Company: ICUI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000883984-25-000030
Chunk: 52

Company: ICU MEDICAL INC/DE
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 52
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Contract LiabilitiesBeginning balance, January 1, 2025$39,403 Equipment revenue recognized(33,525)Equipment revenue deferred due to implementation30,365 Software revenue recognized(6,348)Software revenue deferred due to implementation2,473 Government grant income recognized(1) (1,024)Other deferred revenue recognized(1,156)Other deferred revenue 390 Ending balance, June 30, 2025$30,578 Beginning balance, January 1, 2024$42,177 Equipment revenue recognized(16,951)Equipment revenue deferred due to implementation20,593 Software revenue recognized(10,232)Software revenue deferred due to implementation10,427 Government grant income recognized(1) (1,029)Other deferred revenue recognized(1,602)Other deferred revenue423 Ending balance, June 30, 2024$43,806 ____________________________(1) The government grant income deferred is amortized over the life of the related depreciable asset as a reduction to depreciation expense.  Our contract liabilities are included in accrued liabilities or other long-term liabilities in our condensed consolidated balance sheet based on the expected timing of revenue recognition.    As of June 30, 2025, revenue from remaining performance obligations is as follows:Recognition Timing(in thousands)< 12 Months> 12 MonthsEquipment deferred revenue$12,295 $403 Software deferred revenue6,670 1,877 Government grant deferred income(1) 2,064 6,318 Other deferred revenue(2) 890 61 Total $21,919 $8,659 _________________________________(1) The government grant deferred income is amortized over the life of the related depreciable asset as a reduction to depreciation expense.(2) Other deferred revenue includes pump development programs, purchased training and extended warranty.

Note 6: Segment Data

The Company has a single operating and reportable segment. The Company derives revenues from the manufacture and sale of our medical products which are used in infusion therapy, vascular access, and vital care applications. Our product portfolio includes ambulatory, syringe, and large volume IV pumps and safety software; dedicated and non-dedicated IV sets, needlefree IV connectors, IV catheters, sharps safety products, and sterile IV solutions; closed system transfer devices and pharmacy compounding systems; as well as a range of respiratory, anesthesia, patient monitoring, and temperature management 

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ICU MED