Company: UFPT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001171843-25-005268
Chunk: 45

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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	$
			77

			$
			37,418

			$
			273,765

			$
			(497
			)

			30

			$
			(587
			)
			 
			$
			310,176

The accompanying notes are an integral part of these consolidated financial statements.

5

UFP Technologies, Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

			Six Months Ended

			June 30, 

			2025

			2024

			Cash flows from operating activities:

			Net income

			$
			34,364

			$
			26,245

			Adjustments to reconcile net income to net cash provided by operating activities:

			Depreciation and amortization

			9,353

			6,031

			(Gain) loss on disposal of property, plant & equipment

			(11
			)

			7

			Share-based compensation

			4,497

			3,249

			Change in fair value of contingent consideration

			526

			476

			Equity method investment net earnings

			(98
			)

			-

			Deferred income taxes

			1,706

			304

			Changes in operating assets and liabilities:

			Receivables, net

			1,264

			4,230

			Inventories

			3,947

			(7,349
			)

			Prepaid expenses and other current assets

			(335
			)

			(1,010
			)

			Other assets

			(3,658
			)

			951

			Accounts payable

			(2,329
			)

			700

			Accrued expenses

			(6,073
			)

			(2,053
			)

			Deferred revenue

			(75
			)

			(2,064
			)

			Income taxes payable

			3,154

			(398
			)

			Non-qualified deferred compensation plan and other liabilities

			(7,091
			)

			(6,951
			)

			Net cash