Company: UFPT
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050425
Chunk: 73

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 Benefits46,984 38,936 133,857 94,122 Depreciation and amortization4,874 4,027 14,227 10,058 Interest expense, net2,393 3,475 7,873 4,683 Other segment items (a)16,662 16,005 48,497 39,616 Income before income tax provision21,064 21,219 62,971 53,926 Income tax provision4,681 4,858 12,224 11,320 Segment net income$16,383 $16,361 $50,747 $42,606 Segment total assets (b)$652,821 (a)Other segment items include (production overhead, stock compensation, professional fees, and other SG&A expenses).(b)See Condensed Consolidated Balance Sheet for details.Information about Geographic AreasNet sales shipped to customers outside of the United States comprised approximately 15.0% and 16.4% of the Company’s consolidated net sales for the three and nine months ended September 30, 2025, respectively. Net sales shipped to customers outside of the United States comprised approximately 14.7% and 17.1% of the Company’s consolidated net sales for the three and nine months ended September 30, 2024, respectively. Approximately 36.9% of all long-lived assets are located outside of the United States.Information about Major CustomersNet sales to two customers comprised approximately 27.1% and 17.1% of the Company’s consolidated net sales for the three months ended September 30, 2025, respectively. Net sales to two customers comprised approximately 25.3% and 20.4% of the Company’s consolidated net sales for the nine months ended September 30, 2025, respectively. Net sales to two customers comprised approximately 26.7% and 24.0%, respectively, of the Company’s consolidated net sales for the three months ended September 30, 2024. Net sales to two customers comprised approximately 30.3% and 12.4%, respectively, of the Company’s consolidated net sales for the nine months ended September 30, 2024.On September 30, 2025, two customers represented approximately 21.3% and 14.9% of gross accounts receivable, respectively. On December 31, 2024, one customer represented approximately