UTMD

MKT CAP:$217M

Utah Medical Products, Inc.

Market Cap

$217M

Healthcare·Medical - Instruments & Supplies·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$69.75+$13.25 (+23.46%)

Apr 21, 2026

Company Details

Utah Medical Products, Inc. develops, manufactures, and distributes medical devices for the healthcare industry. The company offers fetal monitoring accessories, vacuum-assisted delivery systems, and other labor and delivery tools; DISPOSA-...

CEO

Kevin L. Cornwell

IPO Date

Mar 8, 1999

Website

www.utahmed.com

Key Metrics TTM

Revenue

$38M

-4.4% YoY

Net Income

$11M

EPS (Diluted)

$3.38

Free Cash Flow

$14M

Revenue / Share

$11.78

Gross Margin

53.6%

Operating Margin

28.8%

Net Margin

28.9%

FCF Margin

38.2%

P/S

5.8x

P/E

20.0x

Earnings Reports

Q1 2026

Apr 23, 2026

NEW

$9M-10.2%EPS $0.82

FY 2025

Mar 27, 2026

$39M-5.8%EPS $3.48

Q4 2025

Mar 27, 2026

$9M-1.2%EPS $0.80

Q3 2025

Nov 14, 2025

$10M-1.9%EPS $0.82

Q2 2025

Aug 12, 2025

$10M-4.3%EPS $0.94

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$13M	$8M	$5M
Q3 22	$13M	$8M	$5M
Q4 22	$14M	$8M	$5M
Q1 23	$13M	$8M	$4M
Q2 23	$13M	$6M	$4M
Q3 23	$13M	$6M	$4M
Q4 23	$12M	$7M	$4M
Q1 24	$11M	$7M	$4M
Q2 24	$10M	$6M	$3M
Q3 24	$10M	$5M	$3M
Q4 24	$9M	$5M	$3M
Q1 25	$10M	$6M	$3M
Q2 25	$10M	$5M	$3M
Q3 25	$10M	$5M	$3M
Q4 25	$9M	$5M	$2M
Q1 26	$9M	$5M	$3M

Valuation

Quarter	P/S	P/E
Q2 22	6.3x	20.3x
Q3 22	6.1x	19.7x
Q4 22	6.1x	19.4x
Q1 23	6.5x	19.8x
Q2 23	6.5x	19.6x
Q3 23	6.0x	18.4x
Q4 23	5.9x	17.8x
Q1 24	5.2x	15.6x
Q2 24	5.0x	14.8x
Q3 24	5.1x	14.9x
Q4 24	5.0x	14.9x
Q1 25	4.7x	14.3x
Q2 25	4.9x	15.0x
Q3 25	5.4x	17.9x
Q4 25	4.9x	16.8x
Q1 26	5.7x	19.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$5M	$5M
Q2 22	$5M	$5M
Q3 22	$6M	$5M
Q4 22	$6M	$6M
Q1 23	$7M	$7M
Q2 23	$5M	$5M
Q3 23	$5M	$5M
Q4 23	$5M	$5M
Q1 24	$5M	$5M
Q2 24	$3M	$3M
Q3 24	$4M	$4M
Q4 24	$3M	$3M
Q1 25	$4M	$4M
Q2 25	$3M	$3M
Q3 25	$4M	$4M
Q4 25	$3M	$3M

Capital Expenditures

Quarter	CapEx
Q1 22	$237.0K
Q2 22	$222.0K
Q3 22	$321.0K
Q4 22	$38.0K
Q1 23	$43.0K
Q2 23	$320.0K
Q3 23	$186.0K
Q4 23	$90.0K
Q1 24	$22.0K
Q2 24	$115.0K
Q3 24	$137.0K
Q4 24	$9.0K
Q1 25	$184.0K
Q2 25	$51.0K
Q3 25	$27.0K
Q4 25	$109.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+6.5%	+6.8%
Q3 22	+3.0%	+4.5%
Q4 22	+5.1%	+9.2%
Q1 23	+1.6%	+3.6%
Q2 23	-4.2%	+0.8%
Q3 23	-3.5%	+9.2%
Q4 23	-9.1%	-1.4%
Q1 24	-9.4%	-7.7%
Q2 24	-19.2%	-17.5%
Q3 24	-20.0%	-22.0%
Q4 24	-25.7%	-25.8%
Q1 25	-14.4%	-12.1%
Q2 25	-4.3%	-2.9%
Q3 25	-1.9%	+8.1%
Q4 25	-1.2%	+6.0%
Q1 26	-10.2%	-6.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$43.0K	0.3%
Q2 22	$40.0K	0.3%
Q3 22	$38.0K	0.3%
Q4 22	$62.0K	0.5%
Q1 23	$50.0K	0.4%
Q2 23	$50.0K	0.4%
Q3 23	$53.0K	0.4%
Q4 23	$72.0K	0.6%
Q1 24	$79.0K	0.7%
Q2 24	$52.0K	0.5%
Q3 24	$53.0K	0.5%
Q4 24	$72.0K	0.8%
Q1 25	$82.0K	0.8%
Q2 25	$86.0K	0.9%
Q3 25	$94.0K	1.0%
Q4 25	$111.0K	1.2%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q2 22	$135.0K	—	—	$3M
Q3 22	$112.0K	—	—	$3M
Q4 22	$123.0K	$10M	$2M	—
Q1 23	$144.0K	$876.0K	$387.0K	—
Q2 23	$133.0K	—	—	$2M
Q3 23	$138.0K	—	—	$2M
Q4 23	$146.0K	$9M	$2M	—
Q1 24	$266.0K	$950.0K	$412.0K	—
Q2 24	$255.0K	—	—	$2M
Q3 24	$172.0K	—	—	$2M
Q4 24	$121.0K	$6M	$2M	—
Q1 25	$155.0K	$915.0K	$500.0K	—
Q2 25	$135.0K	—	—	$2M
Q3 25	$167.0K	—	—	$2M
Q4 25	$212.0K	—	—	$2M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$66M	$0	$66M
Q2 22	$66M	$0	$66M
Q3 22	$70M	$0	$70M
Q4 22	$75M	$0	$75M
Q1 23	$81M	$0	$81M
Q2 23	$0	$85M	$85M
Q3 23	$0	$89M	$89M
Q4 23	$93M	$0	$93M
Q1 24	$94M	$0	$94M
Q2 24	$89M	$0	$89M
Q3 24	$88M	$0	$88M
Q4 24	$83M	$0	$83M
Q1 25	$83M	$0	$83M
Q2 25	$82M	$0	$82M
Q3 25	$84M	$0	$84M
Q4 25	$86M	$0	$86M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	4M	-0.4%	-0.1%
Q3 22	4M	-0.4%	-0.7%
Q4 22	4M	+0.0%	-0.9%
Q1 23	4M	+0.0%	-0.8%
Q2 23	4M	+0.1%	-0.3%
Q3 23	4M	0.0%	+0.1%
Q4 23	4M	-0.3%	-0.2%
Q1 24	4M	-0.3%	-0.5%
Q2 24	4M	-2.4%	-2.9%
Q3 24	3M	-1.5%	-4.4%
Q4 24	3M	-2.6%	-6.6%
Q1 25	3M	-2.3%	-8.5%
Q2 25	3M	-1.9%	-8.1%
Q3 25	3M	-1.2%	-7.8%
Q4 25	3M	-0.3%	-5.6%
Q1 26	3M	-0.4%	-3.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$75.4K	178
Q3 22	$72.8K	178
Q4 22	$73.0K	186
Q1 23	$67.3K	186
Q2 23	$69.2K	186
Q3 23	$67.2K	186
Q4 23	$73.0K	169
Q1 24	$67.1K	169
Q2 24	$61.5K	169
Q3 24	$59.2K	169
Q4 24	$59.1K	155
Q1 25	$62.6K	155
Q2 25	$64.2K	155
Q3 25	$63.3K	155
Q4 25	$64.6K	140
Q1 26	$62.3K	140

Revenue / Employee