UFP Technologies, Inc. Enters Material Amendment to Key Supply Agreement with Intuitive Surgical SARL
Newburyport, MA, February 24, 2026 – UFP Technologies, Inc. (NASDAQ: UFPT), a leading designer and custom manufacturer of engineered solutions primarily for the medical market, announced that it has entered into a significant amendment to its long-standing Manufacturing Supply Agreement with Intuitive Surgical SARL (“Intuitive”), a subsidiary of Intuitive Surgical, Inc., a global leader in robotic-assisted, minimally invasive surgery.
Key Highlights of the 8-K Filing
- Date of Amendment: February 19, 2026
- Counterparties: UFP Technologies, Inc., through a wholly-owned subsidiary, and Intuitive Surgical SARL
- Nature of Agreement: Amendment to existing Manufacturing Supply Agreement, originally effective since April 25, 2014
- Materiality: The amendment is considered a “Material Definitive Agreement” under SEC rules, indicating substantial potential impact on the company’s operations and financial results.
Details of the Agreement Amendment
The company’s Form 8-K discloses that on February 19, 2026, UFP Technologies, through its wholly-owned subsidiary, agreed to amend certain terms of its Manufacturing Supply Agreement with Intuitive Surgical SARL. The amendment—identified as Amendment No. 27—addresses several critical elements:
- Volume-Based Pricing: The amendment introduces volume-based pricing, which will apply depending on whether certain minimum purchase thresholds are met by Intuitive.
- Cost-Sharing Provisions: The updated agreement includes specific cost-sharing provisions, which may help both parties manage supply chain or production cost volatility.
- Supply Commitment and Customer Risks: UFP Technologies cautions that, despite the amendment, there is no guarantee Intuitive will purchase the anticipated volumes. The agreement allows Intuitive to source products from another listed supplier or to bring manufacturing in-house, which could materially affect UFP’s revenues.
- Risk Factors: The company highlights several risks associated with this agreement, including:
- Potential for Intuitive not to purchase the expected volume due to changing demand or internal production shifts.
- Competition from other suppliers listed in the amended agreement.
- UFP’s own ability to maintain or increase production rates at profitable levels.
- Supply chain and labor disruptions.
- Exhibits and Redactions: The full text of the amendment (Exhibit 10.1) is filed with the SEC, though certain terms—including specific product lists and pricing—have been redacted as they are deemed competitively sensitive and not material for disclosure purposes. Investors may request these omitted schedules and exhibits from the SEC.
Items Potentially Affecting Shareholder Value
- Revenue Implications: This amended agreement could have a material impact on future revenues, depending on Intuitive’s purchasing behavior and market demand for Intuitive’s surgical products.
- Competitive Position: The inclusion of other suppliers in the agreement and the possibility of Intuitive in-sourcing production introduces uncertainty about the exclusivity and longevity of UFP’s role as a preferred supplier.
- Operational Risks: The company’s ability to deliver increased volumes profitably and avoid supply chain disruptions remains a key risk point for investors.
Forward-Looking Statements and Risk Disclosure
The company notes that certain statements in the 8-K are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Outcomes may differ materially depending on various factors, including customer demand, UFP’s operational performance, competitive actions, and supply chain continuity. UFP Technologies disclaims any obligation to update forward-looking statements except as required by law.
Signatories
This filing was signed by Ronald J. Lataille, Chief Financial Officer and Senior Vice President of UFP Technologies, Inc., on February 24, 2026.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should perform their own due diligence and consult their financial advisors before making investment decisions. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those anticipated.
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