IRMD

Image source: The Motley Fool. Friday, July 31, 2026 at 11:00 a.m. ET President and Chief Executive Officer - Roger Susi Chief Financial Officer - John Glenn Operator: Hello, and welcome to the IRadimed Corporation's Second Quarter of 2026 Financial Results Conference Call. [Operator Instructions] This call is being recorded today, July 31, 2026, and contains time-sensitive accurate information that is valid only for today. Earlier IRadimed released its financial results for the second quarter of 2026. A copy of this press release announcing the company's earnings is available under the headings News on their website at iradimed.com. A copy of the press release was also furnished to the Securities and Exchange Commission on Form 8-K and can be found at sec.gov. This call is being broadcast live on the company's website at iradimed.com, and a replay will be available there for the next 90 days. Some of the information in today's section will constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements focus on future performance, results, plans and events and may include the company's expected future results. IRadimed reminds you that future results may differ materially from these forward-looking statements due to severe risk factors. For a description of the relevant risks and uncertainties that may affect the company's business, please see the Risk Factors section in the company's most recent report filed with the Securities and Exchange Commission, which may obtain free from the SEC's website at sec.gov. I want to turn the call over to Roger Susi, President and Chief Executive Officer of IRadimed Corporation. Mr. Susi? Roger Susi: Thank you, operator. Good morning, and welcome to IRadimed Corp's Second Quarter 2026 Earnings Call. This quarter, we embarked on the first general release production of the new 3870 MR IV pump system as planned, targeting, as discussed last quarter, the building of 130 to 135 of these new pumps. I'm very pleased to report that our teams performed exceptionally well and achieved our manufacturing target, no small task. Taking 3870 production from a standing start to an impressive rate in the quarter. Those efforts with those efforts, we were able to achieve revenue and earnings per our guidance with revenue of $20.5 million and earnings of $0.41 on a GAAP basis and non-GAAP earnings of $0.46 per share. As we expected and guided. The new pump launch consumes significant effort, including increased labor and overhead expenses, much of which is reflected in the quarter's gross margin of 74%. I want to speak to what's next, and that starts with a discussion of how bookings were in the quarter, how fast we can continue to ramp the new 3870 pump production and a short recap of our opportunity. Opportunities for the new 3870 pump system are both the increased penetration of the greenfield which are predominantly those facilities that continue to deal with IV fluid delivery in the MR setting via the various old school workarounds, expansion of current customer use requiring more pumps, as well as the quite substantial replacement of IRadimed aged installed base of 3860 pump systems. The most immediate and significant increase coming from the large replacement opportunity. This replacement opportunity will be our key growth driver for the next several years and was indeed a significant factor for many of the orders booked in the second quarter. Recalling that for the U.S. market, there are approximately 6,400 5-plus year old 3860/61 pump channels up for replacement, we had been selling approximately 1,100 such 3860 channels annually. And with the new 3870, we target adding another 1,000 channels per year through replacement sales of those -- from those existing 6,400 old 3860 units that are over 5 years old. Bookings for the quarter were more than double the units shipped showing very strong customer acceptance and quick decision-making while only scratching this -- at the target replacement based mildly. Add to this that not only are we replacing those older 2-channel pump systems, but an astounding 70% of those were replaced with our 4-channel quad pump system, thus requiring twice the number of pumps. Additionally, the ASP of this quad systems has been north of $110,000, providing well over a 20% lift in the ASP per pump. In short, the demand is exceeding our expectations in both the number of pumps and the ASP. But there's also some fantastic news with our patient monitor. Though the sales team was quite busy obtaining orders for the new 3870, they outperformed themselves and brought in a record high of 71 monitors from the domestic market while maintaining a high ASP. With a strong backlog and the sales potential we have, it comes down to the ramp-up of production and the ramp down of costs associated with manufacturing learning curve, which we've all been climbing every day. Q2 was a huge effort with plenty of inefficiencies and costs as we went from 0 to 130-plus 3870 pumps. Q3 will remain a stretch as we plan to more than double production again to over 300 units. However, we see that we are indeed riding that learning curve well and taming it, so we expect that the start-up costs experienced in Q2 will be better than 50% reduced in Q3, while earnings will reflect such a strong positive move as well. This will continue into Q4 by which time we anticipate nearing our historic manufacturing efficiencies. So what's coming in Q3, let me have Jack Glenn, our CFO, detail this for you, but I will say that as we enter Q3 with a solid backlog of our pump and monitor systems as well as a strong backlog of FMD systems, We, again, however, will be in a controlled production ramp phase, though ramping from 130 to our Q3 production target of over 300 3870 pumps is certainly a very high ramp rate. The team is performing, and we will feel -- and we feel confident we will deliver along with ever more MRI patient monitoring systems as well. Thus, you can expect IRadimed to be heading back to and beyond the strong growth rates of the past with expectations that by Q4 and with 2 early product launch quarters in the rearview, our gross margins will have not only returned but be setting new records, which fall directly to the bottom line, of course. Now I'll turn the call over to Jack Glenn, our CFO, to review the quarter's financial results and provide a deeper color on the growth through the balance of the year. John Glenn: Thank you, Roger, and good morning, everyone. As in the past, our results are reported on a GAAP basis and a non-GAAP basis. You can find a description of our non-GAAP measures in this morning's earnings release and a reconciliation to GAAP on the last page. For the 3 months ended June 30, 2026, revenue was $20.5 million, up 0.5% from $20.4 million in the second quarter of 2025. Pump revenue was in line with our expectations as we transitioned from the 3860 to the next-generation 3870 pump. MRI compatible patient vital signs monitoring systems contributed $6.7 million, up 12% year-over-year, and Ferro-magnetic Detection System contributed $0.8 million, up 57%. On the recurring side, disposables grew revenue -- disposables revenue grew 14% to $4.8 million, driven by continued increases in device utilization, amortization of extended maintenance agreements grew 28% to $0.8 million and services and other grew 7% to $1.1 million. Domestic sales were 82% of total revenue in the second quarter compared to 89% a year earlier as domestic 3860 pump revenues were exceptionally strong in Q2 of last year. For the 6 months, domestic sales accounted for 82% of revenue, down from 86% a year ago. Gross profit for the quarter was $15.2 million with a margin of 74% compared with $16 million and 78% in the second quarter of 2025. The decline in gross margin reflects the higher manufacturing costs associated with our first sizable production ramp of the 3870. For the 6 months, gross profit was $32 million with a margin of 75%, down from 77% a year earlier. We expect the gross margin to improve in the second half of the year as 3870 volumes build and manufacturing efficiencies take hold. Total operating expenses for the quarter were $8.8 million, down 4% from $9.2 million and 43% of revenue compared with 45% a year ago. General and administrative expense was $3.9 million, down 10%, primarily due to lower legal and professional fees, regulatory consulting and payroll and benefits. Sales and marketing expense was $4.2 million, up 6%, primarily due to higher sales commissions driven by the strong bookings in the quarter. Research and development expense was $0.7 million, down 25%, primarily reflecting an increase in capitalized internal software development on the next-generation monitor in the quarter. Income from operations for the quarter was $6.4 million or 31% of revenue compared with $6.8 million a year ago. Tax expense for the quarter was $1.7 million, with an effective tax rate of 24.2% compared with a 21.2% rate in the second quarter of 2025. The rate differs from the U.S. federal statutory rate, primarily due to state income tax expense, partially offset by benefits from research and development tax credits. As we stated in our first quarter call, the effective tax rate is also affected by the timing of deductions tied to the windfall deduction for equity grants, which is a discrete item taken at the time of vesting of the equity grants, most of which occur in the fourth quarter of the year. We no longer expect the windfall deduction to be as large as we originally thought, and therefore, believe the effective tax rate will be likely in the 24% range for the remainder of the year. Net income for the quarter was $5.2 million or $0.41 per diluted share compared with $5.8 million or $0.45 per diluted share. Non-GAAP net income was $5.9 million or $0.46 per diluted share compared with $6.4 million or $0.49 per diluted share, excluding $0.6 million of stock-based compensation expense net of tax benefit. For the 6 months, net income was $11 million or $0.86 per diluted share, up 5% and non-GAAP net income was $12.2 million or $0.95 per diluted share, up 4%. We ended the quarter with cash and cash equivalents of $59.1 million, up from $51.2 million at year-end. Cash flow from operations was $5.9 million for the quarter and $14.2 million for the 6 months, an increase of 18% over the first half of last year. Capital expenditures were $0.4 million for the quarter and $0.9 million for the 6 months, down from $6.7 million in the prior year period, which had included the construction of our new corporate office and manufacturing facility. Non-GAAP free cash flow was $5.5 million for the quarter and $13.3 million for the 6 months. Also, our Board of Directors declared a quarterly cash dividend of $0.20 per share payable on August 28, 2026, to stockholders of record as of the close of business on August 14, 2026. And lastly, to repeat our guidance. For the third quarter of we expect revenue of $23 million to $24.5 million, GAAP diluted earnings per share of $0.49 to $0.54 and non-GAAP diluted earnings per share of $0.54 to $0.59. For the full year 2026, we reaffirm our guidance and expect revenue of $91 million to $96 million, GAAP diluted earnings per share of $1.90 to $2.05 and non-GAAP diluted earnings per share of $2.09 to $2.24. Our non-GAAP earnings per share guidance excludes stock-based compensation expense and net of tax, which we expect to be approximately $2.5 million for the full year. And with that, I will turn the call over to questions. Operator? Operator: [Operator Instructions] Our first question comes from the line of Frank Takkinen with Lake Street Capital Markets. Nelson Cox: This is Nelson on for Frank. I want to start with the 3870 ramp. You went from 0 to 130-plus pumps in Q2 and now are planning for over 300 in Q3. I mean can you talk a little bit more about what that requires operationally? And are you adding additional shifts or production headcount, or does the existing line gets you there? And does the pace keep stepping up in Q4? Or should we kind of -- or how are you kind of wanting us to think about that? Roger Susi: No, we're not -- we kind of did the staffing stuff over the previous several months anticipating exactly what we need to meet the demands of making a new pump. So we're no longer doing that. That's -- so those expenses those had been in place, and that's not where we're going. It's exactly what I mentioned a few times over. It's strictly learning curve. It's experience, it's the efficiencies come when the folks that are making these products, basically they becomes sort of second nature, muscle memory, what have you, that's the experience I'm talking about. So it's -- at this point, cost-wise, free. But time-wise, they look to work over time to do this learning, and they're not as efficient and as fast. Nelson Cox: Helpful. And then as your 3860 units are phasing out, what happens -- how should we think about the service and disposable revenue attached to that install base. Maybe just talk through the 3870 quad replacement and your expectations with that for recurring revenue per site as those phase out. Is there any kind of transition gap you're thinking about? Or should we not really see anything like that? John Glenn: Yes, I can take that one, maybe. As far as the disposal revenue, you're seeing some nice growth already, right? I think in the quarter, had over 14% growth on the disposables, so the 3860 installed base continues, hopefully, on the same kind of utilization. What we're really excited about and we think will help us even grow that more in the future is the quad stack. Of course, we're seeing, right? That should help us really drive utilization just as you see 4 pumps compared to 2, so we're excited about the opportunity there, I think, in the future on the 3870 and the utilization. Nelson Cox: Got it. And then maybe just last one. If you're a hospital -- say, a hospital signs a quad stack order today, when are you kind of expecting that shift. Our new bookings landing maybe in Q4? Is it -- are we pushing into Q1 of next year? Or how is that playing out? John Glenn: As far as lead time? Nelson Cox: Yes, as far as lead time goes. John Glenn: I think as far as lead times, we're able to right now probably get it within the next quarter kind of thing, probably or at least orders that are coming in fill within 3 months. Roger Susi: Yes. So I mean, our -- our bookings of the new pump were more than doubled what we shipped. So the backlog is building. And as we go through the coming quarters, I wasn't quite sure of your question. But as we go through the coming quarters, of course, there'll be what customers experience as the lead time will extend back out to more historic levels, which is -- we've had lead times out in the 4 and 5 months zone on 6-month zone through much of our history and we're probably headed there and maybe a little more, frankly, because of the demand of this new system and because of the pleasant surprise of basically selling double the number of pumps with these quad systems. Operator: Ladies and gentlemen, I'm showing no further questions in the queue. I would now like to turn the call back over to Roger for closing remarks. Roger Susi: Thank you, operator. Well, as you heard, with the excellent customer reception of the new 3870 IV pump and continued strong sales of a 3880 patient monitor, along with production experience growing pushing up our ability to ramp 3870s, our $100 million run rate in Q4 is now well within our grasp. So with that, I'd like to thank you all for joining today's call and look forward to ramping production and regaining efficiencies as we capitalize on this huge opportunity before us. Thank you. Operator: Thank you. This concludes the call. You may now disconnect. Before you buy stock in Iradimed Corporation, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Iradimed Corporation wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $397,405!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,344,091!* Now, it’s worth noting Stock Advisor’s total average return is 953% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 7, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has positions in and recommends Iradimed Corporation. The Motley Fool has a disclosure policy. IRadimed (IRMD) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

This article first appeared on GuruFocus. Revenue: $20.5 million, up 0.5% from $20.4 million in Q2 2025. MRI-Compatible Patient Vital Signs Monitoring Systems Revenue: $6.7 million, up 12% year over year. Ferromagnetic Detection Systems Revenue: $0.8 million, up 57%. Disposables Revenue: $4.8 million, up 14%. Extended Maintenance Agreement Amortization: $0.8 million, up 28%. Gross Profit: $15.2 million with a margin of 74%, down from 78% in Q2 2025. Operating Expenses: $8.8 million, down 4% from $9.2 million. Income from Operations: $6.4 million, or 31% of revenue. Net Income: $5.2 million, or $0.41 per diluted share, compared with $5.8 million or $0.45 per share in Q2 2025. Non-GAAP Net Income: $5.9 million, or $0.46 per diluted share, compared with $6.4 million or $0.49 per share. Cash and Cash Equivalents: $59.1 million, up from $51.2 million at year-end. Cash Flow from Operations: $5.9 million for the quarter and $14.2 million for the six months, up 18% year over year. Capital Expenditures: $0.4 million for the quarter and $0.9 million for the six months. Non-GAAP Free Cash Flow: $5.5 million for the quarter and $13.3 million for the six months. Dividend: Declared a regular quarterly cash dividend of $0.20 per share. Q3 2026 Guidance: Revenue of $23 million to $24.5 million; GAAP EPS of $0.49 to $0.54; non-GAAP EPS of $0.54 to $0.59. Full Year 2026 Guidance: Revenue of $91 million to $96 million; GAAP EPS of $1.90 to $2.05; non-GAAP EPS of $2.09 to $2.24. Warning! GuruFocus has detected 2 Warning Sign with IRMD. Is IRMD fairly valued? Test your thesis with our free DCF calculator. Release Date: July 31, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. iRadimed Corp (NASDAQ:IRMD) successfully achieved its manufacturing target for the new 3,870 MRI IV pump system, ramping production from zero to over 130 units in Q2 2026. Bookings for the new 3,870 pump were more than double the units shipped, indicating strong customer acceptance and demand. 70% of replacement orders for the older 3,860 systems were for the higher-priced four-channel quad pump system, boosting average selling prices (ASP) by over 20%. The company saw record domestic sales of 71 MRI-compatible patient monitors in Q2, maintaining a high ASP. Recurring revenue streams showed strong growth, with disposables revenue up 14% and extended maintenance agreement amortization up 28% year-over-year. iRadimed Corp (NASDAQ:IRMD) ended Q2 with a strong cash position of $59.1 million and generated $14.2 million in operating cash flow for the first half of 2026, an 18% increase year-over-year. Gross margin declined to 74% in Q2 2026 from 78% in the prior year quarter, due to higher manufacturing costs and inefficiencies from the initial production ramp of the new 3,870 pump. Total revenue growth was nearly flat, increasing only 0.5% year-over-year to $20.5 million, as the company transitioned from the older 3,860 pump to the new 3,870 model. GAAP net income decreased to $5.2 million ($0.41 per diluted share) in Q2 2026, down from $5.8 million ($0.45 per diluted share) in Q2 2025. The effective tax rate increased to 24.2% in Q2 2026 from 21.2% in the prior year quarter, and the company no longer expects a large windfall deduction, leading to a higher expected tax rate for the remainder of the year. The company is still in a controlled production ramp phase, with Q3 production planned to more than double to over 300 units, which will continue to incur startup costs and inefficiencies, though at a reduced level compared to Q2. Q: Can you provide more detail on the operational requirements for the 3,870 pump ramp from 130+ units in Q2 to over 300 in Q3? Are you adding shifts or headcount, and does the pace continue to step up in Q4?A: Roger Susi (President and CEO) explained that the company had already completed the necessary staffing in previous months to meet production demands, so no additional hiring is required. The primary challenge is the manufacturing learning curve, where employees are gaining efficiency and speed through experience. While this learning process is cost-free in terms of new expenses, it requires overtime and initially results in lower efficiency. The focus is on achieving "muscle memory" in production to improve output and reduce costs. Q: As the 3,860 units phase out, how should we think about the service and disposable revenue attached to that installed base, and what are the expectations for recurring revenue per site with the 3,870 quad replacement?A: Jack Glenn (CFO) noted that disposables revenue is already showing strong growth, with a 14% increase in the quarter, driven by continued utilization of the existing 3,860 base. The company is excited about the future potential of the quad stack (4-channel) systems, which should further drive utilization and recurring revenue growth, as four pumps per site naturally increase usage compared to two. Q: If a hospital signs a quad system order today, what is the expected lead time for shipment? Are new bookings landing in Q4 or pushing into Q1 of next year?A: Jack Glenn (CFO) stated that current lead times are approximately three months for new orders. Roger Susi (President and CEO) added that as the backlog buildswith bookings more than double the units shipped in Q2lead times will likely extend back to historic levels of four to six months, or potentially longer, given the strong demand for the new system and the pleasant surprise of selling double the number of pumps with quad systems. Q: What were the key drivers of the strong bookings in Q2, and how does the replacement opportunity for the 3,860 installed base factor into the growth strategy?A: Roger Susi (President and CEO) highlighted that bookings were more than double the units shipped, driven by strong customer acceptance of the new 3,870 pump. The primary growth driver is the replacement of the aging installed base of 3,860 systems, with approximately 6,400 channels over five years old in the US market. Notably, 70% of replacements were for the four-channel quad system, requiring twice the number of pumps and providing a 20%+ lift in ASP per pump, with quad system ASPs exceeding $110,000. Q: Can you elaborate on the gross margin decline in Q2 and the expectations for improvement in the second half of the year?A: Jack Glenn (CFO) explained that the gross margin declined to 74% in Q2 from 78% a year earlier, reflecting higher manufacturing costs associated with the first sizable production ramp of the 3,870 pump. The company expects gross margins to improve in the second half of the year as 3,870 volumes build and manufacturing efficiencies take hold. Roger Susi (President and CEO) added that startup costs experienced in Q2 are expected to be reduced by more than 50% in Q3, with the company nearing historic manufacturing efficiencies by Q4. Q: What is the outlook for the patient monitor business, and how did it perform in Q2?A: Roger Susi (President and CEO) reported fantastic news for the patient monitor segment, with a record high of 71 monitors sold in the domestic market during Q2, while maintaining a high ASP. This performance was achieved despite the sales team's focus on the new 3,870 pump launch, demonstrating the strength and demand for the company's MRI-compatible patient vital signs monitoring systems. Q: Can you provide more color on the revenue breakdown and performance across different product lines in Q2?A: Jack Glenn (CFO) detailed that total revenue was $20.5 million, up 0.5% year-over-year. MRI-compatible patient vital signs monitoring systems contributed $6.7 million, up 12% year-over-year, while ferromagnetic detection systems contributed $0.8 million, up 57%. Recurring revenue showed strong growth, with disposables up 14% to $4.8 million, amortization of extended maintenance agreements up 28% to $0.8 million, and services and other growing to $1.1 million. Domestic sales were 82% of total revenue in Q2. Q: What is the company's guidance for Q3 and the full year 2026, and how does the production ramp factor into these expectations?A: Jack Glenn (CFO) provided guidance for Q3 2026, expecting revenue of $23 million to $24.5 million, GAAP diluted EPS of $0.49 to $0.54, and non-GAAP diluted EPS of $0.54 to $0.59. For the full year, the company reaffirmed guidance with revenue of $91 million to $96 million, GAAP diluted EPS of $1.90 to $2.05, and non-GAAP diluted EPS of $2.09 to $2.24. The guidance reflects the continued production ramp of the 3,870 pump and expected improvements in manufacturing efficiencies. Q: How did operating expenses perform in Q2, and what were the key drivers of the changes?A: Jack Glenn (CFO) reported total operating expenses of $8.8 million, down 4% from $9.2 million in the prior year, representing 43% of revenue. General and administrative expenses decreased 10% to $3.9 million, primarily due to lower legal and professional fees, regulatory consulting, and payroll benefits. Sales and marketing expenses increased 6% to $4.2 million, driven by higher sales commissions from the strong bookings. Research and development expenses decreased 25% to $0.7 million, reflecting increased capitalized internal software development on the next-generation monitor. Q: Can you discuss the company's cash position and capital allocation priorities?A: Jack Glenn (CFO) noted that the company ended Q2 with cash and cash equivalents of $59.1 million, up from $51.2 million at year-end. Cash flow from operations was $5.9 million for the quarter and $ For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Successfully transitioned from a standing start to general release production of the 3870 MR IV pump, meeting the initial target of 130 to 135 units. Performance was driven by a significant replacement cycle for the aged 3860 installed base, which includes approximately 6,400 pump channels over five years old in the U.S. market. Observed a strategic shift in customer preference where 70% of replacement orders opted for the 4-channel quad pump system over the legacy 2-channel systems. Achieved a 20% lift in Average Selling Price (ASP) per pump, with quad system ASPs exceeding $110,000, surpassing management's initial expectations. Domestic patient monitor sales reached a record high of 71 units, demonstrating strong cross-selling momentum despite the sales force's focus on the new pump launch. Gross margin of 74% was impacted by anticipated inefficiencies, increased labor, and overhead costs inherent in the early manufacturing learning curve of a new product. Planning to more than double 3870 pump production in Q3 to over 300 units as the manufacturing team gains 'muscle memory' and operational efficiency. Expect start-up costs to reduce by more than 50% in Q3, with a return to historic manufacturing efficiencies and potentially record gross margins by Q4. Targeting the addition of 1,000 channels per year specifically through the replacement of the existing 3860 installed base over the next several years. Anticipate reaching a $100 million revenue run rate by Q4 2026, supported by a solid backlog across pump, monitor, and FMD product lines. Full-year 2026 guidance assumes an effective tax rate of approximately 24% due to lower-than-expected windfall deductions from equity grants. Manufacturing ramp-up remains a 'stretch' goal for Q3, requiring significant coordination to manage the high rate of production acceleration. Lead times for new orders are expected to extend toward historic levels of 4 to 6 months due to demand for quad systems exceeding current production capacity. Research and development expenses decreased 25% year-over-year, primarily reflecting the capitalization of internal software development for the next-generation monitor. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management clarified that necessary staffing was completed in previous months; the ramp depends on the 'learning curve' and efficiency rather than new headcount. Current inefficiencies are tied to overtime and slower assembly speeds typical of new product launches, which are expected to normalize as production scales. The shift to 4-channel quad stacks is expected to drive higher long-term device utilization and disposable revenue compared to the legacy 2-channel units. Disposable revenue grew 14% in the current quarter, providing a strong baseline as the 3870 begins to penetrate the installed base. Current lead times are approximately 3 months, but management expects these to extend as bookings in the quarter were more than double the units shipped. The high demand for quad systems effectively doubles the number of pumps required per order, further stretching the production backlog.

Interested in iRadimed Corporation? Here are five stocks we like better. iRadimed’s new 3870 pump is seeing strong demand: Second-quarter bookings exceeded shipments by more than two times, with 70% of replaced older systems upgraded to higher-priced four-channel pumps. The company plans to produce more than 300 units in the third quarter. Profitability was pressured by the production ramp: Q2 revenue rose 0.5% to $20.5 million, but gross margin fell to 74% from 78% as launch-related manufacturing costs increased. Management expects startup costs to fall by more than 50% in Q3 and efficiency to improve further in Q4. Recurring revenue and guidance remained positive: Monitoring revenue increased 12%, disposables rose 14%, and the company reaffirmed its full-year 2026 outlook while guiding for Q3 revenue of $23 million to $24.5 million. iRadimed also declared a quarterly dividend of $0.20 per share. iRadimed (NASDAQ:IRMD) reported second-quarter 2026 revenue of $20.5 million, up 0.5% from a year earlier, as the company began general-release production of its new 3870 MRI IV pump system and worked through the costs associated with an initial manufacturing ramp. GAAP net income was $5.2 million, or $0.41 per diluted share, compared with $5.8 million, or $0.45 per share, in the second quarter of 2025. Non-GAAP net income was $5.9 million, or $0.46 per diluted share, versus $6.4 million, or $0.49 per share, a year ago. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now President and Chief Executive Officer Roger Susi said the company manufactured more than 130 of the new 3870 pumps during the quarter, meeting its planned target of 130 to 135 units. The launch required substantial labor and overhead, contributing to a decline in gross margin. Susi said bookings for the new 3870 pump exceeded the number of units shipped by more than two times during the quarter, citing strong early customer acceptance and demand tied largely to replacement opportunities within the company’s existing installed base. → Microsoft Just Flipped the AI Spending Narrative Overnight The company estimates that approximately 6,400 3860/3861 pump channels in the U.S. are more than five years old and eligible for replacement. iRadimed had been selling roughly 1,100 3860 channels annually and is targeting an additional 1,000 channels per year through replacement sales of older systems. Management said 70% of the older two-channel systems replaced during the period were replaced with four-channel, or quad, pump systems. Susi said those quad systems carried average selling prices above $110,000 and provided more than a 20% increase in average selling price per pump. → Carrier Earnings Could Send the Stock to a New All-Time High “The demand is exceeding our expectations in both the number of pumps and the ASP,” Susi said. The company expects to manufacture more than 300 3870 pumps in the third quarter, including a target of more than 338 units cited by management. Susi said iRadimed had already added staffing in prior months to prepare for the ramp and does not expect additional staffing to be the principal driver of costs going forward. Instead, he characterized the remaining challenge as a manufacturing learning curve, with workers gaining experience and improving efficiency. Susi said startup costs tied to the launch are expected to decline by more than 50% in the third quarter from second-quarter levels. The company expects further efficiency gains in the fourth quarter, when it anticipates approaching historical manufacturing efficiency levels. MRI-compatible patient vital signs monitoring systems generated $6.7 million in second-quarter revenue, an increase of 12% from the prior-year period. Susi said the domestic sales force booked a record 71 patient monitors while maintaining a high average selling price. Ferromagnetic detection system revenue was $0.8 million, up 57% year over year. Recurring revenue categories also grew during the quarter: Disposables revenue rose 14% to $4.8 million, driven by higher device utilization. Amortization of extended maintenance agreements increased 28% to $0.8 million. Services and other revenue rose 7% to $1.1 million. Chief Financial Officer Jack Glenn said the company expects the use of four-channel pump systems to support future disposable utilization because the systems contain four pumps rather than two. The existing 3860 installed base also continues to generate disposable revenue, he said. On order timing, Glenn said the company currently expects incoming orders to be deliverable within roughly three months. However, Susi said lead times could extend toward the company’s historical four- to six-month range, or potentially longer, as demand and backlog build. Gross profit was $15.2 million, and gross margin was 74%, compared with $16 million and a 78% margin in the second quarter of 2025. Glenn attributed the margin decline to higher manufacturing costs during the first sizable 3870 production ramp. For the first six months of 2026, gross margin was 75%, down from 77% in the prior-year period. The company expects gross margin to improve in the second half as 3870 production volume rises and manufacturing efficiencies improve. Operating expenses declined 4% to $8.8 million, representing 43% of revenue compared with 45% a year earlier. General and administrative expense fell 10%, while sales and marketing expense increased 6%, primarily because of higher sales commissions associated with strong bookings. Research and development expense declined 25%, reflecting increased capitalization of internal software development for the next-generation monitor. Operating income totaled $6.4 million, or 31% of revenue, compared with $6.8 million a year ago. The company’s effective tax rate was 24.2%, and Glenn said iRadimed now expects its tax rate to remain around 24% for the rest of 2026. iRadimed ended the quarter with $59.1 million in cash and cash equivalents, up from $51.2 million at year-end. Operating cash flow was $5.9 million for the quarter and $14.2 million for the first half, an 18% increase from the prior-year first half. The board declared a quarterly cash dividend of $0.20 per share, payable Aug. 28 to shareholders of record as of Aug. 14. The company reaffirmed its full-year 2026 outlook and issued third-quarter guidance: Third quarter: Revenue of $23 million to $24.5 million; GAAP diluted earnings per share of $0.49 to $0.54; and non-GAAP diluted earnings per share of $0.54 to $0.59. Full year: Revenue of $91 million to $96 million; GAAP diluted earnings per share of $1.90 to $2.05; and non-GAAP diluted earnings per share of $2.09 to $2.24. Susi said that, with the new pump’s customer reception, continued patient-monitor sales and improving manufacturing experience, a $100 million quarterly annualized revenue run rate in the fourth quarter is “well within our grasp.” iRadimed Corporation designs, develops and manufactures medical device solutions for MRI environments. The company's core product line consists of MRI-compatible infusion systems engineered to deliver precise fluid management during magnetic resonance imaging procedures. These devices are crafted to minimize electrical noise and interference, ensuring both patient safety and image clarity in diagnostic and interventional settings. In addition to infusion pumps, iRadimed offers a range of complementary accessories and monitoring solutions tailored to MRI suites. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "iRadimed Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Announces Regular Quarterly Cash Dividend of $0.20 Per Share Reaffirms Full-Year 2026 Revenue and Earnings Guidance Reports revenue of $20.5 million for the second quarter of 2026, which increased by $0.1 million, or 0.5% compared to the same period in 2025. Reports GAAP diluted EPS of $0.41 and non-GAAP diluted EPS of $0.46 for the second quarter of 2026. Declares a regular quarterly cash dividend of $0.20 per share of common stock for the second quarter of 2026, payable on August 28, 2026. ORLANDO, Fla., July 31, 2026 (GLOBE NEWSWIRE) -- IRADIMED CORPORATION (the “Company” or “Iradimed”) (NASDAQ: IRMD) announced today its financial results for the three and six months ended June 30, 2026. The Company is a leader in developing innovative magnetic resonance imaging (“MRI”) compatible medical devices and products. The Company is a provider of (i) non-magnetic intravenous (“IV”) infusion pump systems and (ii) a non-magnetic patient vital signs monitoring system that are each designed for use during MRI procedures. “The second quarter marked the first step in the actual launch of the new 3870 MR IV pump and transitioning of IV pump revenue from the older 3860 to this next-generation 3870 platform. Second-quarter revenue was in line with our expectations, and the initial 3870 shipments met our plan. This was our first sizable production ramp of the new pump, with expected startup inertia and challenges, which were well managed by our manufacturing and engineering teams. We anticipate that as experience and volumes build through the balance of the year, we will continue to gain efficiencies, which we expect will be reflected in a higher gross margin in the second half of the year. “We have been very pleased with our bookings for the quarter as domestic monitor unit bookings set a record, and the new 3870 bookings aligned with our expectations as we continue to get the 3870 in front of more customers. Of note, more than 70% of new pump orders were for our ‘quad stack’ configuration of four pumps on a single IV pole, an indication that customers are standardizing on this configuration for the 3870, and doubling the number of pump channels from the previous norm. We continue to expect the 3870 revenues to ramp significantly through the second half of the year,” said Roger Susi, President and Chief Executive Officer of Iradimed. “For the third quarter of 2026, we expect revenue of $23.0 million to $24.5 million and GAAP diluted earnings per share of $0.49 to $0.54 and non-GAAP diluted earnings per share of $0.54 to $0.59. We reaffirm our guidance for the full-year 2026, expecting to report revenue of $91.0 million to $96.0 million, and GAAP diluted earnings per share of $1.90 to $2.05 and non-GAAP diluted earnings per share of $2.09 to $2.24,” added Mr. Susi. The Company’s board of directors declared a regular quarterly cash dividend of $0.20 per share of our outstanding common stock. The dividend is payable to stockholders of record as of the close of business on August 14, 2026 and will be paid on August 28, 2026. Three Months Ended June 30, 2026 For the three months ended June 30, 2026, the Company reported revenue of $20.5 million, compared to $20.4 million for the comparable period of 2025, which increased by $0.1 million or 0.5%. The Company reported net income of $5.2 million, compared to $5.8 million for the comparable period of 2025, which decreased by 10%. Earnings per share decreased by $0.04 per diluted share or 9% to $0.41 per diluted share, for the three months ended June 30, 2026, compared to $0.45 per diluted share for the same period of 2025. For the three months ended June 30, 2026, the Company reported non-GAAP net income of $5.9 million, which excludes $0.6 million of stock compensation expense, net of tax benefit, compared to $6.4 million, which excludes $0.6 million of stock compensation expense, net of tax benefit, which decreased by 8% over the comparable period of 2025. On a non-GAAP basis, net income per diluted share was $0.46 for the three months ended June 30, 2026, compared to $0.49 per diluted share for the comparable period of 2025, which decreased by 7%. Six Months Ended June 30, 2026 For the six months ended June 30, 2026, the Company reported revenue of $42.4 million, compared to $39.9 million for the comparable period of 2025, which increased by $2.5 million or 6%. The Company reported net income of $11.0 million, compared to $10.5 million for the comparable period of 2025, which increased by 5%. Earnings per share increased by $0.04 per diluted share or 5% to $0.86 per diluted share, for the six months ended June 30, 2026, compared to $0.82 per diluted share for the same period of 2025. For the six months ended June 30, 2026, the Company reported non-GAAP net income of $12.2 million, which excludes $1.2 million of stock compensation expense, net of tax benefit, compared to $11.7 million, which excludes $1.2 million of stock compensation expense, net of tax benefit, which increased by 5% over the comparable period of 2025. On a non-GAAP basis, net income per diluted share was $0.95 for the six months ended June 30, 2026, compared to $0.91 per diluted share for the comparable period of 2025, which increased by 4% . Revenue Information: For the three months ended June 30, 2026 and 2025, domestic sales were 82% and 89% of total revenue, respectively. For the three months ended June 30, 2026, the gross profit margin was 74% compared to 78% for the comparable period of 2025. For the six months ended June 30, 2026 and 2025, domestic sales were 82% and 86% of total revenue, respectively. For the six months ended June 30, 2026, the gross profit margin was 75% compared to 77% for the comparable period of 2025. Cash Flow from Operations For the three months ended June 30, 2026, cash flow from operations was $5.9 million, compared to $7.7 million for the comparable period of 2025, a decrease of 23%. During the three months ended June 30, 2026, cash provided by operations was positively impacted by higher net income, pre-paid expenses, and inventory purchases, and negatively impacted by accounts receivable. See the compilation of non-GAAP free cash flow in the table later in this release. For the six months ended June 30, 2026, cash flow from operations was $14.2 million, compared to $12.0 million for the comparable period of 2025, an increase of 18%. During the six months ended June 30, 2026, cash provided by operations was positively impacted by higher net income, and lower cash outflows related to accounts payable, pre-paid expenses, and inventory purchases, and negatively impacted by accounts receivable. See the compilation of non-GAAP free cash flow in the table later in this release. Financial Guidance For the third quarter of 2026, the Company expects revenue of $23.0 million to $24.5 million, GAAP diluted earnings per share of $0.49 to $0.54, and non-GAAP diluted earnings per share of $0.54 to $0.59. For the full year 2026, the Company expects to report revenue of $91.0 million to $96.0 million, GAAP diluted earnings per share of $1.90 to $2.05, and non-GAAP diluted earnings per share of $2.09 to $2.24. The Company’s non-GAAP diluted earnings per share guidance excludes stock-based compensation expense, net of tax expense. The Company expects stock-based compensation expense, net of tax, to be approximately $2.5 million and $0.6 million for the full year and third quarter of 2026, respectively. Use of Non-GAAP Financial Measures The Company believes using non-GAAP net income, non-GAAP net income per share-diluted, and free cash flow is helpful to our investors. These measures, which we refer to as our non-GAAP financial measures, are not prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These non-GAAP measures are intended to provide the reader with additional supplemental perspectives on operating results, performance trends, and financial condition. Non-GAAP financial measures are not a substitute for GAAP measures; they should be read and used in conjunction with the Company’s GAAP financial information. Because non-GAAP financial measures presented in this release are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. We calculate non-GAAP net income as net income excluding: (1)  Stock-based compensation expense, net of tax. Because of varying available valuation methodologies, subjective assumptions, and the variety of equity instruments that can impact a company’s non-cash expenses, we believe that providing non-GAAP financial measures that exclude stock-based compensation expense allows for meaningful comparisons between our operating results from period to period; (2)  Operating expenses, net of tax, that we believe are not indicative of the Company’s ongoing core operating performance; and (3)  Infrequent income tax items are considered based on their nature and are excluded from the provision for income taxes as these costs or benefits are not indicative of our normal or future provision for income taxes. We calculate free cash flow as net cash provided by operating activities, less net cash used in investing activities for the development of internal software and purchases of property and equipment. We consider free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by our business that can be used for strategic opportunities, including investing in our business, making strategic acquisitions, strengthening our balance sheet and returning cash to our stockholders through various means. Our non-GAAP financial measures are important tools for financial and operational decision-making and for evaluating our ongoing core operating results. A reconciliation of the non-GAAP financial measures used in this release to the most comparable GAAP measures for the respective periods can be found in the table later in this release immediately following the condensed statements of operations. These non-GAAP financial measures should not be considered in isolation or as a substitute for a measure of the Company’s operating performance or liquidity prepared in accordance with GAAP and are not indicative of net income or cash provided by operating activities. Conference Call The Company has scheduled a conference call to discuss this release beginning at 11:00 a.m. Eastern Time, July 31, 2026. Individuals interested in listening to the conference call may do so by registering here, https://register-conf.media-server.com/register/BIc3b3caa4c4d94098970951ede5eb5d2e. Once registered, a dial-in number, a unique PIN, and instructions will be provided to participants. The conference call will also be available in real-time via the Internet at http://www.iradimed.com/en-us/investors/events/. A recording of the call will be available on the Company’s website following the call's completion. About IRADIMED CORPORATION IRADIMED CORPORATION is a leader in developing innovative Magnetic Resonance Imaging (“MRI”) compatible medical devices. We design, manufacture, market, and distribute MRI-compatible medical devices, accessories, disposables, and related services. We are the only known provider of a non-magnetic intravenous (“IV”) infusion pump system specifically designed to be safe for use during MRI procedures. We were the first to develop an infusion delivery system that largely eliminates many of the dangers and problems present during MRI procedures. Standard infusion pumps contain magnetic and electronic components that can create radio frequency interference and are dangerous to operate in the presence of the powerful magnet that drives an MRI system. Our patented MRidium® MRI compatible IV infusion pump systems (3860 and 3870) have a non-magnetic ultrasonic motor, uniquely designed non-ferrous parts, and other special features to safely and predictably deliver anesthesia and other IV fluids during various MRI procedures. Our pump solutions provide a seamless approach that enables accurate, safe, and dependable fluid delivery before, during, and after an MRI scan, which is essential to critically ill patients who cannot be removed from their vital medications and children and infants who must generally be sedated to remain immobile during an MRI scan. Our 3880 MRI compatible patient vital signs monitoring system has been designed with non-magnetic components and other special features to safely and accurately monitor a patient’s vital signs during various MRI procedures. The Iradimed 3880 system operates dependably in magnetic fields up to 30,000 gauss, which means it can operate virtually anywhere in the MRI scanner room. The Iradimed 3880 has a compact, lightweight design, allowing it to travel with the patient from the critical care unit to the MRI and back, resulting in increased patient safety through uninterrupted vital signs monitoring and decreasing the amount of time critically ill patients are away from critical care units. The features of the Iradimed 3880 include wireless ECG with dynamic gradient filtering; wireless SpO2 using Masimo® algorithms; non-magnetic respiratory CO2; invasive and non-invasive blood pressure; patient temperature, and optional advanced multi-gas anesthetic agent unit featuring continuous Minimum Alveolar Concentration measurements. The Iradimed 3880 MRI compatible patient vital signs monitoring system has an easy-to-use design and allows for the effective communication of patient vital signs information to clinicians. For more information, please visit www.iradimed.com. Forward-Looking Statements This release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, that address activities that the Company assumes, plans, expects, believes, intends, projects, indicates, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements, including statements relating to financial guidance, future quarterly cash dividends, operational issues meeting demand, commercialization, timing and expected revenue ramping of our next-generation 3870 MRI compatible IV infusion pump, and the Company’s strategic plans, objectives, and intentions. The forward-looking statements are based on management’s current belief, based on currently available information, as to the outcome and timing of future events. The forward-looking statements involve risks and uncertainties, including, among others, that our business plans may change as circumstances warrant. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date that they are made, which reflect management’s current estimates, projections, expectations, or beliefs, and which involve risks and uncertainties that could cause actual results and outcomes to be materially different. Risks and uncertainties that may affect the future results of the Company include, but are not limited to: our ability to receive 510(k) clearance for our products and product candidates, complete inspections conducted by the U.S. Food & Drug Administration (the “FDA”) or other regulatory bodies resulting in favorable outcomes, additional actions by or requests from the FDA, including a request to cease domestic distribution of products, or other regulatory bodies and unanticipated costs or delays associated with the resolution of these matters; the timing and likelihood of regulatory approvals or clearances from the FDA or other regulatory bodies and regulatory actions on our product candidates and product marketing activities; unexpected costs, expenses and diversion of management attention resulting from actions or requests posed to us by the FDA or other regulatory bodies; failure to obtain and/or maintain regulatory approvals or clearances and comply with applicable regulations; our primary reliance on a limited number of products; our ability to retain the continued service of our key professionals, including key management, marketing and scientific personnel, and to identify, hire and retain such additional qualified professionals; our expectations regarding the sales and marketing of our products, product candidates and services; our expectations regarding the integrity of our supply chain for our products; the potential for adverse application of environmental, health and safety and other laws and regulations of any jurisdiction on our operations; our expectations for market acceptance of our new products; the potential for our marketed products to be withdrawn due to recalls, patient adverse events or deaths; our ability to successfully prepare, file, prosecute, maintain, defend, including in cases of infringement, and enforce patent claims and other intellectual property rights on our products; our ability to identify and pursue development of additional products; the implementation of our business strategies; the potential for exposure to product liability claims; our financial performance expectations and interpretations thereof by securities analysts and investors; our ability to compete in the development and marketing of our products and product candidates with existing companies and new market entrants in our industry; difficulties or delays in the development, production, manufacturing and marketing of new or existing products and services, including difficulties or delays associated with obtaining requisite regulatory approvals or clearances associated with those activities; changes in laws and regulations or in the interpretation or application of laws or regulations, as well as possible failures to comply with applicable laws or regulations as a result of possible misinterpretations or misapplications; cost-containment efforts of our customers, purchasing groups, third-party payers and governmental organizations; costs associated with protecting our trade secrets and enforcing our patent, copyright and trademark rights, and successful challenges to the validity of our patents, copyrights or trademarks; actions of regulatory bodies and other government authorities, including the FDA and foreign counterparts, that could delay, limit or suspend product development, manufacturing or sales or result in recalls, seizures, consent decrees, injunctions and monetary sanctions; costs or claims resulting from potential errors or defects in our manufacturing that may injure persons or damage property or operations, including costs from remediation efforts or recalls; the results, consequences, effects or timing of any commercial disputes, patent infringement claims or other legal proceedings or any government investigations; changes in our production capacity, including interruptions in our ability to manufacture our products or an inability to obtain key components or raw materials or increased costs in such key components or raw materials; the failure of third parties to uphold their contractual duties or meet expected deadlines; uncertainties in our industry due to the effects of government-driven or mandated healthcare reform; competitive pressures in the markets in which we operate; potential negative impacts resulting from a future pandemic or epidemic, or natural disaster; the impact on our operations and financial results of any public health emergency and any related policies and actions by governments or other third parties; breaches or failures of our or our vendors’ or customers’ information technology systems or products, including by cyber-attack, data leakage, unauthorized access or theft; the loss of, or default by, one or more key customers or suppliers; unfavorable changes to the terms of key customer or supplier relationships; weakening of economic conditions, or the anticipation thereof, that could adversely affect the level of demand for our products; the conditions in the U.S. and global economies, including the impact of increasing and/or fluctuating tax and interest rates as well as inflationary pressures on such economies; geopolitical risks, including tariffs, trade disputes, international military conflicts and recent or upcoming elections in the United States and other countries, and the impact of insufficient governmental funding and related operational inefficiencies, which could, among other things, lead to increased volatility in the financial market and in the market in which we operate our business; and other risks detailed in our filings with the United States Securities and Exchange Commission (the “SEC”). Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of the Company’s control that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to, those included in Part II, Item 1A, “Risk Factors” of the Company’s Quarterly Reports on Form 10-Q, and Part I, Item 1A, “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as well as those otherwise described or updated from time to time in our other filings with the SEC. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and the Company undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Media Contact:IRADIMED CORPORATION(407) [email protected]

ORLANDO, Fla., July 24, 2026 (GLOBE NEWSWIRE) -- IRADIMED CORPORATION (NASDAQ: IRMD) announced today that the Company will release its 2026 second quarter financial results before the market opens on Friday, July 31, 2026. Iradimed management will host a conference call the same day beginning at 11:00 a.m. Eastern Time to discuss those results and to answer questions. Individuals interested in participating in the conference call may do so by registering here, https://register-conf.media-server.com/register/BIc3b3caa4c4d94098970951ede5eb5d2e Once registered, a dial-in number, unique pin, and instructions will be provided to participants. The conference call will also be available real-time via the internet at http://www.iradimed.com/en-us/investors/events/. A recording of the call will be available on the Company’s website following the completion of the call. About IRADIMED CORPORATION IRADIMED CORPORATION is a leader in developing innovative Magnetic Resonance Imaging (“MRI”) compatible medical devices. We design, manufacture, market, and distribute MRI-compatible medical devices, accessories, disposables, and related services. We are the only known provider of a non-magnetic intravenous (“IV”) infusion pump system specifically designed to be safe for use during MRI procedures. We were the first to develop an infusion delivery system that largely eliminates many of the dangers and problems present during MRI procedures. Standard infusion pumps contain magnetic and electronic components that can create radio frequency interference and are dangerous to operate in the presence of the powerful magnet that drives an MRI system. Our patented MRidium® MRI compatible IV infusion pump systems (3860 and 3870) have a non-magnetic ultrasonic motor, uniquely designed non-ferrous parts, and other special features to safely and predictably deliver anesthesia and other IV fluids during various MRI procedures. Our pump solutions provide a seamless approach that enables accurate, safe, and dependable fluid delivery before, during, and after an MRI scan, which is essential to critically ill patients who cannot be removed from their vital medications and children and infants who must generally be sedated to remain immobile during an MRI scan. Our 3880 MRI compatible patient vital signs monitoring system has been designed with non-magnetic components and other special features to safely and accurately monitor a patient’s vital signs during various MRI procedures. The Iradimed 3880 system operates dependably in magnetic fields up to 30,000 gauss, which means it can operate virtually anywhere in the MRI scanner room. The Iradimed 3880 has a compact, lightweight design, allowing it to travel with the patient from the critical care unit to the MRI and back, resulting in increased patient safety through uninterrupted vital signs monitoring and decreasing the amount of time critically ill patients are away from critical care units. The features of the Iradimed 3880 include wireless ECG with dynamic gradient filtering; wireless SpO2 using Masimo® algorithms; non-magnetic respiratory CO2; invasive and non-invasive blood pressure; patient temperature, and optional advanced multi-gas anesthetic agent unit featuring continuous Minimum Alveolar Concentration measurements. The Iradimed 3880 MRI compatible patient vital signs monitoring system has an easy-to-use design and allows for the effective communication of patient vital signs information to clinicians. For more information, please visit www.iradimed.com. Media Contact:John GlennChief Financial OfficerIRADIMED CORPORATION(407) 677-8022 [email protected]

This article first appeared on GuruFocus. Release Date: May 01, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. iRadimed Corp (NASDAQ:IRMD) reported a 13% increase in revenue for Q1 2026, reaching $22 million compared to the same period in 2025. The company achieved a 33% improvement in operating income, totaling $7.2 million, driven by disciplined expense management and a modified commission structure. Net income rose by 22% to $5.8 million, or $0.45 per diluted share, showcasing strong financial performance. The new 3,870 MR IV pump system is experiencing higher-than-expected ASP increases, with initial orders showing a 20% lift over the previous model. iRadimed Corp (NASDAQ:IRMD) is targeting a $50 million annual revenue run rate for pumps, with expectations of achieving a $100-plus million revenue run rate as 2026 progresses. Revenue expectations for Q2 2026 are projected to be between $20 million to $21 million, indicating a potential decline from Q1 2026. The company is facing challenges in ramping up production of the new 3,870 pump system, with a cautious approach to scaling manufacturing. Despite strong initial interest, Q2 revenue will not fully reflect the high level of order activity due to production constraints. The effective tax rate for the quarter increased to approximately 25%, influenced by the timing of deductions tied to equity grants. The company anticipates a controlled revenue growth rather than a step change, with declining revenue from older pump systems offsetting new product sales. Warning! GuruFocus has detected 2 Warning Sign with IRMD. Is IRMD fairly valued? Test your thesis with our free DCF calculator. Q: Why are customers transitioning from single or dual-channel systems to ordering four-channel systems? A: Roger Soucy, President and CEO, explained that more than half of the orders have been for the quad system, which was unexpected. The sales team has effectively demonstrated the benefits of the new system, which is smaller and stacks easily on a pole. Customers have realized the need for additional channels based on past experiences, leading to increased orders for the quad stack. Q: Is there a financial incentive for customers to purchase four-channel systems? A: Roger Soucy clarified that there is no specific financial incentive for purchasing four-channel systems. The new pump's ASP is higher than the previous model, with quad systems being sold for over $100,000, compared to the previous dual-channel systems priced at around $40,000. Q: What are the drivers for increasing pump sales from 1,100 to an additional 1,000 annually? A: Roger Soucy stated that the increase is primarily from replacing the installed base of older pumps. The excitement and demand from existing customers for the new pump are high, and there is no current plan to target greenfield opportunities, which would be additional to the replacement sales. Q: How is the manufacturing process handling the increased demand for the new pumps? A: Roger Soucy mentioned that while the sales team wants to ramp up production faster, the company is taking a cautious approach. They plan to produce 130-135 pumps this quarter and aim to double that in the third quarter. The new facility provides the necessary space, and efforts are focused on stabilizing the supply chain. Q: What are the financial expectations for the second quarter and the full year of 2026? A: Jack Len, CFO, provided guidance for Q2 with expected revenue of $20 million to $21 million and GAAP diluted EPS of $0.40 to $0.44. For the full year, revenue is expected to be between $91 million and $96 million, with GAAP diluted EPS of $1.90 to $2.05. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Revenue growth of 13% was primarily driven by the fulfillment of the 3860 pump backlog and steady performance in MRI patient monitoring. Operating income improved by 33% due to disciplined expense management and a modified commission structure that optimized sales costs. The launch of the 3870 MRI IV pump is seeing initial Average Selling Price (ASP) increases of approximately 20%, significantly exceeding the previously anticipated 10% to 14% range. A strategic shift in customer behavior is emerging where a majority of new orders are for 'Quad' 4-pump systems, effectively doubling the pump channels per site compared to legacy 2-channel systems. Management identifies a substantial replacement opportunity of approximately 6,400 legacy units over five years old as the primary growth engine for the next several years. The company is intentionally managing a 'controlled ramp' for the 3870 to stabilize the supply chain and production quality, rather than pursuing an immediate step-change in volume. Management targets a $100 million-plus annual revenue run rate as 2026 progresses, supported by higher 3870 ASPs and increased channel volume. The company expects to sell over 2,000 3870 pump channels annually in the domestic market, aiming for a $50 million annual run rate for the pump segment alone. Q2 2026 revenue guidance of $20 million to $21 million reflects a transition period where declining legacy 3860 sales are offset by the initial 130 to 135 unit shipments of the 3870. The back half of 2026 is expected to show accelerated performance as 3870 production scales and higher-value bookings are realized. The effective tax rate is projected to trend downward by year-end as windfall deductions for equity grants vest in the fourth quarter. R&D expenses increased due to the cessation of capitalized software for the 3870 and ongoing development of next-generation monitoring systems. The company declared a $0.20 per share quarterly cash dividend, maintaining its commitment to capital return alongside growth initiatives. Supply chain stabilization and 'ramping up know-how' are cited as the primary reasons for the conservative production schedule in the first half of the year. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributes the shift to the 3870's smaller form factor and a 'Quad Stak' sales strategy that highlights the ease of operating four integrated channels. Customers are identifying historical unmet needs for third and fourth channels, leading to quicker-than-typical budget approvals for larger systems. Quad systems are generating deal values exceeding $100,000, including peripherals like remotes and poles. Current growth projections do not yet factor in 'greenfield' upside from facilities using manual workarounds. Management noted that the sales team is currently 'inundated' by existing customer demand, leaving little immediate capacity to pursue new-to-market accounts. While the sales team requested over 200 units for Q2, management is capping shipments at 130 to 135 to ensure manufacturing quality and supply chain stability. Production is planned to double in the third quarter, reaching a 'heavy stride' by the fourth quarter of 2026. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

Strong quarter and raised guidance: iRadimed posted its 16th consecutive quarter of record revenue, with Q2 sales up 14% to $20.4M and GAAP EPS of $0.45, and raised full‑year 2025 revenue guidance to $80.0M–$82.5M (GAAP EPS $1.60–$1.70). MRidium 3870 clearance could be transformational: FDA clearance for the MRidium 3870 is expected to drive a replacement cycle (management cites over 6,200 U.S. 3860 channels eligible) and support a path toward a $100M revenue run rate, with ASPs ~12% higher than the legacy pump. Near‑term rollout is staged with an elevated backlog: iRadimed has a record backlog and will deploy only a small number of 3870 units in Q4 for feedback, warning of weaker pump bookings in Q1 2026 during the transition before bookings accelerate later in the year. Interested in iRadimed Corporation? Here are five stocks we like better. iRadimed (NASDAQ:IRMD) reported second-quarter 2025 results that management said marked the company’s 16th consecutive quarter of record revenues, driven by strength in its MRI-compatible infusion pump business and continued growth in patient monitoring. For the quarter ended June 30, 2025, revenue rose 14% year over year to $20.4 million, while gross margin held steady at 78%. GAAP diluted earnings per share increased 18% to $0.45, according to CFO Jack Glenn. President and CEO Roger Susi highlighted the quarter’s performance as the company prepares to launch its newly cleared MRidium 3870 IV pump system. → Corning Beats Q1 Estimates but Drops 9% on Guidance Miss Glenn said the revenue increase was “driven by strong performance across all product lines,” led by infusion pumps and patient monitoring. MRI-compatible IV infusion pump systems: $8.2 million, up 19% year over year Patient vital signs monitoring systems: $5.9 million, up 9% Disposables: $4.2 million, up 14% on increased utilization Domestic revenue rose 18% to $18.2 million, while international sales declined 9% to $2.2 million. Domestic revenue represented 89% of total revenue in the quarter, compared with 86% in the prior-year period, Glenn said. → Meta Posted Its Best Sales Growth Since 2021—So Why Did Shares Fall? Gross profit was $16.0 million, up 14% from $14.0 million a year earlier, with gross margin “consistent with the prior year.” Glenn said margin performance benefited from “increased overhead absorption as we built inventory ahead of the new facility’s opening.” Operating expenses increased 9% to $9.2 million, driven by higher sales and marketing spending and modest increases in general and administrative costs. Research and development expense was about $0.9 million, essentially flat, Glenn said. Income from operations grew 21% to $6.8 million, while net income rose to $5.8 million from $4.9 million a year ago. → Is Oracle Undervalued as Cloud Growth Accelerates? Susi told investors the company received FDA clearance on May 22 for its MRidium 3870 IV pump systems, calling the action “long-awaited and hard-fought.” He said the new pump platform is expected to drive a replacement cycle for older installed units and support the company’s growth trajectory into 2026. “With this clearance and the sales growth that the new pump will ignite will prove to be a seminal event,” Susi said, adding that the company’s revenue trajectory “looks to be passing the $100 million revenue run rate as we progress through 2026.” Management outlined its view of the replacement opportunity by referencing the installed base of its existing 3860 pumps. Susi said that in the U.S. market alone there are “over 6,200 five-plus-year-old 3860” pump channels “up for replacement,” and that the company currently sells about 1,000 channels annually in the domestic market. The company’s target, he said, is to add another 1,000 channels annually through upgrade and replacement sales in 2026, with a further ramp beyond that in subsequent years. As an illustrative framework, Susi said that if the company sells 2,000 3870 pump channels annually in the domestic market at a “slightly higher” average selling price, domestic pump device revenue expected at $28 million in 2025 could become “nearly $50 million.” He added that adding disposables, international sales, and the monitoring business supports his confidence in reaching a $100 million revenue run rate, while noting on the call that he had not factored in potential market expansion benefits from improved usability. In response to questions from Lake Street Capital Markets analyst Frank Takkinen, Glenn said iRadimed had a “record backlog as of June 30,” made up of both pumps and “very strong monitoring backlog as well,” which he said provides “good visibility into the second half of the year.” Susi said demand for the current MRidium 3860+ pump remains strong and that iRadimed is managing the timing of when the sales team begins broadly discussing the 3870. “They’re not doing that at this point,” he said, adding that the company expects to begin broader discussions “certainly somewhere in December.” Until that point, he said, orders for the legacy pump should remain “rather significant, quite strong.” ROTH analyst Jason Wittes asked about backlog fulfillment timing, and Susi said lead times differ by product line. He said the monitoring backlog is about “four weeks, five weeks,” while pump backlog is running “about five months, five to six months.” Susi also detailed the initial commercialization approach for the 3870. He said iRadimed plans to sell “a few 3870s” in the fourth quarter, which he characterized as “insignificant to revenue,” with the primary goal being feedback from a small group of early users. Wittes later asked if there would be upgrades from the backlog this year, and Susi said the company is “only targeting a limited number of facilities, basically three,” with plans to deliver “40 to 50 of the new pumps” for observation and learning. Looking to early 2026, Susi said the company expects pump bookings in the first quarter to be weak during the transition, even if reported revenue remains supported by the existing backlog. He said bookings should improve by the second quarter and “accelerate through Q3 and Q4.” Wittes also asked about pricing for the new 3870 pump. Susi said the company expects the average selling price to be “around 12-ish%” higher than the existing pump. He added that this should be reflected in gross margin and “might actually be reflected a little bit more so even in the gross margin,” though he did not provide specific margin targets tied to the new platform. Susi also revisited two topics discussed in the prior quarter: tariffs and potential effects from DOGE-related changes at government agencies. On tariffs, he said that while tariffs had been collected on some components, “the actual impact is still very small,” but that iRadimed expects to have better visibility as tariff policies stabilize and pre-tariff inventories are depleted. On DOGE-related effects, Susi said impacts “did not materialize.” Management raised full-year guidance following what Susi called a strong first half. For the third quarter of 2025, iRadimed expects revenue of $20.5 million to $20.9 million, representing 12% to 14% growth over Q3 2024 revenue of $18.3 million. The company guided to GAAP diluted EPS of $0.41 to $0.45 and non-GAAP diluted EPS of $0.45 to $0.49, with Susi noting expectations are “tempered by anticipated but short-lived operational inefficiencies during our facility transition,” as the company has moved into a new building. For the full year 2025, iRadimed now expects revenue of $80.0 million to $82.5 million, up from its prior range of $78.0 million to $82.0 million. GAAP diluted EPS guidance increased to $1.60 to $1.70 from $1.55 to $1.65, and non-GAAP diluted EPS increased to $1.76 to $1.86 from $1.71 to $1.81. Susi said the ranges include about $2.6 million in stock-related compensation expense net of tax for the year (and $0.6 million in Q3). Glenn said the company ended the quarter with $53.0 million in cash and cash equivalents, up from $52.2 million at year-end 2024. Operating cash flow was $7.7 million in Q2 and $12.0 million for the first half. Free cash flow was $4.9 million for the quarter and $5.3 million for the first half, reflecting $6.7 million in capital expenditures year to date tied primarily to the new facility. Glenn said iRadimed expects “final payments of approximately $1.1 million” for the facility in Q3, bringing total construction cost to about $12.6 million. Susi also reaffirmed the company’s quarterly dividend, saying iRadimed declared a $0.17 per share dividend for Q3 payable on August 28, 2025. In closing remarks, Susi said the company now has “very clear vision” for “many more years of rewarding growth” following the new pump clearance, after what he described as “white-knuckle twists and turns” related mainly to the clearance process. iRadimed Corporation designs, develops and manufactures medical device solutions for MRI environments. The company's core product line consists of MRI-compatible infusion systems engineered to deliver precise fluid management during magnetic resonance imaging procedures. These devices are crafted to minimize electrical noise and interference, ensuring both patient safety and image clarity in diagnostic and interventional settings. In addition to infusion pumps, iRadimed offers a range of complementary accessories and monitoring solutions tailored to MRI suites. The article "iRadimed Q1 Earnings Call Highlights" was originally published by MarketBeat.