ICU Medical Files Q3 2024 10-Q Report

TL;DR

ICU Medical filed its Q3 2024 10-Q. Check financials.

AI Summary

ICU Medical, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported its financial results for the third quarter of fiscal year 2024. Key financial data and operational details are presented in this filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for ICU Medical, Inc., crucial for evaluating the company's current health and future prospects.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant risks or opportunities.

Key Numbers

• N/A — Revenue (Specific revenue figures are not detailed in this header information.)
• N/A — Net Income (Specific net income figures are not detailed in this header information.)
• N/A — Assets (Specific asset figures are not detailed in this header information.)

Key Players & Entities

• ICU MEDICAL INC/DE (company) — Filer
• 20240930 (date) — Period of Report
• 20241112 (date) — Filing Date
• 949-366-2183 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.10 — ich registered Common stock, par value $0.10 per share ICUI The Nasdaq Stock Market

Filing Documents

• icui-20240930.htm (10-Q) — 1862KB
• exhibit23.htm (EX-2.3) — 512KB
• icui-ex31193024.htm (EX-31.1) — 11KB
• icui-ex31293024.htm (EX-31.2) — 11KB
• icui-ex32193024.htm (EX-32.1) — 11KB
• 0000883984-24-000042.txt ( ) — 10878KB
• icui-20240930.xsd (EX-101.SCH) — 69KB
• icui-20240930_cal.xml (EX-101.CAL) — 56KB
• icui-20240930_def.xml (EX-101.DEF) — 320KB
• icui-20240930_lab.xml (EX-101.LAB) — 703KB
• icui-20240930_pre.xml (EX-101.PRE) — 530KB
• icui-20240930_htm.xml (XML) — 1901KB

Forward Looking Statements

Forward Looking Statements 1

Financial Information

PART I. Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive (Loss) Income for the Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 10

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 38

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 51

Controls and Procedures

Item 4. Controls and Procedures 52

Other Information

PART II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 52 Item1A. Risk Factors 53

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 53

Other Information

Item 5. Other Information 54

Exhibits

Item 6. Exhibits 54 Signature 56

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements, other than statements of present and historical fact, contained in this Quarterly Report on Form 10-Q, including, without limitation, statements regarding: our future results of operations and financial position, business strategy and approach; the projected timeline as well as the anticipated benefits and costs associated with our purchase agreement with OPF (as defined below); expected capital expenditures; anticipated consumer demand; supply chain constraints; the expected impact of macroeconomic developments, such as inflation and interest rates, and new accounting and tax regulations; as well as plans and objectives of management for future operations, are forward-looking statements. Without limiting the foregoing, in some cases, you can identify forward-looking statements by terms such as "aim," "may," "will," "should," "expect," "exploring," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential," "seeks," or "continue" or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. No forward-looking statement is a guarantee of future results, performance, or achievements, and one should avoid placing undue reliance on such statements. The forward looking statements in this Quarterly Report on Form 10-Q are only predictions and are based largely on our current expectations and projections about future events and financial trends that we believe may a

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item1. Financial Statements (Unaudited) ICU MEDICAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par value data and treasury shares) September 30, 2024 December 31, 2023 (Unaudited) (1) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 312,512 $ 254,222 Short-term investment securities — 501 TOTAL CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENT SECURITIES 312,512 254,723 Accounts receivable, net of allowance for doubtful accounts $ 9,553 at September 30, 2024 and $ 11,064 at December 31, 2023 173,983 161,566 Inventories 692,038 709,360 Prepaid income taxes 5,787 21,983 Prepaid expenses and other current assets 73,735 73,640 TOTAL CURRENT ASSETS 1,258,055 1,221,272 PROPERTY, PLANT AND EQUIPMENT, net 595,627 612,909 OPERATING LEASE RIGHT-OF-USE ASSETS 59,757 69,909 GOODWILL 1,478,293 1,472,446 INTANGIBLE ASSETS, net 785,823 870,588 DEFERRED INCOME TAXES 40,646 37,295 OTHER ASSETS 86,837 94,020 TOTAL ASSETS $ 4,305,038 $ 4,378,439 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 168,562 $ 150,030 Accrued liabilities 325,728 268,215 Current portion of long-term debt 51,000 51,000 Income tax payable 2,767 7,714 Contingent earn-out liability 1,500 4,879 TOTAL CURRENT LIABILITIES 549,557 481,838 CONTINGENT EARN-OUT LIABILITY — 3,991 LONG-TERM DEBT 1,543,342 1,577,770 OTHER LONG-TERM LIABILITIES 80,389 100,497 DEFERRED INCOME TAXES 48,538 55,873 INCOME TAX LIABILITY 34,625 35,060 COMMITMENTS AND CONTINGENCIES (Note 18) STOCKHOLDERS' EQUITY: Convertible preferred stock, $ 1.00 par value; Authorized — 500 shares; Issued and outstanding — none — — Common stock, $ 0.10 par value; Authorized — 80,000 shares; Issued — 24,461 shares at September 30, 2024 and 24,144 shares at December 31, 2023; and outstanding — 24,459 shares at September 30, 2024 and 24,141 shares at December 31, 2023 2,446 2,414 Additional paid-in capital 1,394,799

View Full Filing

View this 10-Q filing on SEC EDGAR