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

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 10
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			2,112

			Total net sales

			$
			151,176

			$
			110,177

			$
			299,324

			$
			215,186

Contract Balances

The timing of revenue recognition may differ from the time of invoicing to customers. When invoicing occurs prior to revenue recognition, the Company has contract liabilities included within “deferred revenue” on the condensed consolidated balance sheet.

13

The following table presents opening and closing balances of contract liabilities for the six months ended June 30, 2025 and 2024 (in thousands):

			Contract Liabilities

			Six Months Ended
			June 30, 

			2025

			2024

			Deferred revenue - beginning of period

			$
			4,667

			$
			6,616

			Increases due to consideration received from customers

			3,129

			1,238

			Revenue recognized

			(3,187
			)

			(3,302
			)

			Deferred revenue - end of period

			$
			4,609

			$
			4,552

Revenue recognized during the six months ended June 30, 2025 and 2024 from amounts included in deferred revenue at the beginning of the period were approximately $2.0 million and $3.0 million, respectively.

When invoicing occurs after revenue recognition, the Company has contract assets, which are included within “receivables, net” on the condensed consolidated balance sheets.

The following table presents opening and closing balances of contract assets for the six months ended June 30, 2025 and 2024 (in thousands):

			Contract Assets

			Six Months Ended
			June 30, 

			2025

			2024

			Unbilled Receivables - beginning of period

			$
			192

			$
			114

			Increases due to revenue recognized, not invoiced to customers

			2,091

			1,121

			Decreases due to customer invoicing

			(1,939
			)

			(1,053
			)

			Unbilled Receivables - end of period

			$
			344

			$
			182

			(5