ICU MEDICAL INC/DE (ICUI) Company Report

ICU Medical reported Q3 CY2025 revenue of roughly $533–$537 million, which was down approximately 8.9% year-over-year but exceeded Street estimates, and delivered non-GAAP EPS of $2.03.
The company raised its full-year profitability targets, with adjusted EPS guidance implying roughly $7.35–$7.65 (midpoint ≈ $7.50) and adjusted EBITDA guidance near $395–$405 million.
ICU Medical is actively prioritizing deleveraging and interest-cost reduction, having made $273 million in year-to-date debt principal repayments and refinancing to lower annual interest expense by roughly $2 million.
The company reshaped its portfolio via a May 2025 joint venture with Otsuka to focus on higher-margin consumables and infusion systems, with underlying segment performance showing Consumables revenue up ~8% and IV Systems revenue up ~9%.

Nov 7, 2025, 1:02 PM

Morningstar

ICU Medical announces Q3 2025 results and updates 2025 guidance

ICUI

Earnings

Guidance Update

M&A

ICU Medical reported Q3 2025 Adjusted Revenue of $533 million, representing an 8% year-over-year decline but a 5% year-over-year organic growth.
The company updated its 2025 full-year guidance for Adjusted EBITDA to a range of $395 million to $405 million and Adjusted EPS to $7.35 to $7.65.
The Vital Care segment experienced a 52% year-over-year decline in Q3 2025 revenue, largely influenced by the joint venture transaction, with its 2025 full-year guidance projecting ~ (35%) FXN / Flat organic revenue.

Nov 6, 2025, 9:30 PM

Presentation

ICU Medical Reports Q3 2025 Financial Results and Provides Q4 Outlook

ICUI

Earnings

Guidance Update

Revenue Acceleration/Inflection

ICU Medical reported Q3 2025 revenue of $533 million, reflecting 5% organic growth but a -8% reported year-over-year decline due to the deconsolidation of the IV solutions business.
For Q3 2025, the company achieved an adjusted EBITDA of $106 million and EPS of $2.03.
The adjusted gross margin for Q3 2025 was 41%, positively impacted by the IV solutions deconsolidation and a $4 million benefit from settling an Italian payback liability, but reduced by $9 million in tariff expenses.
The company has repaid $273 million in principal year to date.
For Q4 2025, ICU Medical anticipates gross margin to be in the range of 40%-41%, with operating expenses projected at approximately 25.5% of revenue, and expects full-year tariff expense to be around $25 million.

Nov 6, 2025, 9:30 PM

Transcript

ICU Medical Announces Third Quarter 2025 Results and Updates Fiscal Year 2025 Guidance

ICUI

Earnings

Guidance Update

ICU Medical, Inc. reported Q3 2025 revenue of $537.0 million, a decrease from $589.1 million in the same period in the prior year.
The company's GAAP net loss for Q3 2025 was $(3.4) million, or $(0.14) per diluted share, an improvement from a GAAP net loss of $(33.0) million, or $(1.35) per diluted share, in Q3 2024.
Adjusted diluted earnings per share for Q3 2025 was $2.03, up from $1.59 in Q3 2024, and Adjusted EBITDA was $105.9 million compared to $94.8 million in Q3 2024.
ICU Medical updated its Fiscal Year 2025 guidance, revising the GAAP net loss estimate to a range of $(8) million to $0 million and increasing the adjusted EBITDA estimate to a range of $395 million to $405 million.

Nov 6, 2025, 9:10 PM

8-K

ICU Medical Announces Third Quarter 2025 Results and Updates Fiscal Year 2025 Guidance

ICUI

Earnings

Guidance Update

ICU Medical reported third quarter 2025 revenue of $537.0 million.
For Q3 2025, the company recorded a GAAP net loss of $(3.4) million, or $(0.14) per diluted share, with adjusted diluted earnings per share of $2.03.
Adjusted EBITDA for the third quarter of 2025 was $105.9 million.
The company updated its Fiscal Year 2025 guidance, revising the estimated GAAP net loss to a range of $(8) million to $0 million and GAAP diluted loss per share to $(0.30) to $0.00.
Full-year 2025 guidance for adjusted EBITDA was updated to a range of $395 million to $405 million, and adjusted diluted earnings per share to $7.35 to $7.65.

Nov 6, 2025, 9:05 PM

Press Release

SeaStar Medical Highlights Cost Savings of QUELIMMUNE Therapy

ICUI

New Projects/Investments

Revenue Acceleration/Inflection

SeaStar Medical announced a health economic analysis published in the Journal of Medical Economics (IJME) estimating $69,146 in cost savings per hospitalization for pediatric Acute Kidney Injury (AKI) patients treated with its QUELIMMUNE therapy compared to standard continuous renal replacement therapy (CRRT).
These projected savings, driven by a reduced hospital length of stay of approximately 3 days and improved survival, are estimated to offset the cost of the QUELIMMUNE therapy, potentially leading to no out-of-pocket costs for institutions for a median of 6 days of treatment.
The QUELIMMUNE therapy was approved by the US FDA in 2024 for pediatric AKI due to sepsis. Clinical studies showed a 77% survival rate in treated patients, representing a potential ~50% reduction in loss of life compared to historical data.
The company notes that highly regarded children's medical centers have already adopted the QUELIMMUNE therapy, with this new economic data expected to support broader adoption.

Sep 2, 2025, 12:24 PM

Press Release

SeaStar Medical Announces Nasdaq Listing Compliance

ICUI

Delisting/Listing Issues

Product Launch

New Projects/Investments

SeaStar Medical (ICUI) has received confirmation from Nasdaq that it has met the minimum $2.5 million stockholders’ equity requirement and other listing criteria, resulting in the closure of the previously disclosed listing matter.
The company can now focus on commercializing QUELIMMUNE, which was approved in February 2024 and showed a 77% survival rate in treated patients.
SeaStar Medical is also conducting the NEUTRALIZE-AKI pivotal trial for its Selective Cytopheretic Device (SCD) therapy in adults with Acute Kidney Injury (AKI).
The SCD therapy has received Breakthrough Device Designation from the FDA for four therapeutic indications.

Jul 2, 2025, 8:25 PM

Press Release

ICU Medical Announces Q1 2025 Results

ICUI

Earnings

Guidance Update

Revenue Acceleration/Inflection

Revenues increased to $604.7M in Q1 2025 vs $566.7M in Q1 2024, driven by strong contributions from Consumables, Infusion Systems, and Vital Care .
Total ICU’s adjusted revenue reached $599M, with detailed segmented results for Systems and Vital Care .
GAAP net loss narrowed to $(15.5)M (or $(0.63) per diluted share) compared to $(39.5)M (or $(1.63) per share) in the prior year .
Adjusted diluted EPS rose to $1.72 and adjusted EBITDA reached $99.4M, reflecting enhanced operational performance .
Updated guidance projects Adjusted EBITDA of $380m to $405m and maintains Adjusted EPS guidance of $6.55 to $7.25 with key assumptions on currency and SG&A .

May 8, 2025, 8:30 PM

Presentation 8-K

ICU Medical Forms Joint Venture with Otsuka Pharmaceutical Factory in North America

ICUI

New Projects/Investments

ICU Medical and Otsuka Pharmaceutical Factory announced the formation of Otsuka ICU Medical LLC to strengthen supply chain resiliency and drive innovation in the North American IV solutions market.
The joint venture leverages ICU Medical’s production hub in Austin, Texas and Otsuka’s 16 IV solutions production sites across Asia to create one of the largest global IV solutions manufacturing networks, with an estimated 1.4 billion annual units.

May 1, 2025, 12:30 PM

Press Release

ICU Medical Presents 2025 Conference Update at Needham

ICUI

Guidance Update

Revenue Acceleration/Inflection

ICU Medical presented at the 24th Annual Needham Healthcare Conference on April 7, 2025, outlining its current positioning and future strategies.
The presentation reviewed the company's performance across core segments—Consumables, Systems, and Vital Care—highlighting a 2024 revenue of $2.35 billion and post–joint venture improvements.
It detailed pro forma financial metrics including share price, diluted shares, and enterprise value, emphasizing operational quality, supply chain stabilization, and clinical value.
Guidance for 2025 was provided with expected adjustments to EBITDA, EPS, revenue growth, and gross margin expansion targets.

Apr 7, 2025, 3:00 PM

Presentation

Earnings Transcripts

Quarterly earnings call transcripts for ICU MEDICAL INC/DE.