Company: UFPT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001171843-25-005268
Chunk: 21

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 21
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 about Geographic Areas

Net sales shipped to customers outside of the United States comprised approximately 17.0%, and 17.1% of the Company’s consolidated net sales for the three and six months ended June 30, 2025, respectively. Net sales shipped to customers outside of the United States comprised approximately 18.8% and 18.6% of the Company’s consolidated net sales for the three and six months ended June 30, 2024, respectively. Approximately 36.6% of all long-lived assets are located outside of the United States.

Information about Major Customers

Net sales to two customers comprised approximately 27.4% and 20.3% of the Company’s consolidated net sales for the three months ended June 30, 2025, respectively. Net sales to two customers comprised approximately 24.4% and 22.1% of the Company’s consolidated net sales for the six months ended June 30, 2025, respectively. Net sales to one customer comprised approximately 33.9% and 33.1% of the Company’s consolidated net sales for the three and six months ended June 30, 2024, respectively.

On June 30, 2025, two customers represented approximately 20.7% and 19.1% of gross accounts receivable, respectively. On December 31, 2024, one customer represented approximately 34.0% of gross accounts receivable.

21

The Company’s products are primarily sold to customers within the Medical and Non-medical markets. Sales by market for the three and six months ended June 30, 2025 and 2024 are as follows (in thousands):

			Three Months Ended June 30,

			Six Months Ended June 30,

			2025

			2024 (a)

			2025

			2024 (a)

			Market

			Net Sales

			%

			Net Sales

			%

			Net Sales

			%

			Net Sales

			%

			Medical

			$
			139,335

			92.2
			%
			 
			$
			95,419

			86.6
			%
			 
			$
			274,749

			91.8
			%
			 
			$
			185,456

			86.2
			%

			Non