UTMD Reports Year 2025 and Fourth Quarter Financial Performance

Company maintains strong profit margins despite lower sales in 2025

Jan. 29, 2026 at 8:47am

Got story updates? Submit your updates here. ›

Utah Medical Products, Inc. (UTMD) reported its financial results for 2025, which saw a 5.8% decline in worldwide sales compared to 2024. Despite the lower sales, UTMD was able to maintain strong profit margins, ending the year with $85.8 million in cash and investments. The company cited lower sales in several key categories, including a decrease in OEM sales to PendoTECH and an unexpected cancellation of an order from its China distributor. UTMD also saw a 7% decline in worldwide Filshie Clip System device sales. Looking ahead to 2026, the company expects to offset the loss of those sales with new product introductions and modest growth in its organic business.

Why it matters

UTMD's financial performance in 2025 highlights the company's ability to maintain profitability and a strong balance sheet even in the face of some unexpected sales declines. The results demonstrate UTMD's operational efficiency and resilience, which will be important as the company navigates the changing medical device market in the coming years.

The details

UTMD's 2025 sales decline was driven by three key factors: a 85% decrease in OEM sales of biopharma pressure sensors and accessories to PendoTECH, a 5% decrease in OUS distributor sales including a $431 lower order from its China distributor, and a 7% decline in worldwide Filshie Clip System device sales. The company was able to limit the impact on gross profit margins, which declined from 59.0% in 2024 to 57.1% in 2025, due in part to the low margins on the China distributor sales. Operating expenses remained flat year-over-year, but legal costs associated with Filshie clip litigation in the U.S. were $783 lower in 2025. However, UTMD recognized several unusual G&A expenses totaling $590, including a $395 write-off of cancellation fees from the China distributor and a $195 loss from embezzled funds by its Australia subsidiary manager.

  • UTMD repurchased 148,935 shares during 2025.
  • UTMD paid $3,983 ($1.22/share) in dividends to stockholders in 2025 compared to $4,260 ($1.20/share) in 2024.
  • UTMD's regular quarterly dividend was increased to $0.310 per share starting with a January 2026 payment.

The players

Utah Medical Products, Inc. (UTMD)

A medical device company that develops, manufactures and markets specialty medical devices recognized by clinicians in over one hundred countries around the world.

PendoTECH

A company that UTMD sells OEM biopharma pressure sensors and accessories to.

Got photos? Submit your photos here. ›

What they’re saying

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

The takeaway

UTMD's 2025 financial results demonstrate the company's ability to maintain profitability and a strong balance sheet even in the face of unexpected sales declines. The company's operational efficiency and resilience will be important as it navigates the changing medical device market in the coming years.