Utah Medical Products, Inc. reported financial results for the third quarter and first nine months of 2026, showing a significant decline in sales compared to the prior year. For the three months ended September 30, 2026, total consolidated worldwide sales were $8,621, representing a 12.1% decrease from the $9,812 reported in the same period of 2025. Over the first nine months of 2026, total sales were $25,873, down 12.2% from the $29,474 recorded in the first nine months of 2025.
The filing attributes the revenue drop primarily to the loss of two key customers. Sales to PendoTECH, previously the company's largest OEM customer, were zero in the third quarter and first nine months of 2026, compared to $96 and $360, respectively, in the prior year. Additionally, sales to the company's largest distributor of blood pressure monitoring transducer kits in China were zero in both periods, compared to $395 in the third quarter of 2025 and $2,058 in the first nine months of 2025. Combined, these lost customers accounted for $491 in third-quarter 2025 sales and $2,419 in first-nine-months 2025 sales.
Partially offsetting these losses, Utah Medical reported sales of $116 in the third quarter and $327 in the first nine months of 2026 to new biopharmaceutical customers. The company also noted sales of $195 in the third quarter to a new China distributor for blood pressure monitoring kits, though this is described as a new business that may eventually match the demand of the previous distributor.
Specific product lines also saw declines. Worldwide sales of the Filshie Clip System were $805 lower in the third quarter of 2026 (a 32.7% drop) and $1,194 lower over the first nine months of the year (a 15.7% drop). However, the company's UK subsidiary, Femcare Ltd, acquired Orion Medical Supplies Ltd in late August 2026, which contributed $619 in third-quarter sales. Despite the sales decrease, the company reported improvements in operating income margins, which rose to 32.4% in the third quarter of 2026 from 26.6% in the prior year.
On the balance sheet, Utah Medical reported no debt as of September 30, 2026. Cash and investments were slightly lower at $85.2 million compared to $85.8 million on December 31, 2025, after paying $3.0 million in dividends, repurchasing $0.9 million of common stock, and purchasing Orion Medical for $5.0 million.
