Filing Flows › ICU Medical (ICUI) › Q3 2025
ICU Medical (ICUI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
ICU Medical (ICUI) reported revenue of $537M for the third quarter 2025 (Q3 2025), -9% from a year earlier and -2% from the quarter before. Operating margin was 2.6%, net loss $3.4M (0.6% of revenue).
ICU Medical, Q3 2025: revenue $537M (-9% year over year), operating margin 2.6%, net loss $3.4M, operating cash flow $56.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $537M | -2% | -9% |
| Operating profit | $13.7M | +30% | — |
| Net earnings | −$3.4M | -110% | — |
| Operating cash flow | $56.7M | +406% | +57% |
| Free cash flow | $27.6M | — | +71% |
What changed
Revenue was $537.0M in Q3 2025, down 9% year over year and down 2% from the previous quarter. Infusion Consumables was the largest line at 53% of revenue. Vital Care lost $86.5M year over year (down 53%), 166% of the total change.
Gross margin was 37.4%, up 2.6 points from a year earlier. Operating profit was $13.7M, a 2.6% margin (up 1.2 points year over year). Operating expenses fell 5% while revenue fell 9%. The quarter ended with a net loss of $3.4M, after a profit of $35.3M the previous quarter. Net interest and other expense of $17.8M was the main reason.
Operating cash flow was $56.7M (up 57% year over year). Non-cash charges added back $50.8M of depreciation and amortization and $15.2M of share-based compensation. Working capital and other items used $5.9M. After purchase of property, plant and equipment ($29.1M), free cash flow as the company reports it was $27.6M.
Questions
What was ICU Medical's revenue in the third quarter 2025?
ICU Medical (ICUI) reported revenue of $537M for the third quarter 2025 (Q3 2025), -9% from a year earlier and -2% from the quarter before.
Was ICU Medical profitable in the third quarter 2025?
Operating profit was $13.7M (2.6% of revenue) and net loss $3.4M.
Source: ICU Medical 10-Q on SEC EDGAR.