Financial Data and Key Metrics Changes - The company reported Q4 2020 GAAP revenue of $320 million, a 2% increase from $316 million in the previous year, and adjusted revenue of $309 million, up 4% from $297 million year-over-year [38] - Adjusted EBITDA for Q4 decreased 2% to $60 million compared to $61 million last year, and adjusted diluted EPS was $1.77, down from $1.94 [45][46] - The adjusted gross margin for Q4 was 39%, down from 40% in the same quarter last year, primarily due to the timing of the annual maintenance shutdown [42] Business Line Data and Key Metrics Changes - Infusion Consumables revenue was $123 million in Q4 2020, a 3% increase year-over-year on a constant currency basis [18] - Infusion Systems generated $92 million in adjusted revenue, reflecting an 8% growth on both a reported and constant currency basis [21] - Infusion Solutions had $82 million in adjusted revenue, representing a 1% year-over-year growth [24] Market Data and Key Metrics Changes - The US market experienced an 8% year-over-year growth, driven by higher temporary COVID admissions and new customer onboarding [12] - Europe and Latin America saw sequential improvements, while selected South Asian markets experienced declines [12] Company Strategy and Development Direction - The company aims to continue growing its differentiated businesses, particularly in IV Consumables and IV Systems, while stabilizing its less differentiated IV Solutions segment [32][33] - The focus remains on maintaining operational stability, enhancing supply chain resilience, and preparing for future opportunities as the market normalizes post-COVID [35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of hospital volumes and the potential for growth in 2021, despite uncertainties regarding the timing of a return to normal levels [29][30] - The company anticipates a steady ramp in earnings throughout 2021, driven by the recovery of volumes and implementation of Infusion Systems pumps [55] Other Important Information - The company invested nearly $100 million in CapEx at its Texas site, which helped mitigate infrastructure damage during recent weather events [25] - The company expects adjusted EBITDA for 2021 to be between $245 million and $265 million, with adjusted EPS projected between $6.50 and $7.20 per share [54] Q&A Session Summary Question: Can you provide a sense of the backlog of installations heading into 2021? - Management indicated that they are not quoting a backlog number but noted that they have more competitive wins that have not yet been installed than ever before [63] Question: What is the expectation for gross margin guidance? - Management explained that margins are expected to be negatively impacted due to a higher mix of Infusion Systems hardware installations, which typically have lower margins initially [65] Question: Can you discuss new products the company will focus on in 2021? - Management highlighted several projects on the filing docket for 2021, including software products and new hardware ideas [67]

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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 ...

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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. ...