Financial Data and Key Metrics Changes - The company's Q3 2020 GAAP revenue was $319 million, up 4% from $308 million in the previous year, and adjusted revenue was $303 million, a 4% increase from $291 million year-over-year [37][38] - Adjusted EBITDA decreased 1% to $62 million compared to $63 million last year, and adjusted diluted earnings per share were $1.90, up from $1.65 in the previous year [43][44] Business Line Data and Key Metrics Changes - Infusion Consumables revenue was $116 million, a 4% decrease year-over-year on a constant currency basis, while Infusion Systems generated $88 million, reflecting 12% growth on a constant currency basis [13][16] - Infusion Solutions reported $86 million in adjusted revenue, marking a 6% year-over-year growth [20] Market Data and Key Metrics Changes - The U.S. market experienced 7% year-over-year growth, while international markets, particularly in Latin America and Canada, faced significant declines [11][12] - The company noted that the U.S. market showed sequential improvement each month of the quarter, contrasting with the flat performance in Europe [28][29] Company Strategy and Development Direction - The company aims to improve its position in differentiated businesses such as IV Consumables and IV Systems while stabilizing its less differentiated IV Solutions segment [32][33] - The management emphasized the importance of supply chain resiliency and diversity in the current environment, which has been highlighted by the pandemic [35] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the ongoing impact of the pandemic on hospital admissions and the overall operating environment, indicating that the net effect of the pandemic could be neutral to down in earnings [31][32] - The company remains optimistic about its competitive positioning and is focused on executing its strategy while maintaining liquidity [36][52] Other Important Information - The company has seen a reduction in restructuring and integration costs, contributing to improved cash flow generation [44][49] - The management highlighted the importance of maintaining higher inventory levels to meet potential surges in customer demand due to COVID-19 [46] Q&A Session Summary Question: What is the scale of the backlog for implementations? - Management indicated that the backlog varies by business unit, with consumables implementations moving more easily than hardware, which requires on-site presence [55][56] Question: What are the expectations for gross margin recovery? - Management noted that the primary driver of gross margins is the total consumables mix, and while there are some improvements expected, the focus remains on increasing disposable sales [57][58] Question: How does the M&A environment look currently? - Management expressed interest in deploying capital for responsible acquisitions but emphasized the need for returns and careful consideration [60] Question: What is the baseline for IV Solutions going forward? - Management indicated that IV Solutions is expected to stabilize around an $80 million quarterly business, acknowledging the volatility due to COVID-19 [67] Question: How is the competitive dynamic evolving? - Management noted an increase in conversations and opportunities compared to earlier in the year, although decision-making remains slow [71] Question: What is the impact of the pandemic on international markets? - Management highlighted significant declines in Latin America and Canada, with the latter experiencing a major slowdown [74]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File No.: 001-34634 ICU MEDICAL, INC. (Exact name of registrant as specified in its charter) Delaware 33-0022692 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC ...

| --- | --- | --- | --- | |-------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | ICU Medical, Inc. Q3 2020 Conference Call | | | | | | | | | | Presentation | | | | Disclosures > Any statement concerning Management's expectation with respect to future results is a forward looking statement based upon the best information currently available to Management and assumptions Management believes are reasonable, but Management does not intend the statement to be a repr ...

Revenue Performance (Q2 2020) - Total revenue decreased by 0% year-over-year (YoY) to $289 million[8], or increased by 1% on a constant currency basis[8] - Infusion Consumables revenue decreased by 6% YoY to $111 million[8], or decreased by 5% on a constant currency basis[8] - IV Solutions revenue decreased by 7% YoY to $74 million[8], both on a reported and constant currency basis[8] - Infusion Systems revenue increased by 12% YoY to $92 million[8], or increased by 15% on a constant currency basis[8] - Critical Care revenue increased by 14% YoY to $12 million[8], both on a reported and constant currency basis[8] Half Year (Six Months Ended June 30, 2020) Financials - GAAP net sales decreased from $312.282 million to $303.379 million[10] - Non-GAAP net sales decreased from $290.039 million to $289.041 million[10] - GAAP gross profit decreased from $103.869 million to $106.284 million[10] - Non-GAAP gross profit decreased from $122.056 million to $108.575 million[10] - GAAP Gross Profit % Sales increased from 33% to 35%[10] - Non-GAAP Gross Profit % of Non-GAAP Net Sales decreased from 42% to 38%[10]

ICU Medical, Inc. (NASDAQ:ICUI) Q2 2020 Earnings Conference Call August 10, 2020 4:30 PM ET Company Participants John Mills - Investor Relations, ICR Vivek Jain - Chairman & Chief Executive Officer Brian Bonnell - Chief Financial Officer Conference Call Participants Jayson Bedford - Raymond James Larry Solow - CJS Securities Matthew Mishan - KeyBanc Operator Ladies and gentlemen, thank you for your standing by. And welcome to Q2, 2020 ICU Medical Inc. Earnings Conference Call. At this time, all participants ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File No.: 001-34634 ICU MEDICAL, INC. (Exact name of registrant as specified in its charter) | Delaware | | | 33-0022692 | | --- | --- | --- | --- | | (St ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File No.: 001-34634 ICU MEDICAL, INC. (Exact name of registrant as specified in its charter) Delaware 33-0022692 (State or other jurisdiction of (I.R.S. ...

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Commission File No. 001-34634 ICU MEDICAL, INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R. ...

Revenue Performance - Total revenue for the three months ended September 30, 2019, was $307.5 million, a decrease from $327.2 million in the same period of 2018 [127]. - Infusion Consumables revenue for the three months ended September 30, 2019, was $119.8 million, an increase of 1.7% compared to $117.8 million in 2018 [132]. - Infusion Consumables revenue for the nine months ended September 30, 2019, decreased to $358.0 million from $361.5 million in 2018, a decline of 1.0% [132]. - IV Solutions revenue for the three months ended September 30, 2019, was $98.2 million, a decrease of $16.2 million or 14.2% compared to the same period in 2018 [134]. - Infusion Systems revenue for the nine months ended September 30, 2019, was $244.5 million, down $18.8 million or 7.1% from the prior year [135]. - Critical Care revenue for the three months ended September 30, 2019, was $10.6 million, a decrease of $2.9 million or 21.5% compared to the same period in 2018 [136]. - Domestic revenue accounted for 72% of total revenue for the three months ended September 30, 2019, while international revenue was 28% [127]. - Infusion Systems represented 26% of total revenue for the three months ended September 30, 2019, consistent with 25% in 2018 [127]. Financial Metrics - Gross margin for the three months ended September 30, 2019, was 39%, down from 41% in the same period of 2018 [131]. - Gross margins for the three months ended September 30, 2019, were 38.6%, down from 41.1% in the same period in 2018 [137]. - Selling, general and administrative expenses for the three months ended September 30, 2019, were 21%, a decrease from 24% in 2018 [131]. - SG&A expenses for the three months ended September 30, 2019, were $65.9 million, a decrease of $10.7 million or 14.0% compared to the same period in 2018 [139]. - Research and development expenses remained consistent at 4% for both the three and nine months ended September 30, 2019, and 2018 [131]. - R&D expenses for the nine months ended September 30, 2019, were $36.0 million, a decrease of $3.3 million or 8.4% compared to the same period in 2018 [142]. - The company reported a net income of 9% for the three months ended September 30, 2019, compared to 3% in the same period of 2018 [131]. Cash Flow and Investments - Cash, cash equivalents, and investments decreased by $47.3 million from $384.1 million at December 31, 2018 to $336.8 million at September 30, 2019 [152]. - Net cash provided by operations for the nine months ended September 30, 2019 was $53.1 million, with net income and adjustments contributing $156.9 million [153]. - The net cash used in operations due to changes in operating assets and liabilities was $103.9 million, including a $30.9 million increase in inventories and a $32.5 million increase in accounts receivable [153]. - The net cash used in financing activities for the nine months ended September 30, 2019 was $14.2 million, a decrease of $22.3 million compared to the previous year [162]. - The company has a five-year Senior Secured Revolving Credit Facility of $150.0 million, with an accordion feature allowing for increased borrowing capacity [167]. - As of September 30, 2019, the company was in compliance with all financial covenants [170]. Strategic Initiatives - The company aims to enhance growth through increased sales and marketing efforts, although success is not guaranteed [129]. - The company plans to increase marketing efforts and expand production facilities, which may enhance manufacturing efficiencies and cost savings [1]. - The company is focused on the development and marketing of new products, which is critical for future growth [179]. - There is a dependence on a small number of customers, which poses risks to revenue stability [1]. - The company anticipates potential fluctuations in quarterly results due to business seasonality and customer ordering patterns [1]. - The company is exploring future investment alternatives to enhance liquidity and capital resources over the next twelve months [1]. Risks and Challenges - The company is subject to various risks including foreign exchange fluctuations and increases in labor costs [179]. - The outcome of litigation and regulatory approvals may significantly impact the company's operations and financial results [179]. - The effective tax rate for the nine months ended September 30, 2019, was 14%, compared to (4.0)% in the same period in 2018 [149]. - Other income for the nine months ended September 30, 2019, was $4.7 million, compared to a loss of $3.5 million in the same period in 2018 [148]. - The effective tax rate for the nine months ended September 30, 2018 was impacted by a discrete tax benefit of $12.8 million related to stock option exercises and a contract settlement tax benefit of $5.7 million [151]. Currency Exposure - The net Euro asset position was approximately €48.3 million, with a potential impact of $5.3 million on consolidated amounts from a 10% change in Euro to USD conversion [184]. - The net Canadian dollar asset position was approximately $37.5 million, with a potential impact of $2.6 million from a 10% change in Canadian dollar to USD conversion [184]. - The company does not currently hedge its Canadian dollar or Euro foreign currency exposures, but it does hedge a portion of its manufacturing spend in Mexican Peso [185].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2019 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File No.: 001-34634 ICU MEDICAL, INC. (Exact name of Registrant as specified in its charter) Delaware 33-0022692 (State or other jurisdiction of (I.R.S. E ...