ICU Medical Announces Fourth Quarter 2024 Results and Provides Fiscal Year 2025 Guidance

Core Insights - ICU Medical, Inc. reported a revenue increase of 7.1% in Q4 2024, reaching $629.8 million compared to $587.9 million in Q4 2023 [2] - The company experienced a GAAP gross profit of $227.3 million in Q4 2024, up from $171.6 million in the same quarter of the previous year, resulting in a gross margin improvement from 29.2% to 36.1% [2] - Despite the revenue growth, ICU Medical reported a GAAP net loss of $(23.8) million in Q4 2024, compared to a net loss of $(17.1) million in Q4 2023 [2][4] Financial Performance - Adjusted diluted earnings per share for Q4 2024 was $2.11, an increase from $1.57 in Q4 2023 [2] - Adjusted EBITDA for Q4 2024 was $105.5 million, compared to $86.3 million in Q4 2023, reflecting a significant year-over-year increase [2] - For the fiscal year 2024, total revenues reached $2.38 billion, up from $2.26 billion in 2023, marking a growth of $122.9 million [2][4] Product Line Performance - Revenue from consumables in Q4 2024 was $268.1 million, an increase of $14.1 million from $254.0 million in Q4 2023 [4] - Infusion systems revenue rose to $171.7 million in Q4 2024, up by $6.6 million from $165.1 million in Q4 2023 [4] - Vital care product line revenue increased by $21.3 million to $190.0 million in Q4 2024, compared to $168.7 million in Q4 2023 [4] Fiscal Year 2025 Guidance - The company estimates a GAAP net loss for fiscal year 2025 to be between $(45) million and $(28) million, with a projected net loss per share ranging from $(1.81) to $(1.11) [5] - Excluding the impact from the IV Solutions joint venture, adjusted EBITDA for fiscal year 2025 is expected to be between $395 million and $425 million, with adjusted EPS projected to be between $6.55 and $7.25 [6] Cash Flow and Balance Sheet - As of December 31, 2024, cash and cash equivalents increased to $308.6 million from $254.2 million a year earlier [11] - The total assets of the company decreased to $4.20 billion from $4.38 billion as of December 31, 2023 [11] - Current liabilities increased to $556.2 million from $481.8 million in the previous year [11]