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Note 12 - Product Sale and Purchase Commitments | 12 Months Ended
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Dec. 31, 2022
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 2022, 2021 and 2020, UTMD received royalties of $20, $15 and $20, respectively, for the use of intellectual property. UTMD had $5,242 in operating lease and purchase commitments as of December 31, 2022.

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