Assets

$122.54M

Equity

$119.27M

Shares Out

3.19M

Op. Cash Flow

$14.69M

Business

UTAH MEDICAL PRODUCTS INC produces disposable and reusable medical devices focused on safety and improved patient outcomes for critical care, labor and delivery, neonatal intensive care, gynecology and urology. Its main products include intrauterine pressure catheters, fetal monitoring belts, vacuum-assisted delivery cups and pumps, neonatal catheters and respiratory hoods, electrosurgical generators and electrodes, the Filshie Clip System, pressure transducers and related accessories. The company operates product development, manufacturing and OEM subcontracting activities across clinical device families and electrosurgery, neonatal care and pressure-monitoring lines. It sells directly to hospitals and clinics in the U.S., and through subsidiaries and roughly 200 independent distributors internationally.

Summary from filing dated 2025-03-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales, net (notes 1, 3, 9 and 11)	39	41	50	52	49
Cost of goods sold	17	17	20	20	18
Gross profit	22	24	30	32	31
Sales and marketing	2	2	2	2	1
Research and development	668,000	813,000	560,000	493,000	526,000
General and administrative	8	8	11	10	10
Operating income	11	14	17	20	19
Dividend and interest income	3	3	3	661,000	166,000
Royalty income (note 12)	20,000	15,000	20,000	20,000	15,000
Other, net	−120,000	−174,000	256,000	188,000	0
Income before provision for income taxes	14	17	20	21	19
Provision for income taxes (note 7)	3	3	3	4	4
Net income	11	14	17	16	15
Earnings per common share (basic) (note 1)	3.48	3.96	4.58	4.53	4.05
Earnings per common share (diluted)	3.48	3.96	4.57	4.52	4.04
Foreign currency translation net of taxes of $0 in all periods	2	−1	1	−3	−773,000
Total comprehensive income	14	13	18	13	14

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	86	83	93	75	61
Accounts and other receivables, net (note 2)	4	4	3	6	5
Inventories (note 2)	8	9	10	9	7
Prepaid expenses and other current assets	529,000	448,000	428,000	515,000	456,000
Total current assets	98	96	106	90	73
Property and equipment, net (notes 4 and 10)	10	10	11	10	11
Goodwill	14	14	14	13	14
Other intangible assets (note 2)	56	54	54	53	56
Other intangible assets - accumulated amortization	−55	−51	−49	−42	−39
Other intangible assets - net (note 2)	840,000	3	5	10	18
Total assets	123	123	135	124	116
Accounts payable	911,000	696,000	769,000	1	761,000
Accrued expenses (note 2)	2	3	4	5	3
Total current liabilities	3	4	5	6	4
Long term lease liability	225,000	282,000	295,000	—	—
Deferred tax liability - intangible assets	114,000	603,000	1	2	2
Deferred income taxes (note 7)	337,000	469,000	322,000	549,000	577,000
Total liabilities	3	5	7	10	8
Commitments and contingencies (notes 6 and 12)	0	0	0	0	0
Common stock, $.01 par value; 50,000 shares authorized, issued 3,186 shares in 2025 and 3,335 shares in 2024	32,000	33,000	36,000	36,000	37,000
Accumulated other comprehensive loss	−9	−12	−11	−12	−9
Additional paid-in capital	0	0	594,000	251,000	841,000
Retained earnings	129	129	138	126	115
Total stockholders' equity	119	117	128	114	107
Total liabilities and stockholders' equity	123	123	135	124	116

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	826,000	730,000	623,000	612,000	636,000
Amortization	2	2	6	6	7
Provision for losses on accounts receivable	367,000	−4,000	−33,000	30,000	24,000
Amortization of operating lease assets	56,000	51,000	53,000	53,000	3,000
Deferred income taxes	−659,000	−359,000	−693,000	—	—
Stock-based compensation expense	373,000	256,000	225,000	183,000	166,000
Tax benefit attributable to exercise of stock options	0	21,000	12,000	6,000	39,000
Accounts receivable	338,000	−835,000	2	−511,000	−1
Other receivables	−5,000	54,000	0	−14,000	−42,000
Inventories	1	587,000	−670,000	−2	−485,000
Prepaid expenses and other current assets	−54,000	−32,000	45,000	−64,000	−81,000
Accounts payable	211,000	−73,000	−456,000	464,000	−23,000
Accrued expenses	−1	−2	−1	252,000	713,000
Net cash provided by operating activities	15	15	22	21	21
Property and equipment	−371,000	−230,000	−639,000	−809,000	−552,000
Intangible assets	0	−5,000	0	−9,000	0
Proceeds from the sale of property and equipment	0	27,000	0	0	—
Net cash (used in) investing activities	−371,000	−208,000	−639,000	−818,000	−552,000
Proceeds from issuance of common stock - options	0	390,000	117,000	174,000	560,000
Common stock purchased and retired	−8	−20	0	−2	0
Dividends paid	−4	−4	−4	−3	−11
Net cash (used in) financing activities	−12	−24	−4	−5	−11
Effect of exchange rate changes on cash	797,000	−677,000	339,000	−767,000	−362,000
Net increase (decrease) in cash and cash equivalents	3	−10	18	14	9
Income taxes	4	5	5	5	5
Interest	0	0	0	0	0

Filings

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