Company: ICUI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000883984-25-000007
Chunk: 285

Company: ICU MEDICAL INC/DE
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 285
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 of our global revenues are from products manufactured in our Mexico manufacturing facilities and imported into the U.S. In addition, Canada is our second largest country in terms of revenue and the vast majority of products sold in Canada are imported from the U.S. The 25% tariff levied on all goods shipped from Mexico to the U.S., combined with the 25% tariff on products shipped from the U.S. to Canada could potentially have a meaningful impact to our costs and any further trade war escalation could increase that impact. 

While we continually monitor the ongoing and evolving impact of the above events on our operations the overall impact remains uncertain and may not be fully reflected in our results of operations until future periods. The overall impact to our results of operations will depend on a number of factors, many of which are out of our control, none of which can be fully predicted at this time. See "Part I. Item 1A. Risk Factors" for a discussion of risks and uncertainties. 

Consolidated Results of Operations

We present our consolidated statements of operations for each of the three years ended December 31, 2024, 2023 and 2022 in Item 8. Financial Statements and Supplementary Data. The following table shows, for each of the three most recent years, the respective percentages of items in our statements of operations in relation to total revenues: 

 Percentage of Revenues 202420232022Total revenues100 %100 %100 %Gross profit35 %33 %31 %Selling, general and administrative expenses27 %27 %27 %Research and development expenses4 %4 %4 %Restructuring, strategic transaction and integration expenses3 %2 %3 %Change in fair value of contingent earn-out— %(1)%(1)%Total operating expenses34 %32 %33 %Income from operations1 %1 %(2)%Interest expense, net(4)%(4)%(3)%Other expense, net(1)%— %— %Loss before income taxes(4)%(3)%(5)%Provision (benefit) for income taxes2 %(2)%(2)%Net loss(6)%(1)%(3)%

Total revenues were $2.4 billion, $2.3 billion and $2.3 billion for 2024, 2023 and 2022, respectively.

The following table sets forth, for the periods indicated,