Analyst Summary: UFP Technologies reported record financial results for the full year of 2022, with sales increasing by 71.5%, gross margin increasing by 1%, and net income increasing by 55.4%. The company's CEO highlighted the successful integration of recent acquisitions, strong organic growth, and completion of a new factory in Tijuana, Mexico. Despite supply chain challenges and a difficult labor market, UFP's base business grew organically at an impressive 18%. The company maintains a strong balance sheet with $55 million in debt. Management also expressed confidence in future growth prospects, with the realization of acquisition synergies and investments in production capacity, talent, and clean rooms. The financial results exceeded expectations, and the company's future outlook is positive. However, investors should be mindful of risks and uncertainties related to customer demand, the ability to operationalize Tijuana operations, and other factors that could impact actual results. Non-GAAP financial measures, including Adjusted Operating Income, EBITDA, and Adjusted EBITDA were also reported and should be considered supplemental to GAAP measures.