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Note 12 - Product Sale and Purchase Commitments | 12 Months Ended
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Dec. 31, 2021
Notes |
Note 12 - Product Sale and Purchase Commitments | Note 12 - Product Sale and Purchase Commitments The Company has had license agreements for the rights to develop and market certain products or technologies owned by unrelated parties. The confidential terms of such agreements are unique and varied, depending on many factors relating to the value and stage of development of the technology licensed. Royalties on future product sales are a normal component of such agreements and are included in the Company’s cost of goods sold on an ongoing basis. In 2021, 2020 and 2019, UTMD received royalties of $15, $20 and $6, respectively, for the use of intellectual property. UTMD had $4,891 in operating lease and purchase commitments as of December 31, 2021.

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