Company: ICUI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000883984-25-000030
Chunk: 7

Company: ICU MEDICAL INC/DE
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 7
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 months ended June 30, 2025 and 2024, the percentages of each income statement caption in relation to total revenue: 

Three months ended June 30,Six months ended June 30, 2025202420252024Total revenues100 %100 %100 %100 %Gross profit38 %35 %36 %34 %Selling, general and administrative expenses29 %27 %27 %27 %Research and development expenses4 %4 %4 %4 %Restructuring, strategic transaction and integration expenses3 %3 %3 %3 %Change in fair value of contingent earn-out— %— %— %— %Other operating (income) expense, net— %— %— %— %Total operating expenses36 %34 %34 %34 %Income (loss) from operations2 %1 %2 %— %Interest expense, net(4)%(4)%(4)%(4)%Other income (expense), net— %(1)%— %— %Gain on sale of business8 %— %4 %— %Income (Loss) before income taxes and equity in earnings of unconsolidated affiliates6 %(4)%2 %(4)%Provision for income taxes— %— %— %— %Net income (loss) from consolidated companies6 %(4)%2 %(4)%

Seasonality/Quarterly Results 

                There are no significant seasonal aspects to our business. We can experience fluctuations in net sales as a result of variations in the ordering patterns of our largest customers, which may be driven more by production scheduling and customer inventory levels, and less by seasonality. Our expenses often do not fluctuate in the same manner as net sales, which may cause fluctuations in operating income that are disproportionate to fluctuations in our revenue.  

Non-GAAP Financial Measures

In addition to comparing changes in revenue on a U.S. GAAP basis, we also compare the changes in revenue from one period to another using constant currency. The presentation of revenues on a constant currency basis is a non-GAAP financial measure that excludes the impact of fluctuations in foreign currency exchange rates that occurred between the comparative periods. We provide constant currency information to enhance the visibility of underlying business trends, excluding the effects of changes in foreign currency translation rates. We believe this information is