Company: ICUI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000883984-25-000035
Chunk: 175

Company: ICU MEDICAL INC/DE
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 175
---
non-GAAP)$172.6 $509.1 $ Change in constant currency$12.8 $28.4 % Change in constant currency8.0 %5.9 %

Infusion Systems revenue increased for the three and nine months ended September 30, 2025, as compared to the same periods in the prior year, primarily due to increased sales of LVP hardware and dedicated sets.

Vital Care

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

Three months ended September 30,Nine months ended September 30,20252024$ Change% Change20252024$ Change% ChangeVital Care (GAAP)$78.0 $164.5 $(86.5)(52.6)%$358.2 $500.8 $(142.6)(28.5)%Impact of foreign currency exchange rate changes(0.9)(0.8)Vital Care on a constant currency basis (non-GAAP)$77.1 $357.4 $ Change in constant currency$(87.4)$(143.4)% Change in constant currency(53.1)%(28.6)%

Vital Care revenue decreased for the three and nine months ended September 30, 2025, as compared to the same periods in the prior year, primarily due to lower IV Solutions sales resulting from the sale of a controlling ownership interest in our IV Solutions business on May 1, 2025 (see Note 4: Assets Held For Sale and Disposal of Business to our accompanying condensed consolidated financial statements).

46

Gross Margins 

    For the three and nine months ended September 30, 2025, gross margins were 37.4% and 36.6%, respectively, as compared to 34.8% and 34.1% for the three and nine months ended September 30, 2024, respectively. The increases in gross margin for the three and nine months ended September 30, 2025, as compared to the same periods in the prior year, were primarily driven by the impact of the sale of a 60% interest of our IV Solutions business on May 1, 2025, a lower margin business. Gross margin also increased as a result of price increases, the impact of foreign exchange rates, lower supply chain costs and the realization of integration synergies. These improvements were partially offset by an increase in tariff costs of $9.