Company: ICUI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000883984-25-000007
Chunk: 287

Company: ICU MEDICAL INC/DE
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 287
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 performance presented in accordance with GAAP.

Consumables

The following table summarizes our total Consumables revenue (in millions, except percentages):

Year Ended December 31,$ change % change $ change % change 2024202320222024 over 20232023 over 2022Consumables revenue (GAAP)$1,038.9 $969.1 $975.0 $69.8 7.2 %$(5.9)(0.6)%Impact of foreign exchange rate changes2.8 $4.0 Consumables revenue on a constant currency basis (non-GAAP)$1,041.7 $973.1 $ Change in constant currency$72.6 $(1.9)% Change in constant currency7.5 %(0.2)%

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Consumables revenue increased in 2024, as compared to 2023, primarily due to new customer installations and increased demand for our Infusion Consumables, Vascular Access and Oncology product lines.

Consumables revenue decreased in 2023, as compared to 2022, primarily due to a decrease in our vascular access revenues as a result of lost customers and backorder recovery in 2022. The revenue decrease was partially offset by an increase in Infusion Therapy and Oncology revenues.

Infusion Systems

The following table summarizes our total Infusion Systems revenue (in millions, except percentages):

Year Ended December 31,$ change % change $ change % change 2024202320222024 over 20232023 over 2022Infusion Systems (GAAP)$652.4 $629.0 $617.4 $23.4 3.7 %$11.6 1.9 %Impact of foreign exchange rate changes20.3 $10.5 Infusion Systems on a constant currency basis (non-GAAP)$672.7 $639.5 $ Change in constant currency$43.7 $22.1 % Change in constant currency6.9 %3.6 %

Infusion Systems revenue increased in 2024, as compared to 2023, primarily due to higher sales of our large volume pump ("LVP") dedicated sets on a larger installed base, as well as growth in our ambulatory hardware and dedicated sets. 

Infusion Systems revenue increased in 2023, as compared to 2022, primarily due to higher sales of our syringe pumps and LVP dedicated sets.