Company: ICUI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000883984-25-000030
Chunk: 161

Company: ICU MEDICAL INC/DE
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 161
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% and 33.8% for the three and six months ended June 30, 2024, respectively. The increases in gross margin for the three and six months ended June 30, 2025, as compared to the same periods in the prior year, were primarily driven by the impact of the sale of a 60% interest of our IV Solutions business on May 1, 2025, a lower margin business. Gross margin also increased as a result of price increases, higher production levels, the impact of foreign exchange, lower supply chain costs and the realization of integration synergies. These improvements were partially offset by an increase in tariff costs.

Selling, General and Administrative (“SG&A”) Expenses 

    The following table summarizes our total SG&A Expenses (in millions, except percentages):

Three months ended June 30,Six months ended June 30,20252024$ Change% Change20252024$ Change% ChangeSG&A$159.4 $159.5 $(0.1)(0.1)%$316.6 $317.2 $(0.6)(0.2)%

SG&A expenses slightly decreased for the three months ended June 30, 2025, as compared to the same period in the prior year, primarily due to a decrease of $2.6 million in depreciation and amortization expense, $2.4 million in compensation costs, and $1.7 million in dealer fees, which when combined with other smaller category increases, were mostly offset by an increase of $2.9 million in stock based compensation and $2.6 million in legal fees. Depreciation and amortization expense decreased primarily due to the disposal of certain assets related to the sale of a 60% interest of our IV Solutions business (see Note 4: Assets Held For Sale and Disposal of Business to our accompanying condensed consolidated financial statements). Compensation costs decreased primarily due to service fee income recorded in the same line as the related personnel expenses for services provided to the joint venture (see Note 4: Assets Held For Sale and Disposal of Business to our accompanying condensed consolidated financial statements). Dealer fees decreased due to the timing of end customer sales. Stock based compensation increased due to a change in the probability of meeting a certain earning potential related to a performance equity award. Legal fees increased due to services performed during the current year related to various legal matters. 

SG&A expenses slightly decreased for the six months ended June 30, 2025, as