Utah Medical Q2 revenue falls 14% on lost customers

Overview

• US medical device maker's Q2 revenue fell 14% yr/yr due to loss of major customers

• Q2 diluted EPS declined 10% yr/yr as new sales failed to offset lost business

• Company saw higher litigation costs and slight contraction in gross margin

Outlook

• Utah Medical Products projects 2026 sales to decline 10-13% compared to 2025

• Company expects 2026 litigation expenses to be less than $1.6 mln

• Company says substantial uncertainty remains regarding sales development for 2026

Result Drivers

• LOSS OF MAJOR CUSTOMERS - Co said lower sales were mainly due to lack of sales to its two previously largest customers, which accounted for most of the revenue decline

• SLOW NEW SALES - Sales to new biopharma OEM customers were slower to develop than expected, with only $211 in new sales in 1H 2026

• HIGHER LITIGATION COSTS - Increased litigation expenses contributed to lower operating income in Q2

Company press release: ID:nACSwrZ0ma

Key Details

Reuters Recommended Reads

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)