Company: UFPT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001171843-25-003049
Chunk: 94

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 94
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b)

			$
			642,642

			(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 Areas

Net sales shipped to customers outside of the United States comprised approximately 17.3%, and 18.4% of the Company’s consolidated net sales for the three months ended March 31, 2025 and 2024, respectively. Approximately 22.1% of all long-lived assets are located outside of the United States.

Information about Major Customers

Net sales to two customers comprised approximately 24.0% and 21.4%, respectively, of the Company’s consolidated net sales for the three months ended March 31, 2025. Net sales to one customer comprised approximately 32.2% of the Company’s consolidated net sales for the three months ended March 31, 2024.

On March 31, 2025, two customers represented approximately 25.4% and 12.9% of gross accounts receivable, respectively. On March 31, 2024, one customer represented approximately 18.4% of gross accounts receivable.

The Company’s products are primarily sold to customers within the Medical and Non-medical markets. Sales by market for the three months ended March 31, 2025 and 2024 are as follows (in thousands):

			Three Months Ended March 31,

			2025

			2024 (a)

			Market

			Net Sales

			%

			Net Sales

			%

			Medical

			$
			135,416

			91.4
			%
			 
			$
			90,037

			85.7
			%

			Non-medical

			12,732

			8.6
			%

			14,972

			14.3
			%

			Net Sales

			$
			148,148

			100.0
			%
			 
			$
			105,009

			100.0
			%

(a)    Note – This table has been updated to conform to the current year presentation.

21

			(14)

			Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill for