Utah Medical Products (UTMD) Q4 2025 earnings summary

Executive summary

• 2025 financial results fell short of initial projections due to unexpected events, but profit margins remained strong and year-end cash increased to $85.8 million after dividends and share repurchases.

• Annual revenues declined 5.8% year-over-year to $38.5 million, with net income down 18.7% to $11.3 million and diluted EPS down 12.1% to $3.48.

• Share repurchases reduced outstanding shares by 4.5% during 2025, supporting EPS despite lower net income.

Financial highlights

• Gross profit margin for 2025 was 57.1%, down from 59.0% in 2024; 4Q 2025 margin was 58.2%.

• Operating income margin for 2025 was 29.6%, down from 33.2% in 2024.

• Adjusted consolidated EBITDA for 2025 was $17.5 million (45.3% of sales), down 12.1% year-over-year.

• Cash and investments at year-end rose to $85.8 million, up $2.8 million from 2024.

Outlook and guidance

• OEM sales to PendoTech and blood pressure monitoring kits to China are expected to be zero in 2026, compared to $2.5 million in 2025.

• Plans to offset lost sales with new product introductions and growth in core business, but substantial uncertainty remains.