Monitor management's ability to offset the permanent loss of $2.5M in annual revenue from PendoTECH and the China distributor with new product sales and organic growth. The stock's recent 11% price increase since year-end may be overestimating the company's recovery potential.
Price Chart
Executive Summary
Utah Medical Products (UTMD) reported Q1 2026 earnings with revenue of $8.72M, down 10.2% YoY, and EPS of $0.818, down 11.0%. The decline was driven by the expected loss of $857K in sales from two former customers (PendoTECH and a China distributor), partially offset by a 47.4% increase in domestic Filshie device sales. Gross margin improved to 60.6% due to favorable product mix and a one-time inventory adjustment.
Key Financial Metrics
Key Facts
- Q1 2026 revenue was $8,722K, down 10.2% from $9,710K in Q1 2025
- EPS was $0.818, down 11.0% from $0.919 in Q1 2025
- Gross margin improved to 60.6% from 57.0% in Q1 2025
- Operating income declined 18.7% to $2,565K
- Loss of $857K in sales from PendoTECH and China distributor accounted for 87% of the revenue decline
- Domestic Filshie device sales increased 47.4% to $493K
- Company repurchased 2,196 shares in Q1 2026 at an average price of $58.58
Financial Impact
Revenue declined $988K (-10.2%) and EPS declined $0.101 (-11.0%) compared to Q1 2025
Risk Factors
- Permanent loss of $2.5M in annual revenue from two key customers
- Increased litigation expenses and U.S. healthcare costs pressured operating expenses
- Management's projection of offsetting lost revenue with new products carries substantial uncertainty
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001096906-26-000602 |
| Document: utmd-20260423_8k.htm | 0001096906-26-000602 |
| Document: 0001096906-26-000602-index-headers.html | 0001096906-26-000602 |
| Document: 0001096906-26-000602-index.html | 0001096906-26-000602 |
| Document: 0001096906-26-000602.txt | 0001096906-26-000602 |
| 8-K Data (Synthetic) | 0001096906-26-000602 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 31, 2026 4w ago | 8-K | $71.13 $74.95 | ▲ +5.37% | ▲ +5.56% | $74.31 (+4.47%) |
Jul 23, 2026 10w ago | 8-K | $64.18 $71.42 | ▼ −11.28% | ▼ −7.97% | $74.31 (−15.78%) |
Apr 23, 2026 23w ago | 8-K | $67.87 $64.17 | ▲ +5.45% | ▲ +10.09% | $74.31 (−9.49%) |
US Market Status
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