Company: UFPT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001171843-25-003049
Chunk: 19

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 19
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 three months ended March 31, 2025. Net sales to one customer comprised approximately 32.2% of the Company’s consolidated net sales for the three months ended March 31, 2024.

On March 31, 2025, two customers represented approximately 25.4% and 12.9% of gross accounts receivable, respectively. On March 31, 2024, one customer represented approximately 18.4% of gross accounts receivable.

The Company’s products are primarily sold to customers within the Medical and Non-medical markets. Sales by market for the three months ended March 31, 2025 and 2024 are as follows (in thousands):

			Three Months Ended March 31,

			2025

			2024 (a)

			Market

			Net Sales

			%

			Net Sales

			%

			Medical

			$
			135,416

			91.4
			%
			 
			$
			90,037

			85.7
			%

			Non-medical

			12,732

			8.6
			%

			14,972

			14.3
			%

			Net Sales

			$
			148,148

			100.0
			%
			 
			$
			105,009

			100.0
			%

(a)    Note – This table has been updated to conform to the current year presentation.

21

			(14)

			Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill for the three months ended March 31, 2025 are as follows (in thousands):

			Goodwill

			December 31, 2024

			$
			189,657

			Foreign currency translation

			901

			March 31, 2025

			$
			190,558

The carrying values of the Company’s definite lived intangible assets as of March 31, 2025 are as follows (in thousands):

			March 31, 2025

			Customer
			List

			Intellectual Property

			Tradename & Brand

			Non-
			Compete

			Total

			Weighted-average amortization period

			20 years